When we talk about companies in the gambling sector, we don’t just mean online platform operators. There are several types of iGaming companies that provide services to the industry. Some of these companies will require a license to operate while others will not. The gambling sector is booming, and so to are opportunities for success. If you are considering a move into the online gambling industry, here are some of the most common types of companies.
The type of iGaming company you will be most familiar with is the platform operator. This is a company that operates online gambling websites and/or applications. Typically, they will provide games like slots, casino games, live dealer games, lotto, bingo, and scratchers. It also applies to sports betting, fantasy sports, and eSports platforms.
To operate a gambling platform, you will need a company and a license from a jurisdiction that allows online gambling. At Fast Offshore, we recommend opting for an offshore jurisdiction such as Kahnawake, Malta, or the Isle of Man for your company and online gambling license.
Another type of iGaming company is a game developer or game studio. These companies design and create games used by online gambling companies. These games could include roulette and blackjack, video slots, or live dealer poker games. It could also include online lotteries, bingo games, or even digital scratch cards.
Game developers aim to create a game that works well, looks good, and is enjoyable. Of course, it should make money for the platform as well! Games are then licensed to online gambling platforms that integrate them into their sites. Competition is fierce in the game development industry as studios compete to create the best, most innovative, and lucrative gambling options. A license is not generally needed for game developers, although some countries are mulling options in the future.
Unlike a game developer, a software provider is a type of iGaming company that offers other products to operators. Online casinos and betting sites have different needs, including CRM, databases, payment processing and accounts, marketing management and analytics, and of course, the software in which licensed games operate.
Additionally, some software focuses on random number generation, provably fair, and even compliance! There is a multitude of options. Some companies tailor make software for the iGaming industry, while others have one-size-fits-all approaches.
When it comes to a type of iGaming operator, gambling affiliates are some of the most integral. Affiliates drive traffic to gambling operators and are an essential revenue stream. They are crucial to operators and command significant commissions for their work.
Affiliates work with three main business models. These include rev share, an ongoing partnership where they continually receive money as players continue playing. Another type is CPA or cost per acquisition. This is where sites pay a flat rate for each customer that deposits. The last type is a hybrid deal, which combines the previous two. You don’t need to be licensed to offer affiliate services.
For over 24 years, Fast Offshore has worked in the gambling industry. We have directly assisted countless entrepreneurs in opening iGaming companies. These include all of the above, plus innovative and trailblazing businesses that have gone on to global success. Our experience covers all aspects including incorporation, licensing, structuring, compliance, and payments.
We can guide you through the whole process with transparency and professionalism. Additionally, we offer custom-made packages as well as off-the-shelf options depending on your needs. For any type of iGaming company, contact Fast Offshore today. We are waiting to help you.
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