In pursuit of online casino success, operators do their best to provide players with the most interesting products and services, promote their business, analyze the revenue, grow traffic, and implement many other business development methods. Operators create marketing and plans to follow. However there is another important plan we often ignore — the business continuity plan.
The iGaming business is vulnerable: it’s usually a large-scale venture, the risks are huge, and the number of potential threats is high. Starting from legal risks if the regulation changes or the market closes, to the cyber attack risks due to lack of security measures. Almost anything can go wrong and ruin a business that was built for years and took a lot of investment.
Slotegrator released a downloadable material describing what can potentially go wrong and how to make your business ready for it. Having a plan is crucial in this matter because improvising when an emergency occurs is a bad idea. What will you do if your regulator bans all forms of gambling advertising? Who will be responsible if the platform fails and the online casino stops functioning properly? How will you analyze the huge amount of data from your platform to detect a mistake? There must be a specific and very detailed plan of actions. Every minute of not accepting payments or not registering new players is an enormous loss for a casino operator, that’s why it’s so important to have your business continuously working without interruptions.
Some problems that may look less serious can cause big difficulties for businesses as well. For instance, Slotegrator talked to William Sarto, PR & Marketing Specialist at CasinoRIX, and got a few tips to help safeguard business during Google’s regular updates. Sarto points out several key advice: “Don’t rely on just one GEO; make sure you’re running projects across multiple countries. Don’t stick to just one vertical. For example, run projects in both the casino and betting sectors. This way, if one gets hit, you’ll have others to offset the impact.
Use a variety of strategies to promote your projects. If one takes a hit, others can grow or stay steady, giving you time to bounce back. Don’t rely solely on SEO for traffic—explore other channels to diversify your sources.”
Having said that, business continuity solution includes two main strategies. The first is to try to prevent the crisis and make your business less vulnerable to external events, and the second is a plan of actions to deal with a crisis and return to normal operation after it passes.
“We all know that being aware of potential risks is already a first step in preventing them. Problems that business face are various, especially in the iGaming industry, but knowing what can happen, learning from experiences gained before, and having a recovery plan can save many starting companies,” says Svetlana Kirichenko, Head of Marketing at Slotegrator.
Learn more about business continuity and disaster recovery from a new material from Slotegrator and contact their team in case of additional questions.
