White label bingo is a business model that may be suitable for those seeking a quick entry into the digital bingo market at a relatively low setup cost. With white labeling software, most of the work involved in setting up a bingo platform is done for the operator, as the majority of services are provided by the software provider, including games, a bingo network, customer support, payment processing, and licensing, among other things. If you are considering starting an iGaming operation that prioritizes speed and low cost over customization and control, this article will provide information on what to expect from a white label bingo solution. Top White Label Bingo Providers
What is a White Label Bingo Platform and How Does it Operate? Online bingo has become a popular form of entertainment around the world, especially in the United Kingdom. According to estimates, online gambling accounts for approximately 39% of the total gambling market in the country, generating an annual revenue of £5.4 billion. The online bingo segment of this market has performed well, with more than 28% of individuals aged 25-34 and about 26% of those aged 35-44 participating in online bingo games. Naturally, due to the lucrative nature of this industry, it has led to the launch of numerous white label sites and increased competition among networks. In fact, there have been several notable bingo network closures and restructurings over the past few years.For instance, there were many white label bingo sites operating in 2017. However, after Cozy Games was acquired by Entain PLC (formerly GVC Holdings), over the next three years, most of the white label sites were shut down and the network changed, becoming an in-house product. Another example of a significant change in the bingo industry is Microgaming’s announcement of the closure of its bingo network in 2020. Despite these significant changes, white label bingo platforms continue to be available and are relatively easy to operate. This is because a dedicated bingo platform essentially requires three key components: bingo games, a bingo network, and a community of players who compete against each other from other sites within the network.A white label solution covers the first two aspects as well as licensing, payments, security, frontend, backend, and customer support. Essentially, your job is to acquire and retain customers by utilizing the valuable CRM features and marketing tools provided. Expectations from a White Label Bingo Software Solution Although it is not possible to expect all white label bingo software solutions to be identical, the following represents a general overview of what is typically provided to the purchaser: Bingo Game Software You will receive the necessary bingo game software, including both games and a network. Reputable suppliers will provide you with in-house or third-party licensed real money game software with a certified random number generator (RNG). Common types of bingo games include 75-ball, 90-ball, 80-ball, and 30-ball bingo, as well as free bingo variants with jackpots.In addition to bingo, other white label games are commonly offered, including online slots, keno, slingo, and popular casino table games as well as live casino games. A bingo network differentiates stand-alone bingo games found in online casinos from dedicated bingo websites with social (chat) rooms. For example, Dragonfish’s bingo network includes over 140 partner brands. Players drawn to your website to play your games will compete against other bingo players from these partner websites on the same network. Expectations from a great bingo network include: – A variety of themed rooms for bingo – Chat rooms – Experienced chat hosts and moderators – LicensingYou will be provided with a white-label licensing solution. In other words, there is no need for you to go through a complex application process in order to obtain the bingo license you need in order to operate a legitimate business. The supplier will provide you with a fully compliant platform. You will operate under their license. Examples of possible licenses include: Payment processing Your online bingo business will be supplied with a traditional gaming payment processing system that should include a variety of payment methods. Examples of these may include: – Popular payment methods – eWallets, credit cards, debit cards, prepaid cards, etc. – Local payment methods – Popular payment methods within a specific country, including those only available within that country – Other types of payments – Mobile wallets and cryptocurrencies (e.g., Bitcoin, Litecoin, etc.) – Multiple currency deposit options – Front-end systemA white label product also encompasses the front end, which is the part of a website that customers see and interact with. High-quality front ends include: – Standard templates or customizable ones – No download application – User-friendly interface with smooth navigation – Fast load times, regardless of the platform – Omni-channel availability via desktop and mobile browsers as well as native apps (iOS and Android) – Support for multiple languages – localization – Back-office tools You will receive a back office with reporting tools that help to track player behaviors and allow you to manage a secure business operation with ease. The back-end system may include: – Support services – Chat hosting services – Advanced financial risk management services – Risk management tools – Security and anti-fraud software – Real-time reports – Management and recording of statistics – Customer Support Reliable support will be provided. This may include:24/7 Technical Support to Ensure Your Business Runs Smoothly Customer Support for Your Players Multilingual Support in Different Languages Support for VIP Accounts Marketing & CRM Solutions Acquiring Customers and Keeping Them Returning Implementing Smart Marketing Strategies for Bingo Players Network Campaigns and CRM Tools Bonus System Integration Jackpots, Prize Pools, and Affiliate Programs White Label Bingo Helps Your Business Keep Up Bingo is a Lucrative Industry with White Label Platforms Easily Operate Your Bingo Site in Months or Less
How Much Does it Cost to Get Started? If your aim is to operate a bingo-focused website, the price of a white-label bingo solution could be as low as £10,000. Nevertheless, if you plan to incorporate a casino game suite or other services, this amount will increase. Nevertheless, it is typically cheaper to launch a white-label bingo brand in comparison to a white-label casino or sportsbook. It is crucial to keep in mind that the setup cost is just one of the expenses you need to take into account. There may be other expenses associated with your venture. These could include a bingo network charge, taxes, an annual fee for the platform, marketing expenses, etc. To get a comprehensive list of business expenses, please contact the white-label provider directly for an official quote and acquire the information you require. Additionally, we strongly advise asking the company for a trial version to gain an insight into what you will receive.**Note:** The above pricing is provided for illustrative purposes only and should not be considered definitive. For an accurate estimate of the cost of white label bingo software, please contact the company you intend to work with directly. Pros and Cons of White Label Bingo Platforms Regardless of whether you choose a white label, turnkey, or self-service (API) solution, each business model has its advantages and disadvantages. With respect to a white label electronic bingo gaming system, the following are some key considerations:White Label Bingo Pros Quick Launch – You can have a Bingo site up and running in a matter of months or less. Low Setup Cost – No other iGaming software solution is as affordable as white label. Payments Included – Payment processing is integrated into the platform, eliminating the need to set up a merchant account. License Included – You operate under the supplier’s license, saving you time and money on applying for your own. Security and Support – You receive a fully secure platform with necessary support, eliminating the need for a large staff. White Label Bingo Cons Limited Customization – You may be able to customize minor aspects of your business, such as theme and color scheme, but overall, you’re limited to what the supplier provides. Lack of Control – The platform provider has control over the license, payments, frontend, backend, and other services.Essentially, you are renting their products and services and following their rules regarding operations. The supplier shares in the profits – the platform provider will take a share of your business’ profits. 23+ YEARS EXPERIENCE 50+ B2B PARTNERS 35+ iGAMING EVENTS 20+ iGAMING SOLUTIONS REVIEWED PLATFORMS Is White Label Bingo Right for You – Tips to Keep in Mind When exploring your options for white label bingo software, it is important to consider the following factors:There is not a wide range of options available – Unlike white label casino and sportsbook providers, there are fewer platforms that offer white label bingo products only. If you feel that your options are too limited for your needs and goals, you may want to consider expanding your search and look into companies that provide turnkey bingo solutions as well. You do not have complete control – As with any white label site, although you manage the operation and are responsible for acquiring and retaining customers, most other aspects of your business will be controlled by the provider, and you will be expected to operate your bingo platform in accordance with their guidelines. There will be some profit sharing – The convenience of a ready-made system comes at the cost of sharing a percentage of profits with the provider. This percentage can be as low as 10%, but it is often higher. It is important to be competitive – You will not be the only bingo operator in the market. Keep in mind that you will need to compete not only with other brands outside your network, but also with those within your network.**Clever Marketing Strategies Are Essential to Maximize Player Lifetime Value** To maximize the potential of player lifetime value and help your business thrive and succeed, it is essential to employ effective marketing strategies. Not all companies are equal, and not every white label provider is reputable. Therefore, it is crucial to ensure that the products offered by the company are licensed and that they work with reputable third-party partners. Reading Casinnovate’s reviews can be helpful in this regard, as we only recommend trustworthy and reliable software platforms for our readers. By doing so, you can find the ideal white label bingo solution for your business. **Finding the Right White Label Bingo Platform** Finding the right white label bingo platform is possible, but it is important to weigh the advantages and disadvantages of this type of solution. As with any online gambling startup solution, there are both benefits and challenges to consider. Ultimately, only you can determine what is best for your iGaming business, so it is essential to analyze all options and make an informed decision.Casinnovate can assist you in connecting with the leading white label software vendors in the industry. 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