Description: Discover the pivotal significance of analyzing player activity in the realm of casinos. This article provides an in-depth exploration of how to effectively analyze player engagement utilizing the advanced tools offered by GR8 Tech.

The biggest problems of IGaming platform owners

There has been a lot of controversy and discussion about what awaits this market segment in the near future. Let’s take a look at how the gambling industry is developing now and what difficulties are faced by game operators and their users. The company GR8 Tech will help to create a platform with best igaming software solutions, paying maximum attention to every detail, which will make it possible to avoid trouble in the future. Gambling business is as vulnerable as any other, it requires constant attention and a lot of work, including crisis prevention and crisis management.

The most common problems of private iGaming market players

Platform owners face these challenges:

• The age of the user who downloads an app or registers on the platform cannot be verified.
• Ban on online casinos in many regions and strict regulation of their activities where online gambling is allowed. With the growth of revenues in this niche, the regulation is tightening and increasingly hinders the development of the gaming industry, but will not be able to stop it anyway.
• Serious competition in the iGaming vertical forces advertisers to invest more in attracting new players. This is a plus for arbitrageurs, as companies are ready to pay well for traffic.

To all of the above, gaming addiction is more relevant to online gaming than to land-based gambling establishments. With 24/7 internet access and a charged smartphone, a player has an even greater chance of becoming a ludomania. This negatively affects the reputation of gambling companies and stimulates stricter regulation of the niche by the government.

Crisis times in iGaming business

Apart from the obvious technical and legal problems, incorrect marketing strategy and player churn can lead to losses. A multitude of factors can undermine the functioning of a platform.

Labor market crisis and staff shortages, problems in the IT industry, natural disasters, political reforms or economic changes, amendments in the legal system, supply chain failures and failed partnerships.

It is better to be prepared for everything, so it is recommended to prevent problems by having a detailed contingency plan, because this way you won’t waste time and money.

What prevents payment providers from partnering with online gambling companies?

Despite the fact that online gambling is a highly profitable business, a large number of payment providers today still distance themselves from gambling and sports betting. Not many will be able to guarantee payment processing for these entrepreneurs. Simply even because they do not all understand the very nature of this business.

Partly, the very industry basis of gambling and the ruined reputation, high level of chargebacks and many unsettled legal issues are to blame. As it is known that the main risks in the gaming sector are money laundering, frequent chargebacks and high levels of fraud.

Globally, regulatory requirements come into play, which tend to vary from jurisdiction to jurisdiction. To prevent the risk of money laundering, operators must adhere to certain principles. Namely: verify linked accounts on the platform, apply strict verification and user verification at registration (KYC) rules, and conduct proper customer due diligence during the payout of winnings.