According to the most recent statistics from The UK Gambling Commission, gambling revenues reached a new yearly record of £14.4b. This figure saw a healthy rise of 4.2% from the previous year and comprises all forms of gambling.
Mirroring the general shift to mobile, online gambling rose by an exceptional 12.8% to £5.3b. Online gaming is steadily growing as a percentage and now makes up 37.1% of all forms of gambling in the UK.
So much money flowing around presents many attractive business opportunities. The gambling industry provides a number of ways that people can make money online that does not involve betting itself. This includes things like blogging, review sites, affiliate marketing, and even setting up online casinos – all of which we will take a look at here.
Monetise expertise with a blog
As gambling continues to grow it also draws in new players who know little to nothing about it. These newbies are thirsty for success and the internet is often the first place they turn to educate themselves. If you have been playing for a while you probably know a thing or two about gaming. This involves basic knowledge like game rules, but new players also know that they need some kind of edge over their competitors. They are aware of the potential to supplement their incomes but are unsure of how to do so. This is where online gambling comes in and many would like to know more.
Setting up a site that provides gaming tutorials, poker lessons, for example, is a great way to generate traffic. So getting visitors is the first step, the second is to turn them into revenue streams. Luckily, there are many ways of doing this. Ads are an obvious one but consider less conventional methods such as selling e-books or providing courses. These can be time heavy but once they have been set up they can be an excellent source of ongoing passive income.
Gambling review sites
The internet is one of the most democratic spaces ever created where anyone can say whatever they like about any topic. We know this and are naturally skeptical of any personal recommendations we read. Fortunately, there are plenty of professional, legitimate sites that provide invaluable information that customers can use to base their decisions on.
Review sites play a critical role in helping gamblers discover new games and casinos to try out. A good one offers honest advice that cuts through the saturated market to find the hidden gems and things to avoid. Review sites have carved out a niche that is invaluable for navigating the ocean of online gambling options.
Consider focusing on one aspect of the gambling industry to make a greater impact. If you are an expert in poker then stick with reviewing poker products such as websites and apps. Slots are huge, so check out a website like SlotsAdviser.com which does an excellent job of focusing on this aspect of the gaming market. Other topics to focus on could be casinos, sports betting sites, bingo, and live gaming.
This approach is perfect if you have set up a gambling related website already or are planning to do so. Affiliate marketing is a way of getting paid for directing new customers to a third party online casino. The first step is to find an affiliate program that looks good and sign up for it. You can then utilize their tool kit of dynamic links, banners, and ads that can be placed on your website. When viewers click on one of these then the casino will be alerted where the potential customer came from via cookies and code. Users actions can then be monitored by the casino to calculate potential rewards.
There are two main rewards that can be earned. CPA stands for ‘cost per action’ and can be achieved by customers when they register their details or make their first deposit. Once the desired action has been completed then a lump sum of cash is earned. The second is revenue sharing rewards. Here the successful affiliate is paid a percentage of each new referred customer’s losses. There are a lot of affiliate programs available now that cater to a variety of situations. Take time to research which one matches you and your website the best.
Set up a new online casino
If you have enough time and resources you could even consider setting up your own online casino. Cut out the middle man and go directly to the public. This is obviously going to take significant investment and one that is out of the reach of most people. However, the benefits can be enormous so we will detail some general steps to get a platform up and running.
A solid gaming site needs top quality iGaming software. The most suitable provider will have just the right combination of quality, services, and price. Some iGaming providers can also help with payment systems, but if not, this is something else that will need to be implemented.
A gaming site also needs to be licensed by the appropriate authorities. In the UK it must be the UK Gambling Commission which sets some of the highest standards in the industry and is highly regarded. UK based companies are required to be licensed by this governing body.
Of course, the business needs to be packaged in a pleasing website on its own server that will draw punters in. Design and usability are critical for attracting and retaining users and require meticulous planning and execution. Get it wrong and watch the tumbleweeds blow by, get it right though and you can reap some serious financial benefits.
Online gambling in the UK is a big business and it continues to grow at a rapid rate. This expansion not only generates a lot of new revenue but it also provides entrepreneurs with a myriad of opportunities for getting in on the action. The online gambling pie in the UK is growing relentlessly and there are ample chances for business-minded individuals to get their hands on a slice of it.