No casino, online or offline, is an independent island. Every standard casino runs effectively on the collaborative efforts of different entities. This is the background for B2B partnerships in the gaming industry.
The term B2B is an acronym for business-to-business, also tagged B-to-B. It refers to commercial transactions between two or more independent businesses. Such transactions may include services, products, or both. Since the gambling industry exists through the collaborative efforts of multiple businesses, casinos essentially operate as B2B before rendering their services to players.
This guide discusses the dynamics of B2B partnerships in the gaming industry. It also includes tips on how online casinos can maximize them.
B2B Partners in the Online Casino Industry
As mentioned earlier, it takes a collective of many contributors for any casino to remain functional. Partnerships must exist amongst several businesses to create a casino’s design, game collection, payment options, security features, and customer support services. These businesses often include the following:
● Licensing and Regulatory Services: A casino’s license is the regulatory approval to operate within a jurisdiction. It is an indispensable feature of a legitimate casino. Thus, legit casino reviews are never complete without the mention of the casino’s license and its regulatory authority. Any casino without a license is clearly a scam. Hence, B2B partnerships that ensure a casino has the necessary licenses and complies with regulatory frameworks are non-negotiable. These partners help streamline the tedious processes that casinos have to undergo before they are permitted to enter the online gaming market.
● Software Developers: The quality of an online gaming platform is often linked to the repertoire of the software developers it partners with. Therefore, B2B partnerships are essential to the success of any online casino. Depending on the type of games the casino intends to promote, software providers can create unique titles, customizable table games, and fascinating live dealer options. This explains why NetEnt, Microgaming, and Real-time Gaming are popular favorites for slot games. On the other hand, Playtech and Microgaming are the top table game providers, while Authentic Gaming, Pragmatic Play, and Vivo Gaming are preferred for live gaming options.
● Gaming Service Providers: B2B partners offer a range of services that often go unnoticed despite being integral to the gaming industry. The services ensure software and platform access, compliance and licensing support, payment processing setups, operational support, content development, consultancy, and networking. They provide the casino with vital tools and expertise to gain a competitive edge in the industry.
● Consultancy and Advisory Service: Aside from running a smooth gaming platform, every casino needs an arm that caters to improving customer brand image and reputation. This is where B2B consulting partners come into play. The services ensure the smooth running of the casino’s marketing operations, create networking opportunities, analyze industry and market trends, and help the management make informed decisions. Consultancy and advisory services also help the casino they represent create new partnerships with other businesses in its best interest.
Tips to Maximize B2B Partnerships
B2B partnerships in the gambling industry don’t just happen. They are often products of research, evaluation, and legal processes. Once such partnerships are created, they can boost the brand reputation of each business. To maintain and maximize these beneficial partnerships, all B2B partners must actively engage in the following:
● Host and Attend Industry Events: This is non-negotiable. Any casino that will thrive in the industry and retain its partnerships must be willing to attend different industry events and host social gatherings. B2B partners can connect socially and physically via these programs. Popular examples include conferences, seminars, trade shows, and even social gatherings like award ceremonies, dinners, and launches. Such programs allow B2B partners to share meaningful conversations and explore more opportunities for collaboration. Some popular casino industry events include the Summit of iGaming Malta (SiGMA), the Global Gaming Expo (G2E), the International Casino Exhibition (ICE), and iGaming Business Live (iGB).
● Affiliate Programs: Casinos can market their products and create positive media attention for their brand through affiliate programs. Affiliates can promote the casino for a percentage share of the number of players they convert. Affiliate B2B partners can be social media influencers or celebrities who can reach the casino’s target audience. Through their marketing style, affiliates are able to reach more people on behalf of the casino. If affiliates feel better compensated for their services, they will be more motivated to reach more potential clients.
● Offer Exclusive Incentives: Providing exclusive incentives and benefits to B2B partners effectively encourages collaboration and strengthens relationships. Casinos can start with things as simple as discounted rates, VIP access to special programs, or customized marketing support. These incentives can give the casino a competitive edge and even attract more B2B partners.
● Join Other Industry Associations: Engaging with relevant business associations is always a good call in any industry. This not only grants the business the recognition and legal backing of the association, but it also increases its credibility and appeal to its consumers. This is the same in the casino industry. By joining industry associations and attending meetings, seminars, and events, casinos can stay more connected to their B2B partners while learning industry trends.
Final Thoughts
The casino industry’s B2B partnership is essential to the success of each business as well as the overall success of the industry. To maximize the many benefits of these partnerships, businesses need to adhere to the tips discussed in this guide. It’s also important that they frequently monitor the performance of each partnership as much as they would track the performance of their employees. This will help each partnership gauge its success and adjust where necessary.
