How investors from South Korea can start a gambling business
Like other Asian countries with rapidly growing economies, South Korea is fertile ground for the gambling industry. However, authorities keep the sector under tight control, with few legal options for locals, and a flat-out prohibition on online casinos.
The population has an obvious interest in betting — South Koreans love to gamble when abroad, and at the few local legal casinos — but Korean entrepreneurs are locked out of their own domestic market. How can a South Korean investor start a gambling business?
Choose a licensing jurisdiction
There are a few jurisdictions around the world — such as Curaçao, Malta, Alderney, and the Isle of Man — that allow online casino and sportsbook brands to incorporate a business and acquire a gambling license.
The terms of the license, application fee, and the application process vary from jurisdiction to jurisdiction, as do the target markets where the license is considered valid. New operators often choose the licensing jurisdiction according to their resources and target market.
Cooperate with a reliable software provider
Glitches and bugs will drive players away, so reliable software from proven providers is one of the most effective ways to attract and retain customers.
When choosing a platform software provider, evaluate the different products and services on the market and take into account the provider’s level of experience. How satisfied are their other customers? Also pay attention to the quality of the website frontend, adaptability to mobile devices, and overall user-friendliness of the interface — players definitely will.
Look through the games catalogs offered by providers, ask how long the integration process will take, discuss the terms of cooperation and clarify the availability of the prompt technical support. After the platform is developed, remember to evaluate the interface and navigation, check loading time on mobile devices, and make sure bugs and glitches can be fixed quickly.
Integrate high-quality gaming content
High-quality gambling content gives players a reason to return to the platform again and again.
A mix of classic formats like fruit slots and innovative new betting products like esports betting will help the platform appeal to a wide range of players. Offering demo versions of games helps appeal to new players who can then try the full version once they’ve gotten a handle of how the game works.
Live casino products have become incredibly popular in recent years. They bring the casino floor to player’s phones or laptops, creating the same exciting atmosphere, and players have responded positively to live casino products all across the globe.
Many players also enjoy sports betting. South Koreans, for example, enjoy betting on baseball, the Olympics, horse racing, and golf, among other sports — though most of this betting takes place through one of two sportsbooks that make up the country’s duopoloy.
To make sure they have enough game content to satisfy players of all tastes, many operators choose to work with a game aggregator instead of signing contract after contract with countless game provider’s. Slotegrator’s APIgrator solution, for example, adds over 5,000 certified games from over 75 licensed developers to a platform in a single integration session.
Integrate a variety of payment methods
The more payment systems a platform supports, the more convenient it is for players to make deposits and withdrawals. It’s important to facilitat the most used payment methods in your target market. For example, in South Korea, players are blocked from using traditional bank transfers, so e-wallets are popular.
Adding each payment service provider to your platform one by one consumes time and resources that could be better spent on strategic planning. Slotegrator’s Moneygrator solution integrates over 250 payment options into a platform in a single integration session.
Design and localize your website’s frontend
It is important to develop an easy-to-navigate user interface. High-quality navigation will allow the player to find the section he needs. The main menu items should be on the main page, advertising banners and categories with entertainment content are in the center.
The site design should attract the user’s attention and stand out from the competitors’ platforms. Nuance matters; excessive graphic elements repel visitors and overload the entire system, navigation links should all function properly, buttons should be highly visible, and — perhaps most importantly — the website should be localized according to the expectations of your target market.
After the platform is developed, remember to evaluate the interface and navigation, check loading time on mobile devices, and make sure bugs and glitches can be fixed quickly.
High-quality turnkey platform solutions will allow you to completely customize your website’s frontend. Slotegrator’s highly flexible Casino Kit solution allows operators to quickly and easily tailor their interface to any target market of their choosing.
Marketing and follow-up
When the gambling platform is ready to be launched, you need to start preparing a marketing strategy that will attract users to the site and win their trust.
Study your competitors’ platforms, analyse their possible mistakes, and try not to make them when working with your own resource. You should use a variety of marketing strategies, including SEO, SMS, email marketing, and affiliate marketing to bring in new players. To retain site visitors, use a bonus system and develop loyalty programs for regular players.
To develop an effective platform in the shortest possible time, enlist the support of specialists. Slotegrator offers many productive solutions for the development of gambling businesses — in particular, our turnkey solution.
The launching period is three months or less, and necessary technical support is provided afterwards. The platform has a customizable user interface, APIs to integrate games, payment systems, modules and third-party extensions, a bonus module for developing loyalty programs, CRM tools, reporting tools to track and analyze business performance, and everything else you could need to run a successful online gambling platform.
If you’re interested in saving time and money while launching a business that has high odds of quickly returning initial investments before turning a profit, Turnkey Casino is the right choice for you. Get in touch with us to learn more.