Businessmen who are eager to start their iGaming project usually deal with an issue: they struggle to find the best solution to run the business and launch it as soon as possible. Sapar Karyagdyyev, CEO at Gamingtec, a leading iGaming platform provider, describes the benefits of using the full turnkey option and its capacity for the media entertainment industry.
There are two ways of creating an iGaming business provided by software developers: a white label solution and a full turnkey. The first one is a pre-made online franchise that a business owner purchases from a provider. The full turnkey is a customizable and flexible solution perfect for building a self-owned iGaming website.
According to Sapar Karyagdyyev, the full turnkey solution is the best option for a large-capitalization business: “By building a project using a full turnkey, the owner controls everything—from cash flow to the process of interaction with the suppliers. The platform owner can choose the design, the structure, payment methods, the games available for the players, and the license according to their preferences. It is the best way to create a unique brand that can be scaled in the future.”
If we are talking about a businessman taking the very first step in the media entertainment and iGaming industry, then a white label solution can work. Thus, the entrepreneur buys a legal online business including the required functionalities and a license. It can be a good training stage to understand the industry, get acquainted with content and payment providers, discover players’ preferences, and identify and avert unexpected consequences.
“White label is a good solution for the beginners that are not confident in their skills and are newcomers to the media entertainment and iGaming industry. However, in this case, the businessman quickly reaches the so-called “glass ceiling” and has to switch to a full turnkey to keep moving forward,” says Sapar Karyagdyyev.
To work with full turnkey, the operator needs to obtain an iGaming license. It is a long process, but it is a necessary step to ensure the stable development of the business. In case the businessman works under the license of the platform provider, all attracted clients “belong” to the platform provider. In other words, the business owner invests resources to attract players, but after moving to another platform provider, one has to start everything from scratch.
“We know how complicated it is to apply for a license, so we provide consulting services for those clients that want to build an iGaming business on our platform. It is the best investment in a successful start. We share our expertise regarding legal issues and guarantee that our platform complies with the requirements of the technical audit,” explains Sapar Karyagdyyev.
CEO of Gamingtec points out that there are professional developers in their team ready to fulfil all clients’ ideas and requests. What is more, the company engages partners (content and payment providers) that follow the wishes of the iGaming platform owners. “We put a lot of effort into providing a wide range of games and payment systems to our clients and look for new collaborations taking their requests into account,” he says.
In conclusion, the white label solution works best for entrepreneurs who are new to the iGaming industry, while full turnkey is a good choice for those that have sufficient capital and are ready to own an independent online iGaming business. With a full turnkey, it is possible to build an independent brand and, at the same time, have a contractor (platform provider) to take care of the developing process.
There is no definite answer to the question of what solution works best for entrepreneurs eager to launch their iGaming project. Depending on many factors, both can work well and bring results. To obtain success in the media entertainment and iGaming industries, a businessman should consult with several software platform providers, check their offerings and portfolios, study the topic, and get priorities clear. The white label can be compared with a safe playground or simulator; it works for beginners but the opportunities there are strictly limited. The full turnkey solution can be compared to a strong foundation on which a powerful business project can be built.