Gambling is one of the most lucrative businesses in history. Gambling went online in the early 1990s with the invention of the first casino software. It did not take much time for investors to discover its vast potential. With stiff competition, the quality of the software and games quickly skyrocketed, with each online casino trying to offer better services.
The ideal experience of an online casino is when it is conveniently accessible from different devices. The experience can be browser-based, which allows for a wider reach, or mobile-app-based, which offers a more personalized experience. It should also feature a wide selection of games and sports events. However, to operate in different jurisdictions, online casinos have to be duly registered and licensed.
Licensing and Regulation
The scope of operation of an online casino depends on its license. Additionally, casinos must fulfill the legal and regulatory requirements of the jurisdiction they operate in. These are the rules of engagement between the online casino, the regulatory bodies, and their customers. The purpose of this is to combat fraud for consumer protection.
Casino Software
Casino software is designed to offer customers the ultimate gambling experience. For starters, the user interface gives customers the experience of being in a real casino. Slots, for example, are fitted with the same music and images that are on the real slot machines. Additionally, some games have a live dealer mode which has made them very popular. Other essential components of the software include a safe and secure payment gateway system.
Casino Support Staff
Despite being automated, online casinos require support staff to ensure their smooth operation. The support staff operation runs in sync with the casino website at any given time. The live dealers operate the games that offer the live dealer mode option. The customer care handles the customer complaints and claims while the security staff ensures the secure operation of the casino.
The ‘House Advantage’
For every game event that takes place, the casino retains a specific percentage of the total stake amount in any outcome. Online casino games operate in such a way that the casino has a statistical advantage over players. This is commonly known as the house advantage. Casinos make more money when they find ways of increasing their house edge. They do this by increasing the amount of time a player spends on a particular game or their bet amounts through promotional bonuses.
Promotional Bonuses
Casinos run an array of promotions at any given time to maintain and extend their house advantage. They offer sign-up bonus packages to entice new players to sign up and remain members of the casinos. The refer-a-friend bonus is also another popular promotion aimed at gaining more customers. Casinos may run other game-specific promotional bonuses or time-limited offers at any point in time.
Other incentives include free access to games or free spins of the wheel. By rewarding a player with a free hit after playing a particular number of paid hits, the casino gets them to play more. The casino also makes money in the form of commissions, popularly known as the rake. This is a fixed amount taken from the total stake of an event and paid to the casino for games where the casino has no house advantage.
Conclusion
The bottom line is, the operational decisions made in a casino are aimed at increasing its revenue as a business. While they must follow certain regulations as dictated by the regulatory body of their region online casinos can still set game rules to improve their house advantage in the long run. The house edge is also increased through attractive player bonuses and free chances to play favorite games one more time. This combination ensures a steady flow of business which translates into huge profits in the online casino business.
