Mobile apps are a good way to go, let’s start by saying that.
The Apple Store has 1.96 million apps available for download (239,565 games), and the Google Play Store has 2.87 million (274,977 games), according to the latest figures.
Are they all great apps?
Absolutely not. But good apps perform well as financial investments. Why? Everyone is looking for the next best app that makes their life easier.
And another study found that 85% of consumers prefer mobile apps over websites.
So that brings us back to the topic – are casino apps the next best opportunity? Relating to the figure we’ve just given you, yes.
Funnily enough, 85% (same number) of gamblers play on their smartphones.
Before giving you too many statistics, we’ll get into whether casino apps are the next big opportunity.
The Explosive Growth of Online Gambling apps
There are so many casino apps for iPhone and Android.
The online gambling market has experienced rapid growth in recent years.
You’ve got smartphone improvements, 4G and 5G growing in coverage, and changing consumer attitudes that launched online gambling towards unprecedented growth.
The projected number is a market value of $97.15bn in 2024 to reach $153.57 billion by 2030, with a compound annual growth rate (CAGR) of 11.7%.
That’s insane growth.
And we’ve already told you how many gamblers are using smartphones to access gambling platforms – it’s more accessible to them than ever.
Just as regular gamers love Forthite and Roblox apps, casino fans are loving Chumba Casino, Wow Vegas and McLuck Casino so much, the app downloads for iPhone and Android devices for these three destination casino sites is through the roof.
Knowing these figures, we think we should have already convinced you why the investment would be a good option.
More on What Makes Mobile Casino Apps a Good Investment
We need to give you more on what makes mobile casino apps a good investment. First, we’ll tell you about how much they cost to make:
- Basic games – $10,000 – $50,000 – 2-4 months
- Mid-complex games – $20,000 – $100,000 – 4-8 months
- Highly complex games – $50,000 – $200,000 – 8-12+ months
We’d say casino apps are mid-complex to build and in the lower budget range.
They’re a simple app running a lot of games, that’s why we’d put them as mid-complex and low budget.
Studies also show that with the right software partnerships, the average profit margin is roughly 30-40%.
If you can market it well and make it professional with a good user interface, there’s no reason you can’t make your money back and more.
What Steps to Consider When Investing
Plan, plan, and plan again.
Our advice would be to look at other big players in the industry.
Don’t carbon copy, but analyze their user interface, navigation, how they operate, what payment options they offer, etc.
They’re the best for a reason.
We’d also suggest going down the route of new and emerging technologies – AI, cryptocurrency, etc.
Again, there’s a reason why big brands are investing so much money into these markets and technologies.
Or there’s the option to invest in casino apps rather than build one.
We’d say this isn’t a bad idea if the return on investment is good and the business plan seems solid.
We’d also consider what demographic you want to target.
Each app design typically targets a different demographic – whether it’s gamers, gamblers, or casual on-the-go people looking for something to do.
We’d try to create an app that’s inclusive of everyone, rather than creating a complicated interface.
Casino apps don’t need to be complicated, they just need to have good games.
Things to Avoid
There’s always something to avoid with any investment.
With mobile casino apps, one of the significant risks is failing to understand and meet the regulations.
Some areas are relaxing their online gambling laws, some are very restrictive – this poses risks to particular investments if there are sudden changes to the law.
We’d always recommend that you follow the regulations and update your app when it’s needed.
Over reliance on companies that do not innovate is definitely one to avoid. Some software companies – you’ll partner with these to add games to your app – aren’t the most reliable.
We’d recommend Microgaming and NetENT.
They’re the big names you can trust. If in doubt, Google the software providers with the best reputation.
This might sound obvious, but familiarize yourself with the business model, potential market sector, and potential market growth of the company.
We wouldn’t say it’s a saturated market, but it definitely is one to understand in-depth before you start creating an app.
And chances are, you don’t know how to build an app yourself and register it to the app stores.
You need an app builder who knows how to build a good app and a marketing company who knows how to promote them.
Do you think you could make a casino app?
It’s definitely an investment to be interested in.
Still, you can be interested in it all you want, actually successfully pulling it off is another story.
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