GPWA Times Magazine - Issue 52 - March 2021

By Andrew Heaford, Legalbet.com As new markets and verticals with great potential continue to emerge, iGaming affiliates should have a strategic plan in place before attempting to put their stake in the ground Enter at Your Own Risk C A U T I O N : ou will often hear references to the “gambling industry” as if it is one homogenous entity. In my experience, it is anything but, with attitudes, interests, technology and preferences varying greatly from one geographic market to the next. The same is true of the different types of gambling verticals. What works for bingo customers, for example, may have no traction in the poker market. They are both “gambling,” but that is about where the similarities end. Before attempting to break into a new market or a new vertical, ignore these types of things at your peril. With that in mind, here are five guidelines to keep in mind if you are planning to try and break into a new market: DON’T RUSH This is, of course, true with most things, but it is of even more importance here. You will likely be finding your feet in almost every area, some at a minimum, and mistakes are almost inevitable. You want them to be as least costly as possible, and taking things slowly is the best way to do that. Take your time to get things right from the ground up, beginning with licensing and regulation. This is probably the thing that you will have least control over or the ability to change. This applies when launching into a new territory and also a new vertical in your existing area. G P W A t i m e s . o r g 28

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