It is often said that time is money, and when you are building an online casino, both time and money are important commodities that need to be treated as sacred.
Your time is important when you are racing to get the casino on the market. You may be competing against your rivals to get a new and innovative game in front of customers' eyes, and if you miss your window of opportunity then the entire project might be irrelevant. On top of this, lengthy processes increase the costs of your overheads and make it harder for your iGaming business to turn a profit. Creating a sense of urgency is therefore essential in any new development project.
Equally, saving money is just as important. You might have a limited budget or investors to keep happy, which will mean that every decision around money is vital. Any unnecessary costs need to be shaved off, and financial decision-making needs to be perfect. However, this is easier said than done. Unexpected faults or challenges might end up costing lots of money, putting your future in the iGaming industry at risk. It is therefore essential that you optimise your costs, and do everything you can to minimise your expenditure.
So what's the solution?
An external development team can help to save you lots of time and money by driving down overheads and speeding up your time to market with efficient processes.
A dedicated IT development team: What are the benefits to iGaming operators and why is it so important?
If you have not already heard, IT development is a big business. Around the world, online gambling operators everywhere are outsourcing their projects to experts who carefully craft exciting, profitable and technically sound gambling platforms that increase GGR and engage players.
However, one of the big questions that operators face is whether to hire an in-house team for their development, or whether to choose an external agency. For those without experience of development projects in iGaming, this is a major decision to make and is affected by factors such as cost, time and expertise.
Here are three key ways that outsourcing your casino build will save you time and money:
1. Saving your budget
iGaming businesses that successfully employ the outsourcing model often report a reduction in total organisation expenses of up to 25%. This means that if you need to execute a specific block of work within a project, such as testing new product features or upgrading an old version of an application, using the services of an external team can guarantee a limitation of costs that can be better used elsewhere. And as any project manager will tell you, cutting unnecessary costs is one of the key ingredients to building a fantastically successful iGaming business.
If we're talking about episodic labour - for example, how to construct and launch an MVP - then employing an external resource will also be less expensive (you can use our calculator to compare the cost of development by external and internal resources).
When you choose to outsource the development of your casino, the need for capital expenditures (CAPEX) disappears, as all the necessary investments have already been made by the partner. With these important savings, different areas of your iGaming business that need more funding and attention can be addressed, or used for operating expenses (OPEX).
Savings can also be generated by allowing for operational modifications in the project, such as disaster recovery of software. The cost of running operations is considerably lowered because internal development no longer needs continual support. If it becomes essential to discontinue the project while it is underway, the iGaming operator simply tells the outsourcing business and work will cease. The allocation of freed resources and payment to specialists for their "downtime" remain the responsibility of the outsourced developer, which is an important expense to avoid. When the market or company scenario changes, the client can restart work on the casino with the outsourced team in a more relaxed manner, and spend cash exclusively on development.
2. More free time for the iGaming operator
The most valuable resource when you outsource development projects for your online gambling platform is the time you are able to free up. Labour costs mounting up can be a devastating overhead for heads of IT departments of large corporations, and so they need to pay particular attention to the time they are allocating to certain tasks and projects.
In order to create a much more efficient workspace, and reduce labour costs, IT departments are increasingly looking to external resources to solve current IT problems. By enlisting the help of a team of outsourced developers, the operator's time is freed up for more important activities, such as strategic planning and focusing on the most critical business responsibilities. All operational activities, project management, and staff reshuffles are outsourced to the external development partner, giving the client more opportunity to concentrate on other aspects of the online casino; the development is taken care of.
Collaboration with an outsourced team also frees up the iGaming company's HR resources. The external development partner is in charge of issues such as recruiting, adaption, onboarding of new professionals, and motivating the workforce. As a result, the customer is provided with a pre-assembled project team with suitable experience, with team members who have been picked to work harmoniously together. If you can establish a long-term connection with an IT partner, there is no need to retrain new teams on the same agenda of rules, standards, and technology.
Each contractor is already familiar with the agreed design framework, and all of the required communicators and task trackers are set up, meaning that they do not have to assimilate with all of the intricacies of the new iGaming business. This results in an outsourced team's professionals being always ready to get into an online casino project quickly and deliver a rapid result. It also considerably streamlines many admin processes such as documentation, contracting, and nondisclosure agreements (NDAs). Channelling focus and energies on the aspects of the project that matter most is the primary and most valuable benefit of outsourcing.