One of the main things a company needs to keep a close eye on to stay afloat is different numbers and metrics. One such metric is the cost of goods sold, which represents how much money a business will need to spend to produce its goods. Calculating and accurately planning your expenses related to production costs will save you a lot of headaches in the future — and money, of course. Find out the formula for the cost of goods sold and a step-by-step calculation guide.  What is the cost of goods sold (COGS)? The cost of goods sold is

The online gambling industry grows year after year, becoming more lucrative. Just look at the numbers: in 2018, the total revenue of the online gambling market globally was $36,8 billion, reached $89,3 billion in 2023, and is projected to hit $136,3 billion by 2029.  It takes a lot of effort to set up something like a sports betting company or an online casino business and plan out all your expenses. So, how much does it cost to start an online casino? And how much is a gambling license? Read on to find out!   Overview of the costs involved in starting

Financial management, although sometimes overlooked, plays its role in the company’s success. It is especially the case for small businesses and partnerships (such as a limited partnership, limited liability partnership, general partnership, or other business types), where all the main financial operations and processes need to be quickly established and transparent.  This is why such companies might look into opening a joint business bank account to simplify their experience and ensure future growth.  Learn more about how joint business bank accounts work and how Genome’s shared business account allows our clients to manage their business finances with their team.    What

Online casinos are profitable businesses with annual growth rates higher than those of some countries. The revenue of the online casino market will only flourish. In just five years, the projected market volume will increase from $36,64 billion to $46,93 billion.  If you are considering starting your own online casino business, our team at Genome has some essential tips, which we have broken down into a 10-step blog post.  1. Understand the online casino market So, you might be wondering, “How to start an online casino in this current year?”. Market research and identifying your target audience are half the

Ah, the social pressures of today. People have to navigate through a lot of complicated and exhausting situations both at work and in personal matters. And, at the end of the day, when it’s time to kick off your boots, many choose to surf the internet just to encounter another trap. The fear of missing out (FoMO) for short. Let us make the situation a bit easier for you. In this article, we at Genome want to dive deeper into explaining what FoMO is and how to navigate your finances through some of the social pressures associated with it.     What

Have you recently received any random messages professing eternal love for you? Well, don’t be in a rush to respond – this is likely a primitive romance scheme. But sometimes, this type of fraud is not so obvious.  Let Genome help you figure it out. In this article, we uncover the meaning behind romance scams and explain how these can be avoided.  What is a romance scam? Like in many other fraudulent cases, the criminal creates a fake identity and starts surfing dating sites or social media. There, the fraudster starts corresponding with people, trying to quickly establish a “romantic

The iGaming industry is dynamic and faces many struggles on the path of its development. From emerging iGaming technologies to common updates in laws and regulations, online casinos have a lot on their plate. Thus, it is crucial to use a gambling payment gateway and a gambling payment processor that are up for the challenge.  The crucial role of a reliable payment solution in iGaming The iGaming industry is a broad term that encompasses multiple types of businesses, such as online gambling, internet gaming, online casinos, sports betting platforms, and more.  It is one of the most over-regulated business sectors

Not all fraud types are created equally, so to speak. Some are decades old, others are very simplistic, and even those that require deeper knowledge of technology. Loan fraud also has some specific characteristics. Its complexity is mainly due to the types and involvement of different parties.  But don’t let us at Genome get ahead of ourselves. Let’s take on the topic one step at a time to better understand the risks of loan fraud and how to prevent it.  Loan fraud: definition of the term   In general terms, loan fraud (sometimes called lending fraud) is a fraudulent activity when

The internet is too much sometimes: you answer emails, browse the web, scroll social media, get messages, and so on. All these can make you let your guard down, which is what scammers want. Especially when it comes to account takeover fraud. However, there are ways to prevent it, and Genome‘s team is ready to share our insights.  What is an account takeover?  An account takeover (ATO) occurs when a malicious actor gains unauthorized access to someone’s personal account, varying from social media to a banking app. After that, the scammer steals the individual’s money or personal information.  How serious

The article was updated on 18.09.2024 Did you know that Genome offers one of the quickest and most secure authentication methods for your log-ins – biometric authentication? To enable biometric authentication, you just need to: If you don’t have the Genome app, don’t worry. You can easily download it for free for your iOS or Android-based device, giving you instant access to its powerful security features.  You might wonder – what is a big deal about additional authentication steps when managing finances online? Unfortunately, even with multiple advanced security solutions, the internet still remains a place where fraudulent scams and