Being one of the fastest-growing segments in the gambling industry, sports betting is rather popular in the software development market. When starting your sports betting business, you need to know some important things to succeed. How to develop a winning sports betting platform? What things to consider before launching your start-up? Proceed with reading our article to find out the answers.
What Sports Betting Is and How Does It Work?
A sports betting platform is used for making predictions on sports games results. A player puts a bet via a betting platform intending to win a handsome amount of money while understanding all the risks of losing them. Sports betting typically involves different kinds of sports such as football, basketball, etc.
There are many types of sports betting, but below are the four common types used in the gambling industry:
- Moneyline – making a bet on who wins and getting a smaller or larger reward.
- Head-to-head bets – betting on a single winner.
- Parlays – accumulating several bets into one wager.
- Teasers – receiving a lower payoff for a larger shift.
5 Things to Consider When Starting a Sports Betting Game Software Development Project
Legal Jurisdiction
The first thing you need to consider, once you start your sports betting business, is purchasing a gambling license. Gambling is illegal in some countries, that’s why you need to obtain a license in a country where you want to launch your mobile betting application. To find out legal regulations in a specific country, you might need to consult with a local lawyer.
Software Functionality
When you create a sports betting app, you need to consider what functionality you’ll include in your application. To compete with other betting software developers, it’s crucial to add basic and advanced features that will provide an incomparable user experience.
Typically sports betting software consists of user and admin panels. The former contains all the necessary features for users to be able to place and maintain bets. While using your betting application, be sure your users can create and sign in to an account, place a bet, view their bets, and connect their payment cards with their accounts. The latter is used by betting platform owners to manage transactions, users, and bookmakers, as well as be able to customize the software functionality via an admin panel.
To provide an exceptional user experience, you may consider the additional features below:
- Live score updates for making quick bets during a match.
- Multi-lingual support to serve in multiple locations.
- Notifications to keep users updated about events, offers, etc.
- Multiple payment options to let bettors make a transaction in their currency.
Mobile Capability
The mobile market is rapidly growing with the increasing number of mobile users. Just in the past 12 months, the total number of mobile users has grown by 117 million according to the Global Digital Overview. So, it’s crucial for sports betting providers to create not only desktop and web platforms but also applications compatible with mobile devices. The popularity of mobile applications is due to their fast performance, user-friendly design, and rich functionality. Thus, ensure your sports betting software meets the needs of mobile users.
Payment Options
In the modern digitalized world, every betting software should provide multiple options for players to pay. They might prefer using bank cards, e-wallets, bitcoins, and other payment options. When starting your sports betting project, consider choosing a reliable payment gateway based on the criteria below:
- Secure encryption standards
- Easy integration
- Multi-currency and multiple card support
- Transactions speed
- Fraud detection
- Global support
- Mobile payment support
Sports Betting Mobile Applications Development Process
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Working Out Your Strategy
Before you enter the sports betting market, you should research your competitors and their sports betting platforms. Thorough market research during the preparation stage will give you favorable results once your app is released. After choosing a country, you want to target, be sure you analyze the betting platforms offered on the market. Focus your competitor analysis on the questions below:
- What features does the app have? What unique features does it provide for users?
- Is it supported by mobile devices?
- What payment options are offered? Does it support multiple payment options?
Once you know your competitor, work out clear requirements for your sports betting software project so that you can communicate them to app developers. Finally, estimate the costs to cover mobile game app development, license purchasing, and other things related to your sports betting business.
Choosing Sports Betting App Developers
Now you are ready for the sports betting software development. At this stage, your task is to select a reliable outsourcing development company with solid expertise in the gambling industry. You can choose from two options: purchasing a ready-made solution and sports betting software development from scratch. Which one is better for you? It all depends on your objectives, market competition, and your budget available. Still, keep in mind that gambling is an industry with strong competition, so to keep up with competitors in the domain, you’d better launch a unique sports betting platform.
Don’t hesitate to check the company’s portfolio if you consider sports betting game development from scratch. It’s crucial to understand that your potential partner knows their business.
Outsourcing sports betting software development companies typically work on different engagement models, including staff augmentation, hiring dedicated teams, etc. So, while choosing app developers for your project, define what engagement model works best for you.
Launching Your Application to an App Store
After your mobile sports betting application is ready, you must launch its app stores so that your user can download it. You can do it on your own or ask your outsourcing partner to assist you with the procedure. Mind that Google Play Market and App Store place strict restrictions on gambling apps. So, you need to review your betting application if it meets all the app store’s requirements. Otherwise, you may lose your funds.
According to Google Play Market’s policy, there are the following limitations:
- An app must target the U.K., Ireland, or France;
- An app provider must have a gambling license from the locations your app is targeting;
- The app must be free;
- The provider cannot use in-app billing; and
- The app must have a geo-fence and be rated Adult Only.
As far as the App Store is concerned, they place similar restrictions on betting software.
Summary
As a recap of what we told you in the article, here’s a short checklist of what you need to know about betting game development:
- Obtain a gambling license in the country where you plan to launch your app.
- Think over exceptional features and a user-friendly interface for your app.
- Don’t forget about mobile capability.
- Choose a reliable payment gateway and provide multiple payment options.
- Choose a reliable outsourcing provider to develop your sports betting software.
