How to Create a Sports Betting Web Platform
Online sports betting is one of the most popular pastimes among sports fans. Sports fans love to bet on sports before and during matches, whether it’s football, tennis, or rugby.
In 2020, the worldwide sports betting sector was worth a total of 203 billion dollars. There were approximately 197 thousand employees in this industry, with nearly 31 thousand businesses. Many countries have legalized sports betting, with the United States being one of the most recent to do so. The revenue from sports betting in the United States is expected to reach $8 billion by 2025.
The COVID-19 pandemic has done the deed. People realized that they needed to move their businesses online. It’s no different with sports betting platforms. Moving your business online in 2022 is a viable solution since most enterprises and people are shifting to the web. Some of its benefits include:
- Without spending a fortune on infrastructure, you may have a secure and stable income.
- The expansion of online betting software in the United States and elsewhere is accelerating.
- The gambling industry is no longer an unregulated market.
- It is governed by established gambling authorities.
- Artificial intelligence, virtual reliability, blockchain, and other technologies provide new opportunities to increase user engagement.
Starting an online sports business without the assistance of game providers is no easy task. Running a website, administering a webspace server, managing bonuses and payment systems on your own is nearly impossible.
What Is An Online Betting Platform?
An online betting website is a platform where bettors try to predict sports results and place wagers on the outcome. A successful betting platform is built to maximize the user experience and keep players as engaged and entertained as much as possible. Bettors can use online betting platforms to play sports games for a chance to win real money while also competing with other users.
Must-Have Features of a Sports Betting Platform
With increasing competition, you’ll want to make your sports betting platform the best but how do you achieve that? Every sports betting platform should have a few essential features.
This is the most important feature of any betting website, thus it should be as simple and quick as possible. To ensure seamless user experience, you should set up the payment system so that bettors don’t have to enter their payment information details every time they wager (the system must have a feature that allows it to “remember” user information). Besides, you should offer as many different types of bets as possible to give users a wide selection of bets and ways to make money and have fun.
You can also offer public betting to keep bettors informed about current events and give them the opportunity to participate. This functionality might be quite useful for novices who are still learning the ropes. They could, for example, join a popular bet to guarantee victory. You may also provide an estimate of how much money someone could win if they place a winning bet. If the bet isn’t popular, for example, the possible profit is larger, but the risk is also higher.
Online sports betting websites deal with sensitive information of their bettors such as their names, bank details, etc. Hence it is critical to safeguard this information and take the necessary precautions.
If your platform is riddled with glitches and bugs, or if it doesn’t feel secure enough, your customers may switch to your competitors. As a result, ensuring safety, protecting privacy and information, adhering to security regulations, and providing a secure environment for bettors is critical.
Sports fans, particularly those who wager on sports, must keep up with the latest news. That’s why users have to read a lot of news about current events and search through a variety of sources to gather as many insights as possible. For most bettors placing a wager with their money is a well-thought-out decision.
To stay on top of the competition, you need to keep all of your customers closer to your brand so that they are not only financially committed but also financially. You can deliver sports news right on your betting website, allowing customers to learn the latest scores and place wagers in just a few clicks without even leaving the website.
Watching Games Online
Going a step further and enabling customers to watch games right on your betting service is a nice touch that will make your service more appealing to users as a one-stop shop. Bettors will undoubtedly appreciate such an all-in-one platform, and you will gain a loyal customer base made up of returning users, as well as a steady stream of new ones.
By the way, you should consider including the newest trend of live-streaming; this feature can also help you attract a younger audience. You may, for example, work with sports bloggers to live-stream major events while mentioning your platform. Alternatively, live streams can be broadcast directly on your website.
Given how ubiquitous cryptocurrency payments have become (even some commonplace stores accept them), you should be one step ahead of the game and allow customers to bet if they have cryptocurrency to put up as collateral. Make sure your website accepts all popular cryptocurrencies and payment options.
Don’t underestimate the power of communities. Having one in your online betting platform can help you increase user engagement and earn more money. For example, bettors can watch games, comment on them, discuss them, and share their opinions.
You may develop more than a betting facilitator by adding extra social functions – in fact, you can create a vibrant community of sports fans who will argue about games and bets. If users are given the option to spend more time on the platform with like-minded people, they are more likely to keep using your platform rather than looking for other betting websites.
Diverse Range of Sports
When bettors have a wide range of sports to choose from it keeps them returning to the platform. This also allows new bettors to get a feel for the games and determine what they are comfortable with. Football is a profitable niche that is currently reaching new heights. New football betting sites are springing up all over the place, and they’re doing quite well.
Live Odds and Pre-Match Odds
Both of them are excellent choices for your online sports betting site because they provide the most entertaining, exhilarating, and spectacular betting experience.
They allow bettors to put wagers before the event begins or several wagers after the event begins in a short time.
This functionality is a must for any online sports betting web platform. Your bettors can share achievements and updates on their favorite social media networks using social sharing modules. This not only boosts engagement on your platform but also helps your marketing campaigns and raises brand awareness.
Real-time settlements are a great way to increase user engagement on your website. It keeps bettors coming back when money is transferred in real-time.
Betting Stats and Analytics
Betting statistics and analytics help bettors to find patterns, gain insight, and enable them to develop better betting strategies. The history features provide bettors with a complete list of their bets and keep them up to date at all times.
Custom User Profiles
User profiles allow bettors to customize their profiles and keep track of all of the crucial activities and updates related to their favorite events.
To Buy or to Build?
Anyone who has worked on the creation of a digital platform has confronted the dilemma of whether to buy or build. The choice will certainly depend on the business and the goals that you want to attain.
Furthermore, gambling presents distinct obstacles that must be carefully studied before making a final decision on how to build a sports betting website that would gain traction in the ever-growing market. The historical reality of sports betting in the United States, with gamblers opting for offshore sites due to a lack of local presence, is one of the primary roadblocks.
Another issue is that the general population in the United States is unfamiliar with the types of betting alternatives, in addition to the challenges of adhering to interstate wagering legislation for online and mobile solutions.
A white label solution is a platform created by one company and made available to a large number of other businesses. The platform provider develops and licenses the white label, while operators use the master license to run their business.
In general, if you have a limited budget, this is a good option for running your site. However, for operators that buy white-label products in most cases, a predetermined design and layout are provided though some flexibility may be granted.
Coding the Platform on Your Own
You can build up the basic features of the online betting platform if you have a technical background and development skills.
Developing the platform includes designing the website’s interface, selecting the betting theme and appearance, and having complete control over the kind of games you provide on the betting platform.
However, the development of an online sports betting platform is a complex process that involves many technologies so building it on your own is nearly impossible unless you have an in-house development team.
Collaboration with a Game Provider
This is by far the simplest approach to establishing an online sports betting platform. While building up the website the way you want it, you can take advantage of the game provider’s resources and skills.
The provider’s game designers and developers may be able to assist you in customizing a ready-made product to make it look modern and remarkable. Some SaaS suppliers can provide a ready-to-launch betting website in just a few days, which is a good deal because it lets you save a lot of time and focus on marketing instead.
Completely Customized Solution
While white-label solutions with some amount of customization dominate the market, without a unique UX/UI design and custom functionality, you’ll never gain a large market share.
If you lack the necessary technical skills to build your online sports betting platform, you may always turn to a specialized software development company. This is, however, a complex approach to creating an online sports betting website. Outsourcing design and development gives you less control over the project’s completion. Aside from that, it’s a costly and time-consuming process – developing a platform might take months.
However, software development is a complex process and it’s nearly impossible to create an online betting website on your own. Software development companies usually have extensive experience and deep expertise in developing solutions for the online sports betting industry. As a result, you can build a modern product with custom functionality, ensure unique customer experience, and get high user engagement to increase your income.
The creation of an online sports betting web platform allows you to become a part of the large multibillion-dollar business. Because curiosity and excitement are inherent in our nature, sports fans will always be interested in watching matches and placing wagers. However, you must keep in mind that the market is getting incredibly competitive.
Building a sports betting platform that will stand out from the crowd is no easy task. To handle all of the technical work, you’ll need a reliable and competent software development team. And that’s exactly what SCAND can help you with. Let us know what you’re looking for and we’ll get back to you as soon as possible with a top-notch solution to help you break into the sports betting niche.