Sports betting apps have changed? Wanna bet?
From the nascent stage, devoid of basic features to the totally brilliant ways of betting with unlimited customization; betting apps have witnessed an amazing metamorphosis throughout the years. It is evident that these apps have come a long way and attained the much needed ‘e-volution’, however, there’s one word which can summarize the whole evolution aspect of sports betting apps; the advancement in adding more features, yeah FEATURES!
Entrepreneurs, lend us your ears, maybe some sports gears too!
Suppose you are an entrepreneur(read as a die-hard sports freak entrepreneur) waiting to pour your ideas into the world. You would need to narrow your choices down into the kind of betting games you would be foraying into. Online Betting Games are broadly divided into two major categories Casino Games and Online Sports Betting Games.
Playing the number game!
According to Statista, ‘In 2015, William Hill generated around 2.37 billion U.S. dollars in revenue with about 13.26 billion U.S. dollars in total being staked/wagered with the company’. So, you know bookmaking is quite the virtually fruitful industry or booming into one, rapidly. The Global Online Gambling & Betting Market was worth 140.21 Billion USD in 2018 and is estimated to reach 275.67 Billion USD by 2025 at a CAGR of 10.14% during the forecast period. Now, that’s some need for speed right there! Nuff numbers, let’s talk about the features.
Sports betting software providers divide an app into two major segments
- User Segment
- Admin Segment
As they say, the Devil is in the details or in DOTA 2, let’s get to know about the two segments in detail.
Getting inside the ‘User Panel’
Live match watching
This feature would allow users to watch the Match ‘live’ through the app, enabling them to gauge the progress. This helps in ‘betting strategy’ and has a nail-biting effect to the whole user experience.
Creating a guide for Betting
This is an essential feature. After all, bettors, no matter how hardcore need help to place a bet, and knowing their way about the app familiarizing themselves with the game, the team and players.
It’s of paramount importance for the app users to have information about other players betting in the segment. The peer-player information is a valuable tool to help players know each other, and their genuineness is not questioned. The player profile can be quirky, and points like strength and their profiles can have info about their previous performances.
Keeping up with the schedules
All active users should know about the impending matches and entire programs. Right from exact date and time to the whole calendar. This helps users to plan and know about the trends or market favorites. Give users the clay to build bricks with the features.
To Admin, with Love!
Managing your ‘Users’
This feature ensures that the admin can ‘manage’ all your registered users; all this can be done via the admin dashboard. As an admin, you have access to all the user details, type of betting, betting cycle and style, and the amount of bet placed by them among other things.
Admin’s Powerplay: Payments, Prizes and more
As an admin, you would be managing the flow of dosh that is used while betting. It is the sole duty of the admin to render the prize to the winners. You can understand the behavioral patterns of your users through the data you have access to. As an admin, you can add payment options, customized rewards, etc. You are the sole commander of what goes on in the backend.
Giving justice to the title; the cost to build a sports betting app
Wow! Eons later we are answering this question. There are a lot of factors that determine the cost of a fully developed app, naming a few below
- The complexity of the project
- Number of features to be added
Considering all this, there’s only a particular range one can provide. The price ranges from $10000 -$60000 depending on so many parameters. However, if you wish to get an accurate figure you should talk to our cost advisors. We at Inoru don’t just bring profound ‘good-luck’. We bring 12 years of expertise in the sports betting app development space.