Will creating a sports betting app cost you an arm and a leg? Find out!
June 14, 2019| Inoru|0 Comment
Betting is common for every sport, and it has risen to prominence over time. Betting is most common in sports such as rugby, baseball, basketball, tennis, football, and cricket.
The audience seems to have a love-hate relationship with the concept of betting in sports. On one side, there are people who would like to keep up with the sanctity of the game by not letting it be influenced by bookies in any way.
And on the other, there are people who would like to reap the benefits out of probabilities of a person scoring or an event happening in the game. Ever since the concept of online betting fed into the world of mainstream sports betting, there was no fall back in the growth of this industry.
Some Astounding Numbers:
Sports betting is estimated to have a market cap of $250 billion. The license sportsbooks alone account for about $37 billion. The betting and lottery market nets revenues of $217 billion and is growing annually at a little over 0.6%. This industry has created 230,558 jobs and 21,046 businesses across the globe.
There are mixed emotions and legal implications of betting in sports. Europe and The United States have deemed betting and gambling to be completely legal whereas Japan and India have considered betting illegal. Irrespective of the status of sports betting, gambling is still legal in most countries.
Advantage of Online Sports Betting Mobile App
A lot of activities right from booking cabs to ordering grocery has become an online activity. The mobile betting market is expected to grow by almost 20% in 2019 and is expected to be a $3.1 billion market by 2023.
Online betting has a lot of advantages. You do not have to be physically present when you place a bet. This increases the possibility of everyone participating and also brings an enhanced aspect of security. A couple of taps on the smartphone does the job without any aspect of risk.
Examples of Success in betting industry
Some of the most popular mobile betting apps are Bet 365 and William Hill. There are also minor players like Paddy Power, Betfair, and Bovada.
All these applications present users with a few key features that make them a favorite among the crowded market of sports betting applications. On a parallel note, there are many different betting apps which come in all sorts of sizes and specifications.
Getting to know your way around the User Panel
To customize the content that is being presented to a user, a combination of a login and password is essential. The login can be created by using an email address or username or by using social media credentials.
Not all users might be interested in betting all games. The user should have the liberty to choose the sports and the player. The user can choose from a list of players that are displayed reactive to choosing a specific sport. The rate for each team and its player can be displayed parallel to the names.
Getting to know different sports betting models
There are different models of sports betting like check-raising, call, folding the flop, check or call, checking the river and a lot more. The user needs to have the flexibility to choose the betting model of their choice.
Just like different betting models, there are betting categories as well. The type of betting depends on the spot that is being played. There are a few established categories like handicaps, Yankee, single, head-to-head, each way and patent. Why internal communication is necessary for better engagement
As much as betting is about a single person winning, there are also conversations involved among the users. A good betting platform should be able to facilitate communication between users. When a new pool is created by an admin, the final status of your betting should be made available as soon as possible.
It has to be accepted that the main reason why people engage in sports betting is to earn money. An instant payment system has to be in place so that online payments can be facilitated within just a few taps on the screen. The payment gateway must be integrated into the app so that users can both pay and receive their payments in the quickest possible time.
Significance of Match Summary
Online sports betting has broken the barriers of geography. This would mean that the platform should be available in multiple languages, so people from different corners of the world can participate, subject to the country’s laws on gambling and betting.
Professional sports betting experts would like to be informed well ahead of the scheduled matches. The users must be informed about matches by using a calendar that has the match schedule with the exact date and time. This will help them prepare for their next betting.
Match summary is what helps users decide on how and where to bet next. A detailed match summary should be provided at the end of every match and of every bet.
Features of the Administrator Interface
An administrative interface has to be more focused on management than appeal. The administrative interface must have the following features:
User management tool
Input management from bookies
Management of payment and prices
The Advanced Features
We have seen the most basic features that are needed for sports betting application to operate. More than that, there are a few advanced features that will increase the appeal of your application.
Pay and Bet instantly
This feature helps the user become active as and when the game is going on. This will ensure that the users do not stay lazy once they have placed the bet. Instant betting can be made use of in games like tennis and football.
The most amazing sports betting Mobile applications might not see the light of the day if it wasn’t promoted in the most impeccable fashion. Just like every other app, advertisement is of vital importance. Advertisement happens on engagement when you deliver the latest trends in sports, the match scores and provide the users with a dynamic and engaging experience.
The technology that powers your betting app needs to be phenomenal in its performance. The app mandates transfer of data at very high speeds and for this, the integration of latest technologies like PostgreSQL and Cassandra will be essential.
The best pool of users to support a community of sports betting mobile app users are the users themselves. If the app can facilitate group chat and engages the community in itself, it will help keep the app ecosystem engaged and robust.
Cost of Creating a Sports Betting App like William Hill & Bet365!
Apps like William Hill and Bet365 have been perfected over time by many enhancements. The cost to create apps similar to these giants is lot. However, it is only wise to understand that even these apps grew from a nascent stage.
Factors that affect the cost
Depending on the specifications of your application, the profile of your audience, the frequency of sports, and the sheer number of people who will be participating, the cost of creating a betting app will differ on a case-by-case basis.
Anything said, your betting app needs to have a set of basic features both at user level and at an administrator level.
The generic cost that comes to mind for the creation of a basic sports betting app is close to $20,000. However, this company can guide you in the right direction and help you with the cost effective creation of a betting app.
Final Thoughts! What you need is a betting app developer!
When it comes to creating a betting app or any other app for that matter, there is no one-size-fits-all solution for the price.
However, factoring the experience of the company and the features that you will need with regards to your betting application the cost can be optimized.
It is important for you to choose the right company that specializes in creating an awesome sports betting software not just with technology but also with the understanding of the market, so your app is all primed and ready to hit the market.
So, what are you waiting for (unless you are thinking of creating a betting app like William Hill) get in touch with Inoru (us) the most well-known sports betting software providers in town!!