Create Your Own Betting Site

Create Your Own Betting Site – According to the Sion Market Research report, in the next five years, the world market for sports betting is expected to grow at a constant rate of 9% per year, with most of the growth “thanks to the digital revolution that is changing the world . every second.” So, if you want to create a sports betting website, now is the time. Our article will tell you how to do it correctly and legally.

Which place and sport is better to choose? Major online brokers such as betway.com, 888sport.com and bet365.com offer bets on almost all sports. Unless you are willing to invest a lot of money in a marketing campaign, you will not be able to compete with them the first time. If the budget is limited, it is better to bet on a specific category or a specific sport.

Create Your Own Betting Site

Targeting a small niche will create a better user experience and make the site more recognizable. In practice, this means you need:

Sports Betting App Development Services

You should choose a niche based on the field in which you intend to work. The simplest example is that in Europe soccer is popular, American soccer is practically not played, and vice versa, American soccer is also popular in America. Almost no interest in football. The popularity of bets on certain sports in the country can be found, for example, using Google Trends.

Using Google Trends is simple: enter keywords (“sport name” + “bets”), select a region and a tracked period. Keywords should be entered in the local language (or languages). The tracked period should be more than one year. Select the area with the population to pay.

Creating software for the gambling business is not a normal development, as standardization, licensing and reliability of developers play an important role here. That is, players must be sure that their money will not be stolen, the probability of winning will not be “fixed” and the developers will provide the right level of protection against hacking and/or unauthorized interference.

That is why we recommend using development services from well-known development companies in the market. In the case of online sports betting, custom development allows additional features to be implemented. It is also useful in terms of marketing.

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The cost of this option can be seen in the example of Bet365. The site is registered in Gibraltar, so 30 thousand dollars were paid for registration, and 100 thousand dollars a year are spent on taxes (the site has several licenses, not only for sports betting). Development of a website costs 80−100 thousand dollars (+ the same amount as a mobile application). Several million dollars were spent on advertising.

Thus, the development of a website like Bet365 costs from 300 thousand to 3 million dollars. Focusing on a small niche can reduce marketing costs, but it has almost no effect on the cost of developing a website. It is worth noting that as an advantage of this route, you will be in full control of the process and will be the owner of the program code.

Their price varies from 10 to 350 thousand dollars. The cost of expensive options includes the website itself (a template with limited ability to customize design and functionality), application, payment processing and advertising. So you just develop a design and a general guideline. In return, you will have to pay a certain percentage of the gross income or profit. Overall, this is a great option for running your website if you have a limited budget.

. The most budget approach to fulfill the amount from 5 to 60 thousand dollars. In essence, you will be acting under someone else’s license as an agent to attract clients for a fixed commission on the clients’ expenses. That is, you will be engaged in marketing and traffic to another website.

Online Sports Betting

In which country should I get the license? Building a sports-based business on the Internet is not an easy task and requires a lot of money and related licensing. Such a license cannot be obtained everywhere, because in some countries such business is prohibited, while there are countries that punish not only entrepreneurs, but also players for online betting. These are mainly Middle Eastern and Asian countries. In Europe, only in Poland are bets completely prohibited.

Learn about a particular country’s relationship with online betting on the «Simons Guide to Online Gambling Legal Status and Laws» page. It is periodically updated and has an interactive map. In the United States, attitudes toward online betting are determined by individual state laws. To find out about current legislation and the latest news on this matter, please visit gamblingcompliance.com. An interactive map is also present.

As a provider of gambling services, your company must apply for a license in the chosen jurisdiction. Consideration of the issue by public authorities can last from several months to a year (depending on the country).

It is advisable to place servers (or use the services of hosting companies) in the country of registration. Therefore, there will be fewer problems with jurisdiction and laws protecting users’ rights and personal information. How to choose a payment service provider? To start a betting business, you need to make an agreement with several payment system providers so that players can easily and quickly deposit and withdraw money from your platform. For convenience, users are recommended to provide as many payment options as possible. At the same time, it is necessary to bet on payment services that understand the conditions of specific regions and adjust their services to these conditions. In the table you will find a comparison of the three most popular payment systems.

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You can use these services or others. The choice depends on the preferences of your target group and the availability in the selected area. Now it is also worth connecting I/O with the help of popular cryptocurrencies.

The backend infrastructure of a betting site includes components such as a bet processing engine, real-time update systems and interaction with a payment gateway.

There are two options for backend infrastructure: outsourcing and in-house development. About 24% of small businesses use outsourcing. This approach provides a favorable cost of services, no need to find a team and post-launch product support.

DWG reports that 50,000 websites are hacked every day. So, to secure your project from hacker attacks, you should use various tools. An effective cyber security strategy will not only help you fight against vulnerabilities but also increase user confidence.

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There is no simple solution to rid yourself of hackers forever. Internet safety is a set of steps you can take to minimize your vulnerability and increase your chances of a speedy recovery.

Which rate system to choose? The calculation of the probability of winning and the amount of winning is the main component of the betting site. The website should explain how the odds work and how they relate to odds and winning amount.

Our company researched the gambling industry. Europe is the largest market, with global revenue reaching $22.4 billion. According to our data, more than 35% of users remain winners, mainly in the age group of 18 to 24. How to start a marketing campaign for a sports betting website?

Creating a sports betting website still does not guarantee the success of your project. In order for the financial model of the betting company to work effectively, pay attention to the arrival of new users and the retention of current users.

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According to Exploding Topics, 20% of new businesses fail within the first two years. Encourage bettors to use and recommend your company not only to create a sports betting site, but to stay in the market after launch.

Projected revenue According to our data, betting is entertainment for most users. This makes watching the match more interesting. About 25% of all players bet with friends, so sports betting sites can actively grow to attract friends through an affiliate program. Typically, sports betting sites earn 2% to 4%. As the percentage of revenue decreases and the software interface becomes more interesting, more users will use your platform. According to the study, the average bet in Europe is between $50 and $70.

Like other software solutions, the sports betting site also has a wide range of prices. Let’s consider the basic price of some software products and alternative solutions offered by our company. A simple sports betting site can cost between $10,000 and $20,000. Depending on our decisions, we may need up to 1-2 months to implement your idea. If you want to launch a more complex project with more than 10 sections, automatic loading of coefficients and an extended management panel, the price of such a solution varies from $ 20,000 to $ 60,000. It will take our team. About 2-3 months to finish the work. If you decide to create a website that competes with the best platforms, in this case, you need $60,000 to $120,000 and up to 6 months of development.