Sports betting is one of the most complex and fastest growing sectors in the world offering tremendous potential for both bettors and sportsbooks. It is one of the most popular industries to build a highly profitable business. The main reason why sports betting is so famous in the USA is that it is legalised. There are various sports betting software for bookies that can be used and there are various sports betting software development companies that make it popular.
According to the reports, international sports betting is likely to have a market capitalization of $250 billion. A report issued by gambling.com says that the sports betting software industry was valued at $104.31 dollars in 2017 and is estimated to reach $155.49 billion by 2024. In 2018, 67% of the Americans accepted that they gamble.
Betting software for bookies have a variety of features and functions. Here are some of the basic features that you should keep in mind while developing the best sports betting software
- Payment system
- Odds from numerous sources
- Public betting trends
- Sports News
- Watch live games
- Pop – ups
There are various companies that have come up with their own sports betting software for bookies to cash into this trend. Some of the sports betting sites with huge success are bet365 and William Hill. If you want to create the best sports betting software and delve into a different experience, then follow these steps –
Set up a theory – Everything begins with an idea. After the idea generation, set up a hypothesis for the testing purpose. There must be a theory to explain why this software is useful.
Read More: How to Start an Online Betting Business in 7 Key Steps
Collect data and decide a sample size – You can collect data either from the primary or secondary sources, as there is incredible amount of data available about the sports industry. You can collect data from individual players, betting lines etc. Then select the size of samples, which will in turn help in determining the level of confidence in the software.
Set up a user panel – This is the section where users land on. It consists of sign in, live scores, betting tips, betting patterns, etc.
Select the betting type – it helps users to select the betting type and categories according to the game.
Set up the admin panel – This is for the admin’s use. It is used to manage the existing users, add new users, betting prices for different games, etc.
More advanced features – You can add a few more advanced features that will help your app to stand out like pay and bet instantly, promotions, offline connection, watch match details milti-lingual, watch real-time matches, etc. and help you to build one of the best betting software.
3 Things To Remember While Building The Best Betting Software-
- Betting business is not legalised everywhere, so it is important to keep in mind. Also, you need to get a license from the Gambling commission to get it legalized. This process takes more than half a year.
- Choose a scalable server as the number of people are going to increase over the period of time.
- Choose a merchant account for a smooth and secure credit card processing and gateway.
If you need any assistance regarding the sports betting software development contact Mobiweb.