Sports betting app development is in vogue in the present epoch. The world of betting got a huge leap in technological advancements. Through the technology-driven evolution of sports and betting apps, users are now more enabled to leverage their betting skills and experience and earn exponentially.
If you are a business visionary and wish to dive into the world of sports betting app development, you have landed on the right page.
In this post, we will discuss the various crucial aspects of sports betting app development. We will reveal the secrets of hiring sports betting app development company. You will also learn how much it cost to build sports betting mobile apps and many other related dynamics.
Get ready to roll the dice and win!
The Sports Betting Industry and Some Interesting Growth Numbers
- The sports betting industry earned $4.3 billion in 2021 in the USA.
- Sports betting revenue across the USA increased by 65% in the first quarter of 2022 and hit $1.58 billion.
- The global sports betting market is recorded at $76.75 billion in 2021. It will grow at a CAGR of 10.2%.
- By the year 2028, the global sports betting market is expected to be worth $179.3 billion.
- The market analysts believe that the industry is expected to register high gains of around 8.83%
The distribution shows the market segmentation of sports betting applications based on different types of games. It also shows the popularity of the game in the market so that whenever you hire sports betting app developer, you keep the points into consideration.
- Football holds a 23% market share.
- The horse racing market is the second-largest market share holder. It will grow at a CAGR of 10.3%.
- Basketball and Baseball will grow approx by 10%.
Important Things to Consider Before Sports Betting App Development
Development of sports betting app is a long and daunting task that requires one’s efforts, time, and of course, lots of money. We certainly don’t want to invest our money with the wrong sports betting app development company.
Here’s a list of a few things that you can keep in mind –
- Do proper research on the online betting industry and asocial risks.
- Integrate responsible game policies keeping factors of juvenile and minor gamblers into consideration.
- Always focus on having eye-catchy and pixel-perfect UX/UI for the app. It helps the user easily navigate through the app, understand the app’s functioning, and improve user engagement.
- Have a proper management arrangement for payouts, bets, and real-time alterations, to name a few.
- Never compromise the security of an app. The involvement of money makes security the most crucial factor to consider in sports betting app development.
The Must Include Features in The Sports Betting Applications
Key Features to include in the user panel of sports betting apps –
- Easy to register and sign in to the module.
- The feature allows users to create personalized accounts with important personal information.
- A detailed betting guide document will be a perfect start for users.
- Live score features that give details of ongoing games.
- The feature of result notifications gives users detail of the result of the bet they have placed.
- The sports available section in the app enables users to choose the game of their choice available in the solution.
- The scheduler feature will give details of the matches scheduled. It helps gamers plan their bets and bet timing.
- Betting patterns feature contain different kinds of models such as spread-betting, totals, etc.
- The ranking feature allows gamers to place their betting based on the ranking, which gets updated on real-time statistics.
- The upcoming event feature gives the details of all the upcoming matches.
- The in-app chat feature facilitates users to chat with each other.
- The offers, discounts, and seasonal offers attract users and keep them engaged with the app.
- Multiple payment gateway integrations are essential. It facilitates users instantly pay betting prices via credit card, debit card, in-app wallet, net banking, UPI, etc.
- Make your app multi-lingual. It will increase the reach of the app and the user base.
Key Features to include in the Admin Panel of sports betting apps –
- The user management feature in the admin panel allows the app admin to supervise the actions of bettors and regular gamers.
- The prize management feature allows the admin to manage payments received as bet money. The payment feature facilitates the process of prize distribution among the winners.
- Admin can perform seamless game management, modify bet limits, manage events, and observe ongoing matches.
- The dashboard features allow the admins to control everything in an app in a consolidated manner. The dashboard gives a 360-degree view to the admin about the app’s activities, user behaviour, user activities, and the app performance.
- Having a strong booker feature is a must for any sports betting app. In its’ presence, it is impossible to bet. The booker management feature allows the admin easily manage the betting process.
- Include marketing tools in the sports betting app development services. With the help of marketing tools, admin can implement marketing strategies like email marketing, social media marketing, personalized texts, etc.
- Integrate CMS with your app. It allows admins to manage, modify, create, and access content at their discretion.
- The revenue management feature in the sports betting app helps the admin manage the generated revenue from the betting.
The list of advanced features to include in the sports betting app
- Mobile wallet
- Audio updates
- Fast betting
- Live to stream
- In-app video call
- Social sharing
- Reviews and rating management
- Winner management
- Ads management
- Feature to predict scores
- Getting inputs from bookies
Cost of Sports Betting App Development
It’s time to discuss how much it costs to develop sports betting mobile applications. The answer to this question is not as easy as it seems. Sports betting app development is a multi-step process that requires different levels of technologies, different levels of experts, locations, and many other factors.
The ballpark figure of the sports betting app with the basic features will be around $30k to $35k. As you integrate the advanced features the cost will rise and it can go up to $42k.
Hire Sports Betting Mobile App Development Company – The Conclusion
We have discussed various features – basic and advanced – that will make your sports betting app a successful project. Merely understanding the features is not sufficient. We suggest you cautiously hire a sports betting app development company or individual sports betting app developer.
The online sports betting industry is growing, and it is the right time you leverage the multi-billion dollar industry and grow with the market.