How to Create a Sports Betting Website
According to the Zion Market Research report, over the next five years, the world market for sports betting expects a steady growth of 9% per year, with much of the growth being achieved "thanks to the digital revolution that changes the world every second." Therefore, if you plan to create a sports betting site, now is the time. Our article will tell you how to do it correctly and legally.
What you need to run a sports betting site:
Creating software for the gambling business is not a typical development, since standardization, licensing and credibility of software 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 "tied up" and developers will provide the proper level of protection against hacking and / or unauthorized interference.
That is why we recommend using development services from well-known development companies on the market. In the case of online sports betting, custom development allows you to implement additional functions. It is also useful in terms of marketing.
Three development approaches:
Completely customized solution. The cost of this option can be found on the example of Bet365. The site is registered in Gibraltar, so the registration was paid 30 thousand dollars, 100 thousand dollars a year is spent on taxes (the site has many licenses, and not just for sports betting). Website development cost 80−100 thousand dollars (+ the same amount per mobile application). Several million dollars was spent on promotion.
Thus, the development of a site like Bet365 will cost from 300 thousand to 3 million dollars. Focusing on a small niche will reduce marketing costs, but this will have almost no impact on the cost of developing a website. As an advantage of this way, it is worth noting that you will fully control the process and will be the owner of the program code.
Using White Label. Their price ranges from 10 to 350 thousand dollars. The cost of expensive options includes the site itself (a template with a limited ability to customize the design and functionality), application, payment processing and promotion. So you will only develop a design and general guidance. In return, you will have to pay a certain percentage of gross income or profit. In general, this is the best option to run your site if you have a limited budget.
Become a Licensee Licensee. The most budgetary approach to meet the amount of from 5 to 60 thousand dollars. Speaking in essence, you will work under someone else’s license as an agent to attract customers in exchange for a certain commission on their expenses. That is, you will be engaged in marketing and traffic to another site.
No matter which path you choose, make sure the software meets the following requirements:
When choosing jurisdiction, consider the following:
Most online gambling companies choose the following jurisdictions:
You can use these services or others. The choice should depend on the preferences of your target group and availability in the selected region. Now it is also worthwhile to connect I/O with the help of popular cryptocurrencies.
Given these figures, with 1,000 active users daily, you can receive from $1,000 per day:
1,000 users * $50 * 2% = $1,000 / day
1,000 users * $70 * 4% = $2,800 / day
So if you run an aggressive marketing campaign, you can make over $30,000 a month.
Our company develops gambling platforms of varying complexity. If you have any questions, feel free to contact us.