An Exclusive Guide To Create Horse Racing Betting Software
written by Nitin Garg | Nov 02, 2022
Horse racing betting has always been one of the most popular forms of gambling. Millions of people around the world are involved in gambling using sports betting software and websites. With digitization, the sports betting industry has changed drastically to the core. Now people can bet without flying across the border and can enjoy the live feed at the convenience of their homes.
We can say that digitalization introduced a new dimension in the sports betting industry, where both punters and bookies can get benefit from the same. Online horse racing betting software and platforms took gambling to the next level. The online gambling platforms also opened new doors for gaming entrepreneurs to invest in sports betting applications and sports betting software to generate great revenues.
With horse betting software or apps, you can discover the virtual world of sports betting using a smartphone and internet. Through the horse racing betting app, you can check the latest racing news, tips, updated racing event information, horse racing odds, live scores, etc. The Horse racing betting apps have become famous and reached the screens of millions of users today. If you want to enter the online horse racing betting world, scroll to know everything from benefits to top horse racing betting solutions.
Table of Contents
What is Horse Racing Betting?
Horse racing betting is a very popular type of gambling among punters across the globe. It is a type of sport where punters put their money on racing horses taking part in the race. The winning probability of the game depends on the horse you choose. If your chosen horse wins the race, you win the bet. Horse racing betting platforms are increasing at an alarming rate after the penetration of smartphones and the internet.
Why is Horse Racing Betting Famous?
Horse racing is one of the most popular sports in the USA. Thousands of people enjoy betting and look for the best horse racing betting systems. It has been a part of our culture for ages.
The first racecourse was set up in Madras in 1777 and since then its popularity has touched the sky.
The popularity of betting took sportsbook software development to the next level and made it more lucrative. With digitalization and advanced technology, this 200-year-old sport is now available to live on your smartphones and websites. With just a few clicks, you can witness live updates, scores, past records, and much more.
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If you want to enter the world of gambling then horse racing betting software is the right investment for you! You must be wondering why? The popularity of online horse racing betting has reached to the next level. People who don’t even like watching football or baseball matches, they check the live updates of horse racing events on their smartphones. Horse racing has become a great pastime for people who used to see gambling just as a source to earn real rewards.
In a nutshell, the rising popularity of horse racing betting, penetration of smartphones and high-speed internet have contributed to the success of horse racing betting platforms. Horse racing betting software helps punters and bookies to enjoy real-time betting matches with seamless gambling experience. Moreover, the horse racing betting apps have made gambling reliable, and transparent.
Straight Wagers is good for beginners, it’s a whole new experience for those who have never gambled in horse racing. It’s entirely different from sitting in the smoky casino and placing the bet. Horse racing is a lot more entertaining than you can imagine. With Straight Wagers, you can only bet on one horse.
Win: – Win is for those who are placing their bets on the horse who will come first. If the horse you bet on comes first you get to collect the win amount.
Place: – If you are betting on your horse to “Place” that means if your horse comes first or second you will get payout although the payout will be lesser as compared to Win amount.
Show: – Using this option, your horse can come first, second, or third. This option increases the winning probability and provides a higher chance of winning.
Across the Board: – Across the board, Betting is also known as combo straight wagers as it offers a combined bet of Win, place, and show. This three in one best option is a bit expensive as compared to Win, place, and show and have less profit potential.
Place/Show Win/Place: – In Place and Show if your horse comes second you collect the place and show both betting amounts, and If the horse finishes third you only get the show betting amount. Same way if you place a bet on Win and Place both and if your horse wins you get both win and place amount and if your horse comes second then you only get to collect Place money.
Exotic Wagers allow players to bet on plenty of horses in a single bet. By placing the bet on exotic wagers, you increase profit potential. Exotic Wagers are much harder to win than straight bets and require greater skills in horse racing handicapping.
Exacta: – Exacta is also known as Perfecta and Exactor. In exacta, better picks two horses to finish in the first and second place position which is win and place in exact order. To win the betting amount both horses must finish in the chosen order.
Quinella: – Quinella betting allows you to bet on two horses to come in any order. In Quinella betting, the payoff will not get impacted regardless in whichever order they come in.
Trifecta: – To place the trifecta bet one must choose three horses. All three horses that you believe will finish first, second and third must finish the race in the same order. If the horses finish the race in the same order you will win the bet.
Superfecta: – Superfecta allows you to choose horses and finish the race in exact order. It gives you the chance to choose four horses that will finish the race in First, second, third, fourth in the exact same order you have selected. The minimum bet in Superfecta is 10 cents, which makes it more lucrative.
Understand both the types of horse racing and place the bet wisely. One of the most efficient ways to place the bet is by getting familiar with reading the race day program and looking closely what class level the horse has been racing at. You can choose from top horse racing betting sites like Betfair and 888Sport and enjoy the extensive range of international horse racing.
Benefits of Horse Betting Software
Gone are the days when betting records were written manually on paper. Sports betting software has made online gambling much more secure and transparent. It secures users information in a manner like none other.
Enhanced control over odds
With horse betting software, you can easily edit, organise, manage and control your odds in a hassle free manner.
Horse betting software ensures risk-free betting experience by providing users with high-risk control or management tools.
Outstanding betting experience
Betting software offers seamless and uninterrupted betting experience with high-quality graphics, and advanced features.
Real time reports and analytics
Betting software provides users with error-free, real-time reports and analytics, helping them in making better betting decisions. Software allows users to check live match updates, past betting scores, and odds.
From the above-mentioned benefits, it’s quite clear that horse racing betting software development would be highly profitable in the current gaming market.
Through this feature, users can create their profile and register themselves on the platform using phone number, social media account or Email ID.
Through this feature, users can link their payment accounts or cards to the platform. This enables them to do transactions in a seamless manner.
Real time updates
Software should provide users with live betting updates, statistics, past records and analytical reports to make accurate betting decisions.
Multiple currency and language support
Software should incorporate multiple currencies and languages to provide seamless betting experience to punters across the globe.
In case of queries or issues, excellent user support should be provided to the users. The support should be constant and must be given 24/7 to provide customers with instant replies.
Through this feature, users get the latest updates like match results, important events and new match information. This helps to engage and interact with users.
This feature helps in guiding new users about the latest updates, rules and other necessary information related to the match.
Admin Panel Feature
Through this feature, admins manage everything from user performance to sports bookie performance. This feature allows admins to get the updates about the live match, past records, latest stats, reports etc.
This feature allows admins to manage their users by monitoring their activities. Admins can access all the details, including betting type, style, amount of bet placed,etc.
Besides managing punters, admins also manage bookmakers or bets made on particular matches. They can also set the price of each bet made for a game or match.
Admins manage the transactions made by users using advanced tools. They ensure the safety and security of transactions.
Cost to Develop a Horse Betting Software
With basic features and functionalities, the cost to develop a horse betting software is around $20,000 to $40,000. However, the cost may shoot up to$80,000 if you want to incorporate advanced technology, features and functionalities in your horse betting software.
There are certain other factors that impacts the overall cost of horse betting software, including:
Things to Consider While Developing Horse Racing Betting Software
Horse betting software must include search features and give users access to find things they are looking for. It must have social networking capabilities with less keywords and more touch based. Give users the option of freedom of expression.
Attract the audience by providing them with innovative and attractive app design. The design must be unique and lucrative for end viewers and allow them to best and enjoy live streaming.
Service is the key part of any app and website, hence wisely choose the services you are going to provide your customer and stay ahead in the competition.
Developing Team: –
Development team is the heart and soul of the software. Make sure to develop your sports betting software by expert developers who can bring life to the app.
No one wants to invest where risk is involved, hence, providing the customer with unbreakable security is of utmost importance.
Betting odds: –
Make sure to reflect the correct information about the team and their performance. Gambling is all about information, hence, your source of information should be correct.
Betting is loved by all the people around the world, therefore, to make your app worldwide popular add various languages. This option allows people to indulge in gambling and make the most of it.
Live Game Streaming: – Provide live game streaming and make your app go-to-app for users for greater user experience. Live game streaming helps people to gamble and enjoy the game as per their convenience.
We hope you might have got an answer for how to create horse racing betting software. If you are looking to develop horse betting software, BR Softech can help you do that! As a leading App Development Company, we offer an extensive range of horse race betting solutions with a comprehensive range of features.
Horse racing software systems include many lucrative features and allow people to enjoy the benefits of this app. Not just that we offer Soccer, Football, and cricket betting software for bookies all over India and around the world. With sportsbook software development, we offer people to experience great horse races, high odds, and live streaming of all the different races.
How much does it cost to develop a horse racing betting software?
The cost of developing a horse racing betting software is around $30,000 to $50,000. This is not a definite cost, as there are different factors affecting the software development cost, including the location of the developer, graphics, animation, and features. Read More
How much time does it take to develop a horse racing betting application?
Ideally, it takes around two to three months to develop a horse racing betting application. The time may differ due to several factors, including the complexity of the project, type of software, level of expertise, etc.
Can I Select my horse racing software or Application template?
Yes, you can select your own horse racing software or application template with customizable features and interface flexibility.
I am Nitin Garg Founder of BR Softech PVT LTD - an Award-winning, app, web & game development company. We are armed with 180+ geeks & 2753 clients worldwide, I have driven by the spirit of entrepreneurship and dream to build a billion-dollar-company.
BR Softech Pvt. Ltd. excels in providing cost-effective IT Solutions. Established in August 2012 with over 10+ years of rich experience. An Apex rated IT serving company around the world. Our team of innovative and creative designers deals in web designing, and mobile game/software development intending to deliver outstanding digital outcomes.