Sports Bookie Software Providers & Its Cost – A Detailed Guide
written by Nitin Garg | Oct 21, 2022
Betting has a very vast history in our society. Betting has always been there among people from the beginning wherein they used to bet on any usual circumstance to win or lose. Over the years, betting has evolved and emerged as a profitable business today. Thanks to digitization and advanced sports bookie software that took betting to the next level.
Online betting industry is constantly transforming and evolving with emerging trends and rising interest in sports bookie software development. With this, the betting world has become highly competitive, making it difficult for bookies and sportsbooks to sustain and thrive in the market. Therefore, it has become imperative for bookies to create an innovative, user-friendly, and credible sports bookmaking mobile application that is cut above the rest.
In this blog, we are going to cover all the necessary things that are related to sports bookmaker software development right from a business plan, and features, to development cost of sports bookie software.
Table of Contents
What is Sports Bookie Software?
Sports betting is the most beloved gambling activity that involves the contribution of both punters and bookmakers. Sports punter software is the platform where the bet is placed and it showcases live match results and or an event on which bet is being placed. Online punter software is basically a program that showcases past matches and live match updates, past winning lines, current betting odds to help players analyze and generate successful bets.
The advanced tech stack has transformed the traditional betting systems wherein bookies were hand written. With smartphones and high-speed internet, online betting became a centre of attraction for punters and bookmakers. That’s exactly when sports betting bookie software emerged to make betting more transparent and seamless.
Let’s look at the statistics highlighting online sports betting industry as the most profitable business:
Market analysis of Sports Betting Industry
According to the research, the sports betting industry is measured at $104.31 billion in the year 2017 and it is growing at a fast rate and is expected to reach the value of around $155.49 billion by the year 2024.
The sports betting market is projected to rise from $89.65 billion in 2021 to $99.20 billion in 2022 at a CAGR of 10.64%. While on the other hand, the sports betting market is expected to grow at a CAGR 9.83%, valued at $144.34 billion in 2026.
The reasons behind this growth are multiple, however, digitization has impacted the online sports betting industry the most. If you are planning to step into the world of the gambling business and develop your own bookie betting management software, here is the guide for you!
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Every successful business needs a strategic plan. Likewise, if you want to develop your own betting agent software, you have to first develop a business plan.
To develop your own sports bookmaking software, first and foremost thing you need to do is market research about the sports betting industry. Understand the recent trends, tech stacks, and the popular sports in the online betting industry. Make sure to evaluate and select the best sports betting software provider that can help you customize your software interface as per the trends.
Analyze Your Competitors
The increasing demand for gambling has already augmented the number of sports bookmaker software users in the current betting world. In order to make your bookmaking solution cut above the rest, make sure to analyze your competitors.
Decide on locations, geographies you want to target. Make sure to set standards, goals and your target audience for your sports punter software.
Construct a business model with a blueprint and clear vision. Analyze your business goal and budget, and then decide on other crucial elements such as cost, features, production, services, customer support, revenue source, etc.
Risk Management Strategy
A betting business plan must always have a risk management plan. Your business should have a risk management strategy to overcome the effect of any failure or trouble in the process.
Payment integration is an imperative element when it comes to sports bookmaking software development as it allows users to withdraw and deposit funds in their wallets. Decide on payment integration methods that are safe, secure and easily accessible to users.
Features and language
Punter software includes features for user panel, admin panel and bookie panel. When you create your own sports bookie software, decide on the level of the features and languages that you want to incorporate in your software.
Integrate the best marketing strategies and plans to launch your newly developed betting software. Select the platforms and channels on which you want your software to be promoted.
Role of Bookmaking Software in the Betting Industry
Bookie management software is the platform that gives a digital space to sportsbooks, bettors and bookies to navigate sports betting events. With highly secure payment integrations, high-resolution graphics, advanced tech-stack, and easy-to-use features, sports bookie solutions has made betting a seamless, and uninterrupted activity.
Let’s look at some of the benefits of bookie website software that has revolutionized the entire betting industry:
Privacy and Security
Through the authentication and verification process, the bookmaking solution has increased the privacy and security of users. The betting industry has become much more transparent with the advent of online sports punter software that has integrated the user registration process to keep all the records intact.
Wider Reach and Accessibility
Bookie application has made online gambling easy and accessible to users across the globe. All you need is a browser and high-speed-internet to place your bet. With online wagering software, you can access your accounts to monitor live as well as past match updates 24/7 from anywhere.
In the traditional betting system, it was nearly impossible to keep a constant track of all the bets. However, using bookie software, users can easily control your business with just one platform. Sports betting software can keep a record of the history of players, matches and bets, in turn, increasing your control over business.
Bookmaking software made online betting very affordable. Bookmaking solution companies don’t charge any upfront costs except per-head fee for your players. In a nutshell, punter software has reduced the cost of sports betting services in the sports betting world.
Ease of Use
Bookmaker software is a user-friendly platform that records every bet and automatically grades it. It also supports mobile betting, which makes it an easy-to-use betting platform among bettors across the world.
Real Time Analytics
Punter software allows you to keep a record of your activities in real-time. With the help of reporting tools, you can easily gather data to analyze trends and patterns of the current betting market. In turn, helping you make improvements in your current sportsbook business.
Features of Sports Bookie Software
Sports bookie mobile applications should have supreme-quality, high-performance and user-friendly features to make them cut above the rest. An ideal sports punter solution should have the below-mentioned features:
Sports Bookie Software Feature
Bookmaking software should have odd management tools to ensure bookies offer best odds in the betting market.
Software comes with an admin dashboard that helps admins efficiently manage several betting activities.
Bookmaker software should have advanced tools to create reports from the existing betting data, helping users see the clear picture of the current marketplace, including historical data, real time betting stats and info.
Software should integrate safe, secure and easily accessible payment methods that are globally accepted. Payment methods should offer users a sense of safety and security.
Betting agent software should support mobile platforms to allow users to use the platform anytime and anywhere with just a smartphone and the internet.
Punter software enables bettors to monitor live betting activities, updates, and past betting records with just a few clicks.
It should have easy-to-use, user-friendly features to allow users to perform betting activities seamlessly and easily.
The bookmaker software solution allows bookies to manage all their data from a single panel to provide a hassle-free and smooth betting experience.
Match tracker feature allows to broadcast and showcase the match live to ensure players and bookies keep a track of live events.
Development Cost of Sports Bookie Software
The cost of sports bookie software development depends on various factors, including the level of features, tech stack, and functionalities. On an average cost to build sports bookmaking software is around $30,000 to $50,000. The cost may shoot up to $70,000 and more depending on the level of the software advancement. If you want to develop your own bookie management software, make sure to look for best sports bookmaker solution providers, offering high-feature, supreme-quality, highly personalized punter software solutions. There are various factors affecting the development cost of sports bookie software, which includes:
It is a leading sports bookmaking software for bookmakers. Realbookies is a 20 year old, and reliable sports betting software that provides real rewards to bookies when they bring new players.
William Hill offers next-level application configuration that is amazing and engaging for users. It works with clients with in-play markets and high odd rates. It is for iPhone clients as it possesses a higher position in the application store.
A1PPH is the most reliable sports bookmaker software that allows users to interact and engage more with a feature-rich interface. It is the most affordable bookie solution that can help you generate more revenue, and improve client retention.
As a new bookie software provider, Payperhead 24×7 has become one of the globally accepted and appreciated sports bookmaker software. It offers high-quality features, interface and safe and secure payment gateways to its users.
Premiere Per Head
Premiere Per Head has always been known for its competitive price for bookmakers. The software involves a four-week trial period before buying so that you can analyze its functioning and buy accordingly.
As a leading software development company in the USA, Gammastack provides high-performance, interactive and secure sports bookmaker software with top-notch functionalities. If you are looking for the best sports bookmaker software solution providers, Gammastack is the one-stop-solution for all your development needs.
NuxGame supplies the best sports bookie software for bookmakers, which has all features, functionalities and integrations in place. With years of expertise and experience in the sports betting software development industry, NuxGame can help you create a highly-personalized interface for your sports bookmaking software.
By making the best use of cost-effective strategies, innovation and advanced tech stack, BR Softech offers the best sports bookie software development services in the USA. They use high-quality graphics and user-friendly interface to provide high-performance sports betting experience to users across the globe.
With years of experience in software development in the gambling industry, Chetu is known as the finest sports punter solution provider in the USA. They use the latest technologies, and functionalities to deliver end-to-end bookmaking software development services.
As one of the leading sports bookmaking software providers in the USA, Softswiss uses innovation as the key factor to create high-quality graphics and UI/UX betting design to create easy-to-operate and highly interactive sports bookie software.
Find a Bookie Software That Is Right for You
The success of any sports betting platform depends on the quality of the product provider. Decide on the type of bookie software model you want for your business. Decide whether you want to develop custom build sports bookie software or white label sports bookmaker software. There are several other factors that you must check before developing bookmaking solution, which include:
Bookie software suppliers
Features of bookmaker software
Diversity of games available
Customer support and retention
High security and privacy
Proper fraud management
The concept of online Sports betting has become a centre attraction of many sports enthusiasts and gambing business owners, especially after the pandemic. With the penetration of smartphones and the internet, every other gambling business entrepreneur wants to step into Sports Bookmaker Software Development to generate great revenues.
If you are fascinated by the world of gambling and want to develop your own sports bookmaker software, contact BR Softech, having years of experience in providing sports betting software development services.
What is a good time to launch a betting platform?
Now is the best time to launch a betting platform as the current sports betting industry is booming at an alarming rate. Most sportsbooks are launching their own sports bookmaking software at this time to generate great leads and revenues.
How much does it cost to start a sports bookie software ?
Sports bookmaker software development cost depends on various factors such as features, interface, tech stack, licensing, and marketing. If you are planning to develop a basic sports bookie software, it would cost you around $30,000 to $50,000, and the cost may shoot up depending on the level and complexity of sports bookmaking software development.
Do you really make 100% custom sports betting solutions?
Yes, we at BR Softech offer 100% custom sports betting solutions that are highly-personalised, engaging and feature-rich. We offer sports bookmaking software that includes superior tech stack, odds management, risk management, high features and live tracking systems.
Is it important to share a part of the revenue generated with development companies?
We at BR Softech provide a zero revenue sharing policy which means we take no commission from the revenue generated by sports bookie software.
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.