In many ways, choosing the best betting software platforms to help you run a top-notch online sportsbook is similar to choosing the best casino software platforms. Essentially, what you want to find is a legitimate company that will provide you with legal gambling products, an excellent marketing strategy, quality customer support, diverse secure payment options and a flexible, fast and smooth UX for desktop and mobile. However, obviously, the major difference between sports betting and casinos is the type of gambling offerings you provide. Here, we’ll take a look at the types of products, services and features offered by today’s best betting software solutions.
How to Choose a Sports Betting Platform
Online sports betting is a multi-billion-dollar industry, and its popularity grows annually and has increased in recent years due to better mobile technology, greater mobile accessibility and the legalization of this form of online gambling in the United States.
To put this into greater perspective, according to industry statistics released by the UK[AG1] Gambling Commission, between October 2018 and September 2019, the total GGY (Gross Gambling Yield) for remote (online) betting was £2.1 billion (US$2.7 billion), which was a 4.3% increase from April 2018 to March 2019.
If you’re lucky enough to find a solid foothold in this industry, you could set yourself up for a highly lucrative business opportunity.
Of course, your success depends on a number of different factors and starts with you obtaining the best sports betting software platform. While you have the option to build your digital bookmaker operation from the ground up by obtaining deals with several different software providers, nowadays there are plenty of platforms that can provide you with convenient and dependable white label and turnkey solutions to help you get your business up and running faster and more affordably.
With that said, to help you in your search for the most optimal platform, here are the different types of products, services and features that make for an outstanding online betting platform.
Today’s bettors, or punters as they are commonly referred to in Britain, expect a lot from online bookies when it comes to the types of markets they can bet on and the types of bets that they can make. The following is a look at the top betting offerings the industry’s biggest and best bookmakers provide:
- casino games this type of gambling entertainment uses random number generator (RNG) technology to determine the outcome.
Who are the best online betting providers?
There are a number of excellent online betting software suppliers. That said, the following suppliers are among the best as they provide top-tier betting software to some of the industry’s biggest and most popular online sportsbooks. These software providers include:
Appropriate betting licensing
Just like online casinos, legally operating an online sport book requires a legitimate industry license. The type of license you will require is dependant on where you intend to offer your available gambling activities.
While a licence from Curaco or the Malta Gaming Authority will grant you access to a number of jurisdictions, if you want to operate in the United Kingdom – the biggest sports betting nation in the world – you’ll require a license from the UK Gambling Commission. Only a valid license from the UKGC will allow you legal access to Britain’s residents. Without having this or any other appropriate license you may need, you are likely to face massive fines.
Being licensed ensures that you are adhering to specific rules and requirements mandated by the gambling regulator, including ensuring a fair, secure and responsible operation.
The easiest way to obtain a license is through a betting software platform that offers a white label betting platform. The reason is that the license is included with the platform. However, if you want to have more control over your operation and are seeking a turnkey or an à la carte integration, you will need to apply for and obtain a license yourself. The good news is that some platform providers offer services to help you obtain one.
Mobile-first with a seamless UX betting interface
The sportsbook software you choose needs to be compatible with all devices. We live in an increasingly mobile-driven world, so it’s no longer sufficient to operate a desktop-only platform. The best online betting software platforms are mobile-first with HTML5 software. In addition to being accessible via mobile web, mobile apps for Android and iOS devices are also becoming more commonplace and expected by players.
The front end of your site must be flexible, with a smooth and fast interface that delivers easy navigation and accessibility. Sports bettors need to be able to find the latest betting markets and odds simply and quickly. Additionally, customers need to be able to conveniently load their bet slip with selections, with an easy way of betting singles, multiples or any other form of combination bet, as well as see their latest bets and corresponding Cash Out values. Without these components, your customers will take their business to the competition.
Beyond the front end, the back end of your site must be strong and reliable in its performance and deliver the necessary statistics, reports and analytics in real-time that can help you keep track of your customers and their betting behaviours and trends. A powerful back office with quality reporting tools and risk management systems will help you to run and manage a solid and responsible sports betting operation.
Also, it’s imperative to have a highly responsive site that can handle bulk traffic 24/7, even during peak betting times, such as when a certain major game or event is about to start. Your site not only needs to be up, but also stable and fast so you don’t end up losing your customers to your competitors.
Betting payment options
Multiple types of trusted payment methods is a must, especially if your intention is to reach a global audience. At the same time, it’s also a good idea to make sure you are offering the most popular local payments if the goal of your sportsbook is to focus on players from certain jurisdictions.
Popular types of payment options offered by bookies include Visa, Mastercard, Neteller, Skrill, PayPal, Paysafecard, and Fast Bank Transfer. Essentially, it’s usually a combination of credit and debit cards, eWallets, prepaid cards and bank transfers. Of course, the specific type of payments you’ll want to offer will vary by region.
Additionally, mobile payment apps like Google Pay, Apple Pay and MuchBetter are also worth considering. Moreover, a greater number of sportsbooks have also broadened their payment solutions to include decentralized cryptocurrencies like Litecoin, Ethereum and Bitcoin.
No matter what type of payment processing system you choose, make sure that the sportsbook software platform provider who supplies it also ensures that the system is fully secure, including KYC checks for customer identity verification, anti-fraud measures and SSL encryption protocols
Retention strategies matter Betting bonuses and promotions
As previously mentioned, sports betting is big business in the UK and around the world. Although you have every opportunity of making your mark in this massively lucrative industry, you need to not only focus on drawing customers in with sign up offers and affiliate marketing, but also with effective retention strategies.
Clever and dynamic marketing strategies are a must to keep punters wanting to return to your sportsbook. It’s not enough to be mobile responsive and offer a wide range of markets, live betting and odds data. You also need to show your customers that you recognize their value and give them a reason to stick around.
Therefore, when looking for the best sports betting software platforms, make sure they offer you the types of promotional tools and systems and will help you get the most lifetime value out or your customers. Beyond new customer offers, this may include:
- CRM tools, you can create unique marketing campaigns to generate customer interest and provide bettors with offers and promotions that are most likely to appeal to them based on their preferences, and deliver this information directly to their phone via SMS or their email inbox.
- rewards loyalty with extra benefits and exclusive perks is a great way to keep customers coming back and keeping happy and satisfied high rollers.
A smart and well executed retention plan is key to turning a profit.
Betting customer support
Reliable and multiple language customer support is a must if you’re seeking global reach for your betting business. Customers need to be able to reach player support services quickly and receive a timely response. Live chat and email are the bare minimum of what should be provided and the longer customer service is open and available the better, with 24/7 customer support being the main objective, especially in the primary language(s) of your target audience.
The type of customer support you receive from the company that provides you with your sportsbook solution also matters. You need to make certain that you can reach support any time of the day or night. If your betting business is open around the clock, so should the appropriate support channels for the provider of your platform.
Best Online Betting Platforms
There are many phenomenal online betting platforms that can help you build and operate the sportsbook of your dreams. However, the following software providers are among the best in the business:
EveryMatrix offers an impressive solution for sportsbook operators called OddsMatrix. It includes a sportsbook platform, sports data feeds and feed aggregator, delivering a complete sports betting solution. OddsMatrix provides competitive sports and eSports coverage, real-time and reliable betting data, industry-leading accuracy and a huge range of markets.
This solution gives you access to a fully-managed, API based, flexible and modern sportsbook platform with an extensive range of features; a data feed that covers 70,000+ live events per month, providing odds stats and scores; an eSports service with 50,000+ live eSports events every month, and a feed aggregator that allows bookmakers to combine odds, score feeds and settlements from various providers into one aggregated feed.
Digitain provides sportsbook software solutions for operators across the globe who run land-based and online betting businesses. It offers API or Bespoke integrations and ensures fully flexible, scalable and reliable localized, comprehensive, multi-lingual, multi-view branding solutions. Digitain is able to meet the demands of existing platforms, online casinos and land-based sportsbooks as well as support start-ups seeking to break into the industry.
Among the key features of its sportsbook include: 70,000+ real live monthly events, 15,000+ international leagues, 3,000+ betting markets, 40,000+ pre-match monthly events, 100+ sports, risk management tools, 170+ software developers, 700+ in-house traders, multi-lingual functionality and native apps.
Knockout Gaming offers a fully-managed sportsbook solution that is customizable to any brand. The platform includes odds compiling, event creation, customer support, risk management, bet settlement and payment processing. There are thousands of pre-match, prop bets and live betting opportunities.
At a glance, the sportsbook solution includes 35,000+ events, 30+ sports, 20,000+ live-match betting and 23+ live sports, a fully customizable interface, live streaming events (e.g. soccer, tennis, basketball, volleyball, squash, etc.), and a variety of other features including (but not limited to): multicurrency and multilingual support, diverse betting types, full-time odds management, bonus platform, real-time player activity and sportsbook performance reporting, customizable player limits, etc.
Bet Construct is regarded as one of the leaders in betting software and offers a variety of scalable solutions including white label, turnkey and API solutions. BetConstruct works with some of the biggest names in the sports betting industry, including VBet, Royal Panda, Betsson Group, STS and EnergyBet.
Among its betting software products you will find a sportsbook with 45,000 live matches, 75,000 pre-match events every month, 120+ sports types, all available in 20+ languages; an eSports betting suite that includes 12,000+ unique live events monthly, 5,000+ pre-match events and the most famous eSports championships like League of Legends, DOTA2, Overwatch and more; as well as 9 different virtual sports in full HD and HD graphics.
What is the Best Betting Software Platform for You?
While there is plenty of money that can be made operating an online sports betting business, you require essential components so that you can compete in an already saturated marketplace.
The best betting software platform is one that is dependable, legal and can provide you with the most up-to-date sports betting data and technology expected by today’s online punter. Having the necessary product offering, an effective marketing strategy, promotions and a seamless, fast-functioning mobile-first UX will help you to be a worthy competitor.
Choosing the solution that is optimally suited to your personal business goals and budget will take time and dedicated research. TCS can help you get to know the top betting software platforms via our quality iGaming reviews. Just remember that when it comes to finding the best, ultimately, only you can determine what that means for you.