Sports Betting App Development Cost Estimation and Key Features
Looking back in the '90s, no one imagined that the future of sports betting will be so interesting. In 1997, the first betting website was launched and since then it has grown very fast. Before this, betting was risky as people had to visit shops to place bets. Since many fraud websites were also launched, betting online was also risky.
But in 2017, when the first betting app was launched, the business of online betting took a giant leap forward and since then it never looked back. Due to the launch of the betting app, the risk of fraud also reduced to zero. Since technology has advanced, now gamblers can easily place bets just by one click.
But betting or gambling is illegal in some countries, there are some countries like Nigeria, Australia, Belgium, Canada, France where betting is legal. Since in UAE, Japan, Singapore, India betting is illegal, but it is legal in some ways or another. But according to some reports, betting is legal in more than 60% countries.
Although there are still no sports betting apps on google play store. Since there is no age policy for downloading apps from play store. So to stop children from downloading betting apps, google play restricts betting apps on play store. But there are some apps on google play which provide instruction on how to use these betting apps.
Top betting apps like William Hill & 888 sports changed the whole scenario of betting. The owners made so much profit from the app & they are still making. So if you want to develop an app similar to the above apps, then read the article till the end.
FEATURES OF A SPORTS BETTING APP
Initially, betting apps had very few features but as the technology advanced, new & varied features have been enrolled in the app. But the most common feature that all betting apps have, is providing a user-friendly environment and flexibility to users.
There are some other features also like providing a live status of the match, choosing the category of betting, viewing information about each player individually and many more. And all this is done in a smartphone by a single app only.
THE UNBEATABLE FEATURES OF A SPORTS BETTING APP
The basic structure of a sports betting is divided into two parts- the admin panel and the user panel. The features of the app are also divided according to the respective panel.
THE USER PANEL
Most of the features of the app are available for users, which makes it user-friendly and flexible for the users. The features that we must include while developing an app are:-
· Login/Sign Up feature
· Live Updates and Feeds
· Easy payment option
· Category of Sport
· Category of Betting
· Complete User Guide about the App
· Information about each individual player
· Result, Rank, Position
· Summary of entire match
· Updates about upcoming Match
· Selecting desired players
THE ADMIN PANEL
· Admin Login
· Managing all users
· Receiving information from bookies
· Managing the payment and Prize
· Declaration of winner after match end
THE FANTASY USER PANEL
Most of the features of the app are available for users, which makes it user-friendly and flexible for the users. The features that you must include for user panel while developing an app are:-
LOGIN/SIGN UP
Usually, this is the most common and basic feature that the app must-have. Sign Up process must be easy so that the user is able to create an account easily. You can make it more flexible by providing a feature of social media login.
LIVE UPDATES & FEEDS
Providing a feature of live updates of the match directly on the app is the best idea. Since it helps the gambler to watch live how the match is processing & with the help of this feature the gambler can create a strategy before placing any bet.
CATEGORIES OF SPORTS
The options for choosing the type of sport must not be limited. There must be different categories of sport so that the user can select according to his knowledge & interest.
CATEGORIES OF BETTING
Similarly like sport, there must be a category of betting which will help the user to bet according to their need. Users can place there bet through one of the categories. Some examples are Head to Head, Singles, Multiple, Yankee, etc.
EASY PAYMENT OPTIONS
Multiple modes of payment must be available for users. This will help the user in instant online payment. The app must have payment gateway integration so the users can pay money easily according to them.
INFORMATION ABOUT EACH PLAYER
Information of each player must be available for the user, so that, before placing any bet on an individual player, their user can know whether the play is right of placing any bet or not.
SUMMARY OF ENTIRE MATCH
As soon as the match ends, the app must provide the entire summary of the match. It will help the gambler to analyze each player and also he can view the turning points he had missed.
RANK & RESULT
After the match is finished, the user must be able to view whether he lost or won & also the rank he got in the match.
COMPLETE USER GUIDE
There must be a complete user guide for new users or beginners which will help them to understand how to use the app, features of the app and terms & conditions also.
UPDATES ABOUT UPCOMING MATCHES
There must be a list of all the upcoming matches so the user can create a strategy before the match starts. And it will help the user to stay updated about upcoming matches.
FAQ’s
There are some questions which are common for most of the users. So Including FAQ's in user panel is a must. The user can find the solution for the problems he is facing with the help of FAQ.
THE ADMIN PANEL
The task of the admin is quite tricky. He has to manage details of all the registered users, total bets placed, total money, who is winner/loser, etc.The features that you must include for admin panel while developing an app are:-
ADMIN LOGIN
The admin also has to create an account in order to access the details and information of the users. Admin is responsible for updating winners /losers as soon as the match ends.
MANAGING USERS
Managing the total number of registered users, storing information of all users. Admin access the user's information in order to manage the type of bet placed, amount, etc.
MANAGING PAYMENT & PRIZE
The total money received from all the users is managed by the admin. Providing the winning amount to the user who won according to the type of bet through which the user had played.
RECEIVING ODDS FROM BOOKIES
Bookies are the major part of betting. They tell the admin that odds are in favor of which team, also providing the status of the price placed on each team and player.
Admin also notifies the start and end of the match to the gambler. Also, if any user is violating the terms, then he can remove the user any time. Admin can add new matches, delete matches & also admin decides the betting price of each match.
DECLARATION OF WINNER
After the end of each match, the user analyses all the users and declares the winner. Then the user gives the prize money to the user who wins the betting.
THINGS YOU MUST KEEP IN MIND BEFORE DEVELOPING A SPORTS FANTASY/ BETTING APP :-
So if you are thinking of earning great money, then betting is the right platform. If you already have some knowledge about betting then developing a sports fantasy app is quite a nice idea and you are at the right place if you want to learn how to develop a betting app. Read this article till the end and it will surely help you.
LEGAL OR ILLEGAL
It depends on where you are registering your business, different countries have different rules and laws. Gambling or betting is legal in some countries while it is illegal in some countries. Almost in 60% of countries, it is legal but in the remaining countries, it is a crime. Australia is the most legal company when it comes to gambling.
So before developing a sports betting app, you must check whether the laws are in your favor or not. If the laws are not in your favor, then you are committing a series crime.
ACQUIRING LICENSE
The most important thing for registering any business is the licensing of business. If gambling is legal in your state or country then it is well and good. You can acquire a license from the government of your state but it is not an easy task. Security through which you have to pass before registering your business is extremely tough. Since gambling is very likely to be a crime, the financial status of the owner as well as the character is also checked for security purposes.
Licensing is quite costly as firstly you have to pay for the license & then there is a yearly fee for the business as long as the business is running. In some countries, the annual fees depend on the profit received from the business by the owners.
ISSUES WITH GOOGLE PLAY STORE AND IOS APP STORE
Just before August 2018, apps related to gambling were easily available in App Store. But due to some changes in the policy of Apple, all the apps of gambling or apps related to gambling were removed from the App Store, in the countries where gambling is illegal. Due to this policy, some apps that didn't have any relation with gambling also got removed from App Store.
Similarly, until 2007, betting apps were banned in Google Play Store across the globe. But after 2007, few countries got relieved from this ban. But since there is nothing like age policy while downloading apps from Play Store, betting apps are still banned from Play Store in some countries.
NO CONCESSION WITH SECURITY
Since betting is all about money, people are always concerned about how secure the transaction is. So there should be strong and fortified security for the app. Also, withdrawal and payment modes must be easily understandable, so the users do not face any problem while transaction. Since the transaction depends on the server, our server must be highly secured.
Loopholes are major issues with security, users may lose all the money they have earned. You may think of using a single server, but as a lot of money and data are transferred simultaneously, you can't depend upon a single server.
HOW YOU CAN BOOST SECURITY OF YOU APP
- In order to provide robust security, you must note all the risks and threats that may affect you app in any condition.
- The app must have protection for personal debit and credit information of all the users. You must integrate security standards & policies which can protect the transaction and payment from any threat.
- Username & password of gamblers must be secure so that hackers will not be able to hack it.
- If the app is not updated to the latest Softwares& secure servers, then also there is a risk of information being hacked.
PROVIDING ALL THE DETAILS ABOUT BETTING
Your app must have all the details about the process of betting. You must also aware user about the loses he may face while betting since there are chances that a new user may get frustrated from the loss and can delete the app.
EASY UI/UX
Providing an easily understandable and user-friendly UI is the most important concern while developing an app. The app must have an attractive and understanding environment so the users can easily understand the terms & conditions of betting. Also, they should get any information easily which they want.
GAMBLING POLICY
You must provide a responsible gambling policy to the users if you want to win the trust of users. The most important policy that we must introduce is age policy. There must be an age verification process before account creation so that no under-age will be able to use the app.
AVERAGE COST FOR DEVELOPING A SPORTS FANTASY / BETTING APP
Cost varies according to the functions that you will use in the development of our app. The interface must be user-friendly and the app must be flexible. The average cost of developing a sports betting app is between $35,000 to $ 40,000, including developers, back end & everything.
CONCLUSION
Gone were the days when used websites for betting. Now they can bet from anywhere, anytime with their smartphones through the betting apps. We have provided you with all the details about the must-have features of a sports betting app. Users, as well as the owner, can generate a good amount of money from the app. If you want to develop a sports betting app within a budget price, then feel free to contact us anytime.
