How to create a Sports Betting Website – Halkwinds

App Development
May 1, 2020
Create a Sports Betting Website

The Sports Betting industry was valued at 12.5 Billion US in 2019, with a projected growth of 17.5 Billion US by 2025. However, initially, this was the same industry that was looked down upon in the name of gambling.

But, all thanks to the "digital revolution" and the way this industry is being marketed has changed the whole scenario. Understanding that this industry has a huge potential, many entrepreneurs want to start a sports betting website.

And, they are not wrong either. But, the very important and very first step is to have an idea of how to create a sports betting website.

So, let's see how to start a betting website:

Sports Betting Website Development

  • Choose a niche: The very first step before starting our website is to know which sport we are interested in. It can be football, basketball, or soccer, etc. Though, there are magnets in the industry like and which deal with a lot of sports at the same time. But, it is advisable to create your betting website with one sport initially.

    For instance, in Europe, soccer is popular, so if your target audience is of your Europe, then soccer is what you should opt for.
  • Efficient Approach: You need to be careful while choosing your developer. There are three popular approaches. You can choose anyone from them:
    • Completely Customised solution: This approach makes you the sole owner and you can completely control the process. Although, it is expensive as it can cost you from 300 thousand dollars to 3 million dollars. Bet365, one of the leading industrialists, is applying this approach.
    • Be a licensee: This is the most budget-friendly approach as you will work under someone else's license to have your customers. This will cost you 5 to 60 thousand dollars.
    • Using White Label: TThis is one of the best options which can give you the authority of your website without burning a hole in your pocket. It will cost you around 10 to 350 thousand dollars. You will be able to customize the design, its application modes, and processing.
  • However, no matter whatever approach you choose, you should not forget to have:
    • Custom Relationship Management system
    • A rate card table
    • Multi-currency gateways
    • Licensed software
    Don't worry!! We here guide you exactly which approach is best suited for your requirements. Hence, creating an exceptional sports betting website.
  • Choosing a country to get a license: YThis is not as easy as it sounds. Having a sports-based business requires a lot of money and a corresponding license. Some countries in Europe and Middle East Asia have strict laws against gambling. It takes seven months to a year to have your license. We need to make sure to go through the various details like fiscal charges, cost, and duration of obtaining the license, state's reputation, licensing requirements from legal authorities.

    Some of the best jurisdictions are:
    • Curacao: There is one type of license for bookmakers, casinos, and game slots. It has no strict requirements with a tax rate of 2% which is lower than in other countries.
    • Costa Rica: It is more than glad to hand you over the license but with two conditions: first, your casino should have a physical presence in their country and second, their residents should not use it. The cost of a license is two thousand dollars a year with no tax liabilities.
    • Isle of Man: It is also a budget-friendly country with no strict laws and a tax deduction of 1.5 percent if your company is making a revenue of $20.
    It is advisable to place the server in the country of your jurisdiction to save the user's personal information and rights.
  • Payment Service Providers: It is advisable to provide as many service providers as possible. PayPal, Stripe, and are some of the famous payment service providers.
  • Must-Have Features: Apart from some USP, there are some must-have features that you can't avoid. These features are: Login, bid results, choosing a bet, bid help, team & player information, payment systems, management of their winnings, etc.
  • Choosing a Betting System: Every country has its betting system. The calculation of the probability of winnings & the amount of winnings is a key element. For Instance, in America, signs like "+150 and -250". The number on the left shows how much money to put and on the right, it shows the amount which you will win
Sports Betting App Development

Europe is the hub of the betting industry. The revenue reaches around $22.4 billion. The sky's the limit for this betting arena. So, if you see yourself rising in the industry, Halkwinds always have your back.

Our Sports Betting Website is all that your client needs!!

Without further ados, let's get started!!!!!!!!!!!

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