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The sportsbook industry is experiencing unprecedented growth. In fact, the global sports betting is projected to reach $124.39 billion by the end of 2025, according to the Business Research Company.
As a result, there is a growing need for sportsbook solution providers who can offer effective and innovative solutions for the growing demand in this sector.
Sportsbook solution providers offer everything you need to set up your own online sportsbook platform. They provide software that allows you to take bets from customers and pay out winnings when requested by players. Some software also allows you to set up rules such as parlays and teasers which add excitement to any sport’s season by allowing players more flexibility when placing bets on games they want to win.
What Does a Sportsbook Solution Provider Offer?
A sportsbook solution provider will also offer you with a host of other services. Some of these include:
Customer support
Sportsbooks have a wide range of customers, ranging from advanced bettors and casual gamblers to new players who need help with their first bet. A good sportsbook solution provider will offer 24/7 support by phone, live chat and email to ensure that all customers receive personalized service.
Security
A sportsbook solution provider should have an experienced team of developers who can build secure systems that protect user data and funds.
Hosting
The hosting company provides an online platform where you can build your site and run it at scale. The host will also provide technical support if any problems arise during operation or maintenance.
Payment processing
Sportsbooks need a way to accept payments from players and send payouts to winners, which is why many use third-party payment processors like Neteller or Skrill. These companies specialize in handling financial transactions online, ensuring they're secure while they process hundreds of thousands of dollars each week.
Advertising
Some sportsbooks offer advertising programs that let you display your own ads on their websites. This can be an effective way to drive traffic to your site while maintaining a relationship with another company in the industry.
7 Things to Look For Before Picking a Sportsbook Solution Provider
Sportsbook software solutions are designed to make it easier for sports bettors to place bets online and manage their accounts. The best sportsbook software solutions will help you manage your account, make deposits and withdrawals, transfer funds between different accounts and view your betting history.
If you’re looking for a sports book solution provider, there are several things you should look for before making your selection:
Support and training
The most important thing you need to look for when choosing an online sportsbook software solution is support. Your vendor should offer you plenty of ways to get in touch with their team, including email and phone numbers. They should also provide live chat or other forms of instant messaging so you can get answers quickly and easily. Not only that, but they should also offer training on how to use the platform and make it easy for new users to get up and running. Some platforms have training videos available online or even tutorials in app form for mobile devices.
Scalability and flexibility
You need to make sure that your sportsbook solution provider has the ability to scale with your business as it grows. While this may not be a major concern in the early stages of opening your sportsbook, it’s something that could come back to bite you later on down the line if you don’t think about it now. The last thing you want is for your site to go down during peak hours because your service provider didn’t anticipate this happening and didn’t plan accordingly.
Customization options
The ability to add new features and functions is an important consideration for any business, especially if you want to adapt your site as necessary. You should be able to customize your sportsbook according to your needs by adding new games, changing colors or fonts and changing other elements that make it look more attractive and professional. This can also help with SEO and getting more traffic from search engines.
Mobile betting apps and website compatibility
If you're planning on using your mobile device to bet online, then it's important that the sportsbook offers an app that is compatible with your phone or tablet. You don't want to have to download a bunch of different apps just to place bets. It's best if you can use one centralized app that works with all the bookmaker sites you use. Also, make sure that the website works well on your mobile device as well. Some websites are too heavy and take forever to load on slower devices like smartphones and tablets.
A proven track record of success with other operators
A company that has already successfully implemented sportsbooks at other operators will have a better understanding of the challenges faced by operators and how they can be overcome. A track record also reflects the level of expertise that is available to support you in your own journey.
Availability of dedicated account managers
Your relationship with your account manager is crucial for success, as they will be able to guide you through every step of the process. They should be able to answer any questions you have about implementing or managing your sportsbook, from technical questions all the way through to questions about marketing and revenue generation.
A consultative approach
Once you have identified some potential sportsbook provider partners, make sure that they take the time to understand your business and offer advice on how best to integrate their platform into your existing systems. Many companies will offer free trials so that you can test the product before making a decision on whether to purchase it or not.
Features Offered by iGamingBook’s Sportsbook Solutions
iGamingBook’s white label sportsbook solutions are designed to give you complete control over all aspects of your sportsbook brand. The white label sportsbook solutions are feature-rich, and include some of the most advanced and innovative technologies in the industry. These features are explained in more detail below:
Player protection
We are dedicated to providing the finest player protection available. Our sportsbook solutions include the most advanced technologies that protect players from fraud, identity theft and money laundering. We also have a dedicated compliance department that works closely with our gaming partners to ensure that all players are treated fairly. All deposits and withdrawals are processed through our secure banking partner, which is fully licensed in Malta and regulated by the Lotteries and Gaming Authority (LGA). The LGA is one of the most stringent gaming regulators in Europe, requiring strict adherence to KYC/AML regulations.
Customizable branding
One of the features of our white label sportsbook solutions is that you can change the design of the platform to fit your brand. This means that when someone visits your website, they won't be able to tell that it is powered by us. You can also change things like colors, logos and other elements to make it look exactly how you want it to look. This makes it easy for you to create a website which matches your existing branding and style.
Fiat and cryptocurrency support
Our white label sportsbook solutions support both fiat currencies and cryptocurrencies, so you don't have to worry about the legal status of bitcoin or other digital currencies in your country or jurisdiction. You can accept bets from customers anywhere in the world using our system, which makes it easy to reach new customers without having to worry about restrictive regulations or exchange rates. You can also choose from a number of payment processors that we integrate with, including the most popular ones like Skrill, Neteller, PayPal, and more.
Dedicated support team
This is a dedicated support team that we train and manage. We want to ensure that our clients are getting the best service possible, so we have developed a system where our support team is focused 100% on their clients. We also offer a 24/7 live chat service so you can get in touch with us at any time of day or night. Our support team is available on an ongoing basis, so if you ever have any questions or concerns about anything at all, we are here to help!
Fully responsive with all mobile devices
Our white label sportsbook solutions are fully responsive and work great on any device. Our white label sportsbooks look great on every type of device including smartphones, tablets, desktops and laptops too! You don’t need to worry about whether or not your players will be able to log in from their mobile devices because our white label sportsbooks are built specifically for mobile users in mind.
Powerful admin panel
The most important and advanced feature of our white label sportsbook solutions is the powerful admin panel. You will be able to manage your sports betting site without any knowledge of coding or programming. The admin panel is a one-stop shop for all the features you need to operate your own private sportsbook. The admin panel is fully customizable, so you can make it look exactly the way you want it to look. It also includes advanced filtering tools and an extensive reporting system that allows you to track all bets, deposits and payouts easily.
Secure hosting environment
We employ a team of expert developers and programmers who work continuously to ensure that our services are safe and secure. We also use the latest technology in order to prevent any kind of hacking attempts or breaches on your website by hackers. Our programmers are constantly upgrading our servers and modifying them in order to make sure they are up-to-date with the latest security features available on the market. This way you can be sure that your website will always be protected against any kind of attacks by hackers or other cyber criminals.
Advanced reporting system
Our white label sportsbook platform comes with an advanced reporting system that allows you to monitor the activities of your customers. With this reporting system, you will be able to monitor user activity, as well as their deposits and withdrawals. This means that you will have complete control over the operations of your online sportsbook. You can also use this reporting tool to track your income and expenses, so that you can make adjustments if you need to. If necessary, you can even export your data into Excel or other software programs.
Steps of Developing a Sportsbook Software
Market Research
Before proceeding with the development of a sportsbook solution, it is crucial to get a thorough view of the sports betting industry. Analyze the market trends, identify your competitors, and identify the target audience to cater to their requirements as it helps your business get noticed with the desired results. It is the most important step before starting the sportsbook development as it gives a broader view of the market dynamics leading to a successful sports betting software solution.
Set Your Budget
Your finances are the most crucial aspect of developing your online sportsbook, as without them, you cannot create what you desire. There might be different features you might want to incorporate in your platform, customizations, and necessary integrations that may increase your budget. You need to set how much you can spend by allocating budget size to each part of development. Apart from this, you will also be required to set a budget for the marketing and campaigns, which is crucial to scaling and growing your business exponentially.
Choose a Reliable Sportsbook Platform Provider
Choose a provider that offers unique solutions and a high level of customization to cater to your distinctive needs. They are considered to be the backbone of the sports betting development process as they offer customizable and scalable solutions to the operators to meet their demands. Sportsbook software providers are responsible for end-to-end development, ranging from designing the user interface to implementing necessary tools and features along with customer support. Partnering with the right provider can help you gain long-term business success.
Obtain a License
Each jurisdiction has its own set of rules and regulations; therefore, ensure that you are meeting their compliance requirements to legally launch your sportsbook solution. Employ necessary KYC verification processes, age verification procedures, and Anti-Money Laundering measures to ensure you provide a fully compliant platform to your users. When everything is in place, you will easily obtain a license from the authority of the country in which you are setting up your business in.
Create a WireFrame
Wireframing involves creating a front-end structure of your sports betting platform. At this point, you can communicate the kind of UI and UX you want and the idea you want to incorporate into your sports bookie software providers. Spend this idea wireframing how your betting app should look like after the incorporation of intuitive UI/UX, helping the bettors place bets with ease, adding essential tools and technologies as well as the programming language processing.
Develop a Mockup
After successfully developing a wireframe for your sportsbook platform, you will be required to view your developed page or platform. It will consist of all the features you require along with the choice of colour, themes and sample content on your platform. It is not a final product, however; it consists of all the finalized details and structure. You can view the final design elements here and can opt to alter or go with the design if it is produced as desired.
Solution Testing
One last step before proceeding with the final launch that your platform iGaming solutions provider will go through involves the testing of your platform to ensure how it is working. This creates confidence amongst the operator as it ensures the reliability of their platform. It is checked for Quality assurance by performing user testing to understand if the platform is ready to launch or if there is still some scope for improvement. It is tested in all ways to ensure it works seamlessly and functions smoothly across the targeted regions.
Launch and Deploy
The final stage of the development process includes initiating with a soft launch, such as providing the accessibility to a limited user set. In this step, everything gets monitored: customer reviews are gathered, their betting behaviour and preference are monitored, and the payment success rate is assessed. After a certain period, it is launched on bigger scales for larger accessibility and wider user reach.
Different Sportsbook Solutions for the iGaming Operators
Custom Solutions
Custom solutions are developed specifically to meet the unique business requirements where an operator takes full control over the website design, integrations, features and user experience customizations along with the complete ownership of their sportsbook platform.
White-Label Solution
White label solutions are ready to launch software solutions just like templates, which the operators can choose depending upon their unique requirement. It allows them to enter the market quickly with the pre-built solutions, eliminating any additional loads on their pockets.
Turnkey Solution
Turnkey Solutions are also pre-built software solutions. With this solution, sports bookie software providers allow the operators to penetrate the market quickly and integrate customization into their platforms along with strong back-office support.
How can iGamingBook Help You to Setup A Fully Functional Sportsbook Solution?
The online betting industry has been growing rapidly over the past few years, with an unexpected surge in becoming sports betting providers around the world. More and more people are starting to bet online, and this is fuelling the growth of the market. If you want to start your own online sportsbook website, then there are several things that you need to consider.
iGamingBook is a fully-fledged sportsbook software provider that offers everything you need to get started. This includes a state-of-the-art admin panel for you to control your users and events, plus multiple bookmakers, odds providers and payment gateways. We also have an integrated affiliate system which allows you to promote your business through our network of partners, in addition to other built-in marketing tools such as promotional banners and email campaigns.
Frequently Asked Questions
Is sportsbook a growing industry?
Yes, it's a growing industry. In fact, the global sports betting market has a compound annual growth rate of 8.9% between 2024 and 2025.
How can I start my own sportsbook platform?
Your first step is to find a host for your platform. This will be the company that owns the servers and provides the technical support for your site.
What are the requirements of setting up an online sports betting platform?
To set up an online sports betting platform, you need a few things:
a. A license to operate
b. A server to host your website
c. An API
Are white label sportsbook solutions better than custom-built solutions?
White label sportsbook solutions are better than custom-built solutions, but they're not always the best option.
The reason white label sportsbooks are usually better is that they come with a lot of options and features pre-built into the system. These include things like odds comparison, live betting, and customer support.
Can I test iGamingBook’s white label sportsbook solutions?
Sure! You can test out our white label sportsbook solutions by signing up for a free account.
Is your sportsbook solution fully compliant with the laws?
We completely understand the importance of legal compliance and strictly follow the guidelines to maintain the legality of our services and sportsbook solutions, considering the jurisdiction of each country where betting is legal.
Sources:
- https://www.thebusinessresearchcompany.com/report/sports-betting-global-market-report#:~:text=The%20global%20sports%20betting%20market,least%20in%20the%20short%20term.
- https://www.globenewswire.com/en/news-release/2022/07/14/2479929/0/en/Sports-Betting-Market-Size-Is-Likely-to-Experience-a-Tremendous-Growth-of-USD-167-66-billion-by-2029-registering-a-CAGR-of-10-26-by-Size-and-Share-Industry-Growth-Regional-Outlook-.html
