Sports betting is a lucrative business for budding investors. Depending on where you want to set up your sportsbook, it doesn’t need to be expensive. You can pay all the required permits for under $20,000.
After that, you can purchase important software programs and make your site available to the world. In this article, we’ll outline some of the software you need to run a successful betting site. Let’s get started.
#1: Security software
By law, every betting site needs to be secured. Most sportsbooks use Secure Socket Layer (SSL) to encrypt user data. Sites with this certificate have a locked padlock sign on their address bars.
Beyond data encryption, bookmakers also use anti-DDoS Protection. This software protects a site from malicious attacks. Let’s say a hacker wants to bring down your sportsbook. He or she can initiate a distributed denial of services to overwhelm your servers.
DDoS protection thwarts attempts to take down your betting site unnecessarily. Cloudflare is arguably the most popular anti-DDoS protection service provider out there. But it faces stiff competition from Imperva and Amazon Web Services.
Some software adds credibility to a sportsbook. Think of licensing software. A license shows that a betting site is genuine. It can also help you figure out whether the site accepts players from where you live.
#2: Betting software
This is a no brainer. Bookmakers need betting software to operate. Betting software providers supply betting sites with daily betting markets and odds.
The software can be personalized to allow a sportsbook to adjust its odds or customize sports and leagues. Betradar, SB Tech, Bet Construct, and TG Lab are some of the biggest betting software providers online.
Sportsbooks that also feature casino games work with brands like Evolution, Betsoft, NetEnt, and Microgaming. Betsoft, in particular, is growing popular among new sites. More than 500 casinos use the Betsoft software. The explanation is that this developer creates amazing 3D slots: Stampede, Jumbo Joker, and Good Girl Bad Girl, to name a few.
If you’re a casino player, it’s essential to know popular developers and their games. This information helps you choose the right casino for you.
#3: Banking software
Betting sites are in the business of making money. That means every bookie site needs a program to help with payment processing. In the early days of online betting, Visa and MasterCard were the best payment options.
Today, betting sites work with tons of online payment companies. Some of them accept PayPal, Skrill, Neteller, EcoPayz, and GPay. Others also include Bitcoin, Ethereum, and more cryptocurrencies.
The best banking methods provide quick deposits and withdrawals. They’re also easy to use. They’re secure and reliable. Most of them charge the betting companies a small fee for every transaction.
Digital wallets and cards charge 1% to 3% as a fee for every payment. However, they don’t always charge customers. This means you can deposit money into your favorite sportsbook at no cost to you. Some of them charge you withdrawal fees, though.
#4: Website templates software
Templates allow you to create a layout for your website. Maybe you want live games to appear in the middle of the site. Perhaps you want your site to have a search feature.
You can personalize your site by using templates. However, templates differ depending on several factors. Are you hiring someone to create your website from scratch? Will you use a website builder?
Look at different templates before you decide how to layout your website. Make sure you have a simple web design. Most of your customers want to log into their accounts and bet as quickly as possible.
Place important menu items conspicuously. Precisely, the signup and login features need to be easily visible. Next, highlight your betting markets and odds. Then display payment options, bonuses, and other features conveniently.
#5: Mobile betting software
Smartphones are officially the most popular devices in the world. In every country where people can use the Internet, people own smartphones. Android dominates 80% of the market share. But in some countries, Apple rules.
With that in mind, the popularity of mobile betting means modern sportsbooks require mobile software. They need software to help with banking, betting, account access, and security.
Developers make it easy to run mobile sportsbooks by creating software that runs on both desktop and mobile devices. This software isn’t particularly expensive, which is why every bookie should be mobile-enabled in this digital age.
#6: Bonus promotions software
One of the challenges of running a sportsbook is that it’s a regulated business. You can’t advertise your company freely. In some countries, you can’t advertise betting on TV and radio.
The best way to promote a sportsbook is through bonus marketing. You offer free bets to potential customers. And you hope to recover your money with time if these customers turn into loyal bettors.
Bonus software helps you integrate promotions into your betting site conveniently. Players can view and claim various promotions like no-deposit, odds boosters, first deposit, and VIP rewards.
Most bookies connect their bonus promotions to their referral marketing software. Referral marketing is an effective marketing method for bookies because they only spend money if they receive customers.
#7: Data management software
Betting sites deal with large volumes of data. Yet, they’re expected to keep this information safe. They also need to segment it to provide quality services.
Bookmakers use a plethora of data management systems to manage different types of data. They need software to store their customer’s information. They need software to track bettors’ behavior for marketing reasons.
And they need software programs to analyze big data to improve the quality of their services. Microsoft’s SQL Server, My SQL, and Amazon’s RDS are the industry’s leaders in data management.
These companies use AI and sophisticated math software to help bookies manage their large volumes of data accordingly. The best bookies don’t just keep your data safe. They use it to improve your betting experience.
They reward you with personalized bonuses. They allow you to customize your account. And they monitor your betting activities to ensure you’re a happy customer.