According to the latest report by Forbes, sports betting is a $400 billion industry that keeps growing every year. It’s no wonder so many sports bettors and investors are looking into opening their own gambling operation. Becoming your own online bookie is not an easy task and can be a very expensive endeavor. One of these tasks involves How to Choose a Sports Betting Software that will fit your mode of operation.
Finding the right sports betting software is essential to starting your own sportsbook because of several reasons. The right or wrong software can mean the difference between making a profit and taking a loss. It involves not only having a reliable sport betting platform but also having the right type of management options and reports.
There are several gaming software companies in the gambling market today but only one that is correct for your gambling operation. So let’s take a look at the kind of sports betting platform will best fit your needs.
What Should You Look for in a Sports Betting Software
Any sports betting website will need a minimum number of features in order to be successful. Thanks to the advancements in technology, sports bettors expect to have certain features available to them. If these features are not available, they will go somewhere else.
In addition, you also need software that has the right tools to manage your players. Without these tools, you will not be able to maximize your profits.
Features Necessary for your Players
- Mobile Ready
- Live Betting
- Sports Betting
- Easy Banking Options
- Bonus Option
Extra Features but not necessary
- Esports betting
- Online casino
- Live dealer casino
- Online poker room
- Virtual Sports Betting
Features for Managing the Sportsbook
- Player Management – You want software that offers complete control over your players.
- Odds Management – You want a flexible odds management platform because it will let you manually change the odds and add betting events.
- Reports Generator – Being able to see specific reports for specific dates is a must. In addition, you want software that has several filter capabilities for when you need specific information.
- Agent Capabilities – You want software that will allow you to have agents to help you market your sportsbook.
Where do I find a Sports Betting Software Provider?
In this day and age, you could just Google that information; however, we suggest using sports betting software review sites. This is because review sites will give you detailed information about different gambling platform and even comparison charts.
Do keep in mind that a top of the line sports betting platform will easily cost around $300,000 to $500,000. They are other alternatives to buying software outright like a white label sports betting solution or a sportsbook pay per head service.