Sports Betting App Development: A Complete Guide in 2024

How to create sports betting app: A completely different guide - 2024

Sports betting apps are becoming popular in the digital world due to their rich library of games and features. Betting apps are also popular because people enjoy placing bets on their favorite event or sport and getting a chance to win amazing prizes. It is also financially beneficial for the sports betting app development company as their betting app has a large user base, contributing to a large portion of their revenue.

According to many sources, the sports betting app industry has a valuation between $140Bn to $160Bn in 2024 and is expected to reach more than $182Bn in 2030. This tremendous growth is due to several factors such as the legalization of sports betting in various countries, heavy investment in sports betting software development, and integration of AI in-app processes.

There are many betting app development companies such as Betway, 888sport, Pinnacle, etc which are generating millions. So, if you are considering investing in betting app development and creating a sports betting app, this guide is just for you!

Various different types of sports betting apps

There are different kinds of sports betting apps. Sports betting software developers use their creativity to develop customized betting apps and websites for different business requirements.

Here is a complete list and details of different kinds of sports betting apps:

 

1. Traditional Sports Betting Apps

These are the basic types of betting apps. In this app, many different types of games and sports are available, and users can play them and place bets on events. The app contains sports such as football, cricket, etc. Sports betting app developers mainly focus on real-time data and updates, betting algorithms, and easy-to-use user interfaces.

 

2. Live Betting Apps

Live betting apps are very unique kinds of sports betting apps. In these apps, users can place bets on various real-time events happening in the app. For example, users can place bets on their favorite player whether he will win or not in the betting app. The users can get live updates every second of the sports event. Live betting platform development requires a powerful backend system that can efficiently process and update real-time data.

 

3. Exchange Betting Apps

Exchange betting apps are very different than other sports betting apps. In these betting apps, users can buy or sell bets. It is like a marketplace for bets. The users can also place bets against one another. Buying and selling of the outcomes are also known as “back” and “lay”. Exchange betting platform development requires a robust and secure system where the transaction data can be safe.

 

4. Fantasy Sports Betting Apps

Fantasy sports betting apps are trending in the top charts. These apps enable the users to create teams and place bets on a real-world event. As a team, the users can earn points based on the outcome of the event. Fantasy sports include games such as cricket, football, etc. Fantasy cricket betting website developers can create an amazing interface for engaging user interaction.

 

5. eSports Betting Apps

Nowadays, online mobile gaming is getting increasingly popular among younger audiences. These games are played in real-time and with real players. eSports betting apps take advantage of these apps by integrating sports betting app development with e-sports. These apps allow the users to place bets on real-time games such as Fortnite, BGMI, etc, and earn points based on the outcome of the match. E-Sports betting mobile app development requires an understanding of online games and the gaming community for creating tailored sports betting apps. 

 

6. Cricket and Football Betting Apps

Cricket and Football are two of the most widely played sports in the world. These two sports have a huge fan base across the whole world. Due to their popularity, sports betting app development companies have taken the opportunity and have brought these sports to mobile. In the betting apps, users can place bets on the various parameters of sports and earn points according to the outcome of the real-world players.  A cricket betting software developer aims to accurately implement the sports’ terms for pinpoint accuracy in the betting app and the same techniques are also applied in football betting app development. 

 

7. Horse Racing Betting App

Horse racing is one of the most popular sports which is majorly played in European countries. Horse racing betting apps are simple betting apps in which there are many real-world horse racers. Betting app users can place bets on their selected horse and earn according to the outcome of the race. Horse racing software development companies should have skilled developers who have an understanding of the sport and can create apps with powerful real-time data processing capabilities.

 

The Sudden Rise of Sports Betting Apps

The era of 2018-2024 saw the rapid increase of online businesses globally. More and more people were starting to use the internet. People were able to watch their favorite sports event from their mobile.

Companies saw this golden opportunity by integrating the needs of gamblers and the hype of sports into sports betting platform development.

North America and Europe are the fastest emerging markets for sports betting apps. Countries like the USA, UK, Germany, and Italy are the main markets. In the USA alone, the market valuation of sports betting in 2023 was $13.6Bn and is expected to grow to $15Bn in 2024. 

The Asia-Pacific sports betting market region is also expected to grow rapidly due to a large population using smartphones.

The legalization of online sports betting also played a crucial role in the market growth. Many countries like the US and the UK have legalized sports betting, leading its market growth substantially.

Online sports betting has around 50% market share and the growth of mobile betting is 12% CAGR.

Advantages of Sports Betting App Development

Developing a sports betting app has many advantages for both the user and the business. Although there are betting websites or web apps as well as betting software in the market, sports betting app development holds the upper hand in the market.  One of the main advantages is that most people have smartphones and internet connectivity, so there are plenty of opportunities for businesses in terms of revenue and market acquisition and for users to explore various options of apps. A good sports betting app development company would integrate tons of features that would make the user experience more enhanced.

Here are a few of the advantages of sports betting app development:

1. More User Engagement

If the betting app is well designed, more and more users will use the app and thus revenue of the sports betting app development company will increase. 

2. Global Reach

Since most people use mobile phones, developing a sports betting app will increase its chance of reaching a global audience.

3. User Insights

Integrating data analytics tools in betting apps can be helpful for businesses to get insights into user data such as user behavior, user preferences, and betting patterns. Betting website developers can integrate various analytical tools into the betting apps.

4. Enhanced User Experience

The user experience is something that makes a betting app unique. Incorporating features such as personalization of the user interface can enhance the user experience of the sports betting app a lot.

5. Security and Privacy features

Every user is important and is their data security and privacy. A reputed sports betting app ensures its end-to-end security features and user privacy and that is what makes the betting app trustworthy.

6. Customized Notifications

Relevancy is important as it helps the user to know exactly what he wants in the sports betting app. So it is good to have a tailored notifications feature so that the users won’t miss what is important to them.

A Step-By-Step Sports Betting App Development Process

A sports betting app development process is very similar to any other mobile app. However, it includes some steps and practices that make the development process quite different from other apps. 

Since we are a sports betting app development company, we have expert sports betting software developers who can develop customized betting app solutions as per customer requirements.

Here is a step-by-step guide for the sports betting app development process:

 

1.  Market Research

The Sports betting app industry is vast and competitive. You should first do detailed market research which includes demographic research, consumer behavior, competitor analysis, etc. This will provide you with clarity and help you to decide what type of app you want to develop.

 

2. Acquire a Gambling License

Before the official sports betting app development process, it is necessary to acquire a gambling license from the government of the country you want to launch your app. Gambling is considered illegal in many countries and their states. In that case, a gambling license will help you out. A gambling license would grant you unrestricted allowance to perform your betting app operations and generate revenue. However, there would still be some regulations by the government of that country on your betting app and company.

 

3. Feasibility Study and Requirement Analysis

Now you have got the gambling license, we can move forward to the first step of the sports betting app development process. First of all, a feasibility study is conducted on the idea of the sports betting app to assess it on different factors such as technical, financial, operational, etc, In simple words, a feasibility study verifies whether the idea is practical or not.

If the feasibility study outcome is approved, a detailed document called SRS is made which describes all the features, including technical and non-technical requirements of the sports betting app. After the SRS is made, an analysis is done to cross-check all the requirements of the client. 

 

4. Designing and Wireframing

Wireframing is the process of creating a basic structure of the sports betting app. It comprises the major components and modules from the SRS. In the designing phase, the UI and UX are prototyped to get an idea of how the betting app would look like. This step is also crucial for selecting the frameworks, programming languages, tools, and technologies. 

 

5. Coding and Development

Now this is the main part of the development process. In this step, the project is divided into many different modules among various development teams. Each module is developed as per the SRS by the specified programming language.

The development is itself divided into two parts, front-end and back-end. The front-end development deals with the UI/UX part of the betting app, whereas the back-end development deals with the server-side part of the app such as database and APIs.

 

6. Testing

Now that the development is completed, it is time for the testing. Testing is done to ensure that the betting app is bug-free, there are no performance issues, the app is reflecting the SRS, etc. There are generally two types of testing done, the first one is unit testing where each of the app modules is individually tested and the second is integration testing where all the modules are combined and then testing is done. 

 

7. Deployment and Maintenance

Now that the app development is completed and rigorously tested, it is time to hand the app to the client for launching it in the market. Once the betting app is launched, it needs maintenance and new features from time to time. These are provided through regular updates. Updates also help to improve the user experience and maintain sports betting industry standards with the latest technology. 

 

8. Marketing and Promotion

Marketing and promotion is a much-needed process for the sports betting website development company and sports betting app development company to help their products and services reach the target audience. In today’s digital world, online marketing, and branding tools are really helpful in promoting your mobile app. It also helps to promote the betting app company and the betting site developers who made the app or website.

 

Various Monetization Methods for Sports Betting Apps

Sports betting apps have various different methods for generating revenue. These methods are widely used by many sports betting app companies for revenue generation and profit maximization. 

 

Here are some of the best and most widely used methods for revenue generation:

 

1.  Commission on Winning a Bet

This method is very commonly used by sports betting apps. In this, a small percentage of the winning amount is deducted from the user’s winning amount if he wins the bet. It is usually 1% to 3% of the total amount. For example, if the user wins $100 and the 1% amount is deducted, the in-hand amount will be $99.

 

2. Advertisements

By displaying various ads on the ad space of the app, betting app companies can generate revenue. Different businesses can request to display their ad on the betting app, which will help to promote their business, products, or services to a larger audience in exchange they will provide money to the betting app company.

 

3. Subscription Fees

Sports betting app developers can include some premium features that the user needs to pay to access and use. These features can be called  VIP passes or something like that. In order to ensure that the user purchases the subscription, provide fewer features in the betting app and more features on premium subscriptions. This is another way for revenue generation for betting apps.

 

Ending Thoughts

The online sports betting industry will continue to grow and improve thanks to next-generation technologies such as AI and ML. Sports betting app development companies are integrating these AI features to create a gambling app that can provide new user experiences to their users. But as technology is advancing rapidly, developers need to make their apps robust and secure to protect user data and transactions against the latest cyber threats and attacks.