With the U.S government repealing laws on sports betting making it a legal affair – the online sports betting app market is booming. It was worth $53.7 Billion in 2019 and is expected to reach $565 Billion by the end of 2022.
After this legalization, a number of budding entrepreneurs are planning to take steps towards sports betting app development keeping in mind the revenue generation potential of these apps and the industry gaining momentum.
However, the entire process of launching a sports betting app is not just time-consuming but challenging as well. Therefore, before you take a step forward in the sports betting industry, which is flourishing by all leaps and bounds – you must take into consideration different factors that can affect your success.
In this article, we will discuss a number of such things related to sports betting apps to eventually find out an answer to how much Sports Betting App Development Costs? So, let’s get started.
1.The Online Gambling Market Is Expected to Grow at a CAGR of 11.5% from 2020 to 2027
Sports Betting is not at all a new thing for the world. However, the way in which it is done nowadays is new as well as exciting. The increasing internet usage among individuals for playing games online while sitting at their homes is driving the market.
Also, factors like legalization, corporate sponsorships, cultural approval, and celebrity endorsements are adding more weight to the worldwide adoption of gambling and are a reason behind the increased market size and valuation.
2.To Launch a Sports Betting App You Will Require a License
To enter the Billion-Dollar Gambling industry, you will have to get a license first. We are not experts in online gambling laws, but as per the data available online, it is not very hard to get a license for launching sports betting apps these days.
But, every country has different rules and regulations for approving any venture related to online sports betting and we recommend you go through the process with the help of a qualified lawyer. Here is some general information about getting a license for online sports betting in various countries.
3.Publishing a Sports Betting App On App Marketplaces
In July 2017, Google declared that app developers can publish betting applications on Play Store. However, there are strict rules to restrict users of less than 18 years from downloading such applications. Also, it’s crucial to have a gambling license from the targeted country to publish sports betting apps on the play store.
To publish your sports betting application on the App Store, you have to follow the strict guidelines set by Apple. They’re much the same as Google guidelines but Apple is more specific than Google for its standards and rules. Check out our guide on getting the green light for the iOS app from Apple for more information.
Now that you have an idea of what Sports Betting App Industry is made up of and what are its potential benefits and challenges – let us move forward to our next section listing the features of such apps in detail to find an answer to how much does sport betting app development cost.
When using your application – a user will first interact with your app onboarding process that includes registration and login. You need to make this process as seamless as possible so that users don’t face any problems while using your application. Also provide the “Forget Password” option at the login screen itself to make it easy for them to change passwords.
After login, your app should provide a list of all the sports and players on which users can bet using your app. It is advisable to make this list as extensive as possible to attract more and more users to your application. You can include various sports like Football, Cricket, Basketball, Horse Race, Rugby, and many more. Also, you must list all the players playing a particular game along with their history and performance record.
If you want to make your sports betting app a hit – this is without a doubt a must-have feature. You must provide real-time data to your users so that they can analyze the game and make bets depending on the same. All you need to do is integrate an API for integrating this feature in your app. We at Apptunix, prefer using TheRundown API by Rakuten to integrate this feature in online sports betting apps.
It is not necessary that only people who are expert in online sports betting will use your app. So, you have to integrate betting guides in your app to guide people who don’t know much about betting and the process included in your app. These guides must help users in the processes like placing a bet on a particular game or player, getting paid, any other such things.
It is also a must-have feature for every sports betting app. You must provide each and every detail of the team as well players (like strengths, weaknesses, and history of winning or losing) playing a particular game in your app to help users make the best bets and win money.
This feature let users know about the team that is likely to win the match and the players that are likely to score more. Mostly, in sports betting applications, this feature is depicted using a negative sign. The app simply adds a negative sign on the name of a particular player or team to signify that it is the crowd’s favorite.
Before a user makes a bet on your sports betting application, you must ask his preferred model for making the bet. Basically, there are three types of model using which a user can bet and these are:
Straight: Using the straight bet model, a user will be betting on a particular player or team to get the payout.
Parlay: This model requires users to win multiple bets to get a payout. This is the most difficult type of model to win.
Teasers: This model is similar to parlays. But using this model, users get a few points on each bet they win.
So, you will have to let users choose which betting model they will prefer to make bets. Also, make sure to clearly explain this entire process to the new users of your app using in-app guides or tutorials either when they register in the app or upon requesting.
After users select the betting model, sports betting apps ask them to choose the betting type. Basically, there are three types of bets – spread betting, moneyline, and totals. It completely depends on an app user using which type he/she wants to make a bet.
After the game or a particular event ends, the app must have a result section where users can see the final results of bets they made. This section should have all the information about new poll creation by admin and about the due status on bets.
Do you want to make your app extra sweet and user-friendly? Don’t forget to integrate payment functionality into it. It allows users to add their card details in-app so that they can make bets easily and hassle-free. All your sports betting app developer needs to do is integrate a payment system like Stripe or Skrill in your app to implement this feature.
In sports betting apps, this feature is very helpful for users as well as app admins. Additionally, it can increase app engagement rate by making users spend more time in your app.
Now that you have seen all the necessary features of a sports betting app – let’s see a rough estimation on how much time and cost you will have to invest in integrating all these features in your app for betting with the help of the following table:
Along with all the above-mentioned features in your customer app for sports betting, you will also require an admin panel to run your betting app successfully. By using a robust admin panel, you will be able to easily manage users and all transactions occurring on your platform. To develop the same, your sports betting app developers will require around 70-80 hours.
While the above-mentioned are the must-have features of a sports betting app, there are some advanced features as well that can make your app one of a kind. If you really want to make your app unique to attract more and more users to it – do consider adding these in your sports betting app. Let’s find what these advanced features are all about:
A sports betting app should not just help users in making bets on their favorite sports or players, it should also keep users hooked to the platform. To do the same, integrating a live streaming feature is a perfect idea. The real-time movement of players and scores improves the app’s user experience more promisingly.
If your sports betting app supports multiple languages – it can attract users from all over the world. When users will see your app in their own local language – they will feel more connected to it and making bets would be a lot easier for them in such a situation.
If your app provides users with some tips and tricks on making bets, it would be a great idea. It is not crucial that everyone who is using your app is a pro at betting. So, feel free to integrate this feature in your app and once you build a good user base of your application, you can use this feature to monetize your application.
This feature will let your users place bets within moments or before any change is done in the scorecard. A number of users find this feature very exciting and it can also drive user engagement in-app.
While giving users live updates in text format about scores and other things in the app is a crucial feature – providing the same in audio format will drive much attention towards your app. The users of sport betting apps are generally busy and they don’t have time to take their phones out and check the live scores. So let them hear it all out using headphones or Bluetooth.
Let’s see how much time and money you will have to invest to integrate these advanced features in your mobile sports betting application:
Behind every successful app, there is a robust tech stack that is used for its development. And sport betting apps are no different. If you want to make a successful app for sports betting – you must choose the technologies behind it very carefully. Let’s now have a look at the same.
Basically, the tech stack of your sports betting app will depend on your exact requirement. For example, if you want to build a native app for gambling, you will have to use either Kotlin or Java for your Android application. On the other hand, if you want to build a cross-platform mobile app, you can either use React Native or Flutter for the same.
So, it is advisable to consult with your sports betting app developers first to make an informed decision about your preferred tech-stack. However, to give you an idea of what is behind these apps, here is a list of some technologies from which you can select your preferred ones:
Now that we have seen the state of Sports betting app market, their must-have and advanced features, and tech-stack used to build such apps – it’s time to find a final answer to our question: how much you will have to invest if you plan on building a mobile sport betting application. So, let’s check it out.
The answer to how much it will cost to develop a sports betting app will depend on features you choose to integrate into it, tech-stack you use, and the location of app developers you hire.
More the complexity of your app, the higher will be the cost. And the same goes for the location of your app developers. If you hire American or European App Developers – they usually work on $50-$80 per hour.
However, if you hire Asian Developers – they will work for you on around $25-$30 per hour. Also, it is not just app development in the process of making an app. You will also have to pay for UI/UX designs, testing of your app, and project management fee.
For better understanding, here is a complete breakdown of sports betting app development cost considering all the processes involved:
That’s it. If you want to develop a sports betting app with all the above-mentioned must-have features – it will cost you somewhere around $30,000-$35,000. However, if you also wish to integrate advanced features in it – the cost can go up to $42,000.
Keep in mind that it is just a rough estimate and the mobile sports betting app development cost can go above and beyond with the addition or elimination of certain features.
With this, now we have a complete idea of what we were looking for at the start of this article. Now that you are aware of pretty-much everything about sports betting apps – it is the time to jump in the market with your own app for sports betting to earn a chunk of money.
So, what are you waiting for? Let’s get started.