Betting Business: Independent Development or Third-Party Services?
In recent years, more operators have focused on creating unique developments. However, this requires the investment of significant financial resources and time. A simpler option is to purchase ready-made software and a betting platform.
The Online Casino Market team offers you to consider the features and benefits of launching a bookmaker site on your own and using third-party services. Order an internet wagering business on a turnkey basis from our team.
Most entrepreneurs focus on creating their software for reasons of minimising expenses. Obviously, at the initial stage, an operator will have to spend a tidy sum on the development of program components. At the same time, an entrepreneur's costs will decrease significantly in the future. There will be no need to constantly conclude contracts with intermediaries and pay for their services.
The creation of unique sportsbook software is a good way to invest. After contribution, the resources can be increased largely.
Here are some good examples:
In 2020, the developments of DraftKings were bought out by SBTech. The operator's profit amounted to 634.1 million dollars. In 2021, Caesars acquired the William Hill brand and its assets for $3.7 billion.
The issue of cost minimisation can be considered from different points of view.
Let us look at the example of an inexperienced entrepreneur with a minimal budget. Undoubtedly, such an operator plans future activities. However, the major priority here is the launch of a business on favourable terms. The development of a bookmaker site from scratch in such a situation is a rather complicated and costly task. The best solution is to purchase ready-made software or rent some program products.
If businessmen develop betting technologies independently, they have unlimited freedom in terms of making any changes. An entrepreneur can adjust the coefficients, add new wagering options, launch promotions, and perform other actions.
When buying ready-made software from other suppliers, an operator does not always have access to all the parameters of program solutions.
However, most developers provide their clients with some options:
the management of the sporting event list; the establishment of financial limits; the connection of new payment methods, and others.
When cooperating with intermediaries, a convenient feature is the automatic updating of data. This peculiarity is essential for betting projects. Since the situation in a certain competition can change significantly in a split second.
It should be noted that it is virtually impossible to develop a unique program product. Even if an operator creates their software, a project will need to constantly receive up-to-date sports data. Therefore, cooperation with intermediaries in this regard is inevitable.
To gain an advantage over competitors and interest more potential customers, an entrepreneur needs to create a vibrant website design and betting software.
The embodiment of original ideas is a good approach. On the other hand, vendors who have been in the bookmaker industry for decades have much more experience and better knowledge of customer requirements. They follow the intricacies of different markets. That is why cooperation with such experts is more likely to bring a positive result for an enterpriser.
Reliable developers create most software solutions based on HTML5. This technology has the following advantages:
high-definition graphics; smooth transitions and fast loading of images; simple introduction of sound elements, and others.
Some operators have concerns that all projects created by a certain intermediary look the same. In fact, this happens rarely. Companies that value their reputation try to find an individual approach to each client, considering the specifics of different start-ups.
Experienced entrepreneurs are well-acquainted with the procedure for obtaining permits in different jurisdictions. However, when it comes to entering a new market or a novice project, receiving a licence becomes quite a difficult task.
An operator needs to prepare the following documentation:
information about the founders; budget and business plan of a company; certificates of non-conviction; technical characteristics of software and hardware, and others.
In addition to paperwork, an entrepreneur also needs to make some payments. To deal with all the intricacies of these financial transactions and the preparation of documentation, we recommend enlisting the support of specialists. The right approach to communication with a regulatory body can speed up the obtaining of a permit substantially.
It is much more difficult to achieve wide recognition for a novice start-up. This process requires large financial investments. It is way easier to use the services of intermediaries or buy a ready-made betting brand. This approach also requires monetary resources. However, the chances of getting a positive result are much higher here.
Reliable providers use the following advanced marketing tools:
social media advertising; promotion in instant messengers; collaboration with affiliates, and others.
To organise a start-up for international activities, an entrepreneur needs to take many important steps:
The implementation of several language interfaces
Successful operation of multiple markets implies the presence of several versions.
The most popular options are English, Spanish, Portuguese, French, and German
The connection of multiple payment methods
Numerous money-transfer services are in demand in different countries. To meet the needs of many target audiences, it is necessary to conclude contracts with lots of financial service providers
The addition of various sporting events
To interest a large number of potential customers, an operator needs to provide a large selection of betting options and coefficients
The independent implementation of these tasks without a well-coordinated professional team can take several months, or even more than a year. The use of outsourcing services will let you accelerate your entry into new markets greatly.
The sportsbook industry has already fully reeled from the effects of the pandemic. Therefore, entrepreneurs began to implement new projects actively.
The independent start of a business is a great option for operators who have enough experience and time to experiment. If you are a beginner or just want to enter a new market as quickly as possible, the best variant is to purchase ready-made betting products.
Such an approach brings the following benefits:
faster business legalisation procedure; effective marketing techniques; the minimisation of potential costs, and others.
To develop your betting start-up from scratch or buy a ready-made internet project, leave a request to the managers of the Online Casino Market aggregator studio.
Our team will help you choose the most favourable format of cooperation.
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