Online Sportsbook Business — Extensive Guide from A to Z by Online Casino Market Experts

Online casinoBettingManagement
22 june 2020

The extreme popularity of different types of sport in recent years made a significant influence on other related industries. Since the olden days, people were thrilled by their favourite athletes and did not waste a minute to bet on their success. Betting business has been accessible for ages, and with the highly developed modern technologies, online direction deserves credit for being ideally adjusted to the realities of today’s lifestyle.

Numerous establishments open on the internet because of the increased popularity of betting services. As an operator is, most of the times, an independent bookmaker, the only question that stays unanswered is the launch of an efficient betting store.

Online sportsbook business

Online Casino Market presents you with a unique possibility to become a successful owner of a bookmaker’s website. Our proficient experts will supply you with a detailed guide on the organizational process, as well as a convenient turnkey betting solution to back it all up.

Developmental Stages

All self-respected entrepreneurs want their online bookies to be a serious business with a legal background and secure environment. Consequently, the preparation should be appropriate. The first and foremost step is the creation of an elaborate business plan.

It will be your guide during the entire organizational process and will contain detailed information on the following steps:

  • platform design and brand development;
  • betting software purchase;
  • creation/renting of a betting line;
  • obtaining a license;
  • recruitment of additional personnel (optional);
  • advertising campaign.

Statistical Overview

Before we jump right into the organizational details, it might be a good idea to find more about the progress of the online betting business on the international market. Only after you perceive all numbers and statistics, you will be able to figure out whether you really need to get engaged in the sphere.

Estimated Gross Gaming Revenue

$155.4 billion by the end of 2024

Part in the International Gambling Market

70% of GGR

Progress Rate

9.58% annually by 2019

Black Market Influence

$150 billion worth of annual wagers

Compound Growth Rate

10% annually

These numbers definitely look impressive. However, they become even more attractive when you understand that you are a part of it. Due to the contemporary current market situation, some countries desperately need an increase in the variety of internet bookies as the target public is growing.

Speaking about the most popular markets, these eight make up a considerable amount of international GGR:

  • India (football, cricket, American football)
  • Philippines (football, basketball, boxing, billiards, volleyball, eSports, horse riding);
  • United Kingdom (horse racing, football);
  • South Africa (football, cricket, horse riding, rugby)
  • Nigeria (horse racing football)
  • Ireland (football, hurling)
  • Colombia (horse racing)
  • Australia (rugby, cricket)

Platform Creation

Betting platform creation

You will need to come up with an attractive brand name and logo. It must be unique in design and be attractive enough to gain the desired traffic. Also, you will need a website that will host players. It must be easy to find the key functions as well as to have a straightforward interface with the most valuable information that is easy to reach. In most cases, an operator will resort to professional web design studios. However, in case of sufficient experience in web development, it is possible to create a website by yourself.

Bookmaker’s Software

In order to make your betting website a functioning environment, you will need to purchase or rent appropriate software. Remember to resort only to professional manufacturers with a positive reputation. Admittedly, it may be a bit expensive, but your clients will be grateful to you for responsive functionality. Also, the administrative part of your website will require proper support. Make sure you order convenient management systems and efficient analytical tools.

Betting Line

It is probably the most significant part of any bookmaker’s store. You should be able to offer your clients appropriate coefficients on matches so that the outcome was favourable for both, you and clients. Here, operators usually have a choice between two option:

  1. Hire a team of professional experts that continuously develop effective coefficients on the offered activities.
  2. Rent the existing betting lines from more prominent companies and their experts.

While the second variant seems cheaper, the first one is a massive step towards becoming a completely independent online facility.

Official Registration

The online betting business is considered gambling that requires formal permission if you want to work legally. In the case at hand, you should focus on a specific jurisdiction and contact a local gaming commission.

New platform owners can usually take benefit of the offshore countries that offer quite favourable taxes and conditions:

  • Malta
  • Belize
  • Curacao
  • Antigua and Barbuda
  • Gibraltar
  • Costa Rica

Customer Service Team Hiring

Should you want to maximize customer relationship management, it might be advantageous for you to recruit a few specialists to work alongside. It will let you focus on more administrative tasks while your assistants will be taking care of players’ concerns.

Customer service members are usually qualified personnel that needs no in-depth explanation in the betting world. But you can definitely give them some details on the features of your platform.

Promotional Campaign

Promotional campaign of a platform

In order to guarantee that your platform is working to its fullest, you will have to utilize as many advertising channels as possible. Online betting stores are quite easy to promote, as demand is high in the right locations.

Therefore, you can resort to a few most effective popularization means:

  • affiliate marketing;
  • search engine optimization;
  • email reach-out;
  • targeted advertising;
  • social media marketing;
  • video-related promotion.

Professional Betting Setup

In most cases, the development of an online bookmakers’ store is not a job for just one person. Insufficient experience is a crucial issue that can prevent a new platform owner from achieving success. This is where such professional guide companies as Online Casino Market become quite useful.

Our experts will offer you fruitful cooperation that includes:

  • an up-to-date statistical overview of the industry;
  • a detailed guide on platform creation;
  • wise recommendations on obtaining bookmaker’s software;
  • how to develop your betting line or proper sources to rent it;
  • why official registration is so essential for a new betting store;
  • the advantages of hiring a professional customer service members;
  • the most efficient promotional campaigns.

The next time, we will talk about online casino tournaments, their main peculiarities and types. For now, if you have any doubts, contact our experts either to inquire about any details or to reserve our convenient turnkey online casino solution.

Contacts:

  • Skype: slotsmarket
  • Telegram: @spinwin
  • e-mail: manager@oc-market.com
  • the feedback form.

Written by

Karen Fill

Gambling business expert at Online Casino Market

22 june 2020