sports betting app development cost
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Sports betting app development costs like 1XBet

Everybody wants to earn online just by sitting at their home with a mobile, and that’s what a sports betting app helps them to do. Did you know that sports betting app marketing is booming? It was worth $53 billion in 2019, and it’s expected to reach $564 billion by 2027.

In earlier times, when groups of friends, family, or colleagues watched sports matches, they would make predictions, such as who would win the match, what the score would be, and many other predictions. The person whose prediction was correct would receive rewards. However, this was done on a small scale. So, why don’t we move it to a larger scale with a mobile app?

However, the entire process of launching a sports betting app is not that easy.

Many governments in different countries support sports betting and many do not.

In this article, I am going to discuss every aspect of sports betting

Sports betting industry growth numbers

The sports betting industry earned around $4.3 billion in 2021 in the USA. and 70.23 USD in the global sports market. It was expected to grow at a CAGR of 11.7% during the forecast period.

According to the casino organization, almost 26% of the world’s population gambles. Around 1.6 billion users bet globally with 4.2 people betting at least once in year.

The main player in promoting online betting is the smartphone, and after the launch of 5G, this will boost smartphone sales, leading to a certain J-curve in sports betting marketing.

Some of the major players in the sports betting industry

There are mainly three major sports betting apps in the market which are leading this industry. If you are willing to launch your own sports betting app, then these are your high-level competitors.

1) Bet365

Bet 365 is a website where people can bet money on sports games.

It started in the year 2000 in England. It’s easy to use and has a lot of different sports you can bet on. You can also play casino games, bingo, and poker on the site.

Bet365 has a good website and phone app, and you can watch live sports games there too.

2) Parimatch

Lots of popular apps for betting on sports in India are made by companies from other countries. One of these companies is Parimatch, and they want to take advantage of the growing market in India.

Parimatch supports the Indian Super League team Chennaiyin FC as a major sponsor. They also have an agreement with another Indian football club called ATK Mohun Bagan.

3) 1XBet

1XBET is a website where you can bet on different sports online. It started in 2007 and is based in Cyprus. Besides sports, you can also play casino games and other types of games on 1XBET.

1XBET offers a lot of different ways to bet, and you can watch live sports on their site too. Many people think it’s one of the best websites for betting on sports, and you can use it in different languages and currencies.

How many third-party services are required to develop a sports betting app?

There are many APIs, or you can say third-party APIs, that we need to integrate into your app to make it work seamlessly. This needs to be very clear to you before you go for app development because these APIs are paid, and you have to add these expenses to your budget.

Live score API / services :

With these services, you can show the live score of the match going on in real time, and this is the most important feature of any sports betting app. With these APIs, we also determine if the user has won the bet or lost, and accordingly, we credit or debit the amount from their wallet.

This creates a sporty environment, and users tend to play more. The live score part should be very smooth and in real-time.

Some good companies whose APIs you can consider for your app are: Sportsmonk, ApiCricket

Payment gateway APIs

We use a payment gateway to accept payment from the user instantly and this helps a lot when you have a large customer base.

The service that provides a payment gateway for sports betting apps is: UpiGateway

Autowithdraw service

We use this service to send the withdrawal request to the user instantly when they apply for withdrawal.

When this part becomes automatic and fast, you will gain more customer trust, and customers will use your app for the long term.

AWS server (Amazon Web Service)

You have to choose this very carefully and cannot compromise on the budget for server costs because if your users feel the app is laggy and slow, then it will take only 2 seconds for them to uninstall your app.

In today’s world, customer attention span has decreased to 7 seconds. If your app takes more than 7 seconds to load, or if any data takes too much time to load, then the user will leave.

So make sure to use AWS servers for a better user experience.

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Cost of sports betting app development

Developing a sports betting app for iPhone and Android costs about $5,600 to $35,000. This is just an estimate based on charging $15 per hour. But this cost changes from country to country. $15 is the average rate, charged by Indian developers.

When it comes to time, it usually takes experts around 30 to 40 days or more to design a good-looking app for one type of phone. Also, it depends on whether you are developing a white-label app or a custom app.

Making the whole sports betting app takes about 130 days.

However, building the software for betting can take anywhere from 600 to 867 hours. How long it takes depends on how hard the software is to make.

Conclusion

We’re finishing up this article about developing a good Sports Betting App. I think I have covered almost all the questions that need someone to know when he goes for sports betting app development.

We talked about the Industry’s growth and future, we know about the biggest players in the sports betting industry, We talked about third-party services required for the app development and finally, we discussed the cost and timing.

I hope this article has given you a good understanding of Betting Apps from the beginning.

Are you thinking about making your own Sports Betting App? Do you have ideas about how you want it to be and what features you want to include?

Let’s connect to the free consultation call with me and I will guide you from developing the app to launching in the marketing and generating a 6 figure income.

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