How Technology Has Transformed the Online Sports Betting
One of the biggest success stories since the turn of the century has been the massive boom in popularity of online sports betting sites.
Before the internet arrived on the scene, anyone who wanted to wager on sports had to visit a land-based venue to fuel their passion.
Early online sportsbooks were largely underwhelming, with limitations in technology and poor Wi-Fi connectivity restricting their impact.
However, the past couple of decades has seen online sports betting take a massive leap forward, helping the sector become a massive global industry.
With emerging jurisdictions such as India and the Middle East opening their doors to betting operators, the industry’s upward trajectory shows no signs of slowing down.
Read on as we look at how sportsbook operators and developers create a successful platform.
Developing a Sports Betting Site
The online sports betting sector is awash with different sites – many of which are operated by massive global organisations.
The brands at the top end of the scale plough huge resources into developing customised betting platforms offering odds on sports from across the world.
Their total outlay will tun into tens of thousands of dollars when factoring in elements such website development, betting licenses and marketing.
Many new operators use ‘White Label’ betting software, which a pre-built partially customisable platform they have tailored to their particular brand.
The initial cost of this is much cheaper than a fully customisable site and generally requires the operator to pay the developer an ongoing percentage of the revenue generated.
Numerous operators bidding to build up their presence in Arab countries use this type of site, thus minimising the impact on their working capital.
This point can be seen to good effect on the top sites featured at arabswin.com/en, many of which have built up sizeable customer databases using reliable ‘White Label’ software.
Whichever route an operator chooses, they must ensure their sports betting site is fully licensed and regulated to operate within a jurisdiction.
The legislation governing online betting varies between different countries, with some more relaxed about the practice than others.
The governments in some countries, such as the United States and India, allow legislators at state level to establish their own frameworks for betting.
Sports Betting Site Features
One of the primary technology considerations when establishing a sports betting site is which payment providers will be integrated on the platform.
Sports bettors need to be able to make instant deposits and speedy withdrawals via methods such as debit cards, e-Wallets, digital bank transfers and open banking.
Safety and security is paramount when it comes to online payment provision, and operators must be sure the companies they use are completely reliable.
It is also imperative for sports betting sites to ensure the options they offer to customers are applicable to the jurisdictions in which they are offering their services.
Another crucial tech element to consider is live betting and live streaming – both of which have become an integral part of the industry in recent years.
Fully customisable and ‘White Label’ sites both offer live betting functionality, allowing operators to offer odds in ‘real time’ as events are played.
They will generally cover 10-12 of the most popular sports including football, cricket, basketball, ice hockey, golf, rugby and motorsports.
The markets are update ‘in-play’, which allows punters to make informed betting decisions as the action unfolds.
When coupled with live streams of the events, live betting can be an extremely lucrative source of revenue for sports betting operators.
However, it is worth noting that this type of betting is very much a two-way street, with numerous punters securing big returns using this methodology.
Advancements in mobile technology have also benefited the sports betting sector, helping it become a truly 24/7/365 operation.
By optimising their sites for mobile devices or creating standalone betting apps, operators open the door for punters to bet whenever and wherever they want.
Many operators now report that mobile betting is more popular than wagering on desktop or laptop, which highlights how the technology has shifted consumer habits.
With emerging technologies such as Artificial Intelligence (AI) and Virtual Reality (VR) tipped to shape online betting in the future, the boom looks set to continue apace for many years to come.
