Since the evolution of technology, traditional betting has been replaced by new methods. Now, on your mobile screen, you can bet on any sport, as multiple sports betting mobile apps are available. The best examples are FanDuel, Draftsking, and Bet365.
In the past couple of years, sports betting software has redefined betting methods, which makes mobile betting one of the most popular methods today. There is a high demand for sports betting mobile apps. By the time you read this article, the online sports betting market will have crossed over US $44 billion in 2023.
Still, sports betting is a legal matter in some countries. However, the betting market is rapidly growing, and it is one of the trendy methods contributing to the global economy.
It is one of the revenue-generating ideas. Bet365 and apps like Fanduel Sportsbook are good references if anybody is interested in sports betting app development. But there are some points you need to know before developing the sports betting mobile app, where cost is one of the important factors.
Here, we have created a blog that will make your journey smooth and let you know how much it costs to develop sportsbook betting app like bet365. So, let’s start.
The virtual sports betting market has grown tremendously. The evolution of smartphones, improved internet speed, and investment fueled this growth. Another reason is the legalization of betting in different parts of the world.
Let’s have a look at the stats to have a glance over the online sports betting industry.
If you closely observe these statistics, they draw a big picture of the online sports betting market and indicate its bright future.
Another thing you will find is that some stats are location-based, and the reason is the location-based legality of sports betting. So, let’s continue with the blog to learn more about it.
The sports betting industry is generating good revenue, but it is still legalized only in some countries. Conversely, in some countries, it is still a matter of legal discussion.
Here is the list of countries where online sports betting services are legal:
Before 2018, sports betting was illegal in the USA; now, it is legal in 37 states, and the popular age group involved is 35–44 years old.
Canada is one of the top countries allowing all types of sports betting. It has been legal since 1985. Some remaining restrictions (like the ban on single sports betting) were lifted in 2021.
In Europe’s sports betting market, there is a significant contribution from the United Kingdom, France, and Italy. However, sports betting is legal in major European countries.
In Latin America, Argentina is on the top, and betting has been legal for the past five years. Mexico and Colombia are working on legalizing sports betting.
Betting is legal and regulated at federal and state levels; however, in-play betting is still illegal and must be done in person at a betting shop or over the phone.
In India, fantasy sports are legal, but sports betting is still restricted. Only three states, Sikkim, Meghalaya, and Nagaland, authorize betting.
In the African region, Nigeria is one of the countries where sports betting is legal, and the Nigerian Lottery Regulatory Commission regulates brick-and-mortar and online betting activities.
In Kenya, since 1966, the betting and licensing board has been active, and online betting has been legalized since 2011.
As a tourist destination, the Philippines is a sports betting-friendly country, and betting practices have been approved since 2012.
Now, most of the readers here will have a question: Why is online sports betting legal in only a limited part of the world? The next section of this blog has a suitable answer, so let’s continue.
Multiple reasons make sports betting app development popular, which we will later discuss in this section. The reason that sports betting apps like Bet365 are popular is entertainment while predicting game results.
It gives immense thrills to the people when they bet, challenge their mates, and win the amount online. The sports betting mobile app development made it possible to sit on a couch using a mobile screen, where you can bet on any sport.
Here are some of the top reasons why mobile sports betting apps have become popular.
As written above, it is one of the forms of entertainment where people enjoy sports betting online with their friends or family. Sports wagering is a favorite time-pass activity for many people, and it thrills them when their bet comes true.
Mobile apps like Bet365 have made it super convenient to place a bet on a favorite sport. With a single tap, you can experience the ultimate betting entertainment.
You do need to find a different medium for betting on different sports. Using a single app, you can place a bet on multiple sports such as Rugby, Baseball, Basketball, Cricket, Soccer, and others.
Most modern sports betting apps come with stats and analytics features where you can make an informed decision about your bet. A user can stay updated on trends and updates. Overall, it ensures accuracy that a user can leverage.
Although sometimes sports betting is a risky business, it is a way of making money if you have good knowledge about the players and sports. Based on your betting skills, you can win a good amount of money and bonuses. It allows you to earn money not only as a user but also as an app owner.
Manual betting is unsafe, and you may land in danger if you have contacted an unauthorized or unknown bookie for the betting. On the other side, using sports betting apps is safe and secure in terms of betting and personal data and information.
For developing any type of mobile app, it is always good to refer to the top apps. So, if you want to develop a sports betting app, one of the best references for you is Bet365.
It is a fantastic sports betting app, counted as one of the top sports betting brands worldwide, and has a good number of users (90 million customers worldwide).
Regarding licensing and regulations, it is regulated by MGA (Malta Gaming Authority) and affiliated with eGora (eCommerce and Online Gaming Regulation and Assurance). It uses the Thawte SSL Web Server Certificate for users’ security, which offers the best security.
You might have questions here: How does Bet365 make money?
So, let’s have a glimpse of Bet365’s business model.
Bet365’s previous year’s revenue was $3.4 billion, a 2.9 percent increase compared to the past years. For the current year’s revenue statistics, you must wait until the end of the year.
Here, its business model plays a significant role. Let’s have some insights about these.
Generating revenue from subscriptions is a common and effective business model that Bet365 also follows. It has 90 million users around the world as subscribers, and it also charges dormant users. It charges a nominal subscription fee to provide premium betting facilities.
Bet365 charges a commission on winning bets and a commission on placing bets; that is called Vigorish. Both are significant monetization methods for Bet365.
Sports betting apps and other types of apps follow this model to generate revenue. Bet365 earns from showcasing ads related to sports brands, franchises, and others. You can also consider this model for your next sports betting app like FanDuel, Bet365, or DraftKings.
Although brand promotion is an investment, Bet365 earns from it. Via brand promotion, the app is earning new users and sponsors that you can also follow to earn via your app.
Read more: Fantasy Sports App Development – The Ultimate Guide
These are the features that make Bet365 one of the best sports betting platforms. It would be best to include these features if you are planning a online sports betting software development.
The first interaction of users is with the Signup/Login feature. Using genuine e-mail ID, contact number, social ID, and banking credentials
This feature is available for eligible customers. It offers a boost that is higher than ordinary bets. The cash amount will be available for non-boosted bets.
It is one of the interesting features of Bet365. It allows users to place bets on a number of sports. A user can make a maximum of 12 selections, and the price will be calculated accordingly.
The edit bet feature allows you to add, swap, remove the bet, and increase the settled bets (pre-matches and in-play). After editing the bets, the price will be updated to reflect the current odds of the bet selections.
allows you to enjoy all the live moments of the matches. Users can view all games live via live streaming services available with the Bet365 App.
You can set the alerts for specific gaming events. You can set it as you wish.
A user can view the live score of any game in which they are interested.
Using the site search feature, users can locate the bet they are going to place.
It offers the quickest way to place the bet. Users only need to select the bet slip, then set the stake amount and place the bet.
The result notification allows you to get real-time notifications of bet results.
The above represents the key features of betting software like Bet365. Including these, you can also add other features such as marketing tools, payment integrations, content management, and others. For the best implementation of the features, it would be best to take the help of experienced sports betting app developers.
The cost of developing apps like Bet365 is largely determined by their features. There are other factors that also exist. So, let’s move on to the next section of this blog, which is about factors affecting the cost of making an app like Bet365.
The first question that comes to mind while planning to create an app like Bet365 is: How much does it cost to develop a sports betting app?
For budget preparation, every app owner must know cost-affecting factors, whether Fantasy sports app development cost or, sports betting, or any other app.
Let’s see what these are!
The platform has a big impact on app development cost. There are two major platforms, i.e., Android and iOS, that you can choose. The cost will be accordingly like- the cost to develop an Android app differs from the iOS app development cost.
The platform can also help you target customers from a specific region. Such worldwide Android users are more than iOS users. Overall, things will depend on which platform you choose, Android vs. iOS.
Another cost-influencing factor is the tech stack you will choose to develop the sports betting app. It contains app development tools, technology, database software, API integrations, and others. Each component contributes to estimating the cost.
These are the features that connect or distract users from the app. On the other hand, how many features you implement and include in the sports betting app will affect the cost. The idea is simple – the more features, the more cost.
The mobile app design covers a significant part of the cost. It includes wireframing, icon designing, logo designing, user interfaces, and other visual components. The more complex the design, the higher the cost.
The sports betting mobile app development cost and quality will depend on who develops your app. It is the work of dedication and experience that requires a cost. If you are going to hire the best app development team, then the cost will be higher, but you will have a high ROI later.
The third-party APIs come free and paid, which you can integrate based on your project’s needs. If you have decided to use the paid APIs, the cost will definitely increase.
Including the above-mentioned other cost-affecting features are app security mechanism, app maintenance, app marketing and promotion, business model, and others.
How much does it cost to develop an online sports betting app in USA? The answer to this question is critical to finding out.
Do not get shocked, as things depend on app development requirements. But yes, we can estimate the basic cost of developing an app like Bet365.
From the above section of this blog, you have an idea of the app development cost-affecting factors. The key factors contributing to the cost are the app’s complexity and the hiring cost of the app development team.
The average cost to hire sports betting app developers ranges between $10 and $25 per hour. Not only the developers, but they also have to pay the hiring costs of UI/UX designers, quality analysts, and others.
Let’s have a look at the average cost estimation of developing an app like Bet365 or FanDuel.
Based on the app’s version, the estimated cost could be:
In detail, including the development stages, the cost estimation could be the following:
Idea Evaluation and Business Analysis: $1500- $2000
| App Development Stages | Estimated Cost |
|---|---|
| UI/UX Designing | $5000-$7000 |
| Frontend and Backend Development | $8000-$12000 |
| Features Development | $5000-$10,000 |
| Testing | $5000-$8000 |
| Project Management | $2000-$3000 |
| API Integration | $2000-$3000 |
| The Estimated Cost Range | $28500-$45000 |
The above-mentioned cost is only a ballpark estimate; things may be different. It would be better to consult with a sports betting app development services provider for clear cost estimation.
In addition to the development cost, remember that some additional costs are also associated. You can consider it an additional expense after launching the app. These are:
The Bet365 app has millions of users, so it incurs a bulky server hosting cost that keeps the app live on the internet. So, here, you need to pay the hosting cost for your app. However, it will not be more at the initial level. The hosting service providers charge annually or monthly based on server requirements.
For a sports betting app that is real money-based, payment method integration is a must for deposits and withdrawals. The payment gateway, such as Stripe, PayPal, Amazon Pay, or 2Checkout charges per transaction.
| Stripe, PayPal, and Amazon Pay | 2.9%+$0.30 per transaction |
| 2Checkout | 3.5%+$0.35 per transaction |
The whole world is digital now, and brands are leveraging marketing tools and technology for business growth, revenue generation, and connecting with more customers. For app promotion and marketing, your spending could be on Google ads, social media ads, and more.
Sports betting is a legal matter, and for business, you must adhere to regulations and licensing requirements that require a fee. It may be possible that based on the country or any geographic region the fee may be different, but there are some licensing fees that exist.
It is such an exciting phase for you to launch a sports betting app for business. But do you know how to make cost optimization more exciting? By following some tips, you can reduce the development cost.
These are as follows:
With a vision, you can create wonder with your app, but it may be costly if you are unclear about your requirements. There are multiple times when entrepreneurs start with app development carelessly without clear requirements, resulting in higher costs since their ideas are changed frequently.
Launching an MVP is the best idea to reduce costs and launch the app in record time. It is cost- and time-effective. It can help you get real-time feedback on fundraising and gain more profit in less time. Later, based on real-time user experience, you can launch a final version.
Developing an app from scratch is good, but in terms of cost, it is best to use templates and customization. Off-the-rack templates facilitate developing the app at a reduced cost.
Any user will use your app to experience the thrill of sports betting. So, your first task is to create and implement a list of features that can entertain them more. If you are launching an app like Bet365 for the first time, focus on key features instead of making an unbalanced, feature-loaded app.
With cross-platform app development, you can develop a sports betting app like Bet365 with reduced cost, and its other advantage is that you can target multiple platform users with it, i.e., Android, iOS, and Web.
You can develop your app in two ways: either with an in-house team or via outsourcing. For in-house development, you need to hire the team, set up a space for them, and arrange the computer systems and other facilities that will cost you more.
The better idea is to hire offshore developers. There, you only need to discuss your requirements with them instead of making arrangements for app development. The offshore mobile app development team will handle it on their own. With outsourcing, you will have your app at a reduced cost.
The expected annual revenue for the online sports betting market is $43.55 billion. In the future, it will be more. There are multiple opportunities available with it that are yet to be grabbed. If you have decided to launch an app like Bet365 for business, then it is a fantastic decision.
Conversely, the cost of developing a Bet365 Clone would be an incredible investment. So make the decision accordingly. For the best results, consulting with an experienced sports betting app development company would be best. It can help you develop your app at an optimized cost and ensure the best user experience.
Arka Softwares, one of the recognized sports betting and fantasy app development companies, is here to assist you with all your sports app development queries. We would be happy to assist you.
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While the development is ongoing, the client is pleased with the work thus far, which has met expectations. ARKA Softwares puts the needs of the client first, remaining open to feedback on their work. Their team is adaptable, responsive, and hard-working.
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