Mobile applications for sports betting are widely used in the digital world because they provide a convenient way to manage many bets at once and an interesting way to wager on matches. Sports betting app development helps the betting sector flourish despite its obstacles.

Sports betting apps are positioned to become a major trend with enormous economic potential in the upcoming years due to the move from land-based betting to online and live settings.

According to Statista, the online betting and gambling sector is projected to expand by an astounding $114.4 billion by 2028.

But in 2024, creating a profitable sports betting platform will need strategy, UI design, and technical expertise.

We’ll go over how to get started, what features to include, how much it usually costs, and the important steps you need to take to create a profitable betting app in this article. Now, let’s get started right now!

What is an app for sports betting?

An application for smartphones and tablets that enables real-time wagering on a variety of sports is known as a sports betting app. Sports fans are using these online betting platforms more and more since they are convenient and provide a variety of betting alternatives.

Statistics for Sports Betting Apps

Now that you are aware of these applications, let’s examine some important data and see what it might reveal about the possibilities of Sports Betting App Development.

• The online sports betting industry is predicted to generate US$1.97 billion in revenue by 2024.
• With revenue expected to grow at a compound annual growth rate (CAGR) of 6.51% from 2024 to 2029, the market is expected to reach US$2.70 billion in value by that time.
• By 2029, there will likely be 18.9 million consumers in the online sports betting sector.
• By 2024, there will be 1.0% user penetration, and by 2029, 1.2% is anticipated.
• It is anticipated that the average revenue per user (ARPU) will be $135.40 USD.
• Australia is predicted to make the highest money from online sports betting globally (US$9,757.00m in 2024).
• Canada has the greatest user penetration rate in the online sports betting business, estimated at 48.8%.

Common Sports Betting App Types

Applications for online sports betting come in a variety of forms, such as straight bets, moneylines, teasers, parlays, prop bets, and cryptocurrency sports betting.

Every kind of software has different features and betting possibilities and caters to a particular user base. Let’s get into more detail about some of the most popular categories of sports betting apps:

1. Sports Betting Using Cryptocurrency

The greatest alternative if you’re looking for safer withdrawal methods and larger incentives is to wager on cryptocurrencies. These days, a lot of people use this kind of sports betting app, which is mostly based on Bitcoin and other cryptocurrencies.

2. Linear Forecasts

One of the most popular wager kinds available to sports bettors is a straight bet. Sports like basketball and football are very popular with these kinds of applications. Users that participate in this kind of betting wager on the combined point totals of both teams.

3. All Line Bets

A different option to wager on your basketball and soccer teams is using Total Bet. The sum of the points earned by the two groups determines it.

4. The Moneyline

Users of this popular sports betting app simply place wagers on the winner. Better will receive a bigger or smaller payoff depending on whether they are the favorites or the underdogs.

5. Spreads of Points

In the United States, point spread betting is the most widely used kind of sports betting. The purpose of the app is to match two teams on an equitable playing field by comparing the respective strengths of the two teams. In order to estimate a margin of victory, the point spread takes into account the scoring units employed in each event, such as runs, goals, or points.

6. Parlay Bets

For sports that are beginner-friendly, this type of app is entertaining and simple, drawing in users who have never bet before. Prop betting involves placing bets on event specifics without having to know anything about the team you are rooting for.

7. Relay

Parley blends several wagers into a single wager. The probability of winning increases with the number of bets added to the pool. However, you will forfeit your entire wager if you lose one of your bets.

The advantages of developing sports betting apps

Apps for sports betting have several benefits for both players and business owners. The finest examples of it are apps like FanDuel and DraftKings, which have significantly altered the betting landscape.

Some advantages of utilizing and developing a sports betting app include the following:

• Practicality
• Experience of the User
• Increased Inquiry
• The Market Has Few Rivals
• Availability of Various Games
• Constant Access
• Strengthened Secrecy
• Exercise and Unstructured Play
• Bonus for Mobile

The majority of mobile sports applications make it rewarding for users to place bets by providing subscription bonuses for both downloads and mobile sports betting. This not only guarantees a positive user experience but also makes the program more appealing to download.

How Do I Create an App for Sports Betting?

After looking at the benefits that sports betting apps provide for users and business owners, we move on to the major portion of this guide: how to develop a sports betting app in 2024.

Step 1: First, obtain a license.
Step 2: Review the Regulations for Gambling Publications
Step 3: Decide on a method of payment
Step 4: Select a development organization
Step 5: Create a UX/UI Concept
Step 6: Research sportsbook operators
Step 7: Let go and keep an eye on

Essential Features for Sports Betting Apps

You also need to consider the admin functions of the app in addition to the features that facilitate user interaction with the various app components.

You can easily access, manage, amend, and update the data for your own sports betting app with the help of admin features. You might want to think about the following functionalities for both the admin and user sides:

User’s side

Some essential user-side features for a sports betting app are as follows:

• User login and registration
• Services for live streaming
• Past betting activity
• A variety of betting choices
• Cash in and out of the app

Administration

• Data examination
• Customer service
• Monitoring payments
• Management of security
• Processing of payments
• Management of users
• Management of Bets
• Management of odds
• Promotions and marketing

Recommended Tech Stacks For Developing Sports Betting Apps

The database, coding framework, and programming language utilized in the creation of apps and software are referred to as tech stacks.

The technologies listed below are some things you should think about when developing an online betting gaming app.

Languages and Frameworks

• Web: Vue, React.Java
• Mobile: Kotlin, and Swift
• Hybrid: React Native and Flutter

Backend

• PHP Laravel
• Node.js
• Django / Python

Database & Storage

• Relational databases
• PostgreSQL
• MySQL

How Much Does Developing an App for Sports Betting Cost?

“How much does it cost to develop a sports betting app?” is a question that many business owners and entrepreneurs who are considering launching their own sports betting app frequently ask.

Prior to delving into the expenses, it is crucial to comprehend that the pricing of mobile app development is contingent upon the fundamental necessities and specifications of the enterprises.

You can determine the precise cost of app development for your sports app after you are aware of the final specifications.

Creating a sports betting software with cutting-edge features and functions often costs between $25,000 and $50,000 for a single platform (Android, iOS, or Web). But there are a lot of things you should know about because they really do matter when it comes to how much development will cost in total.