Building a betting platform
To find out about a country's attitude towards online betting, see Simon's Guide to Online Gambling Legal Status and Laws.
It's periodically updated and includes an interactive map. In the USA, individual state laws determine how online betting is treated.
Check out gamblingcompliance.com and Best Betting Sites in India for current legislation and the latest news on the subject. An interactive map is also available.
Three design approaches
Completely bespoke solution
The cost of this option can be seen in the example of Bet365. The site is registered in Gibraltar, so $30,000 was paid for registration, $100,000 a year is spent on taxes (the site has many licenses, not just for sports betting). Development of the site cost 80-100 thousand dollars (plus the same amount for mobile app). Several million dollars were spent on promotion.
Thus, development of a site similar to Bet365 will cost between $300,000 and $3 million. Focusing on a small niche will reduce marketing costs, but it will have almost no effect on the cost of developing the site. One advantage of going this route is that you will be in complete control of the process and will own the programming code.
Using White Labels
They range in price from $10,000 to $350,000. The cost of expensive options includes the site itself (a template with limited design and functionality customization), the application, payment processing and promotion. So all you'll have to do is design and general management. In return you will have to pay a certain percentage of gross revenue or profit. Overall this is the best option for launching your own website if you are on a tight budget.
Become a licensee
The most budget-friendly approach, allowing you to stay within the $5,000 to $60,000 range. In essence, you will be working under someone else's license as an agent to attract clients in exchange for a certain commission on their spending. That is, you will be marketing and attracting traffic to someone else's site.
Regardless of which route you choose, make sure that the software will meet the following requirements:
- secure currency gateways with support for multiple currencies;
- there is customer support and a customer relationship management (CRM) system;
- you understand how the betting system works;
- great coverage of different types of bets;
- the software is licensed.
Which country to be licensed in
Building an online sports betting business on the internet is not an easy task and requires a lot of money and a proper license. Getting a license is not possible everywhere, as some countries do not allow such businesses, and there are countries where online betting is punished not only by the entrepreneurs, but also by the players. They are mainly from the Middle East and Asia. In Europe, betting is completely banned only in Poland.