Gambling Software · 14.05.2024 0

White Label Sportsbook Software

Are you interested in entering the online betting industry? A white-label sportsbook could be the perfect solution for your online betting venture. Online betting is one of the fastest-growing sectors in the global iGaming market, with Europe leading the way. In the UK, sports betting accounts for over 41% of total iGaming revenue, and the Gross Gaming Yield for remote sportsbooks totaled £2.6 billion in the UK between April 2020 and March 2021, according to the UK Gambling Commission. If you want to join this lucrative market, launching your own betting platform may be a viable option. However, if you don’t have the resources, time, or expertise to build a site from scratch, a white label solution could be the best path forward. A white label sports betting platform provider will provide you with all the necessary licenses, products, and services to operate a legal and secure betting site. This means you can focus on marketing, customer acquisition, and growth, while the provider handles the technical aspects of the site. With a white label platform, you can enter the market quickly and efficiently, without the hassle of building a site from the ground up. This can be a cost-effective option, as the provider will handle the licensing and compliance requirements, leaving you free to focus on your business strategy.How will you determine if white label sports betting software is the right fit for your business? At Casinnovate, we provide detailed information on this type of software for bookmakers and what to expect from this solution, to help you make an informed decision. Top White Label Sportsbook Providers
White Label Sportsbook Software

What is a White Label Sportsbook Platform and How Does it Work? A white label sportsbook platform is a pre-built solution that includes all the necessary components for running a sportsbook business. It is an excellent option for those wishing to enter the sportsbook industry, which boasts over 200 million users worldwide and a projected annual revenue of more than $400 billion. Starting a sportsbook from the ground up is not only time-consuming but also expensive and requires significant knowledge and effort. In addition to obtaining a license, payment processing, and sportsbook software, there are several other technical aspects to consider, such as programming, website design, and ensuring a secure environment with customer support, data analysis, CRM, and marketing components.White label sportsbook software providers offer a package that includes all the essential betting software required for bookmakers to start their own brand and market it in a short period of time. What to Expect from a White Label Betting Software Package The products and services offered by sportsbook software providers can be supplied either in-house or through a third-party partner, or both. A typical white label betting platform may include the following: 1. Sports & Betting Software Access to all the features and elements that players expect in today’s iGaming platforms is provided. Additionally, as B2B providers, entrepreneurs should have access to services and technologies that are crucial in such a competitive market, including:Numerous sports – Sports from around the world, as well as virtual and eSports events – including pre-match and live events. Popular competitions and matches. PMU (parimutuel) betting – Also known as “pool betting”, this system combines several bets of the same type, allowing for diversification. Advanced betting tools (such as Edit Bet, Quick Bet, Maxbet, and Bet Builder). Different cash out options (such as partial, full, and auto). Boosted odds. Odds feeds and trading services. Different odds formats (such as European, US, and Asian). License and compliance. You will be provided with fully compliant software and a license for gambling that you need to legally operate and market your sportsbook to your target audience. This means that you will operate under the license of the platform provider. However, this does not necessarily allow you to operate globally. Therefore, you should discuss all details with the provider, as we will discuss this in more detail later. Some examples of licenses that are provided include: payment processing.Ready-to-use fiat sportsbook payment processing options are one of the benefits of opting for a white label online sports betting platform. This includes: Popular payment methods – (e.g., credit/debit cards, prepaid cards, eWallets, bank transfers) Other types of payments – (e.g. mobile wallets and cryptocurrencies) Multiple currency options A flexible front-end system An easy-to-use, fast-performing, and flexible sports betting interface is a part of any reputable white label sportsbook solution. Bettors should be able to navigate the platform or application easily and quickly access deposits, withdrawals, and promotions through their preferred device. The flexible front-end may include: Standard or customizable templates Quick integration Omni-channel availability – Bettors can access the platform via desktop, laptop, mobile, tablet, and native iOS and Android applications Multiple languages Web-based – No need for bettors to download or install software Strong back-end toolsIt is essential to monitor and manage the back-end processes of your business. Back-end tools may include: risk management tools, stable security, fixed limits, viewing players, real-time reports, anti-fraud prevention, management of events and markets, detailed betting history and statistics, and customer support. Customer support services for betting businesses can include both technical support for entrepreneurs and customers of a new platform. Features may include multiple communication channels (such as email, phone, live chat, and online messaging), multilingual support, VIP support, marketing, and CRM.The best sports betting software provides marketing systems tools to help you attract customers to your website. It also offers CRM (Customer Relationship Management) systems to help you get to know your customers better and build stronger relationships with them. CRM marketing is essential for long-term customer retention. Examples of marketing and CRM features may include: – Advanced player segmentation – Tracking player behavior (e.g., average bet, average win, average loss) – Bonuses (e.g., free bets, accumulator bonus, wagering bonus, profit boost) – Personalized marketing strategies – Affiliate marketing program

White label solutions are a fast and cost-effective way to get started in the sportsbook industry. Casinnovate reviews various white label providers that offer comprehensive packages that include all the essential features needed to launch a brand-new sportsbook in a short period of time. The cost of starting a white label sportsbook varies depending on the provider and the package selected. Generally, the initial start-up cost can range from $20,000 to $55,000 or more. While this may seem like a significant amount, it is important to consider that building and operating a sportsbook from the ground up can cost hundreds of thousands of dollars. Therefore, a white label solution is often more cost-effective than building a custom solution.That being said, please be aware that costs and fees associated with your white label sportsbook business will continue to be incurred. It is always advisable to contact the company of your choice directly to obtain a formal quote for the service or product that interests you and to inquire about all costs, from initial setup costs to annual subscription fees. In addition to obtaining a quote, many providers also offer the option of requesting a free demo of their sportsbook software. *Note: The price range provided above is for illustrative purposes only. Actual prices may be higher or lower, and it is always best to obtain a precise quote from the relevant provider to determine the exact amount of capital required. White Label Sportsbook Platform Pros and Cons There are several advantages and disadvantages to this type of service. Some of the most common include:Pros ProsLicense is Included – You do not need to go through a complex and lengthy process to obtain a license. Low-Cost Start-Up – The initial start-up costs for a white label solution are significantly lower than turnkey and API (self-service) options. Payment Processing Integration – Access to secure and reliable local and international payment methods is available. B2B and B2C Support – Support is provided for you and your customers. Risk Management and Anti-Fraud Tools – All necessary security measures are in place. Fast Launch – A white label service can be operational in as little as one month. Cons Limitations and Restrictions – The supplier is responsible for selecting many aspects (e.g., software, payment systems, templates, marketing campaigns) for your brand.Limitations can include licenses: iGaming businesses must also comply with regional regulatory frameworks. Therefore, it is important to understand what licenses are included in order to determine which markets can be targeted. Supplier takes a percentage of profits – You will only receive a percentage of the revenue generated by your brand. The remainder goes to the provider of the platform. You do not own the platform – You do not independently own your sportsbook. You technically rent the operations from the provider. With 23+ years of experience, 50+ B2B partners, and 35+ iGaming events, 20+ iGaming solutions, and 30+ reviewed platforms, we can help you determine whether a white label sportsbook is the right choice for your business. Before making any final decisions, consider the following:When considering a partnership or collaboration with a sports betting platform, it is essential to understand the terms and conditions of the agreement. Ensure that you fully comprehend what products and services are included in the partnership, as well as any limitations and responsibilities that may be associated with it. It is important to keep in mind that the supplier of the products and services is responsible for the operational details, and they will provide everything necessary. You may have limited control over customizing your brand and marketing, so it is crucial to consider all the costs associated with the partnership. These can include not only the start-up costs but also other fees, such as those related to pricing and payment schedules. Additionally, be aware that your business’s revenue will be shared between you and the platform provider. The platform provider may take a higher percentage of the profits (e.g., 60%), so it is essential to have a clear understanding of your cut of the profits. Finally, research your competition in the online sports betting industry, which is a highly competitive and multi-billion-dollar global market. Understanding the competition will help you make informed decisions and develop a successful strategy for your business.To stay competitive, it is essential to identify your top competitors in your target market. You need to understand the landscape in which you operate in order to develop a successful marketing strategy. Choose a reputable provider – Not all sportsbook agency sites are trustworthy or reliable. Take the time to research the companies that interest you and investigate their partners. Request a demo or quote – If a free demo or quote is available, request it. This will give you a better understanding of what to expect from the white-label package being offered. Even if demos or quotes are not advertised on a company’s website, do not hesitate to contact their support team for further information about solutions that interest you. With this information in mind, it is crucial to consider some key data points before embarking on your journey.

Final Thoughts When all is said and done, white label sports betting software can be an ideal choice for those new to the industry or those looking to launch a sportsbook quickly at a lower cost. Although a white label solution may not be the cheapest option, it is still considerably less expensive than turnkey or API solutions. Additionally, the convenience of working with a supplier familiar with the industry to provide all the products and services needed to run a digital sportsbook is undeniable. Ultimately, only you can determine what is best for your goals. Use our free business plan to start your journey with a clear path. FAQ What software do sportsbooks use?Whether it is white-label sportsbook software, turnkey sportsbook solutions, or pay-per-head bookie software, bookmakers utilize various types of software, services, and products to operate an online betting platform. The software typically includes a comprehensive sportsbook offering (covering multiple sports and non-sporting events), a racetrack book, coverage of hundreds to thousands of betting markets, advanced betting features, cash-out options, odds feeds, trading capabilities, and other features.

What is the most suitable betting software? The most suitable type of betting software for bookmakers is software provided by a trusted sportsbook solutions provider. These providers include online betting software platforms that we review and recommend. Such software utilizes the latest technologies, ensuring a seamless and secure cross-platform experience for bettors. It also provides essential payment processing systems, customer support, Know Your Customer (KYC) systems, and back-office tools necessary for a secure operation.

Is it illegal for individuals to engage in betting activities with bookmakers? No, it is not illegal for individuals to place bets with licensed and regulated bookmakers. It is therefore essential for businesses that intend to offer online sportsbooks to partner with software providers who can provide licensed and compliant products, services, and solutions that are appropriate for their target market.

s there a betting algorithm? Yes, sports data companies provide betting solutions based on artificial intelligence (AI), which is a mathematical formula that analyzes and evaluates data in order to answer complex questions. AI algorithms for sports betting utilize relevant data, such as player and team statistics, to predict the outcomes of sporting events. There are two main categories of betting algorithms: betting arbitrage algorithms (which take advantage of changing odds for a specific sports result) and value betting algorithms (which consider previous data and propose potentially profitable betting strategies).

Is white label bookmaking software the same as pay per head bookmaking software? While the fundamental concepts of the two may be similar, they are not exactly the same. Both options allow independent bookmakers to fully automate their sports betting operations. However, white label software is designed for a large, commercial sportsbook, with the goal of reaching sports bettors across the country and internationally. Pay per head bookie software, on the other hand, is designed for online businesses with a specific group of customers who place bets. Another major difference between these two options is in terms of cost. White label sports betting solutions include a revenue-sharing program to cover the cost of the service, whereas pay per head solutions are linked to the number of active users, charging a small fee regardless of betting volume or wins or losses.