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21 March, 2023

Sportsbook Software: White Label or Develop Your Own?

So, you’ve decided to start a sportsbook. Congratulations! You’ve identified an exploding market, seen an opportunity to put your creative stamp on the industry, and are ready to get started. What’s next? The first step in launching an online sportsbook is figuring out how you will power your sportsbook.

There are a few options you can choose from at this stage, with the two most popular being developing your own platform or outsourcing your sportsbook software to a reputable provider.

Both have their advantages and occasional pitfalls, though the vast majority of iGaming operators utilise a sportsbook software provider to develop their platform. We’ll take a look at and discuss the reasons why below.

Speed and efficiency – or not?

If you’re a software engineer or a developer, go ahead and skip this segment. You know full well how time consuming and expensive this process is. Developing sportsbook software in-house requires considerable resources and time at your disposal. A team of software engineers, UX designers, and a strong partnership with sports data providers are the building blocks of a successful sportsbook. Couple that with years of development time to reach full bug-free functionality, meet certification requirements and full regulatory compliance and you’ve got a pretty compelling argument to contract a sportsbook software provider.

A white label sportsbook solution arrives at a fraction of the cost and in a fraction of the time than developing your own sports betting software. The platform has already been designed, developed and tested by the provider, while being fully compliant with all necessary certifications. These solutions can arrive in as little as two weeks, allowing you to reach the market, start marketing your sportsbook, and start generating revenue faster.

Reputation is key

If you’re new to the space, establishing a positive reputation quickly is a difficult but necessary task. It’s important to have your player’s minds at ease, and allowing them to have full confidence in your sportsbook software is an excellent way to achieve this. By selecting a sportsbook platform provider, you not only benefit from their expertise, but also their credibility as you build your own. Good iGaming software providers have quality people leading the charge and a strong team behind them to ensure their product is the best it can be.

An added benefit of choosing a reputable provider is inherent stability and reliability. A positive reputation exists for a reason – your mind should also be at ease knowing that your sportsbook is operating as it should.

Scalability and mobile design in sportsbook software

A reputable sportsbook software provider should have scalable offerings that operate seamlessly on mobile devices and smartphones. The ability to have your sportsbook grow alongside your business is critical as your user base, reputation and presence in the marketplace expands. As your business begins to generate more revenue and your sportsbook must expand to accommodate traffic, a white label solution will be up to this task.

Furthermore, giving your bettors the ability to operate your sportsbook on their mobile devices is nothing short of critical. The amount of global web traffic originating from mobile devices is growing exponentially, meaning players are just as active on the go as they are at a desktop computer. A mobile first design doesn’t make concessions in performance as players run the sportsbook software on their phones. Opting for a white label platform takes this out of the equation entirely, as the best sportsbook software providers have this top of mind.

Sportsbook software needs a powerful back office

A major component of sportsbook software is a fully loaded, powerful back office, where administrators are provided with the tools and features to manage their business. This accounts for things like bonus systems, email marketing, intuitive dashboards, and Player Account Management (PAM) systems, in addition to analytics and financial management.

A white label solution will have a back office built directly into the sportsbook, with all necessary features ready to go. Having these tools available and presented in an intuitive manner can help you get moving quickly and efficiently while offering technical support.

What features does good sportsbook software have?

When narrowing down the list of potential sportsbook software candidates, you should look for the following features when making your decision.

  • Customizable design: While a white label solution comes polished and ready to operate, software providers should allow for full customizations. This includes things like colours and integrated custom branding throughout the platform, in addition to access to the engineering and UI/UX teams.
  • Regulatory compliance: Sportsbook software providers should have standard KYC (Know Your Customer) guidelines built seamlessly into their platform for fast, easy identity protocols. Furthermore, the best providers offer assistance in securing a gaming licence, regardless of your market and needs.
  • Odds and margins: You should have the best odds and margins built directly into your sportsbook platform. This allows for unrivalled pre-match and live odd feeds.
  • Live and in-play betting: Live betting ensures your players are completely plugged into your platform before and during events.
  • Comprehensive coverage: Providers should have coverage of hundreds of thousands of yearly events, and many thousands of live events per month over a multitude of leagues and sports.
  • Esports: Sportsbook software providers should take the world of esports betting into account, such as Lion Gaming’s integration with oddin.gg. League of Legends, Dota 2, Counter Strike and more are popular titles your bettors will look for with pre-match and live betting odds.
  • Secure payment gateways: Modern bettors don’t just rely on credit card and bank transfers to make wagers anymore. Secure payment gateways that can also accept cryptocurrencies are a must-have for recruiting and retaining bettors to your sportsbook.
  • Betting on the blockchain: Consider a software provider that utilises wagering on the blockchain. On-chain wagering and transactions offer an extra level of traceability, as the record on the blockchain serves as a public receipt of the wager.
  • Targeting emerging markets: An often overlooked component of a good sportsbook is the ability to appeal to emerging markets. These emerging markets offer the possibility of exponential growth, as sportsbooks and iGaming become increasingly popular with the expansion of mobile internet traffic.

Ready to explore Lion Gaming’s sportsbook software?

Contact Lion Gaming today for a free demo of our white label sportsbook software powered by the Fer0x Engine. Our team of industry leaders and our unmatched tech can help you and your sportsbook hit the ground running.

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