Any new techniques that help in making money in the most unprecedented fashion are bound to get under legal radars. This was the case with sports betting app. It was found to violate the PASPA (Professional and Amateur Sports Protection Act of 1992). However, the Supreme Court of the United States (SCOTUS) passed a verdict in May 2018, stating that it is a game of prediction and not something that falls under mainstream betting.
A lot of states have legalized sports betting in the United States, and the market size for this industry is growing steadily. An Eilers and Krejcik Gaming research has estimated that the sports betting revenue will be to the tune of a little over $6 billion by 2023. While the absolute number might not look massive, the growth from less than a billion dollars in 2018 is a promising upward curve, especially for businesses that are looking to develop sports betting applications.
Creating a Sports Betting Application
The estimated growth of the market for sports betting has been a catalyst in increasing the market for and the business numbers of sports betting app. The obliteration of the legal hassles has given a fillip to the growth of such business ideas. There are good chances that a lot of entrepreneurs are already impacted on their journey to creating one such app.
However, what differentiates a good application from a mediocre one is the way in which a customer engages with it. The engagement can be brought about by customization.
Customization should be poised towards providing a better user experience that will keep the app users hooked to your product.
Here are a few aspects that you should keep in mind when customizing your sports betting application.
Even the most complicated and robust software and programming can fall flat if your application lacks the intuitiveness. The users should be able to navigate through the application without any difficulty.
If the element of customization needs to be taken a notch higher, it might be a good idea to introduce personalization. A personalized and intuitive experience best suits all segments of users, and especially the Gen Y users and the Millenials – their expectations are high on these lines.
An easy, intuitive and mobile-friendly sports betting solution is bound to go a long way in engaging the users and growing the business.
It is true that the users started to use your sports betting solution for the purpose of wagering and winning money. However, if all the applications can offer the same utility, you will need to make a difference by providing an extra element of engagement.
The engagement can be brought about by providing live scores, adding a social media aspect to your app where users can interact with each other, and probably a learning platform where users can get expert advice on how to place their sports bets.
Although not essentially a feature to customize, this simple feature goes a long way in making your sports betting app of massive success. It is to be admitted that the users have engaged with your app with the sole purpose of making money, and your app should facilitate smooth financial transactions.
It is important for the sports betting solution to accommodate multiple payment methods, partner with the right financial institutions for affecting timely payments. It is equally important to secure the payment systems to fend off any fraudulent and malicious activities.
The Melbourne Cup was plagued by scams, and this dubious example should be an instance enough for sports betting companies to secure their transactions and finances.
To make a business out of your sports betting app, it is a basic necessity to formulate a two-way benefitting process. That is, Developers need users and the users in turn need good apps. So it is not only important to build great apps but also to make it fit to the requirements of the users.
In most cases, the technology that governs the functionalities of a sports betting solution is almost similar. The place where a sports betting business can make a difference is in the elements of customization. Hence, incorporating a flawless algorithm that can easily be customized is a definite add-on that consequently makes an app perfect.