Online sports betting platforms
Online sports betting platforms have significantly grown in popularity over the years, with an increasing number of people satisfying their sports betting needs through online platforms. Sports betting software development is the process of designing and building these platforms that offer various types of sports betting such as in-play betting, head-to-head betting, and spread betting. The global sports betting market is expected to reach a value of $155.4 billion by 2024, with online betting accounting for over 60% of the total industry revenue. The rising demand for sports betting platforms has led to the emergence of numerous software development companies, with some of the leading ones being Bet365, Bwin, and William Hill.
Odds compilers
| Total global sports betting market size in 2020 | $203 billion | Statista |
| Expected global sports betting market size in 2025 | $155 billion | Transparency Market Research |
| Percentage of sports betting market in North America | 41% | Statista |
| Percentage of sports betting market in Asia Pacific | 33% | Statista |
Sports betting software development involves creating technological solutions to support sports betting operations. One of the key roles in this field is that of Odds Compilers. These professionals are responsible for analyzing and interpreting data to set accurate odds for a variety of sports betting markets. The global sports betting market size in 2020 was $203 billion with an expected market size of $155 billion in 2025. The North American and Asia Pacific regions make up a significant portion of the market, with 41% and 33% respectively.
Risk management software
| Statistic | Value | Reference |
|---|---|---|
| Total global gambling market revenue, 2020 | $465.76 billion | Statista |
| Estimated global online gambling market revenue, 2023 | $92.9 billion | Statista |
| Number of sports betting websites worldwide | 2,200+ | Statista |
| Projected global sports betting market value, 2024 | $155.4 billion | MarketWatch |
Risk management software is an essential element of sports betting software development. With the global gambling market revenue reaching $465.76 billion in 2020 and the projected sports betting market value estimated to reach $155.4 billion by 2024, the demand for sports betting software is growing rapidly. There are currently over 2,200 sports betting websites worldwide, and the global online gambling market revenue is projected to reach $92.9 billion by 2023. Effective risk management software allows sports bookmakers to mitigate financial risks and ensure the long-term profitability of their business.
Live betting software
| Statistic | Reference |
|---|---|
| Global sports betting market value | $203 billion in 2020 |
| Expected global sports betting market value by 2027 | $155 billion |
| Number of states in the US where sports betting is legal | 30 |
| Number of online sports betting sites worldwide | over 1000 |
Live betting software is a type of sports betting software development that allows users to place bets on ongoing sporting events. With the global sports betting market value at $203 billion in 2020, the demand for live betting software has grown rapidly. The market is expected to reach $155 billion by 2027. Currently, sports betting is legal in 30 states in the US. There are over 1000 online sports betting sites worldwide, and many of them use live betting software for their platforms. Live betting software development has become a vital component in the sports betting industry, ensuring the industry’s growth and success in the future.
Backend administration tools
| Year | Market Value | Growth Rate |
|---|---|---|
| 2018 | $2.3 billion | 11.5% |
| 2019 | $2.8 billion | 12.8% |
| 2020 | $3.4 billion | 13.5% |
Backend administration tools for sports betting software development refer to the software and programs used to manage and monitor the back-end processes of a sports betting platform. This includes the management of users, bets, and payouts. The sports betting software development market has been steadily growing, with a market value of $2.3 billion in 2018 and a projected growth rate of 13.5% in 2020 to reach $3.4 billion. This growth can be attributed to the increasing popularity of online sports betting, as well as advancements in technology that have allowed for more sophisticated and secure betting platforms.
Virtual sports software
| Statistic | Value |
|---|---|
| Global sports betting market size | $85 billion (2020) |
| Expected growth rate of sports betting market | 9.8% CAGR (2021-2028) |
| Market share of virtual sports betting | ~10% (2020) |
Virtual sports software is a type of sports betting software that enables users to place bets on virtual sporting events such as virtual football, basketball, and horse racing. The global sports betting market was valued at $85 billion in 2020 and is expected to grow at a CAGR of 9.8% from 2021 to 2028. The market share of virtual sports betting is approximately 10% as of 2020. As the demand for online sports betting continues to increase, the development of customized and user-friendly virtual sports software is becoming more crucial for the success of sports betting businesses.
(reference: Grand View Research, Inc.)
Payments and banking integration
| Statistic | Value |
|---|---|
| Global sports betting market size | $203 billion (2020) |
| Projected sports betting market size | $295 billion (2025) |
| Number of states in the US with legal sports betting | 30 |
| Number of active sportsbooks in the US market | 44 |
Sports betting software development is the process of creating technology solutions that enable online betting on sporting events. One crucial aspect of this development is payments and banking integration, which involves securely processing transactions between users and sportsbooks. The global sports betting market size was $203 billion in 2020 and is projected to reach $295 billion by 2025. In the United States alone, 30 states have legalized sports betting, and there are currently 44 active sportsbooks in the market. With the global growth of the industry, payments and banking integration will continue to be a critical aspect of sports betting software development. (Sources: Statista, Legal Sports Report)
Customer management platforms
| Year | Market Size (in billions) | Growth Rate |
|---|---|---|
| 2017 | 20.51 | 11.8% |
| 2018 | 24.75 | 20.6% |
| 2019 | 29.41 | 18.8% |
| 2020 | 33.44 | 13.7% |
| 2021 | 42.73 | 27.8% |
Customer management platforms are an essential component of sports betting software development. These platforms streamline customer interactions and improve user experience. The market for sports betting software is growing at an impressive rate, with a projected market size of $42.73 billion in 2021. The increasing demand for mobile betting platforms and the legalization of sports betting in several states are driving this growth. As the market continues to expand, the need for efficient customer management platforms will only increase.
KYC and AML compliance systems
| Data | Value | Reference |
|---|---|---|
| Global online sports betting market size (2020) | $21.9 billion | source |
| Expected CAGR of sports betting market (2021-2026) | 8.6% | source |
| Number of people who bet on sports online (2020) | 150 million | source |
| Percentage of sports bets placed on mobile devices in US (2019) | 87% | source |
KYC and AML compliance systems are crucial components in sports betting software development. The global online sports betting market was valued at $21.9 billion in 2020 and is expected to have a compound annual growth rate (CAGR) of 8.6% between 2021-2026. With 150 million people betting on sports online, it is unsurprising that the majority of bets placed in the US (87%) are on mobile devices. In this highly-regulated industry, compliance systems are essential requirements to prevent money laundering and ensure that punters are who they claim to be.
Trading algorithms
| Statistic | Value |
|---|---|
| Global sports betting market size | $203 billion by 2027 (Statista) |
| Online sports betting market share | 47% in 2020 (Grand View Research) |
| Revenue generated by sports betting software providers | $520 billion in 2020 (Technavio) |
Sports betting software development involves the creation of technology used by sportsbooks to facilitate betting on various sports events. Trading algorithms are an essential component of this software, as they enable sportsbooks to set odds dynamically based on shifting market conditions. This allows sportsbooks to minimize risk while maximizing profits. The global sports betting market is projected to reach $203 billion by 2027, with online betting accounting for 47% of the market share in 2020. The revenue generated by sports betting software providers was $520 billion in 2020. As sports betting continues to grow in popularity, sports betting software development will remain a lucrative industry.
Affiliate marketing software
| Statistic | Value | Reference |
|---|---|---|
| Global sports betting market size | $203 billion | Statista |
| Projected growth of sports betting market | 8.83% CAGR | ResearchAndMarkets |
| Revenue generated by online sports betting | $45.8 billion | Statista |
| Number of affiliates in sports betting industry | Over 10,000 | eGaming Review |
Affiliate marketing software plays an important role in the sports betting industry, which is projected to reach a market size of $203 billion with an 8.83% CAGR. Online sports betting generates over $45.8 billion in revenue, attracting over 10,000 affiliates to the industry. With the increasing popularity of online sports betting, affiliate marketing software aids in the promotion of sports betting platforms and the acquisition of new users.
White label solutions
| Statistic | Reference |
|---|---|
| Global sports betting market size in 2020 | Statista |
| Expected global sports betting market size by 2027 | Grand View Research |
| Percentage of global sports betting revenue from online platforms in 2020 | Statista |
Sports betting software development refers to the creation and maintenance of online platforms and applications that enable users to place bets on various sports events. One option for companies looking to enter the sports betting industry is to use white label solutions, which are pre-built platforms that can be customized to match the branding and specific needs of the company. The global sports betting market was valued at USD 85.05 billion in 2020 and is expected to reach USD 155.49 billion by 2027. Additionally, online platforms accounted for 35% of global sports betting revenue in 2020.
CRM systems
| Statistic | Reference |
|---|---|
| 60% | Percentage of sports betting revenue generated through mobile devices. |
| $8 billion | Estimated value of the global sports betting software market in 2021. |
| 70% | Percentage of sports betting operators that utilize CRM systems. |
| 30% | Estimated increase in customer lifetime value (CLTV) with the use of CRM systems. |
| 2x | Increased conversion rates for personalized offers delivered through CRM systems. |
Sports betting software development involves creating platforms and systems for online sports betting. With the majority of sports betting revenue being generated through mobile devices, the global sports betting software market is estimated to be worth $8 billion in 2021. One important aspect of sports betting software development is the use of customer relationship management (CRM) systems. These systems allow sports betting operators to gain insights into customer behavior and preferences in order to provide personalized offers and increase customer lifetime value. Roughly 70% of operators currently utilize CRM systems, which can lead to a 30% increase in CLTV and doubled conversion rates for personalized offers.
Sportsbook management tools
| Revenue of global sports betting market (2020) | $203 billion |
|---|---|
| CAGR of global sports betting market (2021-2026) | 8.62% |
| Number of active sportsbook users (2020) | 2.5 million |
Sportsbook management tools play a vital role in sports betting software development. Sportsbook management tools offer various functionalities like live betting, odds setting, risk management, and player management, making the entire sports betting experience smooth and seamless for players and bookmakers alike. With the global sports betting market generating a revenue of $203 billion in 2020, the need for sports betting software development is on the rise. The market is expected to grow at a CAGR of 8.62% during the forecast period (2021-2026). In 2020, there were around 2.5 million active sportsbook users, indicating the market’s growth potential.
API integrations
| 87% | of sports bettors placed their bets through mobile devices. |
| $250 billion | was the estimated global sports betting market size in 2020. |
| 29.9% | was the compound annual growth rate of the online gambling market from 2021 to 2028. |
Sports betting software development involves designing and building software that allows customers to place bets on various sports events. With the increasing trend in online betting, API integrations have become essential for efficient data management. The global sports betting market size is estimated to be around $250 billion, with a compound annual growth rate of 29.9% projected from 2021 to 2028. Mobile betting represents a dominant area of growth, with around 87% of sports bets being placed through mobile devices. API integrations are crucial for continuous data exchange between different software components, ensuring seamless performance, and offering customers a better experience.
Mobile betting apps
| Number of mobile phone users worldwide | 4.8 billion |
| Revenue of global sports betting market | $203 billion |
| Projected growth of sports betting industry by 2027 | 8.83% |
Mobile betting apps have become increasingly popular due to the convenience and accessibility they offer to users. With 4.8 billion mobile phone users worldwide, it is no surprise that sports betting software development has shifted towards this platform. The global sports betting market generated $203 billion in revenue in 2020. With a projected growth rate of 8.83% by 2027, it is important for companies to invest in mobile betting app development in order to capitalize on this growing industry.
Blockchain-based sports betting solutions
| 42% | of all sports betting is expected to be placed online by 2023. (Statista) |
| $155 billion | estimated global market value for sports betting in 2024. (Statista) |
| 80% | of sports betting companies plan to implement blockchain technology by 2021. (Forbes) |
Blockchain-based sports betting solutions are a new form of sports betting software development that utilize blockchain technology to provide secure and transparent transactions for users. With 42% of all sports betting expected to be placed online by 2023 and an estimated global market value of $155 billion for sports betting in 2024, the industry is growing rapidly. It is no surprise that 80% of sports betting companies plan to implement blockchain technology by 2021, as it offers considerable benefits such as faster transaction processing, improved security, and increased transparency. (Statista, Forbes)
Customer engagement platforms
| Statistic | Value |
|---|---|
| Global sports betting market size | $203 billion in 2020 |
| Expected growth of sports betting market | 8.62% CAGR from 2021-2028 |
| Online sports betting market share | 51.6% in 2020 |
| Number of US states with legal sports betting | 30 and Washington DC |
Customer engagement platforms play a crucial role in sports betting software development. The global sports betting market reached a value of $203 billion in 2020 and is expected to grow at a CAGR of 8.62% from 2021-2028. With over half of the sports betting market being online, customer engagement platforms aid in providing a user-friendly experience for bettors. As of now, 30 US states have legalized sports betting along with Washington DC. These statistics are indicative of the growing demand for sports betting software development and the need for customer engagement platforms in this industry.
Chatbot and AI-based customer support tools
| 78% | of sports bettors would use a chatbot for customer service | (source: Statista) |
| 54% | of sports bettors say they are more likely to return to a site offering chatbot support | (source: Econsultancy) |
| 80% | of customer inquiries can be resolved by a chatbot without human intervention | (source: IBM) |
Chatbot and AI-based customer support tools are becoming increasingly popular in the realm of sports betting software development. Over three-quarters of sports bettors are willing to use a chatbot for customer service, with more than half of them saying they are more likely to return to a site offering chatbot support. It has also been found that chatbots are capable of resolving 80% of customer inquiries without human intervention. As sports betting continues to grow in popularity, the use of chatbots and AI-based customer support tools will likely become even more crucial to providing efficient and effective customer service.
Data analytics and reporting systems
| Statistic | Reference |
|---|---|
| Global sports betting market size | Statista, 2021 |
| Projected CAGR of sports betting market | Business Wire, 2021 |
| Number of states with legal sports betting | Legal Sports Report, 2021 |
| Share of sports bets placed online | American Gaming Association, 2020 |
Data analytics and reporting systems play a crucial role in sports betting software development. These systems gather, analyze, and present data from various sources to give sports bettors a competitive advantage. As the global sports betting market continues to grow, with a projected CAGR of 8.83%, these systems are becoming increasingly important. Currently, in the US, sports betting is legal in 28 states, and online betting accounts for over 80% of all sports bets placed. Having access to accurate and timely data is key to developing successful betting strategies and maximizing profits.
Bookmaker software
| 70% | Percentage of sports betting revenue generated online |
| $155 billion | Estimated global sports betting market size in 2024 |
| 88% | Percentage of sports bets placed on mobile devices |
Bookmaker software is an essential tool for companies looking to enter the lucrative sports betting industry. The software helps bookmakers set odds, manage bets, and track revenue. Sports betting has become increasingly popular online, with 70% of revenue being generated through online channels. The global sports betting market is expected to reach $155 billion by 2024. The vast majority of sports bets, 88%, are placed on mobile devices. Bookmaker software development plays a critical role in the industry’s ability to provide a seamless and secure experience for bettors and manage the high volume of transactions.
Esports betting software
| Number of global Esports viewers in 2020 | 495 million | Newzoo |
| Global Esports market size in 2022 | $1.79 billion | Statista |
| Percent of Esports enthusiasts who bet on Esports matches | 41% | Esports Insider |
Esports betting software is a type of sports betting software that is specifically designed to facilitate bets on Esports matches. In 2020, there were 495 million global Esports viewers and the Esports market is predicted to reach $1.79 billion in 2022. Esports enthusiasts are also active bettors, with 41% of them placing bets on Esports matches. Esports betting software is highly in demand due to the increasing popularity and growth potential of the Esports industry.
Horse racing betting software
| Market Size | $87.7 billion (2020) | [1] |
| CAGR | 10.4% (2021-2028) | [2] |
| Top Market Players | Scientific Games, BetConstruct, Playtech | [3] |
Horse racing betting software development is a part of sports betting software development which deals specifically with the horse racing niche. Sports betting software development is a rapidly growing industry, worth $87.7 billion in 2020 with a projected CAGR of 10.4% from 2021-2028. The top market players in sports betting software development include Scientific Games, BetConstruct, and Playtech. Horse racing betting software is a specialized segment within this industry that provides solutions for digital horse racing wagering. The market for horse racing betting software is expected to grow as the popularity of horse racing continues to rise.
References: [1] Grand View Research, [2] Fortune Business Insights, [3] GlobeNewswire.
Greyhound racing software
| Statistic | Value | Reference |
|---|---|---|
| Global sports betting market size | $85 billion (2019) | Zion Market Research |
| Expected CAGR of sports betting market | 9.9% (2019-2025) | Zion Market Research |
| Market share of greyhound racing betting | 2.6% | Statista |
Greyhound racing software development refers to creating software that enables betting on greyhound racing events. The global sports betting market was valued at $85 billion in 2019 and is expected to grow at a CAGR of 9.9% from 2019 to 2025. Greyhound racing betting holds a market share of 2.6% in the global sports betting market. This indicates that there is potential for growth and profitability in greyhound racing software development.
Sports data feed providers
| Statistic | Reference |
|---|---|
| Global sports betting market size in 2021 | Statista |
| Expected CAGR for sports betting software market from 2021-2028 | Market Research Future |
| Percentage of sports bets placed online | Statista |
| Revenue generated by leading sports betting software providers in 2020 | Transparency Market Research |
Sports data feed providers play a crucial role in sports betting software development. Sports betting has become a multi-billion dollar industry, with the global market worth approximately $155 billion in 2021. The market is expected to grow at a CAGR of 8.8% from 2021 to 2028. The majority of sports bets are placed online, with around 80% of bets placed through mobile devices. To provide accurate and up-to-date information to bettors, sports betting software relies heavily on sports data feed providers. In 2020, the leading sports betting software providers generated billions of dollars in revenue.
Odds comparison websites
| Number of sports betting websites worldwide | Over 1,000 |
| Global sports betting market size | USD 203.05 billion in 2020 |
| Projected sports betting market size by 2028 | USD 314.4 billion |
Odds comparison websites are a form of sports betting software development that allows users to compare the odds offered by different bookmakers. With over 1,000 sports betting websites worldwide, the global sports betting market was valued at USD 203.05 billion in 2020 and is projected to reach USD 314.4 billion by 2028. Odds comparison websites provide bettors with valuable information to help them make informed bets. These websites are a useful tool for those looking to optimize their sports betting experience and maximize their chances of winning.
Line management software
Line management software is a vital component of sports betting software development. This software allows bookmakers to manage their lines, reduce risk, and increase profits. With an estimated market size of $7.6 billion in 2020, the sports betting industry is rapidly growing and evolving. Investing in top-notch line management software is a strategic move in the highly competitive market. According to a report by Zion Market Research, the global sports betting market is expected to reach $155.4 billion by 2024, with an impressive CAGR of 8.83%. By implementing advanced line management software, bookmakers can stay ahead of the curve and continue to provide high-quality services to their customers.
Social media tracking and analytics tools
| Year | Market Size (in billion USD) | Growth rate |
| 2018 | 3.53 | 12.9% |
| 2019 | 3.86 | 9.3% |
| 2020 | 4.04 | 4.7% |
| 2021 | 4.15 | 2.7% |
Sports betting software development refers to the creation of software and applications that help users place bets on sports events. These tools provide various features including live updates, odds comparison, and analysis of past performance. Social media tracking and analytics tools are crucial in the development of sports betting software as they allow companies to track user sentiment towards particular teams or athletes and adjust their offerings accordingly. According to market research, the sports betting software market has been growing steadily over the past few years with a market size of 4.15 billion USD in 2021.
Responsible gambling tools
| Statistic | Reference |
|---|---|
| The global online gambling market is expected to reach $127.3 billion by 2027. | ResearchAndMarkets.com |
| 1 in 5 adults in the US gambles online. | National Council on Problem Gambling |
| Responsible gambling tools can reduce problem gambling behaviors by up to 75%. | Georgetown Law |
Sports betting software development involves creating platforms for users to bet on various sports events. The global online gambling market is expected to reach $127.3 billion by 2027, with 1 in 5 adults in the US gambling online. It is important to balance the excitement of online sports betting with responsible gambling practices. Responsible gambling tools, such as limit-setting and self-exclusion features, can reduce problem gambling behaviors by up to 75%. As responsible gambling becomes a bigger concern, incorporating these tools into sports betting software development will become increasingly crucial.
Fraud prevention software
| 80% | of online sports bettors use mobile devices to place their bets. |
| 90% | of sports betting software developers prioritize security measures in their platforms. |
| 100% | of top sportsbook software providers offer live betting options. |
Fraud prevention software plays a crucial role in sports betting software development. As online sportsbooks continue to grow in popularity, the risk of fraudulent activity increases. Advanced security measures, including fraud prevention software, are necessary to ensure the reliability and integrity of online betting platforms. Developers of sports betting software are aware of this problem and prioritize security features. Mobile betting is on the rise, with 80% of online bettors using their mobile devices to place bets. In addition, 100% of top sportsbook software providers offer live betting options. These statistics emphasize the importance of sports betting software development and the need for reliable and secure platforms.