The market size of the sports betting and lottery sector worldwide from 2011 to 2019, with a forecast for 2020 and 2021 (in billion U.S. dollars).
The world of sport’s betting has been increasingly growing and while it has been around through several civilizations, it’s become the most accessible and easy to understand with the development of sport betting apps like William Hill Betting. But what is it that makes one app more successful than the others? Here’s a list of things to keep in mind if you plan to create your own sports betting app that will be successful.
Sports betting apps are a great resource if you’re a sports fan. They are constantly updated with not only the latest news about teams and what goes on behind the scenes but also have live tracking for scores and any wins & losses for the teams you are interested in. This helps make these apps super relevant for sports lovers and they do not have to rely on other news & information sources for their updates. The app has sufficient information for the users to consume and base their bets on.
The algorithms of these mobile betting apps are such that they automatically streamline a list of potential players and/or teams for the user to bet on. Based on the final selections, this feature then calculates the total amount of the pot to be paid immediately without the need for an agent or any human interference. Since it’s AI-enabled, it’s a service that one can avail of 24x7 at their own convenience.
The convenience and portability of all mobile apps also apply here. One can view, track and place their bets from any part of the world. You don’t need access to the actual sporting events to be able to view and place bets which means that even people who do not have access to the actual sporting events can participate via betting. For example, someone sitting in India can bet on racehorses in England with ease.
The market size of mobile wallet transactions in various regions worldwide in 2020 with forecasts from 2021 to 2025 (in million U.S. dollars)
Like every transaction on a mobile app, the payments on a betting app also need to be seamless & smooth. The best way to do so is by ensuring the latest & most secure technology is available as a mode of payment and checkout for your app. Whenever the checkout & payment process becomes tedious, the user may have a tendency to not complete the transaction. To avoid this, ensure a minimal and easy-to-understand procedure of payments for the bets placed.
The best feature of any gamified app is how quickly and how often does it give positive reinforcements to its users. In the context of the sports betting apps, this positive reinforcement can be in the form of points earned, rankings and the money that they win by placing the bets. The more rewarded a user feels the more are they likely to engage more and place more bets within the app.
A mobile app is not restricted by geographical boundaries or time bounds. This makes it possible for fans of any sport or team to be involved in the game via your app from across borders! This in turn also means they can even bet on their favorite team or players at any time. Without the restriction of time or location, a mobile betting app can take advantage of an audience that’s much larger than their local target users.
Developing a successful sports betting app would require the right end-to-end mobile app development solution like the kind Valere provides. You can even get an estimate of the kind of budget you might need with our App Development Cost Calculator to get started on your app now.