How Much Does it Cost to Build a Sports Betting App Like Sportsbet in Australia?

Are you interested in sports gambling applications like Sportsbet in Australia? The rise of sports betting apps is currently on the rise, so it’s the perfect time for you to create one.

Reports by Vantage Market Research suggest that the global sports betting market is estimated to reach $167.50 Billion by 2030 at a CAGR of 9.50%.

In fact, the sports betting apps are recording a revenue of $7.4 Billion in 2022 in the U.S. alone. This amounted to 20% of global online sports betting revenues, which is a 71% increase from the previous year.

If you are looking to create a new sports betting app of your own, this is the right time. This guide will provide you with the information that could help you understand this concept better.

What is a sports betting app?

A sports betting app is a mobile game application centred around sports. This game app is designed to allow users to bet on sports events and generate money through it.

One of the most popular one these days is Sportsbet, an Australia-based betting platform.

The users can wager money from these kinds of applications by betting on sports matches, including soccer, tennis, baseball, football, and more.

These sports game apps are generally compatible with smartphones and tablets for the convenience of users.

However, these apps aren’t limited to just betting on matches alone, they can also provide distinct engaging features for users, such as other live sports events or tournaments on the app.

What is Sportsbet?

Sportsbet is an Australia-based sports betting app or in simple words a gambling application, leading the online betting platform industry with amazing statistics.

As stated by AWS, the app can support 35,000 bets simultaneously. The application has a strong infrastructure to support 300 million users annually.

The platform has increased the app’s performance by 30% and enhanced the feature development by 60%. The CFO of Sportsbet told AWS “We’ve proven that we can actually scale to 50,000 bettings per minute if we need to. There’s no way we would have been able to do that without being on AWS.”

This application has changed the betting experience for users entirely. The user-friendly interface and easy-to-navigate mobile app experience add to its popularity.

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Important Statistics for Sports Betting Apps

Gambling applications and sports betting apps are becoming more popular as the sports betting industry grows worldwide. With the rise of mobile apps and digital tech in sports, more people globally are getting into sports betting.

Here are some important stats that you should know about if you’re considering developing a Sports betting app:

» Americans placed $23 billion in sports bets, a 32.7% increase from the previous year. It’s predicted that the market could reach $100 billion.

» In 2022, sports betting apps in the U.S. brought in $7.4 billion, while in the UK, they generated £2.36 billion, as stated by Business of Apps.

» By 2029, the number of online sports bettors is expected to reach 180.8 million users with an average global revenue per user of $330 (Source: Statista).

Types of Sports Betting Apps Like Sportsbet

Here are some of the most common types of sports betting apps in the mobile gaming app industry:

1. Traditional Sports Betting Apps

These apps let you bet on popular sports like football, basketball, and soccer. You can place various bets, such as predicting game winners, point spreads, or total scores.

They usually show pre-game odds and betting options in a user-friendly way.

2. Daily Fantasy Sports (DFS) Betting Apps

DFS combines two major elements; fantasy sports and betting. In this app you can create a fantasy team based on real players, and bet on how well your team performs.

You can even join leagues and contests in fantasy game apps to win money based on your team's results. FanDeul is a great fantasy application making huge revenues.

3. Betting Exchange Apps

Betting exchange apps let you bet against other users instead of a bookmaker. You set your own bets or accept others' bets.

This is basically a user vs user system that offers better bets and increases players’ excitement.

4. Prop Betting Apps

Prop betting apps allow you to bet on specific events during a game, like a player’s performance and such.

This is an ideal option for those who like more creative betting options other than the common game outcomes.

5. Betting Aggregator Sports Betting Apps

These apps collect bets from multiple bookmakers in one place so you can compare and find the best value.

This offers a simple betting process and helps you increase the chances of your winnings.

6. Live Sports Betting Apps

Here you can bet on games in real time as they’re happening. They provide live updates, scores, and more, giving you the chance to make bets based on how the game is going.

7. Esports Betting Apps

This is a simple app that will allow you to bet on esports tournaments for games like League of Legends, Dota 2, and Counter-Strike.

They also run live streams of matches and game stats for users to make their betting experience much better.

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How Much Does it Cost to Develop a Sports Betting App like Sportsbet?

The cost of developing an app like Sportsbet sports betting app may vary depending on various factors. However, generally, it can be estimated between $20,000-$50,000.

The cost of app development varies depending on factors, such as the game’s features, its betting model, integrations from third-party services, and more.

You may consult a game app development company to get a more accurate pricing model or estimate.

What Factors Affect the Cost of Developing Sports betting apps like Sportsbet?

The cost to develop a betting app like Sportsbet can vary driven by several key factors that heavily influence the investment. Here are some of them mentioned below:

1. Features of the Application

The features you decide for your app to have will affect the cost of development majorly. The more advanced features you have the more it will cost.

2. Tech-stack

The technology used to build the app (like coding languages, frameworks, and tools) will also impact the cost. Advanced tech stacks might be more expensive but they also offer efficient performance.

3. Platform

The platforms you’re deciding to develop your app for matter as well. You can develop the same app for Android, iOS, or both. Development costs for multiple platforms are higher.

4. UI/UX Designs

Despite creating a simple user-friendly interface for users’ convenience. It might still make up for the cost with all the additional custom layouts and animations.

5. Backend

The backend (which handles data processing, user accounts, and transactions) must be solid and secure, especially for betting apps, and the complexity here affects the cost.

6. Third-party Involvement

Integrating third-party services, such as payment gateways, data providers, or APIs, can add to the cost.

7. Safety Measures

Strong security features like encryption, fraud detection, and safe transactions are critical for betting apps. The more security measures needed, the higher the cost.

8. Testing

Testing the app for bugs and performance issues is necessary before launch. More thorough testing will take time and add to the cost.

9. Upgrading and Maintenance

Regular updates and maintenance are important for the app to run smoothly. These future costs should also be factored in.

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A step-by-step guide to Developing a Sports Betting App like Sportsbet

If you wish to develop a new sports betting app, the whole process requires thorough research and vigorous planning from start to finish.

The Sportsbet-like mobile app development procedure will require concept, design, development plans, and marketing strategies from you.

We have also described the breakdown of the fantasy mobile app development process before, so here we have a step-by-step guide for sports betting apps as well:

Step 1. Decide the Concept

Sports betting is a vast gaming sub-genre. There is a lot you could offer to your target audience that is distinct and unique, which is why you should do thorough market research to decide on your offerings.

Another point you may decide upon is whether you want your new sports betting app to cover one single sport specific to one genre or multiple sports.

Allowing users to simultaneously bet on multiple sports may pique their highest interest. That’s why I study and analyze the market trends before deciding on the concept.

Step 2. Outsource or Hire a Development Team

You might need to either hire a fresh development team or outsource a game app development company to take charge of multiple technical factors.

This game development will require not only research and planning but also technical mergers such as API integration and other technology stacks.

Only a known software development company will be able to provide you with a team of experts handling this project for you. Especially, the developers qualified to create a sports betting app like Sportsbet.

Step 3. Choose the Key Features

This isn’t just a gambling application that only allows users to bet on sports events but also provides them with unique features to keep engaging with games online for hours.

You can have unique features to enjoy online sports events, but it all depends upon the type of application, your app’s betting model, and platforms.

Hence, while choosing the features, consider the factors affecting the build of your app. However, you can always integrate more technologies based on the choice of features you want.

Step 4. Technology Stack for your Sports Betting App

You will need a certain tech stack for your new sports betting app development if you wish for an app like Sportsbet.

There are technologies, tools, and frameworks that will allow your app to integrate the preferable features and functionalities that you want.

In addition to features, you will also require an efficient tech stack to integrate APIs and other third-party services (for payment gateways, etc.).

These additions are required for the smooth sailing of premium services and other distinct features.

Here are some of the technology stacks you could use for your game app development:

Front-end Tech

» JavaScript

» React Native

» Flutter

Back-end Tech

» Node.js

» Python

» SQL

Integrations

» Payment gateway

» Third-party Sports data providers

Step 5: Developing, Testing, and Launching

After deciding on the concept of your game, and its features, gathering a development team, and technology stacks, you will be proceeding with the development process.

Once the development is done, your new app will go through a rigorous testing phase, where you will identify any errors that need to be sorted out before the launch.

After handling any occurrence of errors during the testing, your betting app like Sportsbet, will be ready for the launch.

You can hire a digital marketing company to handle the marketing and promotional aspects of your app launch if you want.

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Top 5 User-side Features

Here are the top 5 features for users that you should add to your sports betting application:

1. User Registration

Easy sign-up and login process for users.

2. Live Betting Information

Instant updates on bets, scores, and game stats.

3. Withdrawal Feature

Users can withdraw their money at any time. Sportsbet withdrawal feature was a game-changer in the industry.

4. Match Live Streaming

Watch live games directly in the app while betting.

5. History and Tracking

Users can view and track their past bets and winnings or losses.

Top 5 Admin Side Features

Here are the top 5 features for the admin side that could help you manage the applications effectively:

1. User Management

Control and monitor user accounts and activity.

2. CMS

Content Management System (CMS) easily updates and manages content like bets, offers, and promotions.

3. Risk Management

Monitor and minimize financial risks for the platform.

4. Financial Management

Track and manage transactions, payouts, and overall finances.

5. Compliance and Regulation

Ensure the app meets legal and regulatory requirements.

How long does Sportsbet take to withdraw?

Sportsbet withdrawal process can vary across different methods and withdrawal times. Here’s a breakdown of each commonly used method to withdraw money:

Bank Transfer

The withdrawal process for bank transfers works seven days a week. It may take you up to a few hours to receive payments if your bank accepts fast payments otherwise generally it may take 1-2 business days.

You can even submit withdrawal requests on public holidays. However, there may be some exceptions with delays sometimes.

Sportsbet Cash Card

There will be instant processing if the withdrawal is made from your account to your Sportsbet cash card.

The card balance would be updated immediately and then you may use those funds to either withdraw from an ATM or even pay for a transaction.

PayPal

Generally, following the third-party app, PayPal withdrawals may take up to one business day.

However, you are required to deposit the funds via PayPal initially to withdraw them.

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How to Monetize Sportsbet-like Sports betting Apps?

There are many ways to monetize your new sports betting app. However, it depends on specific factors like the type, model of betting, and your own business goals.

Some of the monetization strategies that you can adopt are mentioned below:

1. Commission Model

One of the easiest methods is to earn a commission on each winning bet placed by the users. It’s usually termed as “vig” or “juice” in the game setting.

The application will either collect a certain percentage of commission on winning bets or deduct a specified ‘charge’ from the total winning amount.

2. Subscription Model

This is one of the most common monetization models not only in the gaming app industry but in any application.

Sports betting apps usually introduce a subscription plan for their users to upgrade their accounts to acquire exclusive features and other benefits.

3. Third-party Advertisements

The in-app advertisements earn a huge chunk of money for Sportsbet-like betting apps. Third-party pay the game companies to display their ads to be displayed on users’ screens.

Many companies advertise sportsbooks, gambling applications, and other platforms via banner ads, short videos, and other formats that you can monetize.

4. Affiliate Marketing

You can earn through commission or referral fees if you take up affiliate marketing promotions from third parties such as software, applications, and other platforms.

Every user’s click on any redirection will earn you a fixed amount of money.

Conclusion

In conclusion, it would offer you a big business opportunity if you’re looking to develop a new sports betting app like Sportsbet to enter the gaming app industry.

By using advanced technologies and software, you can develop a platform for users to bet in an entirely systematic and different scenario. You can monetize this platform to earn huge revenues in various ways as well.

However, the research and planning that takes for the game development process can be draining. So, you can acquire assistance from Arramton Infotech, a leading Mobile App Development Company.

Our Services range from Web development to AI/ML. For more information contact us here.

Frequently Asked Questions

Q. Is Sportsbet a profitable gaming business?

Ans: Yes, sports betting gaming applications are on the rise in the current market situation. Sportsbet especially has gained extreme popularity in recent years. As an Australia-based app, it garnered a net profit of $369m in the financial year of 2021. Sportsbet withdrawal was the most unique feature of the game.

Q. Is Sportsbet a safe application for users?

Ans: Yes, Sportsbet monitors every transaction carefully and uses heavily guarded security encryption. It safeguards users’ privacy and transactional tracks to prevent any fraud and identity theft. The application commits itself to helping customers out every time and ensures their accounts are safe to operate.

Q. What kind of sports matches are popular to bet on in betting apps?

Ans: It is ideal for a sports betting app to offer various types of sports matches to bet on. The more there are options for the sports events the more users will be engaged in your betting game for a longer time. Some of the most popular betting games are baseball, basketball, soccer, tennis, and more.

Q. How much does it cost to develop an app like Sportsbet?

Ans: The cost of developing a new sports betting app can range between $20,000-$50,000 subject to other factors. The cost may vary and might be higher depending on the app’s features, the cost of hiring a development team or outsourcing a game development company, the technology stacks your game development process might need, and so on.