There are various sports betting platform options available to businesses looking to establish a new iGaming brand and it is important to understand the differences.
Several factors need to be considered when choosing the right one for your needs, and getting it right is vital to allow your brand to get up and running efficiently with a view to future growth.
The best sports betting platform providers can talk you through the different solutions but here is a guide to the main features of white label, turnkey and API solutions.
WHITE LABEL SPORTS BETTING PLATFORM
If you feel the need for speed when setting up a sports betting brand then a white label sportsbook could be the answer. Making use of the provider’s licence to operate in your chosen territory, this is the quickest way to get up and running.
Much of the development and legal work involved in starting a new business is avoided with licensing and payment requirements taken care of by the provider, leaving the customer free to focus on marketing the new brand.
For start-up operators, that can be a big deal. With gambling regulations around the world frequently changing and more markets opening up, it is important for sports betting operators to know they are playing by the rules.
Choosing a white label solution means that set-up costs are significantly reduced but you also need to future-proof your brand. Finding a white label sportsbook provider that offers a full range of solutions can mean the chance to take parts of your operation in house at a later date without changing technology provider.
The best white label sportsbook providers will help to maximise your profits through trading and risk management teams who should provide support around the clock.
Be sure to check out what customisable features are included in a white-label platform too. Page layout and design plus a variety of promotional tools can help differentiate your brand from competitors and even allow for the launch of multiple brands if required.
TURNKEY SPORTSBOOK
Operators with their own licence can also launch a brand quickly and efficiently using a turnkey sportsbook solution, while help in guiding you through the licensing process can be provided if that is the preferred option.
As the name suggests, turnkey refers to a product that is ready for immediate use which cuts down on development time and product testing. The best providers will offer a product which contains a vast array of customisation options, allowing customers to focus their energy on ensuring the design is perfect for their targeted audience.
A turnkey sportsbook solution will give you total control over your sports betting website without the need to recruit and train the people who can make it happen, with the software provided allowing you to select the languages and currencies used on the site as well as the design of menus, blogs, banners and much more.
Payment systems are also included and allow for players to deposit funds in a number of different ways, from the traditional method of bank and credit cards through to increasingly popular crypto payments.
The front end of the site should also be customisable, with clients able to change page layouts using intuitive software. Choose which sports, events and markets are likely to produce the most revenue and that can be reflected in the design of the site. Whether your focus is on live events, the biggest global tournaments, local competitions or even virtual sports, the choice is yours.
Turnkey sportsbook solution providers will also partner with gaming brands to allow for the best casino games to be seamlessly integrated into your site. Using the best providers will mean the choice of thousands of games to feature on your site.
The back end of a casino website site is important too, with much to consider when choosing turnkey sportsbook software. Player account management and reporting tools allow for in-depth analysis of player behaviour as well as responsible gaming controls.
API SPORTSBOOK
A sports betting API is an interface that provides all the data and functionality needed to allow bookmakers to develop their own applications, regardless of whether that is a product for desktop, mobile or land-based retail operations.
The API provides real-time data on sports events and betting odds, making it the heart of any sports betting operation, and there is plenty to consider when choosing the right provider. Players expect to be able to bet on all major sports while esports betting has grown in popularity in recent years.
The quality of the data is vital. Using premium odds providers who are official rights holders ensures speed and accuracy and allows bookmakers to operate in highly regulated and competitive markets, where slow or inaccurate data could lead to lower profit margins and increased player abuse.
Customisable and flexible features should also be part of the API, with the option to stream live events and offer instant markets as well as a wide range of betting and bonus options such as player specials, early payout and bet builders. That gives the bookmaker the tools to attract and retain customers as well as enhancing the sports betting experience.
Bookmakers also need the option to adapt their offering to their target audience and further features such as a ‘light’ sportsbook can be used in geographical areas where download speeds are limited.
The API can also offer plenty of customisable solutions in terms of front end, content, odds and limits. It should feature a built-in promotional tool suite and a fully comprehensive bonus engine to ensure players get all the rewards and options expected from a premium sportsbook.
SUMMARY
Finding the best sports betting platform for your business depends on many different factors but whether you are a new business looking to get started in the industry or an established operator considering switching providers, Altenar has the product for you.
Get in touch to discuss your requirements with our team of experts and learn how Altenar can give your brand the platform to shine.
