With over 600,000 events a year in the most popular sports out there, some of the world’s leading betting operators offer over a thousand options a day, each of them with countless markets. Choosing the right online sportsbook software is, therefore, a challenge.
You need to keep the profits high, but you also need excellent engagement and some scalability as your website grows. Odds are some of the main things to consider, since they affect both players and website managers.
Good odds can draw players in, but at the same time, they also determine the operator’s profits. With that said, let’s take a look at how to pick the best sportsbook software and explore different sportsbook software providers for a top-notch result.
Odds
Odds must be accurate to ensure players stick, but they also need to bring in some profits. Based on accuracy, your online sportsbook software can provide sustainable growth for your website and quite some good profits in the long run.
Accurate online bookie software must be able to simulate events in order to predict outcomes and adjust odds accordingly. Such odds must be given fast, but they also need to be accurate straight away. Sure, adjustments are also accepted based on unexpected news, such as injuries.
Markets
Different turnkey sports betting solutions offer different markets. Live betting is also a must, since more and more players opt for these offerings. You need the option to build bets and access to micro-bets. People simply want more engagement than ever.
For example, more and more people turn to quick and easy bets, rather than the classic moneyline bets. People like to choose whether or not a goal will be scored in the next 15 minutes, not to mention the next point winner.
Latency in Turnkey Sports Betting Solutions
Since so many people turn to live betting as they watch matches and can make better predictions, speed is essential. If your website lags or your turnkey sportsbook solution is slow, most people will simply switch to a different operator. It’s not hard to understand.
In terms of latency and lag, you need to offer the lowest possible bet delays, reduced suspension times, and almost instant confirmations of bets.
Some of the best turnkey sportsbook programs out there are powered by data taken from stadiums, which gives the operator a heads up. On the other hand, data sourced from TV footage will be delayed by around 10 seconds on average.
Not only does this affect players, but latency could also cut through your profits, especially if you have some experienced punters using your platform.
Extra Customization
While every turnkey software solution for sportsbook out there offers some sort of customization, more is better. However, this level of customization depends on your unique strategy, as well as customer trends in the area and regional requirements.
For example, if you run a platform in most European countries or South America, soccer is by far the most popular option. When it comes to the USA, the NFL is one of the leading options. Plus, the NBA is just as important, way ahead of the local soccer league.
You can also opt for a jack of all trades, meaning you can find a sports betting software solution that offers a bit of everything. While in theory it might work, the truth is it will limit your business growth and income. After all, most people prefer one or two sports and tend to ignore the others.
Extra Depth and Features
With an event going on at any random time, your customers will use the platform at different times of the day or night. Betting coverage should go on a 24/7 basis, including dodgy times in the middle of the night. People want to bet anytime, anywhere.
Some may prefer football in the USA, soccer in Europe, and virtual sports in Asia. You always need to offer coverage for as many events as possible, regardless of the sport. Extra features also include live streaming, as well as different widgets to add to the experience.
The bottom line is that choosing the right software provider can be tricky. But just like for any other type of business, you’ll need to ensure you assess your needs and potential customers before making a final decision.
