When you are considering a new sportsbook software you already know that some features are important. Below, we will discuss all of the features a software of this type must-have. The outcome will be obvious. You get more players to work with, more bets to process, and more profit. Yes, these features will have an amazing effect on your profit margins.
User friendly interface
Your sportsbook software must be easy to use in all sections. Being able to place a bet on the right sport, within seconds is what a bettor needs so you must give him that. Offering decimal or fractional odds, views, and all the rest options must be universal to offer players an ideal user experience.
Complete coverage of all desirable sport events
Bettors seek two things. They need plenty of sports to place a bet on and they want events and sports that are specific for a particular region. You need to offer them this and you also need to include live event coverage. Pre-match events are mandatory as well. By doing this, your sportsbook will have all the right ingredients players seek and they can remain present there for longer. More sports and more related events are essential.
More sports than a player needs
A sportsbook software must include all the sport types there are. This is obviously a very important thing to offer to bettors. They will want to check more sports, to see some rare and interesting ones and they will have a better time on the site. More is merrier, once again. But, keep in mind that players from specific countries prefer different sports. Here are a few examples.
- China: Badminton, archery, and table tennis
- Australia: Cycling, horse racing, Aussie rules
- United Kingdom: Darts, horse racing, rugby, snooker, golf, and greyhounds
- South Korea: Baseball, archery, and taekwondo
- Africa: Rallying, cycling, rugby, and athletics
Smart strategy for risk management
Yes, sportsbook software also needs to include a risk management strategy. You need to use the KYC feature in order to get all the needed information about all the players at the site. You also need to track betting history, activities and monitor all of these.
The analysis is the next step. All events and all the connections between a bettor and the brand need to be analyzed (per player and per match) and risk specifics should be formed. Last but not least important is the fact you must use systems for detecting fraud. These have a huge impact on risk management and they can be seen as an important part of the strategy.
Ability to use the software via any device
Here we have one, obvious feature. Bettors use all kinds of devices such as computers, laptops, smartphones, and more. You need to be able to accept the bets via any of these devices. Most bettors use a computer and a smartphone so you can see why this is important. They need the ability to place a bet when they like and almost instantly.
Odds data must be accurate
All the odds offered by the sportsbook must be accurate 100%. This can make a difference between profit and loss. Also, the bookmaker must charge the fixed amount for bets. This will help you make a higher profit and one that is stable and also always present.
The next thing which is related is the ability to have statistics and additional data for the bettors. They need this in order to have a better experience and also to feel more professional in what they do.
All popular payment methods
A sportsbook software must allow players to use different payment options. There are many of them available these days. More is something you need to aim for. Instead of talking about each one, we will present to you the main categories to add.
- Debit and credit cards
- Bank wire transfer
- Prepaid cards
As many backoffice tools as possible
These tools cannot be explained in detail simply because there are many of them, too many. All we can say is that you need different options. For example, you need a tool that will offer the right margins. Another tool that will limit the withdrawals and also deposits. Statistic tools are mandatory as well, due to obvious importance.
Offers advanced betting options
Sportsbook software must come with counter offers, super bets, and the ability for a bettor to edit the bet. In essence, these are advanced betting options that make betting more sophisticated and more versatile. The time when players had to use one type of bet only is long gone.
Provide current and historical statistics for each sport
Yes, players need statistics in order to be able to place a more suitable and accurate bet. They are also more confident when this option is present and they will want to place more bets than usual. This translates into your profit and better satisfaction f bettors.
Once all of these features are present in sportsbook software, you have an excellent base for making a massive profit. You still need effort and plenty of time to invest, but with these options, your risk of failing is much lower. On the other hand, having an extremely successful business is far more probable.