Betting software development company, types of bets and more

The betting software development company

A sports betting software development company has to be aware of everything that happens around this successful business. Especially when every day there are more and more players, ways to play, new sports, new games, and so on.

Just by listing the features that a betting software company has to guarantee, it would fill pages and pages of valuable information, but it will not be necessary, since we can summarize it a bit in those that are essential.

But first, let’s see what types of bets can be made thanks to a betting software company.

Non-sports bets

Here comes everything that is illegal and what is not, such as clandestine animal fights, just to give an example of illegal. But, some bet on challenges from people on the internet, the development of soap operas and the results of reality shows, and so on. However, it is very difficult to find a company that is dedicated to developing betting software of this type. The most famous and successful are:

Sports betting software development company

As the subtitle says, a betting software development company, in this case, sports, is the one that creates platforms to bet on sporting events. It doesn’t matter if it is football, hockey, racehorses, or chess, the point is to bet on them.

Now, as there are so many sports, leagues, events, athletes, and categories, many variants of placing bets have been created and this, in turn, has conditioned the software developers to have to include some features within their products. Let’s take a closer look at these two aspects.

Some features needed for good sports betting software

A betting software development company: Live predictions/pre-match

Here, the betting software company must guarantee the storage and compilation of extensively statistical data of each of the covered sporting events. With this information, very accurate mathematical forecasts can be made.

Multiple sports cutlery

If you want to have many clients, then you can’t limit yourself to just one sport, or league. A betting software development company has to guarantee the integration and selection of the largest number and variety of sports, events, and leagues. Regardless, of course, each client filters the sports they want to watch.

Administration panel detailed

A betting software development company always ensures that the administration panel is well detailed. However, some are more so than others. Look for the one that is most comfortable or intuitive for you to better manage your accounts and sportsbooks.

Availability of multiple payment gateways

It must be able to integrate the largest number of payment methods. Some like debit and credit cards work almost everywhere in the world. These are must-haves. Then you must prioritize PayPal and local payment methods.

Multiple types of bets supported

This is one of the essential features in any betting software development company. As we said at the beginning, the ways of betting have diversified considerably, and you cannot ignore them when considering creating a sportsbook. Let’s look at some of these types.

Software development companies and their different types of bets

For the number of bets

The betting software development company must think about the number of bets. When thinking about the number of bets, the most common thing is to differentiate between simple bets or combined bets, also known as multiple bets, although in the latter we find several types of bets depending on the selections we make and the number of bets.

On the other hand, there are custom bets, an option that is increasingly popular as it allows you to combine events from the same match.

A betting software development company with simple bets

They are the most basic type of bet and that is not missing in any betting software from any company. This variant consists of the player making a selection and betting their money on it. If you have guessed the bet correctly, you will collect; if you failed, you lose the money.

They are the best way to start in the world of betting, and you don’t have to limit yourself to a simple 1X2. You can make simple bets on any market, and there are even simple bets that include two variables, such as “team 1 wins and +2.5 goals”, “both score and do not draw”, etc.

Combined or multiple bets

It’s about the bets including two or more selections. The fee of the different selections included is multiplied, so that the prize for hitting it is better than if we bet on each market separately; but it is clear that the more selections that are included, the easier it will be for one to fail, and we lose the combined bet.

The key is to find the balance between risk and profit. Normally, the betting software development company includes selections from different events.

A betting software development company with custom bets

We say custom because the latest big news of the betting world is the option that the player chooses a selection series about one party, designing his own bet. However, it isn’t available in all betting software development companies, nor is it available in all sportsbooks, but sooner or later most of those that do not offer it will end up incorporating it into their betting offer.

For balance used

When we bet, we do it with money. Although, as you know, we have to differentiate between the money you deposited in the bookmaker, your winnings, the freebets, or bonus money, that we obtain through the different promotions that they offer us. Betting with one type of balance or another has its consequences. The betting software development company has to differentiate it well.

A betting software development company: betting with the actual balance

The vast majority of bets that are made are with a real balance so that if it is a winner, we take the winnings and the amount bet. These are the bets that compute when participating in promotions or releasing the bonus, provided that other requirements are met.

With bonus money

A betting software development company has to make it possible to bet with the real balance, true, but also with the bonus. Either because you are using the welcome bonus or because you have obtained freebets, they are free bets, in which we do not play with a real balance but with a bonus balance.

Unlike bets with real balance, when playing with bonus money we get only net winnings (betting a freebet of 1.00 at odds 2.0 we get 1.00). These bets are excluded from promotions and neither they compute for rollover.

Betting software development company: betting by sport

As we discussed earlier, a betting software development company must guarantee a wide variety of sports such as football, tennis, basketball, handball, cycling, motor sports, winter sports, darts, rugby, volleyball, table tennis, etc. chess, and so on.

Any sport is likely to appear in bookmakers, so we can also classify our bets according to the type of sport.