On-Demand Betting Apps and Software Development – Market, Trends & Opportunities

Hardik Thakker

Published On: October 19, 2023

In the ever-evolving digital technology landscape, few industries have experienced a meteoric rise in the world of sports betting apps. As the thrill of sports meets the convenience of smartphones, these sports betting apps and software have emerged as game-changers, altering the way enthusiasts engage with their favourite pastimes.

The intense craze for online betting has fueled the need for top betting app development companies that can design and deliver productive betting apps and software while staying cost-effective. Welcome to the exciting world of sports betting apps and software development, where the possibilities are as limitless as the boundaries of human competition.

In this informative blog, we will discuss betting apps, what they are, what is the market for betting apps, what are the betting app trends in 2024, and how a sports betting app development company can help you own the best sports betting software. First of all, let’s start with an introduction to sports betting apps/software.

What is a Sports Betting App or Software?

A sports betting app or software is a digital platform designed to facilitate and streamline the process of placing bets on various sporting events, including but not limited to football, basketball, soccer, horse racing, and more. These sports betting applications provide users with a convenient and user-friendly interface to browse odds, choose bets, and manage their wagering activities from the comfort of their smartphones or computers.

Sports betting software/apps offer real-time data updates, secure payment integration, and various features to enhance the user experience. Whether for recreational enjoyment or serious gambling, these betting apps have become an integral part of the modern sports enthusiast’s toolkit, offering an immersive and engaging way to participate in the excitement of live events while potentially reaping the rewards based on their predictions.

The global sports betting market has witnessed a monumental shift in recent years, transforming from a niche hobby into a billion-dollar industry. With an ever-growing number of sports fans eager to test their knowledge and instincts, the need for professional sports betting app development services has increased to explore the potential of this burgeoning sector.

What is the Market for On-demand Betting App Development?

The market for on-demand betting apps is largely increasing. The global sports betting market is projected to grow from $96.84 billion in 2022 to $104.78 billion in 2023, with a compound annual growth rate (CAGR) of 8.2%.

Only in the United States, the sports betting apps and software market has brought in $7.4 billion in revenue in 2022, a 71% increase from the previous year. In the UK, sports betting apps generated £2.36 billion in revenue in 2022, and it’s breaking all the barriers. To summarize, the market size of global sports betting is expected to grow above 134 billion by 2027, and that’s massive.

If you are planning to capitalize on the lucrative business opportunity of the rising market of online betting, then get in touch with a sports betting software development company today. The global popularity of sports betting, combined with the convenience and accessibility offered by mobile apps, ensures a persistent and growing market.

Sports enthusiasts continually seek engaging ways to participate in the excitement of live events and test their sports knowledge. The demand for real-time updates, live betting options, and the integration of emerging technologies all contribute to the ongoing relevance of sports betting apps in meeting these user expectations.

What Are the Reasons Behind the Demand/Popularities of Sports Betting App?

In today’s digital world, sports betting has witnessed a popularity surge for many reasons. The widespread adoption of smartphones and the easy availability of the Internet are the top reasons for the popularity of sports betting apps and software. The thirst for sports betting apps has skyrocketed, granting users effortless accessibility to their cherished sports events and betting possibilities wherever and whenever they desire.

Below are a few more reasons for the popularity of on-demand sports betting apps and software, and they are:

1. Convenience: Sports betting apps offer a convenient way for users to place bets from their smartphones or computers, eliminating the need to visit physical betting locations. This convenience is highly appealing to both casual and serious bettors.
2. Accessibility: Sports betting mobile apps provide easy access to sports betting, enabling users to place bets anytime and from anywhere with an internet connection. This accessibility caters to the on-the-go lifestyle of modern consumers.
3. Real-time Information: Sports betting platforms offer real-time data, including live scores, odds, and in-play wagering options. Users can stay updated on events and make informed betting decisions as games unfold.
4. Variety of Sports: Betting apps often cover a wide range of sports and events, catering to diverse interests. Users can bet on popular sports like football, basketball, and soccer, as well as niche events like eSports or horse racing.
5. Promotions and Bonuses: Many sports betting apps provide promotions, bonuses, and loyalty programs to attract and retain users. These incentives encourage user engagement and contribute to the demand.
6. Live Betting: The ability to place bets while a game or event is in progress, known as live betting or in-play wagering, has gained popularity. Sports betting software and apps often offer these features, enhancing their appeal.
7. Emerging Technologies: Sports betting apps integrate emerging technologies such as blockchain for secure transactions, artificial intelligence for odds optimisation, and virtual reality for immersive experiences. These innovations enhance the overall user experience and drive demand.

The need for sports betting apps is continually growing due to their convenience, accessibility, real-time features, and the evolving betting landscape. As a result, sports betting apps remain in high demand among sports enthusiasts and bettors seeking engaging and secure ways to participate in the excitement of sports betting. Many sports betting app development companies like Albiorix have hands-on experience in creating on-demand betting platforms at affordable rates.

Sports Betting App Trends in 2024

In 2024, sports betting apps are set to embrace the below-listed trends to provide users with more exciting, personalised, and responsible betting experiences while keeping up with the ever-evolving technology landscape.

1. Cryptocurrency Integration: As the adoption of cryptocurrencies like Bitcoin and Ethereum continues to rise, sports betting apps are expected to integrate these digital currencies for transactions. This gives users enhanced privacy, security, and flexibility in betting activities.
2. Esports Betting on the Rise: Esports betting is set to gain even more prominence in 2024. Betting apps are likely to expand their offerings to include a broader range of esports events, appealing to the growing audience of competitive gaming enthusiasts.
3. Virtual Reality (VR) Betting Experiences: Virtual reality is poised to transform how users engage with sports betting. VR betting platforms may offer immersive experiences, allowing users to feel like they are in an actual sportsbook or stadium while placing their bets.
4. Artificial Intelligence for Personalization: Betting apps increasingly use AI to analyse user data and preferences, enabling them to offer personalised betting suggestions and promotions. This enhances the user experience and encourages more engagement.
5. Responsible Gambling Tools: With a focus on user well-being, sports betting apps will continue to improve accountable gambling features. This includes self-exclusion options, deposit limits, and educational resources to promote responsible betting practices.
6. Live Streaming and Betting Integration: Many sports betting apps offer live events streaming. In 2024, this feature may become more tightly integrated with in-play betting options, allowing users to watch and wager on games simultaneously.
7. Advanced Data Analytics: Data-driven insights will play a pivotal role in providing users with valuable information for their bets. Advanced data analytics and predictive modelling will help bettors make informed decisions.
8. Social Betting Communities: Sports betting apps may create social features enabling users to share their bets, tips, and experiences with fellow sports enthusiasts. This fosters a sense of camaraderie and engagement.
9. Regulatory Compliance: With the evolving landscape of gambling regulations, sports betting apps will continue to adapt and ensure full compliance with local and international laws. This will enhance the trustworthiness of these platforms.
10. Cross-Platform Accessibility: Betting apps will strive to offer a consistent and seamless experience across various devices, including smartphones, tablets, and desktops, allowing users to switch between platforms effortlessly.

Role of a Sports Betting App Development Company

The role of a sports betting software development company is pivotal in the creation, launch, and ongoing success of sports betting applications. A sports betting app development company acts as a comprehensive partner in the entire app development lifecycle. From concept to deployment, they provide expertise in design, development, legal compliance, and ongoing support, ensuring the success of sports betting apps in a competitive and regulated industry.

These companies play several critical roles:

1. Conceptualisation and Planning: Sports betting app development companies work with clients to conceptualise the app’s core idea, defining its target audience, features, and overall strategy. They help plan the project, set objectives, and map out a development roadmap. Let’s discuss the scope of your betting app over a free consultation call. Contact us.
2. Market Research: They conduct extensive market research to identify trends, competition, and regulatory requirements. This data informs the development process and ensures that the app is aligned with market demands.
3. Legal and Regulatory Compliance: Developing a sports betting app necessitates a deep understanding of complex legal and regulatory frameworks. App development companies ensure that the app adheres to these regulations, obtains the necessary licenses, and operates within the law.
4. Platform Selection: They guide clients in choosing the right platform for their app, considering factors such as iOS, Android, or cross-platform development. The choice impacts the app’s accessibility and reach.
5. User Experience (UX) and User Interface (UI) Design: App development companies create a visually appealing and user-friendly design for the app, focusing on providing an intuitive and engaging experience for users.
6. Mobile App/Software Development: They handle the technical aspects of app or software development, including coding, database management, payment integration, and real-time data updates. The development process ensures the app’s functionality, security, and scalability. You can hire full-stack developers to build a betting app as per your business ideas and trends.
7. Quality Assurance: App development companies conduct rigorous testing to identify and resolve bugs, glitches, and performance issues. This ensures the app’s reliability and user satisfaction.
8. Deployment and Launch: They assist in launching the app on various app stores and platforms, ensuring that it complies with the respective guidelines and standards.
9. Ongoing Maintenance and Updates: After the app is live, these companies continue to provide maintenance and support services, addressing issues, releasing updates, and ensuring the app remains up-to-date and secure.
10. Marketing and Promotion: Many app development companies also offer marketing and promotional services to help clients increase the app’s visibility and attract users. This includes strategies like social media marketing, partnerships, and advertising.

Sports Betting App/Software Development On Your Mind? Get a Free Quote Today

If you’re seeking excellence in sports betting apps and software development, look no further than Albiorix. With our experienced team of developers, in-depth market knowledge, and a commitment to innovation, we’re ready to transform your vision into a dynamic and engaging sports betting app.

Moreover, we also have prior experience in creating white-label betting apps for our clients coming from different parts of the world. Get in touch with us to learn more about our already-developed apps and software.

Contact Albiorix today to explore the endless possibilities and create a winning app that stands out in this competitive industry. Your success is our goal, and we’re here to make it happen. You can also share your requirements with us over LinkedIn and Facebook.