Sports betting has long been a hobby and even a source of income for many people. Unlike online casinos, which are banned in some countries and regions, sports betting is legal in most places. According to data from Statista, the global online sports betting market is 2023The annual valuation is approximately800USD, and expected to2028 span>year will grow to more than1200 billion US dollars, with an average annual growth rate of 7.4%. This growth is mainly driven by rising internet penetration, widespread use of smartphones, and legalization trends. For example, after the United States lifted its federal gambling ban in 2018 , more than 20 states have legalized sports betting. If you want to successfully open an online bookmaker, take a look at the following preparations.

Sportsbook operating principles

Sports betting platform can be simply understood as a place that allows players to bet on the outcome of events. These events can include sporting events, presidential elections, etc. Players can choose to bet on multiple possible outcomes of an event, each with different odds of winning. For example, in a game between Germany and Brazil, the probability of the German team winning might be 60%, the probability of Brazil winning is 30%, and the probability of a tie is 10%. Deduct the banker's profit (usually 10%< span style="color: black;">-20%), these probabilities will be expressed in the form of odds, such as< /span>1.67, 3.33and10. These odds are called early odds (morning line).

In order to provide accurate odds every day, bookmakers need to conduct a large amount of data analysis. Large bookmakers often employ professional analytics teams to do this job. Due to financial constraints, small and medium-sized gambling companies usually purchase hundreds or even thousands of lines from large gambling companies. ; font-family: 宋体;">'s package. The monthly cost of these packages usually ranges from 500 to < span style="color: black;">10000between US dollars.  

Obtaining a business license

For example, operating a sports betting business in Russia requires a license; licenses are issued to legal entities, and the threshold for entering the legal betting market is quite high; gaming companies must have< /span>5A bank guarantee of 100 million rubles and provide professional sports services every three months The federation pays at least 15001,500 rubles. Many new sportsbooks choose to use another company's brand for franchise and operating rights. This approach is not only legal and transparent, but also significantly reduces operating costs. Of course, the relevant policies and regulations for different countries and markets need to be implemented according to the situation. FollowPASAThe global wealth industry information platform provides the latest market information in each country Information on industrial policy.  

Software and staff

The cost of developing a platform software system from scratch is very high, so it is more cost-effective to purchase ready-made solutions that have been rigorously tested and market-proven and make custom changes. Convenient choice. For companies planning to acquire a franchise, the required software is usually provided by the licensor. If you plan to run your bookmaker entirely online, the fees will be significantly lower.

Integrated payment systems

Before a fully functional online sportsbook can open, a payment system must be integrated into the platform to ensure quick and easy deposits and withdrawals. Special attention should be paid to the most popular payment methods in the target region, including digital wallets, cryptocurrencies and direct bank transfers. At the same time, it is also crucial to choose a payment system with the lowest possible transaction fees.

Sports Betting Statistics and Odds

Sports betting companies typically obtain daily odds (lines). Most bookmakers choose to purchase these lines from reliable companies. Every day, many experts calculate odds based on in-depth analysis of sporting events.

In order to attract customers, newly opened gambling companies can reduce profit margins (such as reducing them to 10%) to provide higher odds and gain an advantage over the competition. Nowadays, betting on popular sports events such as football and basketball is very common. To stand out from the crowd of bookmakers, you need to offer novel betting options, such as Predicting Moscow7Will the monthly temperature exceed35°C, or the results of the turtle race in Madagascar, etc.

The reason why experienced gamblers have been making money betting for a long time is because they pay close attention to new sportsbooks and study them carefully lines, looking for loopholes and a lot of calculations to catch the high odds Chance. To avoid financial losses, new bookmakers should purchase lineslines from reputable and reliable suppliers -family: 宋体;">.

The editor recommends somelinesSolution head supplier:

Sportradar: This company provides comprehensive sports data and analysis services, covering multiple sports events around the world.

Betgenius：asGenius Sports Group< span style="color: black; font-family: 宋体;">Part of,BetgeniusFocus on providing accurate odds and data services.

SBTech：SBTechProvides a range of sports betting solutions, including high-quality odds and risk management services.

Kambi: This provider provides technology and services to online and land-based betting operators, covering a wide range of sports events and markets.

Pinnacle: In addition to being a well-known online gambling company, Pinnacle also provides odds data and analysis services.

OddsMatrix：OddsMatrixYesEveryMatrix, focused on providing flexible odds and data management solutions.

Conclusion

All in all, the sports betting market has broad prospects and has attracted many investors and companies to join. However, standing out in this highly competitive industry is no easy task. Opening a successful online sports betting platform requires comprehensive preparation and strategy, including obtaining an operating license, selecting suitable software and payment systems, and providing accurate and attractive odds.

Operating an online sports betting company not only requires strict legal compliance, but also requires massive capital investment and professional analysis team support. Attract customers with lower profit margins by leveraging reliablelines suppliers, And providing a variety of novel betting options can help new bookmakers gain a foothold in the market.

Facing the ever-changing market environment and increasing competition, maintaining the ability to be flexible and continuously innovating is the key to long-term success. As Statista predicts, the global online sports betting market will grow in the future Several years of sustained growth provide huge business opportunities for those businesses willing to invest time and resources. I hope that sharing this article can provide some valuable guidance and reference for readers who are interested in entering this industry.