Online wagering where gamblers bet on the outcome of a game or event in activities like sports matches, casino games and Esports has grown into a multibillion-dollar industry since the first online iGaming website was launched in 1994. No wonder so many businesses enter the iGaming industry year after year in light of continuing expansion of the iGaming market: the global online gambling market size was valued at USD 63.53 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 11.7% from 2023 to 2030, according to Grandview Research.
Turnkey iGaming solutions have proven to be an ideal choice for launching an online betting business. They are essentially ready-made solutions developed by iGaming software providers, and include features and business management modules that can be tailored to the specific requirements of a client. Besides customization of both back-end and front-end features according to client requirements, turnkey sports betting solutions are usually designed to seamlessly add more features through third party integration.
MAIN ADVANTAGES OF TURNKEY SPORTS BETTING SOLUTIONS
Turnkey sports betting solutions offered by specialized gambling software providers allow businesses to enter the iGaming industry in as little as a couple of days, without incurring the heavy capital expenditures associated with developing an online sportsbook platform from scratch. Let’s briefly review a couple of top benefits of turnkey iGaming solutions.
Comprehensive Functionality
When you buy a turnkey iGaming solution, you get all the essential functionalities that an online bookmaker is expected to offer, and all of them tailored to your specific requirements. These include core sportsbook software components such as the betting platform, integrated payment methods of your choice, technical support, as well as marketing, reporting, and risk management tools.
Flexibility
iGaming software providers let customers choose which payment methods and processors they want to use in their turnkey iGaming solution and negotiate for their preferred terms with them. That refers also to the sports content and other data that they want to promote on their online betting platform.
HOW TO SELECT A TURNKEY SPORTS BETTING SOLUTION PROVIDER
A turnkey iGaming solution offered by a sportsbook software provider is essentially a bundle consisting of a sports betting platform that a developer has created and tested, along with modules and functionalities like reporting, marketing, and payment processing.
Here are a few highlights of functionalities that the software of a proficient turnkey iGaming software provider should excel at.
Comprehensive Betting Markets and Sports Coverage
Competition in the online betting industry is high and a sportsbook has to offer more than 40 sports and several thousand events each day to succeed in turning profit. Pre-match and live betting options of turnkey solutions of successful iGaming software providers most likely will exceed these levels.
Customization
Branding through establishing a unique identity in your sportsbook helps differentiate it from competitors and generate loyalty and recurring business via engaging betting experience. The more extensive the options that iGaming software provider offers for user interface customization, the higher the likelihood of attracting and retaining players by establishing a successful unique identity in your sportsbook.
Advanced Risk Management and Odds Setting
Turnkey gambling software enables online gambling businesses to generate competitive returns on their investments by offering players good-value odds that provide sufficient edge or margin for the betting platform. Successful sportsbook software achieves these goals by integrating risk management processes that monitor the sportsbook’s risk exposure and let it control the odds, house edge and profit margin before problems occur.
Data Protection and Secure Payments
Protecting user information and financial transactions is crucial for the survival of any business, even more so for online businesses. It is no surprise that iGaming software providers employ advanced security measures such as secure data encryption technologies, anti-fraud systems, and identity verification.
A versatile payment processing system that handles deposits and withdrawals is another crucial component of a sportsbook software. Finding reliable payment processors and negotiating terms for their services may seem not a difficult task if one is given enough time. In practice, however, one of the most difficult tasks of launching your own sports betting business is the integration of payment methods: payment processing operators want proof that you are a trustworthy sportsbook before they agree to work with you.
Retaining the services of an established sportsbook provider solves this issue: they already have a portfolio of banking options included in the turnkey solution and can help you integrate them. These payment gateway solutions include credit and debit cards, e-wallets, crypto, prepaid cards, bank transfers, etc.
BENEFITS OF IGPIXEL
iGpixel is an example of a leading iGaming software provider that delivers turnkey sportsbook solutions with cutting-edge industry features and functionalities. Its competitive sportsbook software with extensive customization options has enabled several customers to successfully launch their iGaming businesses.
Moreover, iGpixel offers odds feed for almost 120K bets on sporting events worldwide for 2K tournaments across 120+ sports, and 200K monthly events. Live betting is also included as the developer offers 10,000+ slot games, Live Casino, Skill Games, Virtual Sports & VR Casino, and extensive game library from top providers.
In addition, iGpixel provides its clients proper help to obtain internationally recognized online gaming licenses.
Real-time reports and analytics complete with risk management tools let the scalable betting platform check risk exposure by controlling margins and limits.
Powerful marketing tools help attract and retain players by studying their behavior and offering personalized player experiences. The company also provides multifunctional affiliate and agent system modules that can be tailored to client preferences to enhance market penetration and revenue.
Finally, iGpixel offers dedicated account managers along with round-the-clock technical support while their turnkey solutions integrate multi-currency, crypto-friendly and secure payment systems, as well as multilingual client support.