How to Create a Betting Website
The online gambling market has grown beyond anyone’s speculations in the last 2 decades. Sports betting, to be particular, spread all over the world like wildfire. Just like the punters, the operators also had a lot of fun. If you’re thinking of being one, this is your guide on how to create a betting website.
How to start?
Just like any other business, the development process includes multiple steps. You need to approach it systematically to build a solid foundation. The most important thing is to not rush.
Defining Requirements
The first step on how to create betting website is to define your requirements. By requirement, we’re referring to things you need from your business. For starters, you need:
- A valid license
- Payment processors
- Someone to develop the platform
- The features you expect from the betting website
- The budget
- Budget management
- Income projections
Once you manage to dial in all of these settings, it’s safe to assume that you’re ready to move forward.
Setting Priorities for How to Create a Betting Website
After you figure out what your requirements are, you need to sort them based on priority. Some of these steps will take longer to achieve compared to others. You should put those steps in motion first to avoid any downtime later.
Also, take quotes from developers for different phases
Acquiring the License: What Jurisdiction to Choose?
A license will build credibility for your business. It also assures the bettors that their hard-earned money is in good hands.
As India doesn’t regulate online gambling, you can’t acquire a local license. That opens up a lot of possibilities for you. There are plenty of reputed license providers across the world who’ll grant you the license in exchange for the appropriate fee.
Keep in mind that your business will also be legally registered in that country so you can’t just randomly pick one. To help you out, let us list the top license provider countries:
- The Infamous Curacao License.
- Malta Gaming Authority (MGA).
The Development Process
Once you take care of the license, you’re now ready to start the development process of your betting site. You might feel the urge to learn how to create a betting website from scratch and do it yourself using existing technologies like WordPress. Don’t do it!
You’re creating a business. And the purpose of creating a business is to get returns on your investments. It means you need spotless integration of all the features that the players can enjoy. While you can dedicate years of your life to learning how to be a web developer, is that a feasible choice? Of course not!
So, you’ll need to hire a team to develop the website or app for you. Or, you can directly go for a turnkey solution. The term “turnkey” is literally what it sounds like. You get a ready-made template for your betting website, update it according to your needs, and “turn the key” to launch it.
Another great thing about turnkey solutions is that they often come with everything integrated, including payment solutions. In that case, you don’t have to manually reach out to local payment providers and negotiate the terms.
Choosing Payment Providers
In case you’re wondering what payment methods you should go for when learning how to create a betting website in India, you can use the ones listed below as a baseline.
- Paytm
It’s perhaps the most used payment method in India at the time of writing. Since its inception, Paytm has revolutionised online payments for Indians. There was a time when only “tech-savvy” people used online payments through their bank cards.
But Paytm allowed pretty much anyone to pay for goods and online services without a bank account. It even set up KYC points all over the country so that people could open accounts on the go! So, if you’re planning to penetrate the mass market with our how to create a betting website guide in India, Paytm is a must.
- UPI
This is more of a payment network than a payment method. It’s government incentivised which means the security protocols and regulations are next level. UPI stands for Unified Payment Interface. GPay, PhonePe, Paytm, MobiKwik, Samsung Pay, Amazon Pay, etc. all come under the same network.
So, as long as your audience has access to one of these methods, they can use UPI to deposit into their accounts. You don’t have to partner up with all of them separately.
- Visa/Mastercard
When it comes to international payment methods for how to create a betting website, it doesn’t get any better than Visa and Mastercard. These 2 electronic payment processing companies are the market leaders when it comes to credit or debit cards. In India, especially in major cities, almost everyone has a bank account.
- PayPal
No list of payment methods is complete without PayPal, is it? PayPal is perhaps the most used online payment method that’s not a traditional banking channel. As people can open an account by simply using their email address, they’re more likely to use it than credit/debit cards.
- Skrill/Neteller
India has made its place in the list of serviced countries for both Skrill and Neteller. These 2 are the most used e-wallet in the iGaming industry. In fact, part of the reason behind their launch was to manage online gambling payments! So, you can’t really ignore these 2 methods when your goal is to reach a wide audience.
The Rating System to Calculate Odds
This is one of the most crucial steps of how to create a betting website because you’re dealing with sports betting. And sports betting is nothing without odds. If you’ve spent time on real money sites before, you may have seen how the odds change with the progression of an event.
In our opinion, it’s best if you can offer at least the “big three”. Those are the decimal odds, the American odds, and the fractional odds.
Choosing the Right Design
While the actual design will be taken care of by the web developers, you need to have input in the process. They must resonate with your theme as well as create a unique stance for your business down the line.
From what we’ve seen, betting sites tend to be very cluttered on the homepage. If you can get out of that approach and offer something new, we believe it would be great. Then again, it should be your personal choice. Look for what the competition is doing.
