To develop software for the gambling industry, an entrepreneur needs to know some basics of the industry. The goal of this article is to highlight the technologies in present usage. Gambling is an industry which is completely dependent on technological innovations. Owners of the gambling platforms are aware of modern technological trends and implementing new solutions as soon as possible. A few years back, the industry was used using fairly basic technologies and at that time, one would generally find two or three payment methods, primitive security, and little variety.
Newer technologies are continuing to provide new market opportunities for the software developers not only just because of internet gambling but also in the form of advanced slot machines, games for 3D slot gaming capable machines, video lottery terminals (VLTs), Server-Based Gaming (SBG), machine learning, reinforcement learning, blockchain technology and so on. And some software even allows to bring the brick and mortar casino experience straight to the user’s senses with virtual reality and augmented reality. It can be said that betting and gaming software products have complex lines of code that offer a plethora of modern features. For example, Flash technology based games have become outdated and the owners of the casino are moving to HTML5 games.
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The basics of betting software
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At a very basic level, betting software products offer users the possibility to place bets. On a more advanced note, they provide a safe and secure environment for gamblers and bettors alike. All platforms now feature advanced encryption with SSL/TLS and other security measures. Thus, they allow providers to offer users maximum privacy while still keeping them safe from cheaters, hackers, and other ill-intentioned individuals. On top of that, a good betting platform should also provide its users with the possibility of playing their favourite casino games online. After all, what’s betting without active engagement? Furthermore, look for software that works in HTML5, as this has become the standard internet protocol for every device.
Implementing high value services
Advancement in the technology is providing multifaceted advantages to the businesses resulting in economic shifts. A developer/company needs to comprehend the patterns of the market movements to strategize better. An efficient strategy offers the developers/companies an edge over the competitors. The more wanted features a software offers to its users, the more it is better. At a basic level, one should think about:
- Odds feed from varied sources
- Multiple payment systems
- Community features
- The ability to watch live games
Now let’s see how each of these features benefits the end-user.
(1) Odds feed from varied sources
As the name implies, users have access to the mathematical probabilities of a match. This way, you can offer them fair stakes for each match outcome. It gives bettors more odds of winning but also increases the chances of gambling salons to get a fair ROI.
(2) Multiple payment systems
Some betting software products offer over 400 payment methods. The benefits of having all these options are tremendous. It allows the user to bypass cross-currency exchange fees. On top of that, it adds the convenience of depositing a certain currency and cashing out another one.
(3) Community features
The social aspect of this gaming is an essential one. It actively increases user engagement and builds a strong community. When new clients see that your platform has an active forum, they will be more likely to stick to your website rather than use one from your competition.
(4) The ability to watch live games
This feature speaks for itself. Letting users watch live games on a website will keep them engaged much longer. And because they can bet on the same site instead of having to switch tabs, it makes their experience much more seamless and attractive.
Solutions for the business
Now let’s leave the users aside for a while and focus on what betting software products can offer to the entrepreneur. While you’ll want to keep the users’ chances of winning fair, you’ll also need to make a return on investment, and, subsequently, profit. Some of the tools that help you achieve just that are the following:
- Statistics
- Live scouting data
- Land-based solutions
- AI-based algorithms
- Marketing tools
Statistics and live scouting data are pretty self-explanatory. They allow you to calculate on the fly the odds of a match to determine what are the best stakes. Now let’s focus on what the other features do for your business.
Land-bases solutions
Land-based betting software refers to the operating system and UI of physical terminals in a casino or betting centre. Sportsbook, virtual casino, live casino games, and much more can be implemented inside these cabinets. Ideally, you’ll want to design software that offers most of the basic features for the users.
AI-based algorithms
Artificial intelligence has made a huge impact on the entire world. For betting software, it brought numerous benefits that it just didn’t have a decade ago. One major step was the introduction of anti-cheating and anti-fraud systems. Users no longer have to worry about them losing unfairly to someone who is a little more tech-knowledgeable than them. The next major change was the introduction of AI customer support. Long gone are those pesky bots that never have specific answers. Now an algorithm analyzes what a customer writes and based on that it provides much better support. And in case, it can’t answer a question, it will the question to a qualified human agent. AI can detect addictive patterns in user behaviour. If someone seems too bet too much consistently, it automatically suspends their account and sends them helpful links to help alleviate their habit.
Marketing solutions
Finally, the one thing that matters most in all businesses. A good betting software product should offer a full suite of marketing solutions. You should design tools to offer the possibility of engaging in affiliate marketing, optimizing SEO, and building a strong customer relationship with your client/operator. Other marketing solutions include social media, email marketing, search engine marketing, and the list could go on and on. Ideally, you should point the client to look into establishing a good marketing team even if the software you provide has easy-to-use tools. If marketing fails, the software is less likely to gain a market.
Live casino and VR – the ultimate betting experience
Ok, so we’ve mentioned shortly a few aspects of modern betting software, such as AI, blockchain etc. But by far the most engaging thing to look forward to when implementing such software is virtual reality and the option to create a live casino. You’ve probably already heard of VR and how it puts you in the shoes of a player character. Using VR, you can offer the users to navigate inside a casino, sit at a table, and interact with objects the same way they would do in real life. A live casino isn’t necessarily set in VR, but it would be nice to have both of these options implemented. in layman’s terms, a live casino will allow the users to interact with real dealers and player through a headset and camera just like in real life. A user anywhere from this world can play roulette in a Vegas casino.
Conclusion and thoughts
We’ve tried to cover most of the aspects of how sport betting products work. However, the topic has far more matters than what we could present in a single article. If you want to start to offer software to the gambling and betting industry, you would like to stand as a respectable company and would like to know the cost of software from other companies. Despite all the advantages and prospects with the development of software for the gambling industry, the real situation for developers is yet challenging.
