It is without a doubt that betting apps have aided the rapid rise in consumer betting. Gone are the days of everyone having to visit the local bookmakers. Betting apps have given the opportunity for sportsbooks to reach all sorts of clients. There is no longer the reliance on the physical store; now both options work to attract a wider audience.
The industry has rocketed in America since 2018 when the law changed to allow states to decide upon legalizing sports gambling, and it was no longer only available in Nevada.
Collectively, the global sports betting industry reached and market size of $203 billion USD in 2020 and is expected to continue to grow to $135 billion by 2024.
While the number continues to grow, it has been reported that 30-40% of global gambling is on sports betting, with over 45% of all sports bets coming through mobile devices.
Online sports gambling is a massively increasing market and especially since the pandemic, has given people the opportunity to gamble on different sports being played when the option to attend or visit a bookmaker has not been possible.
For sports betting apps to appeal to the consumer and increase the income for the sportsbook it must ensure it is easy to navigate. An app that isn’t easy to use or find the sports or games that a person is interested in will put off potential clients.
Registration must also be quick and easy for the user, ensuring no time is wasted. This is often made easier with rewards for new users, who will put up with the need to input their information prior to betting if they see a reward for their trouble.
With so much competition, if a punter is unable to place their bet almost immediately, they will often move on to another provider. For example, if someone is interested in placing a bet on NBA online, they will want to be able to find the exact game from the homepage easily and find their options of bets in an organized and easy-to-understand display.
Taking NBA as an example, it is necessary that the user not only has access to every game but that there is a vast array of options for betting on each.
Points spread bets are the most popular in the NBA, with points spreads starting from evens to 17 points for every game. The spreads take into account both teams’ general stats, you can look into the teams who are best at home or away and read the spreads for the best value options.
Totals bets usually range from 200 to 240 points and punters can bet on the total cumulative points scored in a game in a higher or lower option. Along with these, there is a. number of games props and NBA features that every good sportsbook covers, including NBA rookie of the year and sixth man awards amongst others.
Along with a vast amount of betting options, it is vital for a successful online sportsbook to offer in-play features and betting to their clients. The convenience of being able to place immediate bets while the action is happening is something that has become expected in sports gambling.
Cash-out is something that goes hand in hand with in-play betting and has become a popular option for punters. It is something that works with single bets but is also very popular with accumulators, especially if the games start at different times.
A successful cash-out gets you the most money with the least risk from your bet. An offer is displayed next to your bet with a function to take the money are run, rather than hold out to the end to see if everything comes in as you hoped and predicted.
While being able to place in-play bets is vital, having a successful streaming service also offers punters the chance to view more games. With the opportunity to see more comes the opportunity to gamble more and punters are able to get up to the second odds on a wide range of options.
While having all the options for betting that the punter demands, ensuring the security of their information and money is imperative. Entering your bank account details or any other personal information should not be a risk to the client.
When searching for the right bookmaker, ensuring they are registered to the gambling commission based in the country you are betting is the best advice. There are some which are registered abroad, and this is something that needs to be considered when deciding upon the sportsbook you wish to use.
It is important to find a site that you are comfortable using and has all the options available to you for the type of betting that most appeals. Safety and security should never be an afterthought and checking that your online bookmaker covers all bases and is registered to your gambling commission.