According to the Zion Market Research report, the global sports betting market is expected to grow at a steady 9% per annum over the next five years, with most of the growth coming “thanks to the digital revolution that is changing the world every second”.
Niche Area Selection
Almost all of your major online competitors such as betway.com, 888sport.com and bet365.com offer betting on all sports. And you can hardly compete with these big companies unless you are prepared to spend some serious money on a marketing campaign. If your budget is limited, it is much better to focus on a specific category or sport (niche).
Targeting a niche that can deliver performance will create a better user experience and make the site more recognisable. You can develop unique game offerings, specific to your chosen sport and, of course, without competition.
It is important to develop a marketing strategy for a specific niche. With a narrower audience, you can more effectively target an advertising campaign and increase the loyalty of your participants.
You will need to create a roadmap according to the geography in which you plan to work. Put simply, football is popular in Europe and American football is virtually non-existent, and vice versa, American football is popular in the United States and there is virtually no interest in football there. The popularity of betting on certain sports can be tracked using Google Trends.
Approach to be Selected for Development
Your visitors should be confident that their money is not being stolen, that the odds are not being “rigged”, and that the developers are providing adequate protection against hacking and/or tampering.
We therefore recommend that you use the development services of reputable companies in the market. When it comes to online sports betting, special development allows you to implement additional features. It is also beneficial in terms of marketing.
The development of a site such as Bet365, which is registered in Gibraltar, involved an investment of $3 million. The site has many licences, not only for sports betting, and the cost of developing the site is 80-100 thousand dollars (+ the same amount per mobile application). Millions of dollars have been spent on marketing and advertising.
These sites are mainly located in the Middle East and Asian countries. In Europe, only Poland has a total ban on betting. It is important to bear in mind that there may be countries where not only entrepreneurs but also players are penalised.
For a detailed analysis of a particular country’s relationship with online betting, see “Simon’s Guide to Online Gaming Legal Status and Laws”.
As a betting service provider, your company will need to apply for a licence in the chosen jurisdiction. It will take several months to a year for the matter to be considered by the authorities (depending on the country and the bribes required).
The Isle of Man is an area frequently used for this type of work and is difficult to locate on a map. All types of gaming entertainment can be recorded. While the cost of the licence varies according to the structure of the company and the type of form it takes, a minimum investment of $50,000 is required. If the company’s turnover is less than $20 million, the tax deduction is 1.5%.
Choosing a Service Provider for Payments
In order to start a betting business, you will need to sign up with various payment providers so that players can easily and quickly deposit and withdraw funds from your platform. For convenience, it is recommended that you provide users with as many payment options as possible.
Stripe, Paypall and Authorise.net are 3 popular networks.
Amount of Projected Income
Typically, sports betting sites earn between 2% and 4%. The lower the revenue percentage and the more interesting the software interface, the more users will find your platform attractive. According to the study, the average bet in Europe is between $50 and $70. Using these figures, with 1,000 daily active users, it is possible to earn $1,000 per day.
If you run a more aggressive marketing campaign, you can earn more than $30,000 per month.
Establishing a Betting Site in Turkey
When examining the legislation, it is important to emphasise that the establishment of a betting and gambling site in Turkey is completely criminal and those who resort to illegal means will face serious sanctions and penalties.
Again, specifically for Turkey, the only legal betting company in the country is İddaa. Tuttur, Nesine, Bilyoner, Birebin, official sites such as Misli and Oley are private institutions affiliated to İddaa and their prices are more or less the same. In summary, it is an ambitious approach to say that nobody can open a betting site in Turkey, but it is also difficult to do.
I recommend you to create an information news & commentary site that shares coupons instead of a betting site. If you are one of those who would like to have a website or a blog and would like to receive more detailed and professional support on the subject, you can contact us via our email address email@example.com.