Stepping into the iGaming market can be a tough endeavor, as you have to take care of software, licensing, website building, compliance regulations, and whatnot, all by yourself. Moreover, there is market competition, which is an evergreen challenge. Now, what if there was a way to bypass all this hassle and still enter the gambling market?
A white label sportsbook solution is the answer to the question. The software can help you enter the market without worrying about any licensing, software building, or other complexities of the process. Read ahead to learn about what the software is, its features, and its benefits.
Understanding the White Label Sportsbook Solution
You can say that a white label sportsbook solution is a pre-made, ready-to-launch sports betting platform offered by a third-party provider. The software allows the entrepreneurs to enter the online betting market quickly and with minimal technical hassle.
With a white label solution, you don’t have to take care of backend development, licensing, payment integration, odds management, and technical support but only focus on branding, marketing, and customer acquisition.
In short, you get a fully operational sportsbook under your own brand name. Yes, you are free to make changes to the logo and theme of the software. However, the backend systems, betting algorithms, and software architecture are not customizable in white label software.
Why Launch Your Betting Platform With a White Label Sportsbook Solution?
When you choose a white label sportsbook solution, you are taking a lot of hassle off your mind while keeping your business goals aligned. Here are some reasons that prioritize using white label software.
Launch faster
As mentioned in the title, with access to white-label sportsbook software, you can launch your betting platform faster. As white-label software has all the critical features, such as a sports betting engine, payment gateways, an admin dashboard, regulatory compliance, and more, you don’t have to worry about creating them from scratch, saving you development time.
Less investment
The software option is ideal for startups, as it does not cost much and has predictable ongoing fees. There is no need for you to invest in software development, infrastructure, or licensing. Everything is included in the solution. The upfront cost of white label software can be as low as $7,000.
Built-in licensing and compliance
One of the best things about white label software is licensing and compliance. In contrast to other software choices like turnkey sportsbook software, the white label sportsbook providers have already acquired the required licenses for operating in various jurisdictions. Therefore, you don’t have to go through a complex licensing process yourself. You can operate under the same license.
Built-in marketing tools
Besides launching the software, it is also crucial to invest in player retention strategies, and fortunately, the white label software has the tools to do it. With a white label software solution, you can attract, engage, and retain users more effectively. It offers you built-in marketing tools like affiliate systems, CRM tools, and bonus features.
Access to global payment gateways
Some of the best white label sportsbook providers, like TRUEiGTECH, offer access to pre-integrated multi-currency and crypto-friendly payment systems in the software itself. Therefore, you can operate on a global level with the help of white label software.
Must-Have Features in a White Label Sportsbook
If you want to excel in the market with your white label software, there are some features that must be in your software solution.
- Pre-Match and Live Betting Options: Add both pre-match and live betting options for the users to place bets before and during the game with real-time odds and event updates across multiple sports and leagues.
- Real-Time Odds Management: Dynamic odds updates and automatic risk balancing are a must to ensure fair, competitive, and profitable betting margins. This feature is necessary for professional players on your platform.
- Integrated Payment Gateways: Make it simple to handle deposits and withdrawals by offering support for popular local and international payment methods, including UPI, PayPal, cards, e-wallets, and crypto.
- Bonus and Loyalty Program Tools: To make your users come back to the platform repeatedly, you look for welcome bonuses, free bets, cashback offers, and loyalty programs in the white label software solution.
- Mobile-Friendly & App Compatibility: A mobile version of your white label casino is crucial to attract and retain more players. Therefore, make sure that the software is mobile-friendly and has responsive elements that seamlessly fit the handy device.
Besides these, there are several other features that you must look for in white label software, such as security and fraud protection, an admin dashboard, reporting and analytics tools, affiliate and agent systems, and more.
Steps to Launch Your Betting Platform With a White Label Provider
Launching your online sportsbook is a strategic process. Follow these steps to go live quickly and efficiently.
- Market research: Analyze the market to look for trends, competitors’s offerings, market needs, etc. to design unique selling propositions for your software.
- Choose a reputable white label sportsbook provider: Look for a provider that abides by compliance laws, offers customizations, handles licensing needs, and offers 24/7 customer support. Do check the reviews and customer testimonials before choosing.
- Customize the platform: Based on your brand voice and target market, customize the platform to add your brand logo, make color palette adjustments, modify the background theme, etc.
- Set up payment and security systems: Once the customization is complete, set up payment gateways, including support for fiat, e-wallets, crypto, etc. Furthermore, ensure that its SSL encryption, fraud detection, and KYC/AML compliance features are active.
- Develop and implement marketing strategies: Invest time in developing and implementing marketing strategies, including SEO, influencer marketing, affiliate marketing, PPC ads, etc., to attract players.
- Go live and monitor performance: Launch your platform and monitor its performance and user reviews to make improvements for enhanced player retention and user experience.
Conclusion
Investing in white label sportsbook software development is one of the finest investments to make if you want to enter the iGaming market faster. Moreover, to grow in the market, it is also crucial to have relevant features in it. As it can be a challenging undertaking, you must choose the right white label sportsbook provider.
TRUEiGTECH is a reliable sportsbook software provider on the market. Backed by an experience of 10 years, the brand excels at catering tailored solutions to its clients. The brand has launched over 15 sportsbooks so far and has served over 150 clients worldwide. So, if you want an out-of-the-box white label software solution, you can get in touch with our experts and discuss your business needs. Contact us today!
Founder Dinis Guarda
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