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The sports betting market is expanding at an exponential rate. As the research of Statista reveals, the sports betting and lottery market size peaked at 231.33 billion US dollars by 2022, when in 2020, the same indicator was at 172.89 billion USD. The statistics also show that the global sports betting industry is expected to grow at an astounding 10.23% rate. With all the facts in hand and the optimistic prospects made by the experts as well as by our statistics, we can conclude that it is the best period to enter into the sports betting industry and start your sportsbook business with high hopes, and based on our experience the best and fastest solution for that is white label sportsbook solution.
White label sportsbook solution is the fastest way to launch your sports betting business into the market. Thus, if you are thinking of starting your sportsbook business with a white label solution, keep reading the article. Before discussing the details of the white label sportsbook solution, we also want to remind you that you can also opt for a turnkey sportsbook solution, or if you already have a platform, get sportsbook software through the sportsbook API integration tool (read the following article – what is sportsbook API). If you are planning to start your sportsbook business, we also recommend you to read the article about how to start a sportsbook.
What is white label solution?
White label solution is the most efficient and fastest way to start your sports betting business from scratch. It is a very common and widely accepted method that simplifies the launching process of your platform and business operations. To explain it in simpler words, the white label sportsbook solution is an off-the-shelf, pre-made product that is ready to launch. It takes away all the hard work of the initial stages and sets your sports betting business directly in a ready-to-launch mode. By deploying this option, you can make the most of your sports betting business and enjoy the product that guarantees simplicity and instant launch on the market.
How to choose a white label sportsbook provider?
Providers offer white label solutions that enable you to launch a sportsbook quickly and efficiently. Nonetheless, you must explore some key considerations when choosing a white label sportsbook solution provider.
- Evaluate the provider’s experience and reputation – When choosing a white label sportsbook solution provider, it’s essential to evaluate their experience and reputation. Look for providers with a proven track record of success in the industry. The provider should have experience in your target market and be able to offer valuable insights and guidance on optimizing your sportsbook to meet the needs of your audience.
- Assess the provider’s technology and features – The technology and features offered by a white label sportsbook solution provider are one of the critical considerations. Look for a provider that offers a robust set of features, including a customizable user interface, a variety of betting options, and reliable odds management tools. The provider should provide a secure and scalable platform to handle your anticipated traffic.
- On-demand Customization – The provider should be able to make additional customizations to the platform according to your needs and demands. Although extensive customizations are the main features of the turnkey solution, several adjustments and adaptations can also be made in the white label sportsbook solution.
- Consider the provider’s pricing model – Pricing is another critical aspect when choosing a white label sportsbook solution provider. Search for providers that offer transparent pricing structures that are easy to understand and competitive within the industry. Make sure you fully understand the provider’s pricing before signing a contract.
- Assess the provider’s regulatory compliance capabilities – Generally, white label solutions come with a license. Therefore, it’s critical to assess the provider’s regulatory compliance. The provider should be well-versed in the regulatory requirements of your target market and ensure compliance with the given laws.
- Security and safety of the system – It’s better to choose a provider that offers sportsbook risk management, including secure payment processing, anti-fraud measures, and data protection features to ensure the safety of your platform. Other measures providers should offer include implementing strong encryption methods and security protocols to prevent unauthorized access to user information. Additionally, the platform should have a comprehensive user verification process to guarantee that only authorized individuals are granted access.
- A user-friendly interface – To attract new customers, your sportsbook should have an easy-to-understand interface that is simple to navigate for clients. If the interface is user-friendly and has a customized design, you have a higher chance of attracting new customers and keeping existing ones.
- Software must be scalable – Access to your sportsbook should be easy for large numbers of players. Is the software able to process many transactions per hour (TPS)? Issues and problems with scaling can cause an outflow of players and revenue loss.
- Pre-match betting, live streaming, live betting – Your sportsbook should offer a variety of betting markets, pre-match events, and live events. Your players should be able to view the live streaming of any event on which they plan to place a wager.
- Support of In-house bookmakers – The team of in-house bookmakers is made up of experts who analyze and determine the coefficients of the betting markets. Bookmakers accept and pay out bets on sporting events at agreed-upon odds. These odds can change throughout the live event. In-house bookmakers set odds based on various factors. Your sports betting business will not succeed without their support.
- Consider whether the provider offers virtual games and esports – Including esports in your sports betting platform can bring many benefits, including gaining new clients and increasing site traffic and revenue. You should also check if the provider has Virtual Sports, as many players opt for this option due to the speedy results and availability at any time.
Setting up your sportsbook
After making the final decision about the provider that suits your requirements, different steps come up as you start to set up and launch your sportsbook software. To sum up, they include signing the contract with the provider, integrating their platform, and creating the marketing strategy for your sports betting business.
The first step is to sign a contract with the white label provider. The contract will outline the terms of your agreement and the services you will receive.
Once you make all the necessary adjustments and sign the contract with the provider, providers start setting up white label sportsbook platform for you. The set up process includes website preparation, game content activation, payment system activation, customization of the platform per your requirements, and website testing before the launch. This process gives you access to the sportsbook software and the platform and back office with all the necessary tools, including the payment system, bonus system, back office, CRM software, risk management tools, anti-fraud system, and the license. The sportsbook set up process doesn’t take too much of your time. Since the white label solution is a ready-made product, it can be launched within few weeks after the agreement is signed.
Suppose you already have a platform and only need sportsbook software. In that case, you can get it with Upgaming’s sportsbook API integration tool, which guarantees the seamless integration of the sportsbook into your existing platform, giving you access to all the sportsbook features.
Thus, if everything is ready and you have your platform under control, you are prepared to go and explore the iGaming market by making your very first steps. Since the software provider does everything for you on the platform side, you can use that time to start doing market research, competitor analysis, audits, and creating actionable marketing strategy so that you can start your sportsbook’s advertising activities as soon as the platform setup process is finished.
Your sportsbook marketing strategy may include a few different sources for traffic generation, such as SEO optimization, affiliate marketing, Your sportsbook marketing strategy may include a few different sources for traffic generation, such as SEO optimization, affiliate marketing, or display advertisements. However, in the beginning, we recommend you stay away from PPC traffic sources and stick to CPAs since, based on our experience, CPAs can get you traffic faster, and if they don’t, there is nothing for you to lose. CPC takes time to learn what type of audience and targeting options work for you. So you can first start generating revenue with CPAs, and once you have most of the major affiliates, you can start doing CPC.
However, remember that when it comes to the sports betting business, it is of utmost importance to develop a strong bonus system and engaging promotions to entice players that visit and register on your website. Thus, have in mind to add multiple bonuses on your platform and develop new ones to attract and retain players.
White label solution VS Turnkey solution
Our white label sportsbook solution covers not only the technical aspects of a project but also handles all administrative, legal, and tax needs. Operators who prefer to be in charge of everything rather than have a guard companion may opt for a pure technical outlet and choose a Self service platform for their sportsbook that covers gives you maximum control, however you can always choose turnkey solution – middle ground between self service and white label platform.
Both options are available at Upgaming. Based on your specific needs, requirements, and experience, we have created two sets of sportsbook services. While our White label and turnkey solutions are similar in many ways, there is a list of differences to be aware of. The given table summarizes the main differences between white label and turnkey sportsbook software.
|White label solution||Turnkey solution|
|Rapid setup and quick launch||Fully customizable|
|Cost-effective approach||Unique, exclusive design|
|Includes the license (MGA and/or Curacao)||Guidance to get a license|
|Off-the-shelf product||On-demand content|
|No operation expenses||Full control over the platform|
What does Upgaming’s white label sportsbook offer
Upgaming’s white label sportsbook solution provides a practical, professional management system designed with expertise generated throughout the years. The main point is that it gives you access to ultra-fast sportsbook software with various betting market types, the highest coefficients, and fast resulting. These aspects ensure that you can enter the sports betting industry with a full-fledged product that can give you a competitive advantage over the other operators.
Upgaming’s white label sportsbook solution includes a strong defensive wall with fraud-prevention programs and AI-equipped security services and tools, creating substantial defensive barriers to protect your platform from harm.
Upgaming is the best choice for people with a tight budget, a limited time frame, and a clear business vision. Our white label sportsbook software offers you:
- Ultra-fast and scalable infrastructure
- Fast resulting
- Multifunctional back office and real time resulting
- Exquisite, rich bonus system
- Esports software and virtual sports
- More than 5 200 betting markets
- +112 000 live events and +96 000 pre-match events
- More than 140 types of sports
- Highest coefficients and the full time support of in-house bookmakers
For more information, contact our sales team and get a detailed outline of our white label sportsbook solution and other offerings.