iGaming is one of the fastest-growing industries in the world and displays incredible revenue potential. Many entrepreneurs are looking to penetrate this lucrative market with their very own online Gaming software. With time, the demand for iGaming platforms is increasing at a rapid pace and has become a fruitful business opportunity. You can also introduce your iGaming platform to churn this profitable opportunity. But, to launch a successful platform, you have to enrich it with top-class features and functions so it can create a big difference in the gambling world and attract more users for you and you can make a huge revenue.
To introduce your iGaming platform, the first step is to make your budget so you can successfully bring your key idea to life. Here, in this blog, we are going to discuss the cost of iGaming software in detail so you don’t have any doubts in your mind.
According to Grand View Research, the global online gambling market was valued at $57.5 billion in 2021 and is expected to grow at a CAGR of 11.7% during the forecast period(2022-2030). It is expected to reach a market value of $153.6 billion by the year 2030.
Let’s dive in-depth to know the key factors that affect the development cost of iGaming software. But, before this let’s know about iGaming.
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Any type of online gaming that includes betting or gambling can be called iGaming. iGaming involves playing or betting on the outcome of a game or event through the internet, such as live casino games, slot machines, sports betting, horse racing betting, and fantasy sports. The online gaming industry includes, but is not limited to, sports betting, online casino games, poker games, video games, etc. Now, let’s start to know the cost-affecting factors of iGaming software development.
There are various aspects that affect the development cost of iGaming software so when you are making your budget to introduce your iGaming platform you should count the below-given aspects so you can make an informed decision to launch a successful gambling platform. Let’s start to know.
Features are integral parts of an iGaming platform that offers interactive and immersive gambling experiences to the users. The features of gaming software greatly influence the iGaming software cost. However, make sure not to over-clutter the application with unnecessary features. The more complex features and functions the more cost.
| Features | Description |
| Cross-platform Compatibility | Nowadays, online Gaming is conducted on various platforms. It is important to ensure that the provider provides cross-platform compatibility so users can access your software without any hassle. |
| Easy API Integration | Make sure to choose a provider that offers seamless API integration which significantly enhances the gaming experience. |
| Safe & Secure Payment Gateways | Always include secure payment gateways to protect the users’ financial information. It is also important to include multiple payment options like PayPal, GooglePay, credit or debit cards, etc. |
| Referral Rewards | By integrating this feature into their online Gaming platform allows users to invite their friends and family to the gaming platform in return for various in-game rewards. This is a great feature that increases the user base and pleases the existing user base simultaneously. |
| Live Chat | The live chat feature allows users to interact with each other using text, emojis, and voice. It offers a competitive and interactive gaming experience. |
| Multilingual Support | An online gaming platform isn’t restricted by geographical boundaries and caters to a worldwide audience. Most igaming platforms include multilingual support so users can enjoy the game in their native language. |
| Cryptocurrency Support | Most iGaming platforms now include cryptocurrencies as an acceptable payment method. |
| RNG System | Use the RNG system to ensure fair play and unbiasedness in their betting games. |
| 24×7 Customer Support | It is important to provide 24×7 customer support to quickly address and solve users’ queries. |
Related : Best Game Development Companies in India
Developing a native-platform application will cost less than creating a cross-platform Game application. The platforms you are targeting are one of the most important factors that influence the cost of making Gaming software. However, if you are not tight on budget, you must pick an software provider that offers cross-platform development.
The technology stack of the development process is also an integral aspect. It is beneficial to choose the tech stack beforehand to streamline the development process. Moreover, different developers and platforms require different sets of the technology stack. Choose and buy your technologies wisely to complete the development process on an estimated budget.
The most important factor which will greatly influence the igaming software cost is the region of the developers. Developers of different regions have different costs. India-based Developers are generally cheaper than USA-based Developers. Make sure to choose the developers according to your estimated budget. Here is an average cost guide-
Designing is another important aspect that influences the development cost of the iGaming platform. It is necessary to include stunning visuals and designs in online gaming software. To include high-quality designs in your software, you will have to hire experienced and skilled designers who also charge by the hour. However, if you hire an iGaming platform provider, the development cost is reduced significantly as they provide in-house designers.
The primary objective of any igaming platform is to attract more users and generate maximum revenue. There are multiple ways to generate revenue in an online Gaming platform and for that you can introduce various strategies but the more strategies the more cost of iGaming software.
An iGaming software solution can take advantage of microtransactions in the form of in-app purchases to generate additional revenue. These in-app purchases generally contain consumable and non-consumable game assets that have no impact on the gameplay experience whatsoever. You can even provide users with the ability to buy in-game currency or coins so they never run out of money to bet on multiple sports.
The subscription model allows users to buy a specific program in the igaming software to unlock additional content and rewards. These subscriptions generally last a month, after which the users have to re-subscribe to the program. Business owners generally provide exclusive and lucrative in-game assets in the subscription program to attract more users.
This is one of the most commonly used monetization strategies in igaming software solutions. You can display third-party advertisements in your app or software to generate additional revenue from the software. However, make sure to place the ads strategically so they don’t hamper the gameplay experience of users.
The Freemium Model allows users to try out an application and then choose to buy it. Users can download the premium version of the software with some locked features. Users are asked to buy the premium version of the software to access several features. This revenue model puts the power in the users’ hands and allows them to evaluate the quality of software before buying it. B
All these monetization strategies add more cost to make iGaming software. To know the exact cost, you can share your innovative idea with an iGaming services provider.
Related : Process To Develop Your Game
The cost to create iGaming software varies from $30,000 to $50,000 with basic features and functions, and a single platform. However, it may be up to $1,00,000 with advanced functionalities and multiple platform compatibility. To know the exact cost, you can share your iGaming idea with a reputable iGaming software development company.
| Development process | Android Platform | iOS Platform |
| UX/UI Design | $2,000-$4,000 | $3,000-$6,000 |
| Native Platform Development | $10,000-$20,000 | $15,000-$30,000 |
| Backend Development | $4,000-$6,000 | $5,000-$7,000 |
| Admin Panel for Web Development | $4,500 | $4,500 |
| Testing & Q/A | $5,000-$7,000 | $6,000-$8,000 |
| Project Management(15% of the estimated budget) | $3,500 | $4,000 |
| Final Cost | $30,000-$55,000 | $40,000-$60,000 |
BR Softech is a leading iGaming software solutions provider that has made a big hype around the world by offering top-class software solutions for the casino and iGaming industry. Their prime aim is to offer you a platform that can help you take your gambling business to the next level. This blog offers you a complete guide to knowing the cost of developing iGaming software if you are inspired by the iGaming platform and want to launch your platform, share your idea with BR Softech so that they can enrich it with the latest trends and tech stacks so it can stay ahead of the curve, and can bring fruitful results for you.
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Ans. Customization options allow you to tailor your iGaming platform according to your business requirements such as adding specific features, branding, and target players’ preferences. Integrating customization option increase the development cost of iGaming software.
Ans. The location of the iGaming services provider plays a huge role in deciding the cost of iGaming software. For instance, if you hire a software provider from India, it will cost you less. Meanwhile, if you take services from the USA or any European country, the iGaming platform cost will go high. Before taking services, make your budget then hire a provider.
Ans. Multiple factors affect the development cost of iGaming software such as ideas, features, functions, complexity of features, tech stack, platform compatibility, Third-party APIs, scalability, safety and security, fair gameplay, payment gateways, etc.
