Looking for sports betting exchange software? If yes, this comprehensive guide has everything you need. Read on!
Sports betting exchange software is an online betting platform where users bet against each other predicting opposite outcomes. The software supports Back/Lay bet types engaging punters and providing flexibility in their betting choices. By developing sports betting exchange software, entrepreneurs can expand their business and target a much broader audience.
Online betting exchange software allows punters to access more freedom and flexibility as compared to other traditional betting sites. Wagering on betting exchanges is made by two types of players. Those who place ‘Back’ bets, selecting and staking on a result, and those who place ‘Lay’ bets, betting against the outcome.
In this guide, we will talk about all sports betting exchange software, including features, advantages, cost, development process, and so on.
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Unlike traditional sports betting platforms, sports betting exchange software allows bettors to bet against each other rather than against bookmakers. This peer-to-peer setup provides lower fees and better odds. In a betting exchange, you can bet on virtually anything as long as someone else is willing to bet on the other side.
Sports betting platforms often don’t offer the bet you’re looking for because it is too risky. Sports betting platforms offer a wide range of bets with better odds and more value.
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A robust sports betting exchange platform offers many features for accessibility and user engagement. Here is a list of some essential features in a betting exchange software:
| Features | Description |
| Cash Out | Punters have the ability to cash out their bets during the match. A calculator is also available to determine the value of wagers. |
| Live Streaming | The live streaming feature allows users to watch the match and place bets simultaneously. It allows users to make quick and informed decisions and also boosts user engagement. |
| Back & Lay Odds | The betting exchange platform must provide back and lay odds. A bettor must be free to choose whether they want to back or lay a specific outcome. |
| Betting History | This feature allows bettors to see and review their past bets. A detailed report of every bet the user has placed is available here. |
| Multilingual Support | Sports betting exchange software attracts audiences from several regions. You must provide multiple language options so the user can access the platforms in their preferred language. |
| Matching Engine | An integrated matching engine will ensure the appropriate matching of odds and bets. |
| Safe and Secure Payment Gateways | Payment gateways are essential to online betting exchange software. A secure payment gateway will help protect the user’s financial information and also provide multiple payment options. |
| Cryptocurrency Support | The online betting exchange software must have integrated cryptocurrency support. Crypto is becoming mainstream, with more people turning to it for online sports betting platforms. |
| Advanced Admin Dashboard | An advanced admin dashboard will aid in the seamless management and tracking of users, transactions, bets, and odds, along with other various aspects of the betting exchange script. |
Read More:- How to Create Betting Sites Like Bovada : An Ultimate Guide
Sports betting exchange software offers numerous benefits over traditional sports betting apps. Key advantages of an online betting exchange platform are:
Betting exchange platforms are user-friendly. Since there are no sportsbooks to take a large portion of the cut, players get maximum value and earn better profits with a Sportsbook software provider.
In traditional sportsbooks, you can only bet against the sportsbook and at predetermined odds by the Sports bookies. However, that is not the case with betting exchange software. The users can bet on either back or lay odds depending upon their preference. Betting exchanges are a two-way market.
Unlike sportsbook software, which only offers bets according to their preference. The bettors can bet on virtually anything as long as there is another person to take the other side of the action.
Online betting exchange platforms provide better odds than most traditional sports betting software. Since there are no bookies involved and players bet against each other, the betting odds are way better and punters can earn huge profits.
Popular fantasy sports games like cricket, football, basketball, hockey, etc. are commonly preferred in gambling. Select a niche sport that appeals to your target audience and promises maximum ROI. However, if you want to attract a wider audience, include multiple sports in your betting exchange source code.
It is One of the most important steps in the development process. Conduct thorough market research to identify your competitors’ strengths and weaknesses. Proper research also reveals industry trends and audience preferences that help you identify your and the regions where certain sports are most popular.
If you want to build a unique betting exchange platform, you will need a reliable betting exchange software development service. By looking into various aspects like experience, testimonials, cost, and the portfolio of the company, you can make an informed choice. Make sure the company is equipped with all the tools that will help fulfill your requirements.
The choice of the betting exchange developer will also depend on whether you want a customised or white-label betting exchange software solution. It can be a challenging task due to the variety of options available but these factors will help you make an informed choice.
Read More:- Important Requirements To Create A Sports Betting Website Like Bovada
You might have hired the best software development company that will take care of the designing and development aspects, but you still need to pay close attention to the workflow and details of the process. A complicated design will discourage the users, so make sure the user interface is simple yet attractive.
In the development process, make sure all the necessary features are incorporated into your application.
After the development process is complete, your betting exchange software is ready for testing. Testing is essential to iron out the loose ends and refine the product to the extreme. Make sure to conduct all functional and non-functional tests like performance, design, compatibility, etc.
Once the testing phase is complete, your software is ready to be launched in the market. Deploy reliable marketing strategies and launch your software to the public.
The cost of sports betting exchange platforms depends on various factors including features, geographical location, development company, technology stack, and cross-platform compatibility..
The region of the game development team also plays a huge role in determining the cost.
On average, the approximate development cost of a betting exchange platform with basic features ranges from $30,000-$50,0000. However, if you want to develop cross-platform software with advanced functionalities, the price can shoot up to $80,000.
These are some of the most popular sports betting exchange software providers in the market today.
BR Softech is a leading sports betting exchange software development company with over 10 years of experience. We offer customized and white-label betting exchange software solutions to our clients. We have a full-fledged development team of expert developers who strive to deliver quality betting exchange software solutions to clients. BR Softech has a vast portfolio with proven experience in developing software of similar niches. If you’re looking for a betting exchange software development company, BR Softech is your best bet.
It is one of the leading betting exchange software providers in India. Betfoc offers bug-free solutions and on-demand customized software with a quick turnaround time. Betfoc’s primary objective is to build a robust and safe betting exchange platform that can help businesses generate higher revenues. It also offers a feature-packed white-label solution that can help your business scale higher. Betfoc also strives to provide 24×7 customer support to its clients to solve their queries and ensure maximum client satisfaction.
It is a relative newcomer in the betting exchange industry. Gaming Geeks has made a name for itself through its innovative and secure betting exchange software. Gaming Geeks focuses on interactive and easy-to-use UI to generate a massive audience. It provides cryptocurrency support and has a reliable back-end management team. Gaming Geeks provides a robust risk-management module with innovative UI designs.
SwissBet provides white-label and turnkey betting exchange software solutions. The features provided by Swissbet incorporate advanced features that drive user experience. It uses Betfair API for reliable sports data and management tools. The cutting-edge technology used by Swissbet will help you attract a loyal customer base and help scale your software.
It is a widely acclaimed software development company with over 10 years of industry experience. It was one of the first development companies to incorporate cryptocurrency support in its software solutions. SoftSwiss has been thriving in the market for a decade by focusing on security, stability, and scalability. With a large development team of experienced developers, SoftSwiss has a vast portfolio of online casino platforms and betting exchange software.
BR Softech is a leading betting exchange development company with over 10 years of experience in the industry. We offer reliable betting exchange development solutions and our developers strive to deliver quality products by keeping our client’s requirements in mind. We offer customized and white-label betting exchange solutions. Our developers are experienced and well-versed in the latest technologies. We offer reliable services like:
Sports betting exchange platforms offer a lot of additional benefits than sports betting platforms. These platforms provide better odds and more value to the customers. The users also don’t have any bet limitations. Betting exchange software is easy to deploy and provides higher scalability. Overall, the sports betting exchange platform provides users with a lot of benefits and provides higher chances of winning a hefty amount.
We cover all major sports in the betting exchange platform. Popular sports like cricket, basketball, hockey, baseball, football, horse racing, and more are included in our platform.
Yes, we provide white-label as well as customized betting exchange solutions to our clients.
Our sports betting exchange software offers all advanced features like live chat, back and lay odds, crypto support, etc. and also includes live streaming.
Yes, betting exchanges which use Indian rupees and are based outside of India are legal to use by the Indian audience.
