Sports Betting App Development Like Unibet- Cost and Features

There is an immense surge in the popularity of sports betting app like Unibet, largely powered by technology and the growing acceptance of online gambling. Public interest is driven by the thrill of real-time betting and the convenience of placing wagers from anywhere. This dynamic shift not only caters to the excitement of the game but also fosters a sense of community among bettors, making these apps more appealing than ever.

The market valuation of sports betting apps projects the global online gambling market to exceed $127 billion by 2027. This rapid growth reflects the increasing legalization of sports betting in various regions, along with the rising popularity of esports and fantasy sports. This blog aims to guide you through the essential steps in creating a successful sports betting app, focusing on critical technical aspects and compliance with legal regulations.

Overview of the Sports Betting App Unibet

Unibet has earned a solid reputation as a trusted and versatile sports betting platform. Unibet appeals to both casual bettors and seasoned punters. Whether you prefer betting on mainstream sports or niche events, Unibet provides plenty of options, all within a well-designed interface that makes betting easy on the go. Let’s explore some of the key features that make the Unibet app stand out in the crowded world of sports betting.

Diverse Sports Markets

Unibet covers a vast range of sports, including popular events like football, basketball, and tennis, as well as lesser-known sports like darts, cycling, and eSports. Users can bet on domestic leagues, international tournaments, and even live events happening in real time. 

Live Betting and Streaming Services

With a live betting option, users can place bets as the action unfolds, allowing them to react to the momentum of a game in real-time. To complement this, Unibet offers live streaming on selected events, meaning you can watch the game directly through the app while making your bets. 

Competitive Odds and Bet Boosts

Unibet strives to offer competitive odds across all sports markets, ensuring that users get good value for their bets. Additionally, the platform frequently offers odds boosts and special promotions, which increase the potential payout on selected events or bets. These features give users an edge when betting, adding excitement and maximizing potential rewards.

Cash-Out Option for Risk Management

The cash-out feature allows bettors to take control of their wagers before an event concludes. Whether your bet is winning and you want to secure a profit, or things aren’t going as planned, and you want to minimize losses, the cash-out function gives you flexibility. With partial and full cash-out options, users can decide how much of their bet they want to settle.

Responsible Gambling Tools

Unibet takes responsible gambling seriously, offering a range of tools to help users manage their betting habits. These include deposit limits, betting restrictions, and self-exclusion options, ensuring that users maintain control over their gambling activities.

Key Market Takeaways of Sports Betting Apps

The sports betting industry worldwide generated around $83.65 billion in 2022, with expectations of a 10.3% CAGR from 2023 through 2030. Regulatory changes in the gambling industry are driving this rising demand, the widespread adoption of connected devices, and improvements in digital infrastructure.

Source: GrandViewResearch

The COVID-19 pandemic brought significant disruptions to the global sports industry with restrictions on live events. Yet, during this period, online sports betting experienced a notable increase in popularity, driven by a growing interest in eSports and other online betting options. Additionally, the widespread use of smartphones made sports betting more accessible, which, in turn, boosted the market. According to a survey conducted by Uplatform, a sports betting and casino operator, about 70% of online betting revenue in 2020 came from mobile devices.

Leading companies in the sports betting industry concentrate on creating interactive websites and offering special promotions to maintain a competitive advantage. They are increasingly incorporating technologies like APIs to improve functionality and deliver a more user-friendly experience. Additionally, many of these companies are partnering with others to enhance their products and explore new revenue opportunities.

Are Sports Betting Apps Like Unibet Profitable?

With their ability to tap into multiple revenue streams, Sports betting apps like Unibet are highly profitable ventures. These include betting margins, transaction fees, premium memberships, and in-app advertisements. The core feature of such platforms is their dynamic odds and in-play betting options, which allow users to place bets in real-time during live events—driving engagement and increasing the frequency of transactions. Additionally, these apps offer micro-betting (bets on smaller, in-game moments), loyalty programs, and VIP memberships that encourage user retention and enhance lifetime value. By integrating varied sports markets, including traditional sports, esports, and virtual sports, platforms broaden their audience, increasing opportunities for betting volume and profits.

Entrepreneurs launching a sports betting platform can capitalize on the growing global demand driven by the legalization of online gambling in multiple regions. Platforms that partner with sports leagues, media outlets, and affiliate networks gain visibility and attract high-value customers at lower acquisition costs. Incorporating crypto payments enables faster, cross-border transactions, expanding the user base beyond geographical limits. Cloud-based infrastructure ensures scalability, allowing the platform to grow without significant operational overhead. By prioritizing user experience, advanced analytics, and compliance with gambling regulations, businesses can build trustworthy, engaging platforms that generate sustainable, long-term profits.

Popular Sports Betting Apps

BetMGM, a joint venture between MGM Resorts and Entain, has also seen substantial growth, with revenues exceeding $1 billion in 2023. BetMGM capitalizes on its strong brand recognition and strategic partnerships, leveraging the extensive network of MGM properties to attract customers.

Bet365 has established itself as a leader in the online gambling space. As of 2023, Bet365 reported impressive revenues, generating approximately $4 billion in total betting revenue.

Business Model of Sports Betting App Unibet

Unibet operates on a multi-product business model designed to cater to a wide audience across both sports betting and online gaming. Let’s look at the diversified approach, which ensures multiple revenue streams, balancing the seasonal fluctuations of sports events with year-round casino activities. 

1. Revenue Streams and Betting Options

Unibet generates revenue primarily through sports bets and in-play betting, which allow users to place wagers during live events. The platform also offers same-game parlays called Same Game Combos, which increase user engagement by enabling multi-leg bets within a single game. Beyond sports, the company earns additional revenue through its online casino, offering slots, table games, and poker rooms.

2. Customer Acquisition and Promotions

Unibet attracts users with introductory offers and ongoing promotions, such as odds boosts and cashback bonuses. These promotions not only incentivize users to sign up but also encourage them to engage consistently. The platform has also built strong partnerships with sports teams, enhancing its brand visibility and trust, particularly in Europe and formerly in the U.S. markets.

3. Market Coverage and Local Adaptation

Unibet focuses on tailoring its offerings to different regions, including sports and leagues that are popular in local markets. For instance, in Europe, soccer is a major focus, while North American users benefit from access to NFL, NHL, and NBA markets.  This localization strategy boosts customer acquisition and retention by making the platform relevant to different audiences worldwide.

Steps for Sports Betting App Development like Unibet

Building a sports betting app requires thoughtful planning, technical precision, and strict compliance with regulations. Below is a detailed guide to the key steps and considerations for development.

Step 1. Understanding Requirements

Identify the needs and preferences of your users to ensure the platform offers relevant and engaging features. Determine the appropriate types of bets to include, such as pre-match bets, in-play betting, futures, or same-game parlays. Focus on what makes the platform unique by integrating features like exclusive promotions, personalized tools, and superior odds management.

Step 2. Ensuring Compliance with Regulatory Standards

Research the legal requirements and regulations governing online sports betting in your target regions. Secure the necessary licenses and permits to operate legally and ensure the platform complies with data protection frameworks, such as GDPR in Europe or state-specific laws in the U.S.

Step 3. Assessing Technical Feasibility

Evaluate existing infrastructure to identify gaps and ensure real-time updates, secure transactions, and low-latency operations. Plan for scalability so the app can handle increased traffic during major sports events, such as the World Cup or Super Bowl, without performance issues. Scalability ensures long-term success and reliability in high-demand scenarios.

Step 4. Selecting the Right Tech Stack

Selecting the right tech stack as it determines the app’s performance, scalability, and overall user experience. Use React Native or Flutter to create a seamless, cross-platform interface. Implement Node.js or Python (Django/Flask) for efficient server-side operations. Choose MongoDB or PostgreSQL to manage data related to users, bets, and transactions. Host the platform on AWS, Azure, or Google Cloud to ensure uptime and scalability during peak betting hours

Step 5. Implementing Security and Fraud Prevention

Ensure strong encryption algorithms protect user data from breaches. Use MFA to secure accounts and prevent unauthorized access. Employ fraud detection tools powered by AI to monitor transactions and block suspicious activities in real-time. Adhering to PCI-DSS standards ensures secure payment processing.

Step 6. Following Agile Development 

Use agile development methodologies like Scrum or Kanban for flexibility and faster iteration. Conduct comprehensive unit, integration, and system testing to ensure the app is bug-free and performs well. Implement UAT to validate features from the end-user perspective.

Step 7. Deployment and Post-Launch Monitoring

Deploy the platform on a reliable cloud infrastructure that supports real-time scaling. Monitor key performance indicators such as ARPU and user retention to gauge success.

Cost of Developing A Sports Betting App Like Unibet

Total Cost Estimate                                                                           $10,000 – $100,000

Here are some factors that impact the cost of developing a sports betting app

Live Streaming and In-Play Betting Features

Live streaming of sports events and in-play betting options enhance user engagement but require high bandwidth and real-time updates. Integrating live streaming services, maintaining servers for smooth streaming, and developing in-play betting systems can add significant costs due to the technical requirements.

Third-Party Service Agreements

Sports betting apps often rely on external providers for essential functions like odds, data feeds, payment services, and identity verification. Long-term agreements or monthly subscription fees for these services add to the operating costs, making budgeting for these partnerships crucial.

Geo-Location Services

To comply with legal requirements, sports betting apps often need to verify the user’s location to ensure they are betting from a region where the activity is permitted. Integrating geo-fencing technology to restrict access based on location adds to development complexity, particularly if the app is intended for use across multiple regions with varying regulations.

Regulatory Compliance and Licensing

Each country or region has its own regulations for online gambling and sports betting. Complying with these regulations, obtaining licenses, and ensuring that the app meets local legal standards can be costly and time-consuming. Costs will vary depending on the complexity of the licensing process and the jurisdiction’s fees.

Conclusion

I firmly believe that creating a sports betting app akin to Unibet presents an exciting opportunity for entrepreneurs aiming to enter a lucrative industry. By integrating essential features such as intuitive navigation, diverse betting options, advanced analytics, and personalized user experiences, your app can captivate a broad audience. While the development costs can be high on the desired functionality, this investment is well worth it as more sports enthusiasts turn to mobile platforms for their betting needs. The focus should be on collaborating with skilled developers and ensuring a secure, scalable solution that adheres to industry regulations, ultimately delivering a standout experience that keeps users engaged and coming back for more.

How Can Idea Usher Help?

At Idea Usher, we become your partner in growth. With over 500,000 hours of coding experience, we have the technical expertise and passion to help you develop a robust sports betting platform like Unibet that fits your vision. Whether it’s incorporating in-play betting, personalized recommendations, or ensuring seamless scalability, we take a hands-on approach to bring your ideas to life. 

Our mission is to help your business thrive by combining cutting-edge technology with user-centric design, ensuring your app not only stands out in the market but also drives long-term success. Join us to work together and turn your ideas into a game-changing reality!

If you’re interested in making an app that stands out, you can check out our services page!

FAQs

How do I ensure compliance with gambling regulations?

Compliance involves obtaining the necessary licenses for the jurisdictions where you plan to operate, adhering to local laws regarding online gambling, and implementing responsible gaming measures.

What is the estimated timeline for developing a sports betting app?

The development timeline can range from 3 to 9 months, depending on the complexity of the app, the number of features, and the necessary integrations.

How can I make my sports betting app stand out in a competitive market?

To differentiate your app, focus on user experience and offer unique features such as personalized recommendations, in-play betting options, and promotional bonuses to engage users effectively.

What are the ongoing maintenance and support costs for a sports betting app?

Ongoing costs can include server hosting, regular updates, customer support, and compliance monitoring, which can range from 10% to 20% of the initial development cost annually.