The value and demand for mobile application development services have skyrocketed to an all-time since the pandemic. Out of this trend, sports betting apps emerge with very lucrative potential and are driving innovation and growth in the online gambling market.
By taking a look at the mobile sports betting app development solution, we see that many sportsbook owners are considering tapping into the app’s benefits. But a common question arises: “How much does it cost to develop a sports betting app?”
We find the above question very interesting, with many people interested in finding out what the best answer is. This includes you, our reader. To this end, this blog takes significance and delves into the intricacies of sports betting app development pricing.
We design the blog with a structure that offers a comprehensive analysis of the factors that influence costs. It also offers great insights and invaluable information to help you navigate betting app development processes to manage costs.
Understanding Sports Betting App Development Pricing
There are several top betting apps for users around the world and these applications have different development costs. For example, the cost to build a sports betting app like FanDuel can vary significantly from those of others.
The variation in pricing is based on several factors that impact how much to develop a betting app. Let us explore the key factors.
Factors Influencing the Cost of Sports Betting App Development
- Complexity of Features:
There are betting apps with simple and basic features and there are others with advanced complex features. The features are added based on the requirements of the sportsbook operators.
When betting apps have simple features, their prices are lower, but when they have complex features, they become very expensive to build.
Advanced functionalities include features like live or in-play betting, real-time odds updates, and personalized user experiences that can significantly impact the overall price.
- Different Platform (iOS, Android, Web):
Whatever platform that you intend to create your own sports betting on will require skilled developers.
So, it must impact the cost. However, developing for multiple platforms increases costs just as it expands the app’s potential.
Whatever platform development that will require the deployment of more skilled developers and resources will always attract higher costs.
- Design and User Experience:
Sports betting app design that comes with a sleek UI can attract, engage and retain users. Any betting app with such UI is utilising high-quality design work which will impact the overall development costs.
- Integration of Payment Gateways:
In sports betting apps, the integration of payment options is very crucial. They also have to be secure to users. Users require their financial transactions and financial details on the app to be safe and protected from any unauthorised access.
Users will also require different payment processing options as trustworthy payment alternatives. Integrating all of these in compliance with financial regulations adds to the development expenses.
Sports Betting App Development Cost: The Impact of Processes
Aside from the features, functionalities and other factors mentioned in the previous section, sports betting app development also goes through some processes.
These processes are important to strategically build the best betting app for users. Do they also impact the development cost? Very well.
Let us see why and how, shall we.?
Research and Planning Impacts Sports Betting App Development Cost
This is a very important part of creating betting apps. It is very useful before the developers start writing any code. The development team need to do some research, which will require other team members and proper planning.
This process includes performing market analysis to gain an understanding of the top competitors. It also includes knowing the type of audience and how to tailor the app services to them.
Also, this stage includes the definition of all needed features and functionalities. All the features that will make your app stand out are also considered.
Everything here requires the input of expert researchers and project managers which will add up to the cost of development.
Design and Development Shoot Up the Betting App Development Costs
This is another strategic development process. It is the most technical stage and requires the most work. All the developers and designers of the project come together at this point to build the best betting app.
Betting App UI Design
From the betting app designers, the outlook of the app is created. It contains all the required features and functionalities.
The design takes its shape from the findings and insights of the research. It is handled by expert UI designers who dedicate their time to creating an attractive and user-friendly interface.
Front End and Back End Development
After completing the design, it is passed to the development team to develop the front end and back end of the betting app.
Backend development includes building the server-side infrastructure for data processing, user management, and betting operations.
The front development does more of bringing the visual designs to life for the best user interactions.
Testing and Quality Assurance
This closely follows the front-end and back-end development of the betting app. At this point, there is a solid development. There is an app with accessibility features and many functionalities that reflect its design.
However, it needs to go through thorough testing for security, vulnerability and other weaknesses. The purpose of testing the sports betting app is to ensure that it functions correctly and on various or targeted devices.
The impact of the sports betting app design and development on the cost is usually very high. It can take up to 70% of the budget.
The Deployment and Maintenance of Sports Betting Apps
When you consider your sports betting app development pricing, do not get carried away by only the development aspect.
The deployment and post-maintenance stages are also very crucial to consider. So, add up these too in your budget.
The deployment phase begins with an App Store or Google Play Store submission for users to easily find and download the app. After this, there is a need for regular updates to fix bugs, and increase features and other technical assistance for better performance.
All of these will form part of the considerations by the betting app development company and will impact the pricing.
Estimated Cost of Building a Sports Betting App
While it’s challenging to provide an exact figure without knowing the specific requirements, we can offer a general breakdown of the costs involved:
Development Team The bulk of your budget will go towards hiring skilled professionals:
- Project Management Expert: You will always need a professional project manager to oversee the entire development process. The project person should lead the whole software development lifecycle and coordinate everyone on the team towards achieving a common goal. The cost of hiring may be up to 45-60/hour at its low and up to $100 – $200/hour
- Pricing for the UI/UX Designers: depending on the betting app’s complexity, it may cost from 2,000 – $15,000 to fully design all the visual elements and user experience of the app.
- The Cost for Hiring Developers: It may cost about $8000 to $15,000 to build the features and all the functionalities of the app. This goes for both the front end and back end.
- Deployment to App Store and Google Play Store: Users need to be directed to a safe place to easily access and download the app. Depending on the complexities surrounding this, it can cost from $500 – $2,000
- Testing and Quality Assurance: This is a very important part of building and launching a successful app. It checks for flaws, bugs and other threats to the business and should be done regularly. Hiring testers and QA experts may cost $2,000 – $7,000.
Get a free quote from our smart cost calculator now.
Additional Influencing Cost Factors
As an expert in this field, we can tell you for sure that additional costs usually come up. The leading mobile app development companies’ estimated costs are beyond design, development, testing, and deployment.
Additional costs for building betting apps come from the cost of licensing and legal compliance fees can be from $10,000 to $70,000 depending on the dynamics on the ground. Pricing for marketing and promotion is $3,000 – $10,000 and ongoing maintenance and support ($1,000 – $10,000).
Therefore, the estimated cost of leading mobile app development companies can range from $26,500 – $129,000. The price can be lower or higher, depending on several dynamics and negotiation skills.
Check the cost of building a sports betting exchange app.
Tips for Managing Sports Betting App Development Costs
We know right, the previous section includes some high amounts for building your ideal sports betting app. All though it cannot be too high for an app that guarantees you a return on investment, just in case it upsets your pocket and budget, you can manage the cost.
By managing the cost of betting app development, we mean to keep things in check and make it favourable to you. It, however, does not require you to compromise on quality, including the app’s security, usability and performance.
So, what do you do exactly to keep the pricing low and pocket-friendly enough?
Prioritize Your Sport Betting App Features to Reduce Development Cost
From your research, you must know the essential ones; these are the must-have features and the nice-to-have features.
One way to get this right is to focus on your required core functionalities. You can always add the nice-ti-have features as your sportsbook business expands.
Iterative Development Approach to Manage Development Cost
Do not just rush into launching the sports betting app with all the features and functionalities. Begin with the minimum viable product – with the very basic features and functionalities and study how users receive and interact with the app.
Gather all the important user feedback to guide future development and additional features to the app. This will save you a lot of costs because you will not spend money on irrelevant features and functionalities.
Choose the Right Development Partner to Reduce Development Cost
You can also manage your sports betting app development cost by working with the ideal betting app development company. This helps because it gives you confidence and assurance of getting the best. You will also be able to access their track records and enjoy excellent communication.
So, from the beginning, they will give you clear estimates of cost, development timelines and expectations throughout the project.
Conclusion
Looking at the cost of building a sports betting app, you will agree that it is a significant investment but you need to be very careful. You also need to ensure that you use the right approaches to get the best results. Plan well and go for a highly rewarding app feature and functionalities.
And what about your budget? This should not be a thug of war once you understand the factors that influence sports betting app development pricing. What you need to do is know how to follow strategic development processes and negotiate a fair pricing model.
But most time, the initial sports betting app development cost may seem high or rather too high for you, if you get the designs, the features and functionalities as you should, you will get substantial returns.
Do you need the best pricing model cost to build a sports betting app? Get in touch with us now to enjoy some discounts.
