As far as there are some factors involved, the timeframe to launch a sports betting exchange app may differ, depending on the app development team, the complexities of the app, the regulatory standards and landscape, and key integrations.
According to Apurple, it is estimated that the development timeline for a betting exchange app is about 3-6 months (straightforward features), while the feature-rich sports betting exchange app development may take up to 6-12 months.
Why Does a Swift Sports Betting Exchange App Launch Matter?
The sports betting landscape is constantly evolving and competition has become tougher for exchanges. A speedy launch places betting exchange apps in several positions of advantage in the market in the following ways:
Capture Early Adopters and Gain a Market Share:
When you quickly launch your betting app, you easily achieve early users and access part of the market share.
Having early adopters help provide useful feedbacks that position you for success. with an early launch, you can also, easily transform early adopters into loyal customers.
Stay Ahead of Sports Betting Exchange Trends and Opportunities:
There is a constant evolution in the sports betting industry – so much to catch up with that only the most responsive to change get to benefit from the advantages that such changes come with.
For example, when you swiftly launch your betting app, you have a chance to create new features that suit the market demands. This will help you to capitalise on the opportunities available in the betting market.
Minimize Development Costs:
The cost of sports betting apps tends to increase with the development lifecycle. The longer the more the bills and resources deployed. Also, when you quickly launch your app, you may begin to even start generating some revenue for your business. You may go for the alternative solution white label betting app solution. See how much it cost.
While we tend to advocate for a reduced timeframe to launch a sports betting exchange app, we encourage you to be conscious of quality and security. Do not compromise them for a quick launch as it will only cause you more harm than good. To have a balance, ensure to;
- Prioritise the security of the sports betting exchange app
- Ensure to perform all the necessary tests and always test early and at post-launch stages
- Embrace agile development for rapid iteration and flexibility
- Feel free to consult with experts and leverage APIs and third-party integrations
- Hire an expertise sports betting exchange app development company for your projects
See our white label sports betting app development blog for faster launch.
How Long Does it Take to Build a P2P Betting Platform?
App development happens in these three phases:
First Phase: Laying the Foundation for developing the Exchange App (1 to 2 Months)
There are three crucial things to observe in this development stage;
· Define your app’s features and functionalities
In betting exchanges, some unique features must be present. These are the features that make them stand out from traditional betting apps. Examples may include; back/lay betting options, enhanced odds, live in-play betting, stats, etc.
·Craft a user-friendly and intuitive UI/UX design
While your app features and functionalities are crucial, back it up with a visually appealing but easy-to-use UI/UX design. It makes things easier for users and boosts user engagement, including loyalty.
·Develop the backend infrastructure and database
Creating enhanced backend features of your betting exchange app is essential to the success of the app. Especially, in terms of data generation, analysis and even security.
Second Phase: Bringing the Exchange App to Life (1 to 2 Months)
Bringing your betting exchange to life goes beyond the first phase. So here are the next things to bring your dream to reality;
·Integrate secure payment gateways
Having built the front end and back end of your betting exchange app, you need to include or integrate payment gateways. Every payment gateway must be secure and trustworthy for the best results.
·Build the core matching engine, the heart of your exchange
This must be at the centre of your betting exchange app. The matching engine is very important for trades and exchanges on different levels.
·Conduct thorough user testing and refine the platform based on feedback
After you add the matching engine, ensure to properly test the exchange app. Include functional and non-functional testing practices for best results. You may also implement both manual and automated testing so as not to miss out on critical weaknesses and vulnerabilities.
Third Phase: Gearing Up for Launch (1 to 3 Months)
As you get set for launch, you need to run the last lap. Here are the three important things to do for a proper launch;
·Ensure compliance with relevant regulations and obtain necessary licenses
Where do you want to launch your mobile app betting exchange platform? What are their gambling laws and regulation requirements? Know these and be sure to meet all criteria. This will save you from legal implications that will negatively impact operations.
·Develop a marketing strategy to attract users and build brand awareness
You will also need a marketing strategy because your product needs to get to the right users at the right time. We encourage you to hire professionals and implement marketing tools for the best outcomes.
·Conduct rigorous pre-launch testing to eliminate bugs and optimize performance
We cannot stress the place of testing and retesting while launching your betting app. Do this to identify and fix issues, including those identified and those yet to occur.
Note that some of these phases or processes may face some delaying challenges which would impact the initial set timeframe to launch a sports betting exchange app. For example, you may be working on an exchange app with more complex features and functions. This may take a longer time to achieve
Factors Affecting Time To Market For Sports Betting Apps?
When answering the question, how long does it take to build a P2P betting platform? You need to also consider all the factors that can impact the development timeline.
These are mainly;
·The Complexity of the app: Apps with more features and functionalities will generally take longer to develop than simpler apps.
·Level of Expertise of the development team: A team with experience in developing sports betting apps will likely be able to launch an app more quickly than a team without this experience.
· Important Regulatory landscape: Depending on the location, regulations and licensing requirements can add time to the development process.
·Third-party integrations: If the app integrates with other services, such as payment processors or data providers, this can add complexity and time to development.
It is very crucial to get full understanding of these factors as they can greatly impact the timeframe to launch a sports betting exchange app.
Strategies for Faster Timeframe to Launch a Sports Betting Exchange App
Here’s how you can accelerate your development timeline for a betting exchange app;
- Prioritize Core Features: Do not overload your betting exchange with every enticing feature and functionality. You can begin only the most important ones and then add more as your users grow.
- Embrace Agile Development: This is a project management methodology that is common among mobile app developers. It helps in easy adaptation and iteration.
- Leverage Existing Solutions: there is no need to build everything from scratch if there are some ready-made tools to integrate. For example, you can take advantage of utilizing pre-built APIs and integrations. This helps to save development time.
- Partner with Experienced Developers: Ensure to work with an experienced betting exchange app team of developers. People who have handled similar projects in the past can expedite the process.
Conclusion
We have said that the timeframe to launch a sports betting exchange app is between 3 to 6 months for a not-so-complex app and 6 to 12 months for complex apps. However, there are other helpful ways to cut corners on factors affecting time to market for sports betting apps.
Ready to launch your betting exchange app with the shortest time to market? Let’s discuss now.
