Whether you’re a seasoned operator or new to the field, understanding the different sportsbook software types is crucial for the success of your business. There are different types of sportsbook software solutions available on the market. Each of them caters to various needs, ensuring that you, as an operator, can provide a seamless and best experience to your users.
From the versatility of white label sportsbook to newly emerged crypto sportsbook solutions and sportsbook APIs, our article delves into the specifics of each option. We’ll look over all five primary types of sportsbook software, explaining their features, benefits, and differences. So, keep reading to uncover which online sportsbook will work best for you.
Since you are interested in starting a sportsbook business, we also recommend you to check out our comprehensive article about How to start a sportsbook.
White label sportsbook
We begin with one of the most frequent and widely used types of sportsbooks. A white label sportsbook is a pre-made, ready-to-launch product that gives you access to the gaming platform with sportsbook software.
As you can see, it’s not only about sportsbook software; you also get a whole range of subsystems and tools you need to run and operate your betting business. So, there won’t be a necessity to compile everything independently. It provides a comprehensive system with every part of it set to action.
Here’s the complete list of options you’ll receive by acquiring a white label sportsbook:
- Sportsbook Software
- iGaming platform
- Back office
- Payment System
- Licensing
- Sportsbook risk management tools
- Bonus system
- Affiliate system
Since it’s a ready-made product with the whole platform, it has multiple advantages. Specifically, the pros of white label sportsbook types include the following:
- Rapid Setup: having the ready-made platform gives you the advantage of a quick launch. That means instead of waiting for six months, you’ll get your product and launch it on the market in just 2-3 months.
- Cost-Effective: It’s a budget-friendly approach compared to other types of sportsbooks with platforms. It’s also more efficient than self-service solutions, which imply building a platform from scratch. Typically, the costs for white label sportsbooks range from $ 20 000 to $ 50 000, depending on the quality of the software and platform.
- Licensing Included: Most white label solutions have a license, ensuring regulatory compliance. Thus, a white label is a perfect sportsbook type for you if you want to launch a sports betting business but don’t have a license.
- Customization: While it’s an off-the-shelf product, providers often allow for some level of customization to cater to your specific needs. For instance, you might need to incorporate some extra tools, make changes to the design, etc. Providers should also offer such additional features and embellishments.
Sportsbook software should be equipped with various types of wagers, multiple betting markets, and sports events (pre-match and live). White label sportsbook is the type of sportsbook software that enables you to acquire such a high-quality product and launch it directly. If you want to read more about this theme, we recommend checking out an article about How to start sportsbook with white label solution in 2023.
But, if you are looking for an extensive range of customizations and want to build a platform according to your specific needs and wishes, there are other types of sportsbook software that you should also look at.
Turnkey Sportsbook
Turnkey sportsbook is also one of the most widely used and well-known types of sportsbook software you’ll encounter on the iGaming market. While the white label solution offers a rapid setup, the turnkey solution provides a middle ground between a Self-service (building everything on your own with your resources) and a white label sportsbook types. It’s more customizable and gives you on-demand content and a unique design.
In fact, the turnkey sportsbook and white label sportsbook from the specific provider have identical sportsbooks. So, the sportsbook software that you’ll get in case of opting for the turnkey is the same. The real difference between these types of sportsbooks lies within the platforms.
The turnkey solution provides a platform that is built according to your preferences. It means you are telling the sportsbook provider how you want to modify your platform, what tools and features you want to include, what design you prefer, etc. Everything is done according to your preferences.
However, turnkey sportsbooks do not include payments and licenses. So, you need to make sure that you have already taken care of these aspects, and what you need is just to build a sports betting platform. Moreover, a turnkey sportsbook might take longer to launch, depending on how many changes you want to make and how much you want it to be customized. The time to launch might range from 3 to 6 months. If you are interested in this sportsbook type, you should check our article about How to start a sportsbook with turnkey solution.
To recap, the key differences between White Label and Turnkey Solutions are:
- Customization: Turnkey sportsbook types are fully customizable, while white label solutions offer limited customization.
- Setup Time: White label solutions can be launched quickly, while turnkey solutions might take longer due to multiple customization options involved.
- Cost: Turnkey solutions might be more expensive due to the unique design and content.
- License and payments: The turnkey solution does not incorporate license and payment systems.
For more detailed information read the article White Label Sportsbook VS Turnkey Sportsbook. Thus, if you have the license, can provide a payment system, and want to make your platform customized according to your requirements, turnkey sportsbook is one of the most suitable types of sportsbook software that you can acquire in the market.
Crypto sportsbook
Crypto sportsbooks have gained popularity with the rise of cryptocurrencies. It’s one of the most recent types of sportsbook software that provides you with a sportsbook and a crypto-friendly platform.
To cut it short, it gives you full access to the payment system, enriched with multiple types of crypto payments. Crypto sportsbook encompasses every major digital currency you’ve known and possibly even more. Starting from Bitcoin and including others like Ethereum, Tether, Bitcoin Cash, Ripple, Litecoin, etc.
So, what you’ll have with this type of sportsbook is the software with the modern iGaming platform, subsystems, and management tools. These tools include Back office, bonuses, sportsbook risk management, etc. On top of that, you have the payment system polished with multiple cryptocurrencies.
This is one of the most secure and safest types of sportsbooks when it comes to payments and faster transactions. Since crypto deposits and withdrawals are anonymous, you avoid putting strict KYC policies on your customers. They can deposit and bet on your platform, and withdraw funds easily. By acquiring a crypto sportsbook, you and your clients get faster processing times with no limits on deposits and withdrawals.
Sportsbook API
Another type of sportsbook software that you may use if you already have a platform is Sportsbook API. It’s a simple, innovative tool that helps you integrate the sportsbook into your platform. It acts as a bridge between the provider’s sportsbook and your igaming platform, ensuring real-time updates and precision in information.
Sportsbook API differs from the other types of sportsbooks, considering that it only gives you sports betting software with a back office, but no platform. Thus, if you already have a platform and want to acquire a sportsbook, the sportsbook API is the type that you need. By getting an API, you can access the diverse betting markets and multiple live and pre-match events. Moreover, you’ll also acquire various types of sports (including football, basketball, horse racing, etc.) and everything that comes with a provider’s sportsbook software.
Due to its simplicity, Sportsbook API has multiple advantages. It has a low cost, and provides the fastest integration.
For instance, if you opt for Upgaming’s sportsbook API, the integration will be finished in just two weeks. Other providers may offer slightly different time ranges, but in the worst-case scenario, it will take three weeks.
So, again, to recap, the advantages the Sportsbook API brings are the following:
- Speed and Cost: It allows rapid integration without a complete platform overhaul and requires low costs.
- Efficiency and real-time data provision: It automates the process of sourcing and updating sports data. Live updates on odds, scores, wins or losses, and other relevant information will be instantly depicted.
- Scalability: It can handle growth efficiently, ensuring a seamless experience on the bettors’ side without glitches and errors.
Odds API
An Odds API is an application programming interface that provides real-time data on betting odds for various sports and events. This sportsbook type delivers up-to-date, recent odds for live and pre-match sports events.
Odds simply represent the likelihood of a particular result happening in a sports event. Each sporting event presents a variety of possible outcomes, each with its own chance of occurring. Sports betting odds are essentially these possibilities converted into numerical values for easy interpretation.
It’s important to note that unlike sportsbook API and other types of sportsbook, odds API is not independent software, meaning it only provides odds but not other features of the typical sportsbook. Nonetheless, without an odds API, the sportsbook software just won’t work – what’s the point of betting if your sportsbook does not have the odds?
Key features of an odds API typically include:
- Real-Time Data: It offers up-to-date information on odds, which can change frequently based on various factors like team performance, injuries of the players, weather, etc.
- Wide Range of Sports: Most odds APIs provide odds for multiple sports, including football, basketball, baseball, horse racing, cricket, greyhound racing and more.
- Event Coverage: They provide data on various events, from major leagues to smaller, local tournaments.
- Betting Types: Information on different types of bets, such as moneyline, point spread, totals (over/under), and prop bets, is usually available.
- Bookmaker Information: They often include odds from multiple bookmakers, allowing for a comparison of betting lines.
- Integration Capabilities: Designed for easy integration with websites and apps, they enable automated retrieval and display of odds data.
Conclusion
These are the five main types of sportsbook software available on the market. Each of them comes with its own advantages and features adapted to the needs of operators in the market. Therefore, depending on your specific business needs, budget, and the level of customization you desire, you have to choose between these options. Whether you’re looking to quickly launch a platform or want a fully customized solution, the offers are diverse.
