Sports Betting Software Development [Case Study]
09 Jun 2022
Sports betting continues to gain popularity and for good reasons. Though, it had an undeserved reputation for being improper. Today the situation has changed – you can bet on cricket, football, boxing, hockey and any other game of your choice. Technology has weaponized online betting and supercharged its prominence that attracting more & more active gamblers every passing day. It has therefore emerged as a very popular and profitable business. And, according to Zion Market Research, the online gambling & betting market is estimated to grow to about USD 114.4 billion by 2028. Wondering Why? Simply because sports betting is now easily available on smartphones and desktops. Further, legalized sports betting makes it safer for everyone interested.
Learn how a power player in the sports gambling industry partnered with Rishabh Software to build a custom sports betting solution.
Project Overview
A UK-based global sports technology company certified for online betting under local jurisdiction wanted to build a sports betting system. It would integrate sports data feed services, a gaming management solution & payment processing platform. To eliminate third-party dependency, they needed highly skilled & certified development specialists who can develop and support them to maintain this new system.
Development of Data Aggregation Platform
- Ensures uniform access for all events (matches, races, outright bets ) in a consistent and fast manner while managing the betting and trading services data
- Provides the base data for all sports & matches with odds, possibilities & feeds while utilizing a betting algorithm/platform
- Enables seamless integration across platforms to manage a seamless trading experience with accurate revenue management
Challenges
- Limited/no in-house resources to develop a betting platform
- No data aggregation capability to manage third-party integrations that offered accurate input processing while managing a high volume of requests
- Accurate betting engine to forecast the right probability of wins and losses
Solution
We adopted the agile methodology and planned the sprints to manage the tasks & requirements. The main objective was to come up with a proper business logic/algorithm for data aggregation. We designed the multi-component database architecture with a mainstream technology stack (JPA, PostgreSQL, Liquibase, Apache Kafka). Our team prepared detailed functional and technical descriptions of odds processing, settling outcomes, presenting sports data feeds, settling and placing bets, and calculating risk.
Key deliverables of the sports betting engine development project included:
- Developing a high-end Managed Trading Services (MTS) Solution and integrating it with the Unified Odds Feed (UOF) so the client can make the most of market-leading sports data
- End-to-end development support for the backend of UOF Solution which is responsible for processing odds, presenting sports data feeds, placing bets, settling outcomes, and calculating risk
- Adding new functionalities including new bet types, payment entities, analytical tools for stats of wins & losses with integrations to live sports & video feeds of popular sporting events
- Customizing the UI for easy navigation and seamless betting with visualizations and multi-league selection across iOS and Android devices
- Integrating Sportsbook software for online betting operators
- Obtaining the Sportradar certification of online gambling software
Benefits
- More than 40% increase in user engagement with improvement in weekly sessions/users
- 35% improvement in accessibility of events/month and betting markets
- 50% faster process of placing a bet on mobile devices
Customer Profile
UK-based global sports technology company
Technologies
Java, Spring boot, PostgreSQL, JPA, Liquibase, Kafka
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