Sports betting. It is taking off in recent years, especially among the most popular sports in the world.
The NBA is no exception to this as a sport with a global presence. It is estimated that sports betting on NBA games alone are worth at least $50 billion.
As a bookie, you will want to offer the best sports betting software for your players, especially among the most popular sports.
This would include NBA online betting. But if you are new to the sports bookie world, you may question what software you should be using to take basketball bets?
Well, this is your guide to basketball betting software and what you need to make sure it provides.
The first thing that you want to make sure that your basketball software is doing is providing live betting options for your bettors.
This alone will increase the possible revenue that you can bring in from your sportsbook. Why? Because it will allow your bettors to place bets at any time during a game instead of having to put them all in before the game.
Some bettors wait until a commercial timeout or the end of a quarter to bet on the spread of a basketball game because of a recent momentum shift. As a bookie, you will want to have this option available to not only keep more bettors on your platform but also open yourself up to more ways of making money.
One thing that can go wrong with certain software is that it can cause glitches and delays with live betting if too many people are trying to use the platform at once. You want software that will have minimal issues with not only traffic but updating the betting lines as needed.
Not having updated betting lines during live betting also puts you in danger of losing business for two reasons. If they are not fair odds for the bettors, they will not want to bet on the game live and will look for somewhere else to take their betting money.
The second reason is that if the lines are not properly updated, then bettors can take advantage of this. That can end up costing you a lot of money in bets that you have to pay out. With the right software, you will not have to pay out bets that work too much in the favor of the bettor.
Software with an algorithm to maintain fair lines is what you need.
Another thing that your basketball software is going to need is an odds calculator. This can apply to a lot of sports but with basketball, people will like to have certain parlays and certain props to bet on.
When it comes to the props, there can be a lot of options with a lot of different odds because of all of the different statistical things that can happen in one basketball game. It is not like baseball or hockey where runs or goals come at a premium.
Basketball has points scored several times per minute, so the odds need to be ready to change on a dime to reflect that.
Also, before the games start, odds need to properly reflect all of these possibilities. Sometimes that can be tough for a bettor to mentally add up without the help of a calculator.
This parlay calculator is one example of how you would use this to add up the odds of each individual bet and come up with how much profit you would win if your bet hits.
To do this efficiently, you have to take how much money that you are wagering, divide it by 100, and then multiply it by however much the money line is on that bet. Once you do that for each bet you have on a parlay, you should have accurate odds on an odds/parlay calculator for how much money you would win on that bet.
Having this option for bettors will make their lives easier and should make people more likely to go through with those bets on your platform.
When it comes to a sports betting app, one thing that you want to have in your bookie software is a section for prop bets. Typically in a sportsbook, the first things that you see for each game available to bet are the point spread, the over/under, and the money lines for each team.
Then, most sportsbooks will allow you to click on a specific section to see more advanced betting options that you can make on each game. This is where prop bets come in because bettors have to really know what they are looking for to make these bets.
One example would be if the Golden State Warriors were playing the Los Angeles Lakers. There are a lot of star players on both of those teams, so bettors may be more tempted to bet on individual performances in those situations.
They may bet on Lebron James getting a certain amount of assists. Draymond Green may get a certain amount of rebounds and blocks. Stephen Curry may get a certain amount of three-pointers, Russell Westbrook may get a certain amount of points, etc.
When you start to think of the type of stats that each player can put up in a single basketball game, the possibilities of bets that can be submitted on your sportsbook for just one game are endless. So, you need to make sure that your basketball software is advanced enough where your bettors can see all of those options in an easy and convenient matter for them.
Let’s face it, when bettors sign up for sports betting apps these days, they really want to take advantage of a generous bonus that a sportsbook may offer. Your sportsbook should be no exception and you need to make sure that your software can apply bonuses that you want to offer smoothly.
Plus, you need to make sure that the software can be given to bettors on your terms.
Let’s say for example that you want to offer a risk-free bet of up to $500 for new users. That is all well and good but your catch here might be that bettors would have to place $500 in bets before they can withdraw that money from their account on your sportsbook.
You would need to make sure that the software you are using can actually do all of this efficiently because offering these types of bonuses will make your sportsbook more money and it will drive in new customers.
Some bettors specifically look for sign-up bonuses with new sportsbooks and there are plenty of articles out there promoting the best ones, so make sure you have the technology behind you to be able to keep up.
Pay Per Head
Finally, if you just have no idea how to distinguish good software from all of the offers out there, perhaps you should find a partner that can do all of this for you. This is where a pay-per-head service comes in.
Let’s face it, even professional sports organizations like the NBA are entering betting partnerships. You can do the same with a service that provides a team for customer support, its own software, its own hardware, and years of experience in operating and designing sportsbook websites.
This option can not only save you time but also potentially save you the money of paying for your own software (or software that is not up to date) out of your own pocket.
So, what is the catch? The catch is that for this service of providing software and many other things for your sportsbook, you have to pay $10 for every new customer that bets on your platform.
In return, you would get well-regarded software that can take care of all of the things above such as live betting, having an odds calculator, using proper prop bets, and having sign-up bonuses that mesh with your basketball software operations.
For some of you reading this article, you may not know the first thing about finding software that can take care of all of these needs. Well, for you, a pay-per-head service can help smooth the transition of going from the betting side of the sportsbook to the operating side of it.
Start Your NBA Online Betting Sportsbook
These are just a few things that you need to make sure that your NBA online betting software has with your sportsbook. If you take care of all of these needs with your basketball software, you should start seeing more bettors on your platform in no time.
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