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The iGaming world (online casino and sports betting) is thriving significantly. Entrepreneurs look at it as an opportunity to venture into this industry. This interest has increased the demand for turnkey sportsbook platform in the market. A turnkey sportsbook solution is a complete solution which enables you to start a sportsbook business without any technical knowledge or resources. Though it is a great platform to launch an iGaming business, it is not simple as it sounds. Why? Because it requires a great sense of technical and non-technical knowledge to ensure a smooth operation.
In this blog, we will walk you through important things that you must consider before launching a turnkey sportsbook platform. Let's get started.
An Overview of Turnkey Sportsbook Solution
A turnkey sportsbook solution is a ready-made, fully functional solution that enables operators to launch an online sports betting business with minimal efforts. This solution eliminates the need for extensive deployment, making it ideal for startups and established operators seeking to enter the world of iGaming. Such platforms are built to be easy to use and come boasted with all the necessary features like payment processing, customer support, and security.
Different Types of Turnkey Sportsbook Solutions
There are different types of turnkey sportsbook platform available in the market. Knowing each type is crucial to easily launch a sportsbook business. Let's talk about them below.
Fully Managed Turnkey Sportsbooks
As the name suggests, it is a comprehensive solution where the provider takes care of everything related to running the sportsbook. This includes everything such as risk management, odds, customer support, and payment processing. This type of platform is highly suitable for entrepreneurs who have no experience in the sports betting industry.
Modular Turnkey Sportsbook
Next comes modular turnkey sportsbook. It is considered to be a flexible solution allowing entrepreneurs to customize their sportsbook platform as per their specific needs and requirements. Entrepreneurs having a little bit of technical background knowledge and want more control over their sportsbook platform can go with this option.
API Integrated Turnkey Sportsbooks
Another type of turnkey sportsbook platform includes API integrated turnkey sportsbook. This solution enables entrepreneurs to integrate the sports betting platform into their own website, mobile application or third-party system. If you’re already an established entrepreneur and have an existing customer base and want to offer sports betting service to your players, this platform can be your best bet.
Benefits Of Using A Turnkey Sportsbook Solution
Let's take pros of using turnkey sportsbook platform into consideration:
Fast market entry: The benefit of this solution is that it allows operators to launch their iGaming business as quickly as possible. They do not need to go through the hectic and lengthy development process. It simply means that operators can generate revenue as soon as possible.
Affordable solution: Compared to other solutions, turnkey sportsbook platform is an affordable solution for operators. As a budding entrepreneur, if you’re on a tight budget, go with this platform without thinking twice.
Easy to use: Keeping every type of operator in mind, turnkey sportsbook platform is designed to be user-friendly. You do not need technical expertise to launch this.
Drawbacks
Less Flexibility: As an entrepreneur, if you want to add on extra features, third-party tools or integrate with other systems, turnkey sportsbook platform might not be the right fit for you.
Limited customization: Since turnkey is a pre-built platform, operators will have limited options to control over features and functionality of their platform. So, this can be a con for operators who want to scale their platform in the market.
Dependency on turnkey sportsbook software providers: Every turnkey operator is dependent upon its provider for updates, support, and maintenance. If the provider fails to provide adequate support, then it will be a drawback for the operator.
Options To Promote Your Turnkey Sportsbook Platform
Paid search advertising
Email marketing
Affiliate marketing
Content marketing
Final wordings
In the final wordings, we can say that turnkey sportsbook platform can be a good solution for startups and entrepreneurs. However, it’s important to consider everything from features to advantages, disadvantages and the right software provider. By selecting the right software provider like PieGaming, you can build your sportsbook business successfully.
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