How to Start a Bitcoin Sportsbook
Struggling to find a profitable niche in the booming crypto world? Traditional sportsbooks often face slow payments and limited privacy, frustrating users. Starting a Bitcoin sportsbook solves these issues by offering fast, secure, and anonymous betting. Discover how to launch your own winning platform with this step-by-step guide.
First, let’s cover the fundamentals.
First, let’s cover the fundamentals.
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What is Bitcoin?
Bitcoin (BTC) is one of such cryptocurrencies or virtual currencies that has set a different trend in the gaming and gambling world.
Bitcoin is a decentralised digital currency that involves peer to peer transactions with no involvement of cash or fiat currency. This means that there is no intervention of centralised bodies like banks and other financial institutions. The transactions in Bitcoin are supported by a variety of network nodes and the transactions get recorded in the ledgers creating a chain of blocks, known as the blockchain.
Bitcoin is a decentralised digital currency that involves peer to peer transactions with no involvement of cash or fiat currency. This means that there is no intervention of centralised bodies like banks and other financial institutions. The transactions in Bitcoin are supported by a variety of network nodes and the transactions get recorded in the ledgers creating a chain of blocks, known as the blockchain.
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What is a Bitcoin Sportsbook?
The sportsbook, also known as a bookie or bookmaker, allows gamblers to bet and get winnings as per the outcomes. A sportsbook or sports book is a platform which is available over the internet that constitutes various sports and competitions to bet on like —
- Golf
- Football
- Tennis
- Horse Racing
- Baseball
- Ice Hockey
- Basketball
- and more.
Reports suggest that Bitcoin caters around 60%+ of the total market coverage among cryptocurrencies.
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6 Steps to Start a Bitcoin Sportsbook
While thinking of developing a good bitcoin sportsbook for your business, the first and foremost step is to identify the process that helps you move in the right direction.
Decide What You Need
Begin with the identification of needs to develop a fascinating bitcoin sportsbook for your business. The process may involve —
- Knowing how a bitcoin sportsbook operates
- What areas it can cater to as per your expectations
The next in line is to plan the requirements well.
Finding a Good Software Provider
Finding a great sportsbook software and service provider is never an easy task especially with the Bitcoin sportsbook
business model. Think and plan on —
- What you want
- What kind of deliveries you expect
- The quality of the sportsbook
- Cost and budget ranges, and so on.
First, answer these questions yourself, then find top providers like GammaStack.
Interface Designing
Modern gaming and betting styles need ultra-modern interface design for engagement. This process may require you to —
- Opt for the most user-friendly sportsbook interface
- Selection of the multiple channels to scale with
Next, put the best designs, attractive colours and textures, etc. for an engaging design.
Integrate the Best Features
Now the other stumbling step is to integrate the systems of your choice into the Bitcoin sportsbook setup. Integrate —
- The best APIs and payment gateways
- Different cryptocurrencies along with Bitcoins
- Legal integrations and licensing
- And other crucial features
Not just this, from GammaStack, you can also get diverse casino games integrated with the sportsbook so that you can switch easily between the two.
Customisations
In today's competitive market, offering customers something unique, such as a customized sportsbook, is crucial for
gaining an edge. To start a custom Bitcoin sportsbook, customise your —
- Markets
- Events Coverage
- Tokens for your games
- Bonuses
- Payment Modes
- Crypto Selection etc.
Marketing & Launch
Marketing your offerings is as important as developing and launching them. Companies like GammaStack not just offer clients the bitcoins sportsbook but also hand you amazing marketing guidance for your ease. Finally, launch the sportsbook and observe player engagement.
Ready For a Sportsbook Development?
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Why Launch a Bitcoin Sportsbook?
There are a couple of benefits to launching a BTC sportsbook. These include —
Faster Transactions
Bitcoin enables fast deposits and withdrawals. It allows users to bet and receive winnings quickly, which is essential for live betting.
Enhanced Privacy & Anonymity
Users can bet anonymously, protecting their personal and banking details and reducing identity theft risks.
Global Accessibility
Bitcoin's global nature allows operators to reach a wider audience, avoiding banking limits and currency issues.
Lower Transaction Fees
Reduced fees are a hallmark of Bitcoin transactions. This is largely due to the absence of intermediaries, making them more cost-effective than traditional payment options.
Security & Reliability
Bitcoin sportsbooks benefit from blockchain technology, which guarantees transaction security, transparency, and immutability. This greatly reduces the risks of fraud and chargebacks.
Attracting Crypto Enthusiasts
Accepting Bitcoin broadens your customer base by attracting cryptocurrency users.
Competitive Bonuses
Bitcoin sportsbooks use special or tailored bonuses and promotions for crypto enthusiasts to improve player retention and engagement.
Higher Deposit & Withdrawal Limits
For those engaging in high-stakes wagering, BTC sportsbooks often prove advantageous due to their capacity for larger transaction sizes.
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Lottery
Casino
Fantasy Sports
Sweepstakes
Types of Bitcoin Sportsbook Software to Choose From
When developing sportsbook software, the main choice is between building a custom Blockchain-powered sports betting platform or buying a ready-made solution. Selecting the right option is key to business success. Many popular types of Bitcoin sportsbook software exist worldwide.
Turnkey Bitcoin Sportsbook
A turnkey Bitcoin sportsbook offers —
A turnkey Bitcoin sportsbook offers —
- Quick Bitcoin gambling site launch
- Ready-made solution
- Limited customization
- Bitcoin and other crypto integration
- No software development from scratch
White Label Bitcoin Sportsbook
White label Bitcoin sportsbook offers —
- Fast market entry without building from scratch
- Cost-effective solution
- Customizable branding and features
- Global accessibility
- BTC and other crypto integrations
- Limited ownership
Custom/Bespoke API Bitcoin Sportsbook
Custom API Bitcoin sportsbook offers —
- Real-time odds and live data updates
- Adding features easily without system redesign
- Scalable to add new sports, leagues, and betting types
- Fast, cost-efficient development and deployment
Retail Bitcoin Sportsbook
Retail Bitcoin sportsbook offers —
- Instant deposits and withdrawals with higher limits
- Provably fair and tamper-proof outcomes
- Enhanced privacy and anonymity
- Lower transaction fees
In addition to this, GammaStack offers —
- Accepting, editing, and deleting bets
- Generating payouts
- Managing bet history
- Bet slip printing
- Real-time odds and analytics
Mobile Bitcoin Sportsbook
Mobile Bitcoin sportsbook enables —
- Mobile-first sportsbook development
- Bet anytime, anywhere via mobile
- Push notifications of live and upcoming events
- Global accessibility
- Enhanced privacy and anonymity
- Instant deposits and withdrawals
- Intuitive UI/UX
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Sports & Non-Sports to be Covered in a Bitcoin Sportsbook
If you are thinking about what games and betting markets you can involve in the sportsbook, here are some of the top-rated solutions that we cater to our clients.
Sports
Soccer/Football
Tennis
American Football
Basketball
Baseball
Cricket
Golf
Hockey
Baseball
Esports
Rainbow Six Siege
Rocket League
Apex Legends
Free Fire
Fortnite
FIFA
Arena of Valor
Hearthstone
CounterStrike
PUBG Mobile
DOTA - 2
Overwatch
Call of Duty
League of Legends
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Some of the Countries Where Sportsbook are Legal
Require Bitcoin Sportsbook?
GammaStack Offers Advanced Bitcoin Sportsbook
Starting a Bitcoin sportsbook is a tricky task and requires a lot of effort, comprehensive assistance, and many other aspects. To help you in all of the steps competently, GammaStack is the best go-to company.
GammaStack is the premium Bitcoin sportsbook software development company that offers —
Retail Bitcoin sportsbook offers —
- Service to global businesses
- Uses state-of-the-art technology and expert developers
- Delivers unique, high-quality, compatible, competitive, and scalable solutions
- Focuses on providing a delightful user experience and long-term partnerships
- Maintains strong customer relationships by listening and adapting to client needs
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FAQs on Bitcoin Gambling Site Launch
GammaStack has been in the field for many years and has delivered uncountable Bitcoin sportsbooks so far of different types viz. Turnkey, white-label, custom, and so on.
The development and start of a Bitcoin sportsbook solely depend on the type of sportsbook selected. Certain software, such as a custom might take a longer time.
GammaStack has the most premium list of crypto sportsbook offerings, including Bitcoin. The crypto sportsbook that we majorly work on includes —
- Polygon (Matic)
- Binance Coin (BNB)
- Litecoin (LTC)
- Ripple (XRP)
- Ether (ETH)
- And more
Well, this depends on the type, scale, and aims of the business. Businesses that require complete ownership generally opt for the turnkey sportsbook, and so on.
Bitcoin sportsbooks offer faster, cheaper, and more private transactions using cryptocurrency and operate with less regulation compared to traditional sportsbooks that use fiat currency.
Reputable Bitcoin sportsbooks offering robust security protocols can be considered safe and secure. Nevertheless, cryptocurrency risks such as price fluctuations and fraud remain, requiring user awareness.
Sources
- https://fumbi.network/en/news/bitcoin-as-legal-tender-in-another-country-crypto-weekly-update/
- https://www.cryptopolitan.com/crypto-betting-vs-traditional-gambling-sites/#Crypto_Sportsbooks_vs_Standard_Betting_Sites
- https://www.statista.com/statistics/730782/cryptocurrencies-market-capitalization/
