Launching a B2B betting platform in a regulated market in 2024: Challenges & Opportunities
TABLE OF CONTENTS
The sports betting B2B solution and business has got a better shape than ever. And why not, the technology’s swiftness
and revolutionary rise of the betting seamlessness on the online and virtual scales have boomed it. There’s a sudden
increase in the number of B2B sports betting business development but it’s never as easy as it seems to be.
Here in this blog, let’s just discuss the potential of launching a sportsbook B2B platform, the fundamental requirements behind operating B2B solutions for iGaming, and the opportunities and challenges that can occur along the way with its effective range of resolutions. So, gear up and grab it all because this will open your way to becoming a successful sports betting B2B solution in the industry.
Here in this blog, let’s just discuss the potential of launching a sportsbook B2B platform, the fundamental requirements behind operating B2B solutions for iGaming, and the opportunities and challenges that can occur along the way with its effective range of resolutions. So, gear up and grab it all because this will open your way to becoming a successful sports betting B2B solution in the industry.
B2B Betting Platform: Market Analysis
There’s a robust increase in user preference towards betting online on sports, for which users need multiple sports
betting platforms. To equate the demand-supply for these betting platforms, the global sector sees a great rise in B2B
betting platform software solutions.
As per the reports carried out in 2021, the global betting and gambling market stood at a valuation of $74.2bn and expects to grow at a CAGR of 9.7%, leading, thus estimating $129.3bn by the year 2028. Considering the visible growth of gambling and betting sectors globally, it can be well understood that the B2B betting platform market growth is going to be tremendously fast and very well-regulated soon.
As per the reports carried out in 2021, the global betting and gambling market stood at a valuation of $74.2bn and expects to grow at a CAGR of 9.7%, leading, thus estimating $129.3bn by the year 2028. Considering the visible growth of gambling and betting sectors globally, it can be well understood that the B2B betting platform market growth is going to be tremendously fast and very well-regulated soon.
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Sportsbook B2B Platform: Regulations & Compliances
The sports betting software industry does
not only rely on providing worldwide gaming ease and engagement but also user
security, safety, and authenticity. Looking at how the opportunities for B2B sports betting solutions in regulated
markets are rising, the need for continuous improvement, information security, and regulatory adherence rises too.
When talking about the challenges and opportunities of launching a B2B betting platform in a regulated market, one must not forget about the compliance requirements and regulatory needs put forth in regional, national, and international realms.
When talking about the challenges and opportunities of launching a B2B betting platform in a regulated market, one must not forget about the compliance requirements and regulatory needs put forth in regional, national, and international realms.
- Absolut legal and regulatory compliance with national and international practices of betting and follow the legal protocols of setting your B2B sportsbook business in the list.
- Compliance and adherence with internationally set standards such as ISO 27001:2013 for information security and management, and ISO 9001:2015 for international business quality management systems.
- Identifying, analyzing, and managing the potential risks or hazards associated with the B2B betting platform software solutions.
- Understanding, administrating, and managing the challenges associated with user frontage like payments security, user data security management, technology protocols, and so much more.
- Absolut legal and regulatory compliance with national and international practices of betting and follow the legal protocols of setting your B2B sportsbook business in the list.
- Compliance and adherence with internationally set standards such as ISO 27001:2013 for information security and management, and ISO 9001:2015 for international business quality management systems.
- Identifying, analyzing, and managing the potential risks or hazards associated with the B2B betting platform software solutions.
- Understanding, administrating, and managing the challenges associated with user frontage like payments security, user data security management, technology protocols, and so much more.
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Opportunities For B2B Betting Platforms in Regulated Markets
The sports betting software industry is one of the trickiest industries as it involves many regulated activities for the sake of user security management, reputation, finance management, and much more. Nevertheless, when regulated, the B2B betting platform market analysis exposes much opportunistic growth.
MARKET LEADERSHIP & COMPETITIVE EDGE
B2B sportsbook licensing in regulated markets makes your business competitively advantageous. Regulated markets give an essence of safety hands to the B2B sportsbook software providers and hence ease their leadership opportunities in the national and even international market, which, with strategic ideation, can be turned into a competitive edge.
EASY USER ATTRACTION & RETENTION
When the sports betting market is regulated, it generates an environment of user safety and security in the domain. Moreover, now is the age of attracting your potential customers with the best rewards and perks. The opportunity to label your B2B solutions for iGaming as remarkable in the market only wants you to take a lead towards higher player engagement.
GOVERNMENT & LEGISLATIVE SUPPORT
To keep sports betting platforms secured and risk-free for users, different governments and legislative authorities keep amending the regulations as per requirements. To promote this act among the public in the least effort, government bodies end up supporting the B2B betting platforms software solutions which actively abide by the statements and hence create an opportunity for uninterrupted and smooth support from the legal entities.
BENCHMARKING & MARKETING BENEFITS
When regulated well, the B2B sportsbook market growth aids in easy influencer marketing, organic results, and even benchmarking of the platform which leads to a good reputation in the industry and also higher marketing benefits. Even organically, such as by providing the most trusted odds feeds, fair betting practices, etc. can also turn chairs for your business.
PRODUCT FLEXIBILITY
The managed B2B sportsbook in regulated markets raises the bar for making solutions that are flexible from all parameters. This aids the B2B sports betting software solutions to get multiple benefits when there is a need to change and refreeze the product model. So let’s say, you see Artificial Intelligence (AI) is booming the betting trends, make your opportunistic move to get ahead!
STRATEGIC PARTNERSHIPS
Regulated markets open the gate for strategic partnerships and alliances with other third parties or supportive businesses. B2B betting platform compliance requirements enhance the trust and authenticity of the platform, leading to more strategic benefits.
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Challenges Of Launching a B2B Betting Platform In a Regulated Market
If you are a new or existing B2B betting platform software solutions company, the region-wise variations in market regulations and trends can be difficult to manage. Managed B2B sportsbook businesses face various challenges too in the launch that are important to be eyed.
Readiness To Change
Several B2B online sports betting providers suffer challenges in keeping themselves forever ready for changes in the industry. Industrial renovations bring the rapid need for refreezing and hence disturb multiple business pipelines which are backbreakers to the growth and progress of the business.
Cost Metrics
Every change of upgradation in the B2B betting industry demands cost additions and hence challenges the financial aspects and budget burdens on the business. Thus the B2B solutions for betting regulations raise the cost challenges.
Legal Processes
Even an existing B2B sportsbook licensing in regulated markets may have to reiterate their processes for legalization in case of any new addition or upgradation of legalities. Dealing with regulated markets thus raises the bar for legal processes too, irrespective of the novelty or maturity of the B2B betting platform software solutions company.
Responsible Gaming Adherence
From market responsiveness to user security adherence, payments, regulations, laws, and everything, keeping the business adhered to every minute regulation is also tricky. It needs a lot of personnel, skills, and minds to manage multiple areas altogether for effective regulation.
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Tactics That Can Turn Challenges Into Strengths
In the rising era of competition, launching a B2B betting platform in the regulated market in 2024 can be successfully cracked using certain tactics.
Technology Adaptation
Get your sports betting software platform well-ready for every technology upgrade. As we see, cryptocurrencies, blockchains, Artificial Intelligence, Automation, etc. transformed the market structure along with making the business ready for the future. Hence, shaking hands with technological innovations is the right and foremost tactic to follow for advantages.
Dedicated Management
Ever wondered about the robust need for having good management control? Well, setting up a robust management system in the business using the best personnel, skills, and resources is always a savior. The B2B betting platform market growth and changes can easily be tackled with the best management acts.
Continuous Market Analysis
Have you heard this before: keeping an eye on what’s happening around the world? Well, your B2B betting platform would never struggle with industrial issues if you knew this truth. To tackle and get control of market regulatory challenges, knowing what’s happening around us can always be the best thing to do.
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Want to Know More About the Best Practices
Explore Regulated B2B Betting Markets Across The Globe
Many countries and regions globally have regulated their betting business and domains well. The B2B betting platform market analysis identifies some regulated markets for sports betting and gambling, let’s see if your is on the list or not.
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Developing B2B Betting Platform Software Solutions: Process
So, are you looking to start a B2B sports betting platform that comes with all regulatory amendments but does not know where to start? Let’s go through the process we follow at GammaStack to help businesses develop their most outstanding sportsbook software.
Need Identification
Talk to us for the first step of your B2B betting platform software solutions development. This starts with understanding, analyzing, and identifying the business needs and requirements to be edgy in the market. Businesses, whether new or existing, can identify and share their requirements in this phase.
Development Planning
The next is to identify or plan the further development process. For a new B2B sportsbook software development, the plan would start from scratch, whereas, this leads to direct upgradation or likewise stage in the case of an existing platform.
The stage may include planning from multiple views like budget, market coverage, reach, quality, time, and so on.
Resource Gathering
The next stage is where tasks are delegated and resources are allocated for the effective development of the sports betting platform.
Gathering the resources can include assets and information such as licenses, agreements, third-party systems, and many more.
Designing & Development
Now comes the most important part of our process - designing and developing the sports betting platform. The B2B sports betting platform regulations are to be kept in mind here as well to develop the best platform in all terms.
This stage can include many other activities like customizing the system, integrating third-party tools, deploying licensing requirements, etc.
Quality Testing
The process further moves to check the quality of the developed software from various aspects like quality, feasibility, responsiveness, speed, scalability, and whatnot.
The stage may also diversify into analyzing the quality from the regulations’ mirror.
Launch & Post-Launch Aids
Finally, the B2B sports betting platform is ready to launch and use with fully regulated measures.
Well, we do not just end it here as we believe in assisting the clients with post-launch services too such as upgradation, maintenance, marketing, and whatnot depending on what you need from us.
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Why Choose GammaStack For Your B2B Betting Platform Development?
GammaStack is the leading provider of B2B sports betting platforms which not only gets your business with the development but also ensures that you familiarise with the challenges and opportunities of launching a B2B sportsbook in a regulated manner for successful execution. Hence our development services are end-to-end, meaning we offer post-launch assistance too to aid your business with anytime maintenance and control. We have been developing sports betting software for many global gaming businesses and operators for more than 13 years now, and the excellence that we have crafted in the form of our development skills, personnel expertise, and unique services takes us to the list of top providers.
Key Takeaways To Enjoy From GammaStack!
GammaStack is a sportsbook software provider that understands the importance of developing good and competitively amazing B2B betting platform software solutions and hence gives your business many exciting deals.
- Need further assistance to take your B2B betting platform to heights after development? We have the most dedicated marketing support that takes your business to the next level in the race.
- Looking for assistance but want it to be self-service? Let’s hire the most skilled developers from GammaStack today and satisfy your development needs as you want.
- Want to enter other domains like B2B online casinos, live dealer solutions, slots, etc? We are the one-stop solution for all your queries.
- Need further assistance to take your B2B betting platform to heights after development? We have the most dedicated marketing support that takes your business to the next level in the race.
- Looking for assistance but want it to be self-service? Let’s hire the most skilled developers from GammaStack today and satisfy your development needs as you want.
- Want to enter other domains like B2B online casinos, live dealer solutions, slots, etc? We are the one-stop solution for all your queries.
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FAQs
Some challenges may include navigating regulatory compliance requirements, obtaining necessary licenses and permits, and facing competition from established players in the market.
Opportunities may include access to a larger customer base and the ability to offer a wider range of betting options and services, as well as the ability to operate legally and transparently.
Requirements may vary by jurisdiction but generally include measures to prevent money laundering and fraud, as well as to protect the interests of customers and ensure fair and transparent operations.
The process of obtaining licenses and permits will vary by jurisdiction but generally involves submitting an application, providing financial and operational information, and passing background checks.
In regulated markets, B2B betting platforms can operate legally and transparently but may face more competition and stricter compliance requirements. In unregulated markets, there may be more growth opportunities, but also a higher risk of operating outside the law and facing legal repercussions.
Factors to consider may include regulatory compliance, obtaining the necessary licenses and permits, competition, customer demand, and the ability to offer a competitive and appealing product or service.
Ensuring liquidity may involve partnering with liquidity providers, developing relationships with key industry players, or offering a wide range of betting options to attract customers.
Legal requirements for launching a B2B betting platform in a regulated market may include obtaining licenses and permits, following regulations on anti-money laundering (AML) and know-your-customer (KYC), and adhering to rules on data protection and customer protection.
Yes, there are many examples of successful B2B betting platforms in regulated markets, such as Gammastack Pinnacle, SBTech, and Kambi.
Technology can play a vital role in launching a B2B betting platform in a regulated market, it can help in compliance with regulations, ensure security and integrity, provide a smooth and seamless user experience, and help with the efficient management of operations.
Sources
- https://www.globenewswire.com/en/news-release/2022/07/05/2473771/0/en/129-3-Billion-Global-Sports-Betting-Market-Growth-of-CAGR-9-7-by-2028-Rising-Digital-Infrastructure-is-Driving-the-Market-Sports-Betting-Industry-Size-Share-Growth-Market-Outlook-V.html
- https://www.b2bgamingservices.com/licencing-compliance/
- https://sbcamericas.com/2022/07/05/us-gaming-roundtable-new-market-entry-challenges/
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