White Label vs Turnkey Sports Betting Solution: An Ultimate Guide
In the ascending trends of gambling and betting online, there has been tremendous growth in the online betting software businesses and services. Sports betting software is one of the rising gaming solutions today that facilitates a wide range of sports, gaming markets, and events for the players to bet on as per their choice, statistics, etc. and thus generate the wins.
Having a mix of gaming excitement and opportunities to profit from betting, the sports betting software has become most popular in the industry worldwide. Although sports betting software solutions vary in features, specifications, and other internal systems thus choosing the right ones for each business is sometimes complex. Especially for businesses that are new in the industry, choosing whether to opt for a white label or a turnkey sports betting solution is very tricky.
Do you know which sports betting software is correct for your business? Let’s understand the differences between a white label and a turnkey sports betting solution.
What is White Label?
A white label is a solution that comes as a ready-to-operate which means that there will be a requirement for third-party intermediation to maintain and handle the operations of the software. A white label solution can be grabbed in any of the online gaming and betting ranges, such as the white label sports betting software, online casinos, and many more. The white label betting solutions are one of the most prominent ones on the list. White label solutions usually involve the prefabrication, testing, and launching of the software, but do not offer much differentiation or novelization.
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Pros & Cons of White Label Betting Solutions
The white label betting solutions are quite beneficial when it comes to establishing a new business in the market. However, there are some drawbacks as well. Let’s take a brief look at them.
Pros
Cons
Completely pre-built with no hassle for development from scratch
Limited control over core features
Setup is relatively faster with quick deployment
Monthly/quarterly/yearly charges may apply
Comparably lower initial investment
Clients share the same platform updates
Includes custom branding
Reliance on the software provider
The provider handles maintenance
Constraints on long-term scalability
The provider often covers licensing needs
Includes 3rd party integrations & necessary features
Now, certain businesses may find it confusing whether to choose a white label betting solution or not. The answer is if your business is looking forward to taking a major vision of the marketing, branding, and promotions then the white label betting solutions can be beneficial as your software provider can take care of the technical, legal, and licensing sides of management.
What is Turnkey?
A turnkey solution is more profitable for business entities that seek to gain more control and administration of the software. Turnkey solutions are another form of getting software solutions where the legal and financial matters rely on the operators, and the technicalities are managed by the suppliers. Turnkey, again, comes in a variety of games and sports such as sports betting, online casinos, and whatnot. Having the turnkey betting solutions is frugal if you want to maintain more control of the software.
The turnkey sports betting software trends the most and may generate a good deal for businesses that already hold licenses or seek to get a license on their own. Moreover, if you are an existing entity or a new entrant with complete market knowledge and a cross-border understanding of the legal and regulatory practices, turnkey betting solutions are more profitable than any other solution.
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Pros & Cons of Turnkey Sports Betting Solutions
A turnkey iGaming solution has its own set of advantages and disadvantages. Before opting for one, you need to have a clear idea of what it could bring in. Here’s a snapshot!
Pros
Cons
Aids in fast setup without developing the site from scratch
Clients have to handle individual licensing
Fixed rates are allocated
Comes with a higher initial investment
Includes all necessary features
Offers limited flexibility and scalability
Offers custom branding with some control over features
May face challenges integrating with existing systems or third-party services
Key Differences: White Label vs Turnkey Sports Betting Solutions
Here’s a quick sportsbook software comparison for turnkey and white label sports betting solutions.
White Label
Turnkey
Instant Launch
Instant Launch
Low Setup Costs Involved
Low Setup Costs Involved
Licensing & Management Under Suppliers
Complete Flexibility & Customisations
Integrated Payment Systems
Less Reliance on Suppliers
Limited Flexibility & Customisations
Payment Systems Under Operators
More Reliance on Suppliers
Licensing & Management Under Operators
High GGR
Low GGR, Yet External Costs Added
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Developing a White Label or Turnkey Sports Betting Solution: What To Choose?
For a business, whether new or existing, understanding the fundamentals of choosing a white label or turnkey is a very crucial part for long-term profitability. Certain parameters, such as geography or markets, business type, budget, etc., come into play when developing white label betting solutions or turnkey betting solutions. Quite challenging, right? Hence, we have got it easy for you! To choose the right way out of the two, the following keys need to be considered for effective decision-making.
Understanding the Market Entry Type
To identify which among the white label or turnkey betting solutions suits your needs, understanding the type of business entry is vital. For instance, a new business entering the industry might lack knowledge about international licensing and payments, and hence may generate white label sports betting software as the right choice. Likewise, an existing business with no licensing may also find a white label as the optimal solution to go for.
On the other hand, the new or existing business with complete licensing and payment processing configurations must look for turnkey sports betting software.
Analyzing Business Focus
The next in line to understand is the focus or strategies the business constitutes. To be clearer, whether new or existing, a business entity that seeks to keep a large portion of its control and focus on marketing, branding, promotional, and other such areas, hence has less time or skills to dig deep into technicalities and legal considerations, the white label is the right choice.
Contrary, the business or brand that has or wants to keep equal control of all elements including technical management, software maintenance, wallets, licenses, etc. then the turnkey turns as the optimal choice.
Budget Analysis
Never underestimate that the budget is another important element in helping businesses decide the right choice between white label and turnkey solutions. A budget that has limited scope for payouts and does not look forward to opting for high-purchases can switch to white label betting solutions.
In contrast to this, a list of businesses does not confine on budgets but look forward to getting more ownerships possible, must opt for a turnkey solution from their best sports betting platform options.
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Countries With Legal Sports Betting Business
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Various Sports & Esports Covered
There are many sports and esports which are majorly covered in our white label or turnkey sports betting software. The following are some, but not limited to, sports and esports which businesses cover the most globally.
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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Various Sports & Esports Covered
There are many sports and esports which are majorly covered in our white label or turnkey sports betting software. The following are some, but not limited to, sports and esports which businesses cover the most globally.
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Want to Know How Your Sports Betting Business Can Generate Millions?
Key Takeaways: Sports Betting Software Solutions
Whether the white label or turnkey betting solutions, integrating the rising trends of betting can add more allure to your platform. Cryptocurrencies, blockchains, and DeFi technologies are some of such advancing trends in sports betting, the integration of which can enhance not just the software competence but also gaming enthusiasm.
GammaStack is a versatile sports betting platform provider that believes in not only offering the best developmental needs but also aiding businesses with supreme marketing and legal assistance. So, why get your business equipped with GammaStack for development only? Get marketing guidance from us and take your business to the next level.
If you are looking for a self-service betting solution development, we offer users and businesses the facility to hire developers on demand and get your developmental processes completed efficiently and just as you want it.
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About GammaStack
GammaStack is the elite development company when it comes to offering white label betting solutions or turnkey betting solutions to gaming businesses worldwide. Having 13+ years of industry experience, GammaStack gives the most amazing and competent online betting solutions that are just unmatched and give your players the next-level gaming enthusiasm. From a ready-to-launch to completely customised, get not just development assistance but also the complete pack of marketing and post-launch activities to help you reach your goals smoothly. Nevertheless, we also assist businesses to diversify their portfolio with the best-in-class online casinos, sports betting, and other fantasy sports in one, for diverse gaming excitement for players. So, what are you waiting for? Get the best deals on betting software solutions from GammaStack today!
FAQs
White label is a sports betting software that offers operators with development of solutions where licensing and payment systems are taken care of by the suppliers. The white label betting solutions are just operators in the market with a license offered by their parent provider company.
The turnkey betting solutions offer 100% ownership of the software developed, its licensing, and payment processing system to the operators. The turnkey sports betting software, in that means, is a solution where suppliers only maintain the technical part and the rest is owned by the operators only.
Well, the selection between white label and turnkey betting solutions depends on the requirements, needs, aims, and financial parameters of the operator company. You can drop in your queries to white-label and turnkey sportsbook providers, GammaStack, at [email protected].
Yes, GammaStack is the leading brand when it comes to developing online betting solutions for its customers.
A turnkey gambling solution is easier to grow. You can add new tools, markets, or features any time. White label solution is harder to scale because you depend on your provider's limits.
Sources
- https://businesscasestudies.co.uk/white-label-vs-turnkey-vs-api-sports-betting-platforms-size-of-the-opportunity/
