If you’re bored of the same old offers then our list of new betting sites should be right up your street. Because these companies don’t have the history or reputation of the high street bookmakers it means they have to work harder to get your business. This could be through unique features or by running generous promotions. Either way, it’s good news for us punters.
How Easy is it to Start a New Betting Site?
If you’re new to the gambling industry then you may or may not be aware that there are hundreds of different sties that all offer sports betting opportunities. In fact, the choice these days is bigger now than it’s ever been, mainly down to the fact that many companies operate online.
The expansion of online betting has made it easier and much more accessible for companies to simply start up their own online betting sites. But, gone are the days of an unregulated or even loosely regulated market. Companies have to prove they are trustworthy and honest.
The first place that many companies start with. If they don’t have a license then they aren’t legally allowed to offer their services within the industry.
Licenses, as you can imagine, aren’t all that easy to come by either. In fact, many gambling commissions have made it very tough for new companies to obtain a license. The increased difficulty in getting a license is in place to protect the user.
Unfortunately, over the years there have been several rogue bookmakers that have started up, often taking advantage of certain loopholes in the system or even just gone it alone and against what is required. The downside to this is that many punters aren’t aware that these licenses are even in place, never mind if a certain bookmaker holds one.
The structure was pretty simple; make a fancy looking website, have a solid marketing plan to get people through the virtual doors and then extort.
These days companies such as the UK Gambling Commission, who are the regulatory body within the UK, are super-hot on shutting these sites down before they even get going. News spreads fast online these days, so finding them is a lot easier than it once was.
Whilst the UK Gambling Commission allow companies to offer their services within the UK, there are many different bodies based around the world. Depending on where the betting company is based and the market they are wanting to target will determine where they need to obtain their license.
With all licenses there are a few key rules that the company will need to adhere to:
- Social responsibility – The social factor is probably the most important and this means things like miss-led marketing campaigns, underage gambling, spotting problem gamblers and also allowing the people who need help to get help. A huge amount of responsibility is passed down to the bookmaker these days and it’s upon them to get help to the people that need help.
- Anti-money laundering – As huge sums of money are going to be exchanged each day, a huge emphasis on anti-money laundering needs to be in place. Bookmakers are forced to carry out rigorous checks on who’s gambling with what money.
- Technical standards – This relates more to casino, poker and bingo where many games are automated, but it is the gambling company’s responsibility to make sure that games are fair and punters know the risks for each game. The increase in online and mobile betting has seen a huge shift into how this now policed.
Design and Layout
The next step comes with the design and layout of your site. As the completion has massively increased over the last decade or so, it’s no more important than ever to make sure that a potential betting site looks the part and functions accordingly.
There are two routes that companies can take for this:
- Unique, custom design, essentially starting from scratch
- Use of white label designs, allowing bookmakers to get up and running quickly
Unique designs are something that all bookmakers would really like to have. They want their company to stand out from the crowd and be able to offer things that other bookmakers can’t. But, unique designs, especially sports books, come at a price, usually a huge price at that.
The likes of BetVictor and Paddy Power are probably about as big as you will find online these days, both with very different looking websites. Over the years they have been able to add to it and fine tune it to work with the goals each company has set out. Whilst we don’t know the exact cost of either site, it’s more than likely that tens of millions has been invested to get them where they are today.
A start-up sportsbook isn’t going to have that money from the off, so the solution is to use a white label company. This will mean that they rent or purchase a skin from that company and then add their branding. The layout will be fairly familiar and limitations will be in place as to what they can achieve in terms of design, but it’s a much more cost-effective way of doing things.
Two of the more popular white label betting companies include FSB Tech and Oddsmatrix. It’s likely that you’ve never heard of either, but we bet that you’ve seen their designs before. Between them, companies such as 21 Bet, 188 Bet, Genting Bet, DafaBet, Boylesports, Sporting Index and Tipico are all using their software.
Whilst the name above the door might state one thing, more often than not, sportsbooks these days are part of a bigger group. These groups are pretty common these days as acquisitions and buy outs become more popular.
You’ll often find that groups utilise sister-sties to create a bigger network. These might start out as casino or poker groups and then acquire a company to have run their sports betting side. The deals that are undertaken for this can be worth hundreds of millions of pounds, but are an easy way for companies that specialise outside of the sports betting sector to come in and see almost immediate success.
New Sites v Established Brands
As we have already stated, over the last decade or more there have been a plethora of new sites wanting to get in on the action. The industry is worth a reported $450billion a year, with this number continuing to rise, so it’s understandable that people want in.
But, as a new site you are starting from scratch, which makes things very tough to make money in what’s already a highly saturated marketplace. The flip side is that you only need a very small percentage of the ‘pie’ to make some serious money.
There are a number of advantages of being a new bookmaker though. The main one is that often these smaller sites have to work harder to get players through the door, which is great for the consumer. They are often able to work closer with each punter and tailor things like bonuses and offers to their needs. Things such as banking and customer support doesn’t have to be as huge due to player numbers, which means they should be able to run more efficiently.
You’ll often see the smaller sites offer up higher bonuses as well. Bonuses have long been a great way to get new players to try a new brand, so this makes sense. Often punters will see the big numbers and opt for this over small bonuses or free bets from already established brands.