In this article we will get to the bottom of why iGaming software development behind betting exchanges is worth the effort of investing and how you can get your own betting exchange with Swissbet.
Betting exchanges differentiate from traditional bookmakers, as they implement a peer to peer concept. In such platforms the players compete against each other in the betting process, without third parties being involved. Without the bookmaker as the intermediary, the betting odds and rates are modified by the players themselves. The betting process is done by placing back and lay bets. Back betting is supporting something to happen, while lay betting is supporting something not to happen. This has revolutionized the whole betting concept as it grants equality, transparency and profit optimization.
Modern betting exchange software needs to be fully equipped to stand the modern online betting competition. It should offer monitoring tools, fraud detection capabilities, and functionalities that allow appropriate limits impose on players for venture safeguard. An esteemed betting exchange site must not only ensure the business objectives, but offer a seamless and secure betting experience for the punters. In this regard, it needs to provide cutting edge algorithms for the back and lay odds setting, live betting , ass well as mechanisms to support balancing and calculating bets and odds. As liquidity is a key factor to successful betting exchanges, to avoid any issues and discontent with delays in money flows and transactions, a cash flow management feature tool is of paramount importance.
An exceptional betting exchange software should facilitate efficient management of all players—both new registrants and existing users. Establishing individual profiles and segregating them into categories will enable you to monitor different segments and gauge their responses to your platform.
A comprehensive reporting tool is also indispensable, providing insights into weekly activities, Gross Gaming Revenue (GGR), and revenue generated from your products. Additionally, the ability to impose limits on specific events or leagues for certain players flagged as potential frauds is essential. This requirement calls for an integrated fraud management tool, an integral component of a betting exchange software’s ecosystem.
As online betting exchanges welcome players from all around the globe, embedding multiple language support mechanism can be extremely advantageous in attracting customers. Moreover, your betting exchange software should facilitate integration with a wide array of currencies and payment systems to accommodate all players’ needs.
Swissbet offers cutting edge software solutions in the betting exchange software. With both White Label and Turnkey software, Swissbet offers simple and cost-effective solutions under existing license. It offers an abundance of markets with more than 20,000 matches and 15,000 events per month, with a diverse range of sports and extra bets (at least 20 and 100+, respectively), coupled with added features such as Live streaming, an expansive live betting section, and a cash-out option. Most importantly, a tool helping to determine the commission rate on winning bets is also embedded.
Swissbet provides an innovative, multi-functional gaming platform with the flexibility to integrate desired products, such as a betting exchange and third-party casino. Swissbet also covers end-to-end operational aspects, freeing from the focus on marketing and branding initiatives. It offers a multi-functional and single-wallet gaming platform, enabling integration of numerous products on your platform, from a betting exchange and traditional bookmaker to a third-party casino, all underpinned by a robust back-end for business stability.
In conclusion, betting exchange is worth investing in and choosing the appropriate software can be challenging. It involves solid comprehensions of a number of factors and alignment of these requirements with a platform that allows scalability, security, and superior customer experiences. Swissbet provides a high-end betting exchange software with all the features required to build a robust online betting business with a satisfied and loyal customer base, while venturing into unexplored markets and opportunities.