An excellent software can up your sportsbook business in no time. If you are a bookmaker or working towards being one, choosing live odds software is what you should focus on foremost.
Here is everything you need to know.
What is Live Odds Software?
Firstly, the term ‘live odds’ means the odds displayed by the bookmaker in a ‘live’ match before the match starts.
The bookmaker sets the odds to place bets on or wager. The odds are either set in fractions, decimals, or ratios. For instance, a 4 to 1 odd means the booker wagers four times the amount wagered by the bettor or player.
So an odds software is a betting software that shows odds while the game is still on, i.e., live. This makes it possible for bettors to enjoy betting during the whole time the match is played.
The software can also construct a different variety of bets on different sports games like betting on lines, spreads, totals, match odds, etc.
How to Choose a Live Odds Software
Choosing an up-to-mark software is an important decision to make, especially for a dedicated sportsbook. The success of any sportsbook depends on betting software. Moreover, live betting makes more than 30% profits for a live online sportsbook.
Here is what to look for in live odds software when choosing them:
1. No Delay in Updating Live Odds
An odds software should update the live odds during the game to keep its very essence. Any delay in updating live odds will be disastrous as users will predict the outcome better and exploit the rules. It would even result in huge losses for the business.
2. Supports Multiple Types of Bets
A betting software should also include a variety of live betting options according to different games. For instance, betting on the number of runs scored in a current over, next over, number of wickets by the end of the next over in sports like cricket.
In football, bets could be placed on match odds, total score, and spreads. Similarly, sports like horse race betting, and tennis could use different types of live betting.
3. Variety of Sports
The software should also support live betting on at least the most popular sport games. It should also cover the different leagues of games to allow more players to access your sportsbook.
4. Easy To Understand Interface
All the live odds should be displayed in a self-explainable manner for the bettors to place bets. The interface should be neat, less cluttered, clean, and user-friendly. It should make use of videos, graphs, and infographics to keep the interface interactive and engaging.
5. Live Streaming
Live streaming has become one of the most popular and essential features of live odds software. The pleasure of live betting and watching the game without switching screens is bliss.
Therefore, software providers are also providing live streaming of the match on their platform where the players or bettors can enjoy the match and place live bets simultaneously.
Usually, players like to bet or watch live sports on the go. Extending your live odds betting to mobile devices and all screen sizes would be beneficial in targeting more audiences.
Your sportsbook should not only be accessible through mobile browsers but mobile applications as well. Make sure a poor live odds software doesn’t get in the path of achieving the same.