According to Statista, the online sports betting market revenue will cross US$ 65.14 billion by 2029. What’s more? The number of users in the online sports betting market will hit 182.5 million by 2029.
These statistics show that the online sports betting market is set to explode—and how!
If you’re an iGaming brand or manager, now is the time to maximize your efforts and acquire users.
The opportunity is massive, and when approached strategically, you can hit your goals.
However, there are challenges:
- Some believe online betting isn’t safe.
- Others think it’s illegal.
- Many don’t understand how it works and shy away.
In this post, we’ll demystify online betting for potential bettors and share actionable tips for iGaming brands to create a responsible, safe betting environment where players can enjoy online betting games without fear.
What Is Online Betting?
Online betting means placing bets on sports, casino games, or other events through digital platforms like websites and mobile apps.
For instance, a bettor could bet $200 on Team A winning against Team B in a football match. If the prediction is correct, the bettor earns a payout based on the odds set by the brand (the online betting platform).
Unlike traditional betting, bettors don’t need to visit physical locations like casinos to participate.
How Does Online Betting Work?
Let’s now understand how online betting works –
- Account Opening: The online betting user needs to register on the online betting platform. They can be asked to provide details like name, email, legal age, etc. Once the account is verified, the bettors can log on to the platform.
- First-Time Deposits: Bettors must deposit money into their accounts through payment options such as credit/debit cards and digital wallets.
- Betting Odds: The bettor must understand the concept of online betting odds. This can help them make informed bets confidently.
- Decimal Odds: They reflect the total return per unit wagered, including the stake. For instance, an odd of 2.5 indicates that the winner will collect $2.50 for every dollar risked. This comprises the initial money bet ($1 stake + $1.50 profit).
- Fractional Odds: The format is 3-1, which means a risk of $1 can help the bettor gain $3.
- Moneyline Odds: Positive (+150) or negative (-150) numbers showing a profit or required wager (common in the US).
- Event and Bet Type: Bettors browse options like predicting the winner (moneyline), guessing point spreads, or betting on combined outcomes (parlays). We will discuss this in the following section, explaining different types of bets.
- Results and Winnings: When a bettor wins, the online gambling platform credits his account with the win. For example, $100 stake at 2.0 odds = $200 win.
Key Components of Online Betting Platforms
Now that you’ve understood how online betting works, let’s explore the key components of betting platforms.
1. Odds and Markets
Odds and markets determine how bettors engage with online betting games and events.
Markets refer to the various betting options, such as props or parlays. On the other hand, odds reflect the probability of an outcome and, therefore, decide the potential payout for a winning bet.
The odds and markets guarantee a varied and interesting experience for online bettors.
2. User Interface (UI)
A clean, intuitive user interface ensures a smooth betting experience.
Hence, online betting platforms must offer tailored features like favorite sports, bet history, and quick links to preferred markets.
What’s more? According to a recent survey, 53% of online bettors used smartphones (with iOS operating systems) to place bets worldwide in the previous twelve months. Only 23% used laptops for online sports betting.
Since most bettors use mobile phones, a responsive and user-friendly mobile online betting app is crucial. Observe the best online betting apps in the market to understand their strategy. This can help you get started.
3. Security Measures
Online betting platforms must build trust with their audience, which is crucial for acquiring FTDs. So, they must implement encryption like SSL to protect user data. Besides, the platforms must have a license and adhere to local regulations and safety measures to ensure legal and safe operations.
Different Types of Bets
Here are the key types of bets in the iGaming industry.
- Moneyline Bet: This is quite a straightforward type of bet, where the online bettor chooses a team and predicts the outright winner of the game. For instance, betting on Team Spain to win against Team USA in a football match.
- Point Spread Bet: This bet focuses on the margin of winning. For instance, the bettor could bet on Team C to cover a -6.5 spread, reflecting they must win by 7 points or more.
- Over/Under Bets (Totals): These bets involve predicting whether the total score of a game will go higher or lower than a given score. For instance, betting on over 200.5 in an NBA game means the bettor expects the combined score of both teams to cross 200.
- Parlay Bet: This involves a combination of multiple bets, where all selections must win for the bettor to cash out. For instance, the bettor might combine bets on three basketball teams winning matches in a single parlay.
- Prop Bet: Here, the bet focuses on specific events or game outcomes rather than the final result. For instance, the bettor might bet on Player A to score the first goal in a soccer match.
- Futures Bets: These are long-term bets where the bettor places bets on future outcomes. For instance, betting on a specific team to win the league championship before the season begins.
- Live (In-Play) Bets: As the name states, these bets are placed in the ongoing game. This allows bettors to adjust their wager based on how the game unfolds.
- Each-Way Bet: This bet splits your stake between a win and a place (finishing within a particular rank). This type of bet is popular in games like horse racing. For example, betting on Horse X to win or place in the top three.
5 Tips to Grow and Build Your Betting Business
Here are the five key tips for growing and building your betting business.
1. Build a Responsible Betting Website
A well-designed online betting site is not enough to build a responsible betting environment. It’s never all about the design for the iGaming industry.
Sure, the design plays a key role in the world of online betting. For instance, easy-to-use navigation and SEO optimization help, but more than that, the website should ensure bettors feel safe.
Ensuring a responsible website is the key.
Here’s how to ensure this –
– Add content that is well-researched and accurate. It must reflect the laws of betting and gambling and the associated risks.
– Create a section to educate bettors. Add short videos, infographics, and more to help them understand how the betting industry works.
– Add safe and secure payment methods to ensure a legal online betting site.
Check out our detailed blog post on creating a betting website in 2025 and beyond (yet to be published) to build the best online betting site and boost your website’s performance.
2. Create High-Converting Betting Ads
The right ads can help attract users who are more likely to make first-time deposits.
So, work on creating high-converting betting ads that resonate with online bettors.
For instance, create ads that –
– Offers attractive welcome bonuses and offers.
– Includes clear and actionable CTAs (“Claim Your Bonus”) to encourage user action.
– Includes social proof like success stories. This can help build trust.
– Leverages engaging imagery, videos, and personalized messaging.
Refer to our detailed blog post on how to create high-converting betting ads (yet to be published) for more actionable tips.
3. Use Social Media to Promote Safe Betting Practices
Social media is a powerful tool for connecting your business with potential users. Reports state that 63.8% of the world’s population uses social media.
So, leverage it strategically to achieve the best outcomes while promoting responsible betting habits.
For instance, craft content that highlights safe betting practices, such as –
– Online betting tips to limit spending and game time to maintain control.
– Educational posts about the risks involved in betting.
– Strategies to address potential gambling problems.
Social media campaigns following this approach can boost engagement and help position your iGaming brand as a responsible betting platform.
4. Leverage Affiliate Marketing for User Acquisition
iGaming affiliate marketing is one of the most effective ways to acquire new users who make FTDs (first-time deposits).
Affiliates can help your iGaming platform gain the right exposure. For instance, they can leverage blogging, social media, and other channels to boost your brand’s visibility.
However, managing affiliates can be time-consuming and draining. You must constantly track their performance to ensure every dollar is well spent.
That’s where our state-of-the-art tool – Affnook, can help. Our iGaming affiliate management software, Affnook, offers powerful features, such as:
– Performance Tracking: Affnook’s unified dashboard can help monitor how affiliates contribute to your campaigns. You can identify top-performing affiliates and what’s working best. This can help make strategies that bring maximum ROI.
Real-Time Granular Reports: Our software offers reports with a clear view of affiliate performance, conversions, and more in real-time. Leveraging these insights can help you make informed choices and adapt to market changes.
– Fraud Prevention: It helps you safeguard your iGaming platform from online fraudulent activities. Affnook’s iGaming fraud detection detects suspicious behaviors like fake leads or repeated clicks, protecting your revenue. This can help build trust with users and affiliates.
5. Adhere to Online Betting Regulations
Every country and state has different laws regarding online betting. So, it’s crucial to adhere to iGaming legal compliance to avoid legal issues and maintain your iGaming brand’s credibility.
For instance, online betting is regulated according to different state laws in the US. So it’s crucial for the online betting platforms operating in states like New Jersey to have proper licensing. Moreover, they must ensure their offerings meet strict guidelines.
This practice sets you apart from competitors and helps build long-term customer relationships.
Conclusion
From concerns about safety to ease of play – online betting has several myths around it. This confuses the potential bettors.
So, iGaming brands must educate their audience and implement the right tools to ensure safety and security.
This helps attract bettors, build credibility, and develop a positive reputation in the market. Moreover, implementing the tips shared in this post can help you achieve your goal.
If you are interested in iGaming affiliate software, Affnook can be your reliable partner.
Ready to boost your iGaming strategy? Contact our team to get started today.
