What is Social Sportsbook Software? How to Develop One?

Social sportsbooks are becoming more and more popular since they are a wonderful substitute for sports betting for people who are looking for a legal way to support their favorite sports team. They offer an experience combining social connection with the thrill of betting on live sports events.

These social platforms let users gamble using digital currencies instead of actual money, so they operate especially differently. They also give the option to redeem their sweepstakes token won for actual prizes. This will provide a whole new opportunity for sports betting fans.

What is a Social sportsbook?

In social sportsbooks, you can actually bet using digital currency rather than using real money. This sportsbook provides an excellent experience based on social interaction and entertainment. You can also redeem the sweepstakes coin for actual rewards. These social sportsbooks are distinguished apart from the conventional sportsbooks, which are only permitted to provide their services in roughly 20 states today, as there is no actual money betting involved and they operate under US sweepstakes regulations in 40+ US states.

How Do Social Sportsbooks Work?

Social sportsbooks let users lay bets in a risk-free environment by combining the thrill of conventional sports betting with the integration of social gaming. Unlike real-money sportsbooks, social sportsbooks let users gamble on their preferred sports events without financial risk by using virtual currency or tokens rather than actual cash.

These sites sometimes include leaderboards, accomplishments, and challenges meant to increase user involvement, therefore transforming betting from a passive to an active activity.

The free-to-play approach of social sportsbooks is one of the main features that draw new users. Many sites use AI analytics with real-time data to provide consumers with insights about odds, match predictions, and game statistics.

Although there is no actual wagering involved, users may redeem awards, in-game bonuses, or loyalty points usable on the site or traded for goods, prizes, or even exclusive VIP events. For those who appreciate the strategic component of sports betting without financial risk, this makes social sportsbooks an interesting option.

Social sportsbooks are revolutionizing sports betting companies by providing an interesting and risk-free environment, thereby increasing player accessibility, interactivity, and engagement worldwide.

Are Social Sportsbooks Legit?

If you know a thing or two about sweepstakes casinos, it wouldn’t surprise you to learn that social sportsbooks are also in a similar legal situation. These social sportsbooks don’t operate with real money; therefore, they won’t be categorized as gambling sites.

Access to several sports leagues, picks, competitive odds, and markets worldwide will be made available by these social sports betting sites. The finest thing is that making sports predictions relieves you of legal concerns or initial expenses. Still, you can redeem monetary awards in line with the sweepstakes concept.

How to Develop a Social Sportsbook Software?

Creating a social sportsbook software requires the integration of social engagement features and sports betting capabilities along with a virtual coin distribution system. It is crucial to know about the Social sportsbook platform development process if you are thinking about developing one. 

The best social sportsbook software provider, like TRUEiGTECH, makes sure to follow all these steps and offers you the best sportsbook platform. 

Key Steps to Develop a Social Sportsbook Software

1. Market Research and Audience Analysis

Before developing a social sportsbook software, it is crucial to learn about the demographic behaviors and preferences, and where to launch your software. Research current social sportsbooks to find effective elements and areas for development. 

2. Define Core Features

Betting options are the crucial factor to consider while developing a social sportsbook. Make sure your software offers a wide range of sports and betting markets to attract all kinds of betting enthusiasts. 

• Use live chats, forums, and leaderboards, among other tools, to encourage community involvement.
• Use rewards systems, badges, and achievements to improve user interaction and retention.
• Create a mechanism allowing users to engage without involving real money by combining virtual currency like gold coins and sweepstakes coins.

Integrate Real-Time Data Feeds

You have to make sure that the software provider offers reputable data sources to deliver updates and real-time statistics. Live streaming and live betting options could help to improve the betting experience.

So, we at TRUEiGTECH make sure to offer you the real-time statistic updates so that your platform can offer the best betting experience.

Develop a User-Friendly Interface

Creating a platform that ensures good user experience is important. The responsive design and easily navigable UI work across desktop computers, tablets, and mobiles.

Monetization Strategies

Your platform should offer premier features for purchasing and offer in-app purchases. This way your platform can generate revenues.

Testing and Quality Assurance

Each and every step should be tested and rectified and go through iterations while developing the best social sportsbook software. At TRUEiGTECH, our technical team ensures that your software is well built without any compromises in quality. And our support team will stay in touch with you in case of any emergencies even after delivering the product.

Launch and Marketing

The final step in this social sportsbook software is launching the software. Launch the platform into the market and start marketing your platform. Promote affiliate marketing, which is one of the famous methods in the iGaming sector. 

This is how each social sportsbook software is developed and delivered. At TRUEiGTECH, we take complete responsibility from the first step and always keep our clients in the loop for their feedback. We deliver customizable software that fits the operator’s requirements.

Must-Have Features of Best Social Sportsbooks

Social betting sites are becoming more and more popular, which is driving a boom of new platforms that are starting to satisfy the increasing need. If you are going to develop the social sportsbook software that fits into the current market trends, you should make sure that your sportsbook provider creates your software with these features.

Free Coins

Free coins are one of the basic features of any social sportsbook. These sites should make sure to give free coins and also mandate the “No Purchase Necessary” feature. People coming here for free coins, many websites merely offer a meager supply of free coins. So, if your social sportsbook provides an ample amount of free coins, you are going to pull more users.

Social sportsbook users expect a daily wheel of free coin supply where they can gather up to 1,000 VC (Virtual Currency) on your site every 24 hours.

Live Betting

Unlike common assumptions, live betting is not limited to conventional sportsbooks. Although many social sportsbooks lack in-play betting features. But if you don’t want to be washed away by this wave, you need to make sure that your social sportsbook software has a live betting feature.

Diverse Sports and Markets

The common belief is that social betting applications have fewer sports and betting markets than conventional sportsbooks.

Our TRUEiGTECH’s social sportsbook software offers a more varied spectrum of betting choices than many ordinary sportsbooks by adding money lines, props, parlays, and round robins among more than forty sports and over 100 betting markets. 

Redeemable Rewards

The feature of social sportsbooks that makes the most difference is the free access to make sports predictions. Many sportsbooks are developed with the feature of a sweepstakes concept, which lets the user redeem rewards.