When we think of popular sports, games like football, cricket, and rugby come to mind. But what we often forget to include in that list is horse racing. Horse racing is extremely popular in both Europe and the United States. Races with prizes worth millions of dollars are organized there every single year.
The excitement is not just contained to the thrill of seeing all the horses shoot to the finish line — there is also a strong gambling aspect. Not only that, but Finland and Sweden also spend billions of dollars every year betting on it.
A number of horse racing apps and websites have been growing exponentially in popularity and usage. This has opened the doors for investors to heavily invest in such projects.
In this post, we’ve got you covered with all the necessary information you need for developing a horse racing application.
Key Features of a Horse Racing App
Before you start your own horse racing application, it is important to understand some of the key features which a horse racing handicapping app must-have. A list has been prepared for those features.
1. A spectrum of Horse Racing
Horse racing is a gigantic sport and it is safe to assume that there are thousands of horse races being conducted every single day all across the globe. Hence, it can be difficult for any user to get information about a specific horse race within a region.
It is recommended that the developer considers the entire spectrum of this sport and come up with various filtering features that would allow a user to view information related to the horse race which they might be interested in.
2. Live Streaming Option
There are many highly anticipated and popular horse racing events that are held every year. To gain more users or viewers, it could be beneficial to also provide live streaming options for certain horse racing events. This would increase the comfort of all users while using your live horse racing app.
3. Betting Option
Horse racing is fun but if betting is included in that equation then it can bring more interest in users. It would be worthwhile to consider adding the betting option to horse racing apps for Android phones as well as for iPhones. It may influence the development costs, but will further provide various monetary benefits.
4. Payment Gateway
If a betting option is present within a horse racing app for Android then a payment option would be necessary too. This allows for all the monetary transactions or payouts to take place online instantly and with ease.
5. Considering the Multilingual Factor
To make the application work globally, it is always good to introduce it to country-specific users in their mother tongue. This not only creates interest in users but also make it user-friendly. This is why it can be good to keep the multilingual factor in mind while designing the application.
6. Setting Up Rules and Regulations
There should be certain rules and regulations which must be placed within a horse racing app for iPhone/Android so that all issues related to gambling or any other aspect related to horse racing can be addressed in a fair and legal manner. This part of the application is indispensable.
7. Facts and Figures
There will always be a possibility to find new people who would be interested in horse racing and what better than to gain a bigger audience by providing them with useful information and facts. This can also be presented as a guide for people who are beginning to bet on horse racing.
8. Security Features
Everyone takes the utmost care about their personal information. As the owner of any horse racing application, you should take an active interest in protecting the personal data of all your users. This is why security features must be set up from the start so that you can beat the competition.
Best Horse Racing Applications
There are many horse racing applications that have shot to popularity during the past few years. The two most popular are At the Races and 888 Sports.
During the 2016 Broadcast Digital Awards, “At The Races” was voted as one of the best applications. It was developed by one of the best racing companies in the United Kingdom.
This application has racecards from a number of countries including Hong Kong, the United States of America, South Africa, Dubai, and France. It includes some interesting features like highlights, sportsbook information, and in-app betting. The app is available for free to download.
“TwinSpires Horse Race Betting” has a high level of trust and gets often listed as one of the best mobile apps on the market. This horse racing betting app is the official partner of the Kentucky Derby. Users can bet on 150+ tracks all over the globe including Belmont Stakes, Preakness Stakes, and Breeders Cup. This app features live video streaming of current races as well as offers numerous promotions, weekly bonuses, free expert analysis and handicapping. The app is free to download for iPhone and iPad.There are many other good horse race track apps which you can find on the App Store and Play Store for inspiration.
What Will Bring You Success in Building Your Horse Racing Betting App?
If you wish to achieve success by building your own betting app for horse racing then you shouldn’t opt for those tried and true methods. Instead, what you need is a whole new development strategy. Here are a few things to keep in mind before you propose this project to any development company.
1. Defining the Target Audience and Country
The first thing you need to do before getting your horse race app developed is to think about your target audience. Make a list of all the countries where you would like to push your horse racing application. This will make it easier for you to decide on other matters of concern and easily get a solution to any problem which you might face later.
2. Choose the App Type and Decide the Features
There are also different types of apps for horse racing, like horse exotic wagers applications and straight wagers applications. Both of these apps have their own specific features and are suited to different types of audiences.
For example, straight wagers applications are best for beginners while exotic wagers apps are more suited for experts. Choosing the type of application will also make it easier to choose the exact features which you would want in your application.
3. Look for Other Additional Features
Apart from the main features, there should be something that sets your application apart from competitors.This is why it is important to think of some unique features (like advanced tips, news, audio streams in addition to video, etc.) at this point and include them within your app.
4. Come Up with a Development Schedule
To develop a horse racing bet calculator app is not a task which you will be able to complete within a few hours or a day. Even before starting the work on the project you would have to make sure that you are aware of the latest application development technologies.
After that, you can begin with the development of your application. The planning, designing, and development could easily take around six months if you already have an in-house team of developers. Testing and marketing are also time-consuming phases which can take anywhere from a few days to weeks.
Therefore, it is best to come up with a schedule so that you are able to keep up with your everyday life events and your iPhone or Android horse racing app project at the same time.
5. Think About the Ability to Scale the Project
It is also a good idea to have some thoughts regarding how you would want to scale your project in the future. For example, you could increase the number of targeted countries or provide better live streaming facilities.
How to Make Money with Horse Racing Betting App
A Horse Racing Betting Application can be built in two ways to make money out of it.
Straight Wagers Application
This type of application is simpler and more fun as it allows an individual to only make a single bet at a time. You can make a profit through this application by setting a betting fee that a user would have to pay before putting the bet in.
Exotic Wagers Application
This type of application is for users who have been betting on horse races occasionally or want to do multiple bets at the same time. These applications have higher profit potential as you can charge higher fees for every extra bet made or you can also choose to keep the betting fee constant and simply get more profit with every new bet.
You can also earn revenue through your horse bet calculator app via:
- In-app purchases
- Selling virtual coins
- Betting with real money
- Completing payments for virtual currencies
- In-app advertisements
- Unlocking premium features
How Much Does it Cost to Build a Horse Racing Betting Application?
According to rough estimates, the cost to build a horse betting app for Android can range anywhere from $38,000 to much higher. However, it is important for an individual to know that this is not a set amount.
The cost of building a horse betting app can be influenced by many factors, like the functionality of the application, design, the number of features within the application, technology stack, the platform of your choice, and many other factors. A development approach should also be taken into account — whether you opt for local developers or hire an outsourced company. With the latter option, the development costs can be significantly reduced
Competitive sports can be mentioned in the middle of any dull conversation to turn it into something highly energetic and palpable. Men and women from all walks of life spend billions of dollars every year betting on their favorite sports team or player.
If you are impressed with the idea of developing a horse racing gambling application and want to get in on the industry then you should develop your app. But this task might be tricky if trying to do it on your own.
This is why we recommend you come to Lotasoft for horse race betting application development services. We provide the best quality services at a very reasonable cost. This means that you can start making money off of your horse racing application in no time!