Last year, the betting business suffered from the cancellation of many sports events and the inability of the land-based sector to operate at full capacity. However, the industry is quickly recovering. According to the experts of Gambling Craft, the volume of virtual betting will grow by more than 50% in the next 2 to 3 years.
Specialists of Bett-Market will be glad to tell you about all the nuances of entering the market in the new realities, changes in the legislative regulation of the sector, and the most interesting modern betting trends.
Bets on sports and other events are the basis of any bookmaker’s office. Operators make money on the margin included in the odds of each event. Its size can vary from 3 to 10% or more, depending on the betting market:
the minimum margin (starting from 0%) is offered for large-scale world-class events (for example, the World Cup finals);
quotes above 10% are applied to secondary markets (for example, regional competitions, exotic events or third league tournaments).
The odds for each event are developed by a team of analysts of the bookmaker’s office or with the use of special software.
To organise a full-fledged betting project, it is not enough to use the first offer that comes across in the search results. To get the most successful business, you need to thoroughly study the market, get the advice of respected industry experts, and do large-scale analytical research.
The main stages of development of an online bookmaker’s office:
Registration of a company. In almost all countries of the world, only legal entities can perform betting activities. The exception is Estonia, which privately issues gambling licences to both local and foreign applicants.
Acquisition of a gambling permit. The possession of a licence gives entrepreneurs legal guarantees, an opportunity to attract the regional and international audience, and work at a more loyal tax rate.
Purchase of software. Professional betting software allows you to cover the most popular sports events and timely react to any changes in the market and preferences of modern users.
Website development. Operators are recommended to choose a laconic design and focus on the convenient and intuitive navigation and the internal structure of the gaming site.
Creation of the reserve fund. Entrepreneurs must have enough money to pay off the debts of clients, customise the project, and cover unexpected expenses.
Determination of the way to calculate bets. The project should include a professional team of analysts that promptly respond to market changes and assess any risks.
Promotion of the product. Unlike casino projects, the betting market in many countries has received more powers and opportunities for its promotion. Operators have access to land-based advertising, online marketing tools, as well as television and wire broadcasts.
One of the most respected international offshore jurisdictions that regulates and provides licences to all types of projects (from casinos to sweepstakes).
The main capacity of the local betting sector is concentrated in dog racing, football, and horse racing.
According to statistics released by the UK Gambling Commission, over 50% of the local population prefers to place bets on sports events at least once a week.
In this country, online casinos are illegal but you can obtain a permit on the bookmaker’s activity in almost all states.
Despite the strict control of the industry by the government and the tightening of the rules for the promotion of betting projects, the country remains one of the most gambling-friendly parts of the world. Before the pandemic in 2020, the local population spent about 1 billion dollars annually on sports betting.
Today, there is a tendency towards liberalisation of laws that regulate online betting. The industry is legalised in almost all states of the country but some of them have special restrictions. For example:
in Mississippi and North Carolina, all types of sports betting are available, except mobile bets;
in Tennessee, only online betting is available to users, while the existence of the land-based segment is strictly prohibited;
New Jersey was the first to legalise the mobile sector and is the leader in terms of the amount of taxes that gamblers and operators who are working in the betting industry pay;
in Kentucky, all types of online betting are legalised, including the placement of bets via mobile applications and fantasy sports betting.
Bookmaking is a legal type of business but since April 2019, there are some restrictions for operators. Bets on sports events can be accepted in all regions of the country, with the exception of Tambov, Kaluga, Ryazan, Irkutsk, Chukotka, Dagestan, and the republics of Tyva and Ingushetia.
The norms of the bookmakers' work are provided by the Federal Law No. 244-FZ ― “On the state regulation of activities related to the organisation of gambling projects”.
Here, it is possible to work legally only after the acquisition of a local licence. Moreover, operators get an opportunity to open not only land-based betting shops but also accept online bets and work with the mobile segment.
To enter the Russian sports market, entrepreneurs must not only obtain a local licence but also become a part of a self-regulatory organisation of bookmakers. It develops the rules of the market regulation and monitors their observance.
Besides, on the basis of the self-regulatory organisation, centres for accounting for the placement of interactive bets were established. The task of such companies is to control the financial operations of all participants in the digital sports market.
In order to legally place bets on sports events in the Russian Federation, gamblers must be identified not only on the website of the selected bookmaker’s office but also send personal data to the special department.
On September 29, 2021, a new Resolution of the Government of the Russian Federation will enter into force. It will change the program of the provision of user data to accounting centres.
According to this innovation, information on sports betting participants should be transferred not only to the Federal Tax Service of Russia but also be registered in the database of the Unified Gambling Regulator.
If previously, the data was sent for accounting once every 3 months, then after the new resolution enters into force, the reporting period will be increased ― the reports will be updated no more than once a year.
The sports market operates on a legal basis and allows businessmen to implement both land-based and digital projects. Certification of betting companies is carried out by the local Lottery Licensing Commission.
The tax system of the country involves mandatory contributions from both transaction parties:
bookmakers are charged an annual fixed fee that does not depend on the company's income;
gamblers are obliged to deduct from 15 to 25% of the winnings that exceed 10 thousand drams to the public treasury.
The market is controlled by the Ministry for Taxes and Levies. The organisation issues licences for all types of gambling projects, and operators can simultaneously ask for a permit to open a land-based betting shop and an online casino.
The local taxation system controls fees from land-based cash registers and electronic wallets of bookmakers. The size of the tax table is indicated in chapter 37 of the Tax Code.
The government is also considering the feasibility of introducing a separate income tax on winnings. The estimated rate is 4%.
The population of the country has access to both local and international websites. At the same time, the government reserves the right to block “unreliable” resources.
Mandatory tax on betting activities:
for the land-based sector ― 15% of the annual revenue;
In light of the mass transition of the industry to the digital segment, the market has undergone large-scale changes not only in the technological aspect but also in the range of provided services.
The main trends in the betting niche in 2023
Mobilisation of the market
Mobile services provide operators with many benefits, including:
significant expansion of sales markets;
the ability to optimise the gameplay as much as possible;
multiple increases in the speed of data processing;
the ability to bypass the blocking of gaming sites
With the cancellation of traditional sports events during the pandemic time, eSports has become one of the few alternatives to standard betting.
The industry already has several million active fans, and it continues to grow rapidly.
The segment is so popular due to:
unpredictability of matches;
wide range of bets;
odds with the high margin
Cryptocurrency payments
One of the most popular methods of payment in 2023. Settlements in virtual coins can significantly expand the geography of the market and guarantee the anonymity of participants
Growth of the demand on exotic bets
During the pandemic, non-standard bets began to be more and more popular. In this segment, bookmakers were able to show all their imagination, accepting bets on:
events from the world of cinema and music;
show business;
political events;
weather;
stock quotes and even bets on the date of the end of the world
Betting in the Livescore format
These are specialised gambling platforms with support for live streaming. With the help of this service, clients of bookmakers can monitor current events in real-time.
The lowest possible factor of luck and the ability to use detailed statistics by changing bets during the game are special features of live projects
Despite the global economic crisis, the betting market was able to quickly adapt to new realities and is actively ramping up its potential.
The main trend of 2023 is a large-scale transition of the market to the digital format. Due to the inability to work at full capacity in the land-based sector, bookmakers began to conquer the virtual market. Moreover, they are focused mostly on mobile users.
One of the largest sports markets in the world is the United States of America. Due to the federal structure of the country, the betting industry is controlled at the level of each of the states. The industry is legalised in 13 regions. The complete legalisation of the market will provide the country with annual revenues of 400 billion dollars.
In September 2023, the new rules for working in the Russian sports market will come into force. According to the innovation, online operators will have to provide data on users and financial transactions not only to the tax office but also to the Unified Gambling Regulator.
For more detailed information, please contact the specialists of the Bett-Market studio. We are abreast of all changes in the industry and can offer you a wide range of products for the implementation of gambling projects of any format.
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Bookmakers' Offices in 2023: Open a Turnkey Betting Business
