With the advent of mobile gaming, the online gaming industry has shown significant growth in recent years. The market is showing incredible potential, making iGaming one of the most worthwhile business startups in 2023. Online gaming boomed due to the rising popularity of Mobile gaming. Today, mobile gaming accounts for more than 50% of the gaming industry and there are approximately 2.5 billion mobile gamers worldwide. Entrepreneurs are intrigued by the industry’s potential and are showing interest in igaming software development.
According to Grand View Research, the global online gambling market was valued at $57.5 billion in 2021 and is expected to grow at a CAGR of 11.7% during the forecast period(2022-2030). It is expected to reach a market value of $153.6 billion by the year 2030.
In this blog, we will provide an in-depth exclusive guide on online Gaming software and the cost to develop iGaming Software. But first, let us learn more about iGaming.
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Any type of online gaming that includes betting or gambling can be referred to as iGaming. iGaming (or online gaming) involves playing or betting on the outcome of a game or event through the internet, such as live casino games, slot machines, sports betting, horse racing betting, and fantasy sports. The online gaming industry includes, but is not limited to, sports betting, online casino games, poker games, video games, etc. but sports betting and casino games account for the largest share.
The online gaming industry is one of the fastest-growing industries in the world and there has been an increase in iGaming software providers that offer reliable iGaming software development. If you are looking to create reliable online Gaming software, you are in the right place. Many entrepreneurs are looking to penetrate this lucrative market with their very own online Gaming software. There are various features that you should look for in an iGaming.
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There are several game-enhancing features that should be included in online Gaming software. These features are integral in providing an interactive and immersive gambling experience to the users. While choosing an iGaming software provider, make sure to check the features they are providing.
| Features | Description |
| Cross-platform Compatibility | Nowadays, online Gaming is conducted on various platforms. It is important to ensure that the iGaming software provider provides cross-platform compatibility so users can access your software without any hassle. |
| Easy API Integration | Make sure to choose an iGaming platform provider that offers seamless API integration which significantly enhances the gaming experience. |
| Safe & Secure Payment Gateways | The igaming platform provider must include secure payment gateways that protect the users’ financial information. It is also important to include multiple payment options like PayPal, GooglePay, credit or debit cards, etc. |
| Referral Rewards | Most iGaming software providers integrate this feature into their online Gaming platform to allow users to invite their friends and family to the gaming platform in return for various in-game rewards. This is a great feature that increased the user base and pleases the existing user base simultaneously. |
| Live Chat | The live chat feature allows users to interact with each other using text, emojis and voice. It offers a competitive and interactive gaming experience. |
| Multilingual Support | An online gaming platform isn’t restricted by geographical boundaries and caters to a worldwide audience. Most igaming platforms include multilingual support so users can enjoy the game in their native language. |
| Cryptocurrency Support | Most iGaming platforms now include cryptocurrencies as an acceptable payment method. |
| RNG System | Most iGaming software providers use the RNG system to ensure fair play and unbiasedness in their betting games. |
| 24×7 Customer Support | It is important to provide 24×7 customer support to quickly address and solve users’ queries. |
These are the most commonly used features in an igaming platform that are integral in enhancing the user experience. If you are looking for an iGaming software solution and want to hire an iGaming software provider, make sure they provide these features in their software solutions.
The primary objective of any igaming platform is to attract more users and generate maximum revenue. There are multiple ways to generate revenue in an online Gaming platform and you as a business owner can take advantage of these monetization strategies to generate maximum profit. Here are the most commonly used monetization strategies that have proved effective.
An iGaming software solution can take advantage of microtransactions in the form of in-app purchases to generate additional revenue. These in-app purchases generally contain consumable and non-consumable game assets that have no impact on the gameplay experience whatsoever. You can even provide users with the ability to buy in-game currency or coins so they never run out of money to bet on multiple sports.
The subscription model allows users to buy a specific program in the igaming software to unlock additional content and rewards. These subscriptions generally last a month, after which the users have to re-subscribe to the program. Business owners generally provide exclusive and lucrative in-game assets in the subscription program to attract more users towards it.
This is one of the most commonly used monetization strategies in igaming software solutions. You can display thor-party advertisements in your app or software to generate additional revenue from the software. It is one of the most effective strategies that will help you generate high revenues from your software. However, make sure to place the ads strategically so they don’t hamper the gameplay experience of users.
The Freemium Model allows users to try out an application and then choose to buy it. Users can download the premium version of the software with some locked features. Users are asked to buy the premium version of the software in order to access several features. This revenue model puts the power in the users’ hands and allows them to evaluate the quality of software before buying it.
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The igaming software development cost is dependent on various factors. There are various aspects that must be considered before you can create a budget for your online gaming software. However, choosing a reliable iGaming platform provider is one of the most important things that shouldn’t be overlooked.
The features of online gaming software greatly influences the iGaming software cost. Features of software are one of the most important aspects that enhance the gaming experience. However, make sure not to over-clutter the application with unnecessary features. Overcluttering will increase the app size which in turn increases the online Gaming software cost.
Developing a native-platform application will cost less than creating a cross-platform app. The platforms you are targeting are one of the most important factors that influence the cost to create online Gaming software. However, if you are not tight on budget, you must pick an iGaming software provider that offers cross-platform development.
The technology stack of the development process is also an integral aspect. It is beneficial to choose the tech stack beforehand to streamline the development process. Moreover, different developers and platforms require different sets of the technology stack. Choose and buy your technologies wisely to complete the development process on an estimated budget.
The most important factor which will greatly influence the igaming software cost is the region of the developers. Developers of different regions have different costs. India-based Developers are generally cheaper than USA-based Developers. Make sure to choose the developers according to your estimated budget. Here is an average cost guide-
Designing is another important aspect of development that influences the development cost. It is necessary to include stunning visuals and designs in online gaming software. In order to include high-quality designs in your software, you will have to hire dedicated designers that also charge by the hour. However, if you hire an iGaming platform provider, the development cost is reduced significantly as they provide in-house designers.
Choosing reliable online gaming software can be a daunting task. One must be clear whether you want to opt for a white-label iGaming software provider or wish to hire a top-notch software development company. Gaming has become a highly profitable business with all the upgrades and tremendous growth. To gain this momentum, most igaming software development companies provide class-apart features and quality services to grab the bettor’s attention in today’s market.
It is tough to provide an exact estimate of the igaming software cost as it is dependent on various factors. If you want a quotation, you will have to contact an iGaming software development company. However, on average the approximate cost of creating online gaming software will cost around $30,000 to $50,000 depending on the features and platforms. If you want to develop cross-platform software, the cost can shoot up to $100,000.
| Development Process | Android Platform | iOS Platform |
| UX/UI Design | $2,000-$4,000 | $3,000-$6,000 |
| Native Platform Development | $10,000-$20,000 | $15,000-$30,000 |
| Backend Development | $4,000-$6,000 | $5,000-$7,000 |
| Admin Panel for Web Development | $4,500 | $4,500 |
| Testing & Q/A | $5,000-$7,000 | $6,000-$8,000 |
| Project Management(15% of the estimated budget) | $3,500 | $4,000 |
| Final Cost | $30,000-$55,000 | $40,000-$60,000 |
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The online Gaming industry is moving ahead with full-force. It is one of the fastest-growing industries in the world and displays incredible revenue potential. If you want to create your own igaming casino platform, you should definitely hire a reliable online Gaming software company. BR Softech is one of the industry leaders in iGaming software development and provides reliable and scalable online gaming software solutions. If you are wondering about the cost, we have provided an in-depth guide on the various factors that affect the iGaming Software development cost and have also provided a rough estimate.
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Yes, we provide bespoke igaming software solutions that are tailored according to the client’s requirements.
Yes, an online casino platform is highly profitable. The market is very lucrative right now and shows incredible revenue potential.
iGaming development can prove very beneficial for business as it is a highly profitable business venture in the current market scenario.
