Unless you are already an experienced operator and have a great relationship with your white-label provider, running a sportsbook as a turnkey can be costly and can cut into your profit margins. This is because most of these sports betting solutions charge you a flat monthly operational fee. If your business is not profitable in the off-season, this can easily eat into your profits and if you are busy during major events, it may even cost you more than what you’re making in some months.
Another mistake that many sportsbooks make is limiting their betting options. If you offer only a few leagues or just a handful of bet types, users will soon get bored and will find another betting app to use. In addition to this, if your app has performance issues, users will quickly lose their trust and will stop using it.
In order to avoid making these mistakes, you should consider opting for a custom sportsbook development solution that can provide you with all the features and customizations that you need. With this solution, you can make sure that your sportsbook is unique and stands out from the competition – especially if you are targeting a specific market. This can also give your users a more personalized experience and show them that you value their loyalty and want them to keep using your product. Another good way to show users that you care about them is by including a reward system in your product.