Table of Content
The horse racing market is extensive, and with mobile betting leading the charge, more and more consumers are showing heavy interest in this industry.
If we talk about the horse racing industry, the surge of mobile applications and other digital platforms boosted the market size to $4.38 billion in 2023. However, these figures are constantly growing, and the market has indicated that it will reach $8.67 billion by 2031, growing at a CAGR of 8.89% from 2024 to 2031.
But what about the horse betting market? Horse betting has been a cornerstone for every horse racing fan and enthusiast. Their love for horse racing doesn’t end in the traditional way; now, with mobile applications and digital platforms, it has grown explosively on a large scale.
According to Allied Market Research, the global horse racing betting market was valued at USD 44.3 Billion in 2022. These figures are greatly rising as it is projected to reach USD 91.2 Billion by 2032, growing at a CAGR of 7.6% from 2023 to 2032.
Well, these figures are promising, and one individual thinking of entering such an industry can surely leverage the market to grow their business rapidly and sustain their revenue flow.
Get to know everything about the Horse racing app development process, its landscape, key features, cost, choosing the right partner, monetization models, and legal compliance a business must adhere to. This guide offers a complete informative guide on horse racing app development; therefore, keep on reading till last.
𝗗𝗲𝘃𝗲𝗹𝗼𝗽 𝘆𝗼𝘂𝗿 𝗛𝗼𝗿𝘀𝗲 𝗥𝗮𝗰𝗶𝗻𝗴 𝗔𝗽𝗽. 𝗚𝗲𝘁 𝗮 𝗤𝘂𝗼𝘁𝗲 𝗕𝗲𝗹𝗼𝘄.
The horse racing app market has been evolving rapidly in recent years as technology continues to advance, mobile device usage increases, and online betting becomes more popular.
Horse racing apps have carved out massive niches, whether setting bets, streaming live races, including real-time stats, or engaging the community. This part will cover the current trends, the most popular app types, and their target audience.
Key Trends in Horse Racing App Usage—>
Live Streaming
Horse racing fans may not genuinely like betting but love horse racing, and live streaming has been a game-changer.
Meanwhile, real-time apps enable users to keep engaged, regardless of location.
This insatiable need for real-time information and live video streams has compelled app developers to incorporate effortless streaming provisions, making the entire journey across the app more breathtaking.
Sports betting apps such as Betfair and TVG are at the forefront of offering seamless, high-quality action for avid fans.
Betting Integration
Placing bets is one of the central functions of most horse racing apps.
Apps have come a long way from displaying odds and have gone to advance in-app betting features such as in-play odds, multi-bet, and cash-out features, making the betting experience as simple as possible.
Mobile betting has opened up a captive audience that has become significantly more active.
For example, TwinSpires, Bet365, and others have further profited from this, providing top-notch betting sites with live streaming and data analytics integrated.
Data and Statistics in Real Time
Horse racing apps have tips, stats, and comprehensive data, makes them an invaluable for users looking to gain an edge.
Whether it is past performance data, jockey and horse form, or odds, apps that scoop up and parse millions of bytes of information make it easier for bettors and fans to be informed.
Top apps like Racing Post and Equibase claim to offer the best information on races, horses, jockeys, and trainers.
Betting Apps
Betting apps are still the top category, allowing users to place bets, view odds, and follow live updates on races. These apps are focused mainly on those who want to participate in wagering, and most include a full suite of features, including live betting, odds comparison, and multi-race betting. Some examples of these are Betfair, William Hill and Bet365.
Who It’s For: Gamblers, bettors, and anyone who loves the thrill of live wagering.
Pros: In-play wagering options, accurate odds, dependable transaction processing.
Cons: Beginners can tend to feel lost as advanced betting options and gambling risks are involved.
Live Streaming Apps
These apps will be attractive to users who are less interested in betting and more in watching the races. Thanks to that, there are plenty of quality TVG and WatchESPN like live streaming apps available for users who need a seamless, immersive viewing experience.
Pros: High-definition stream for all available races; can be used on multiple devices.
Cons: Less interactive than betting apps, fewer data features.
Information/Stats Apps
Apps that supply detailed information, tips, and race stats are essential for enthusiasts and serious bettors. They are focused on real-time data, track conditions, horse performance, jockey numbers, and more. Apps such as Racing Post provide richly detailed data and tips, which allow users to trace horses’ past performances and predict outcomes based on them.
Audience: Data-oriented bettors, analysts, and fans looking for deeper knowledge.
Pros: Detailed and accurate information regarding various race events, historical performance records, and predictive analytics.
Weaknesses: Can be intimidating for beginners and requires expertise to leverage the available data.
Social/Community Apps
These apps help create a community surrounding the sport, letting fans chat about races and exchange tips, to name a few. There are discussion-oriented platforms like RacingTalk that provide message boards, forums, and social features for fans to share insights and predictions.
Ideal users: Social users are fans who love to share their opinions and like to present their opinions as a community.
Pros: Community interaction, exchange of tips, community-driven content.
Weaknesses: Not as concentrated on betting and live streaming features, which may narrow the appeal for users whose interest is in the races themselves.
Here are the list of top key features that one should consider when developing a horse racing app.
App Features for Users—>
User Onboarding
This feature allows users to register in the app through various ways, such as mobile numbers with OTP, Facebook, and Gmail. After successfully logging into the app, users can access the user dashboard, where they can maintain their profile by adding pictures and personal details.
Live Race Streaming
Live race streaming is another one of the vital feature of the horse racing app. This enables users to watch live horse racing events with all the important details like lap time, horse and jockey details, etc.
Real-Time Odds & Result Updates
This feature allows users to view and manage various real-time odds for upcoming events as well as results updates, which is essential for bettors to assess their choices and potential payouts.
Detailed Horse Profile and Past Performance Data
The app will show detailed profiles for each Horse and jockey, offering real-time insights into their past performance data, ability, statistics, and other backgrounds that can help users make informed betting decisions.
User-Friendly Interface and Navigation
A user-friendly interface is the most important feature of horse-betting software, as it enables users to navigate smoothly. A user-friendly app interface boosts user engagement while developing an amazing customer relationship. It promotes your brand image, offers users hassle-free accessibility, boosts your standing in the market, and enhances the overall app experience.
Personalized Notifications & Alerts
Notifications are the most important feature in the horse racing betting app, and they allow app admins to send personalized push notifications about new events, upcoming races, etc., to all their users. App owners can use the notification to motivate them to keep intact with their apps for longer hours.
Multiple Payment Integration
This feature enables users to do seamless transactions in multiple currencies, including cryptocurrencies for deposits and withdrawals. Through this, app owners can target broader audiences from different parts of the world.
Social Features
Social features like chat, forums, and sharing are the most relevant features of horse racing apps. This feature allows users to share their insights about the events or betting tips and chat with other enthusiasts, as well as race picks, bets, and achievements on social media to boost engagement.
Betting Features with Range of Sports
For users who enjoy betting while watching horse racing events, this feature ensures that those who enjoy betting can do it easily, in real-time, and efficiently. Also, there is a wide range of horse racing sports available, like flat racing, steeplechase racing, harness racing, endurance racing, quarter horse racing, and maidan racing.
Customer Support
The customer support feature is the most intriguing part of the horse racing app development solution, letting users connect with the support team in a few clicks for instant issue resolution.
Refer and Earn Program
This feature lets users invite non-app users to the platform via an in-app refer link. Through this app, users can share the app link on WhatsApp or any other social media. In exchange for each invite and the user’s first deposit, both the old app users and the new app users will earn rewards, which they can use to place bets on the horse racing.
Admin App Features for Business Owners—>
Admin features are crucial and essential, and they allow app owners to manage their horse racing betting app business effectively. Here are some of the key admin control features.
Admin Dashboard
The horse racing app development offers admins a dashboard from where they can access app performance and health and know how well they are performing against others.
User Management
This feature allows admins to get easy access to all their users, manage all the activities, and edit and view profiles as per the requirements. They can also ban, block, or remove users if they seem suspicious within the app.
Wallet Management
This feature allows admins to keep track of users' transactions, such as how much they have deposited, made withdrawals, and earned. All these are accessible through the wallet management admin control feature.
Notification Management
Admins can manage all the notifications and alerts they send and personalize them to keep the users updated with all new things that are going to happen regarding horse racing events, betting, etc.
Advertisement Management
The admin control app allows owners to effectively manage all in-app advertisements, including adding more and removing the existing ones in the best possible way that doesn't affect users' app experience.
Training Modules and Betting Guide
This feature allows admins to educate their users with effective ways to use the horse racing application and make the most of their betting activities.
How to develop a Horse racing app? Horse racing betting software development is a raw vision that requires a vigorous approach and attention to detail to bring it to life. The process is not as simple as it looks, but you will need a dedicated technical hand on your side who understands your vision and tailors your app accordingly for your targeted audiences.
Here are the steps that are simple to evaluate and follow. By following these horse racing app development processes, you can build apps that not only offer value to your consumers but also stand out in the competitive market in the long run.
Idea Validation and Market Research
Here is the step-by-step guide for horse racing app development. You have to know the ins and outs of your business to ensure your app is a good idea. Because your app should give real value to your users, you should figure out how your idea will help them.
Start by asking yourself
At this stage, there are lots of questions to ponder, and it's important to answer them before you get your hands dirty in development. Speak with your team to determine what's essential for the initial launch and what can wait. Researching in this way will help you answer questions you have for your horse racing app.
Learn From Your Competitors
At this stage, your competitors are your best teachers. Researching their products to check what makes them successful or if they fail is important. By analyzing their products, you can identify market gaps that your application can fill. Take note of what users say about their apps, and look at how you can improve yours. Don't just take a look at what they're doing; also examine why. What kind of marketing strategies do they use? How do they monetize their apps?
Market research will give you an overview of the market and help you understand your target audience. This step isn't just about copying what others are doing but understanding why they're succeeding. By investigating competitors, you can figure out how to stand out in the market. A SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats) can be very helpful here. It helps you understand your competitors' strengths and weaknesses, as well as identify opportunities and potential threats in the market.
Know Your Audience
Also, you need to know who you're trying to reach. Keep your audience in mind:
If you want your app even to reach a global audience, this research becomes imperative. So you will have to understand the preferences of the different regions a lot. Think about cultural differences, language barriers, local gambling rules, etc. This is sometimes referred to as "global needs gathering."
How to Gather Information?
There are various research methods for obtaining the right information. Some options include:
By combining your vision with thorough research, you'll lay a solid foundation for your app's success in a competitive market. This groundwork is essential for success in this competitive market.
Defining the Scope and Features
Now, you know what your app should be doing as you have done your market research. To do this, you determine exactly how you want your app to work and what features you want to provide in your app, and this stage is also where those creative juices flow. Do not attempt to cover it all in one post! Focus on the killer features first, then add the rest.
Consider what your users actually need. What pain points does your app reduce for them? What will cause them to want to use your app rather than someone else's? Compile a list of every feature you can possibly think of, and determine which are absolutely necessary for the first version of your app.
You'll also want to consider your budget and your timeline. However, some features are harder and time-consuming to develop than others. You may need to decide what to include and what to leave out for now. Reach out to your development team so you can better understand the cost and timeline involved.
One big concept here is the Minimum Viable Product (MVP). The MVP is the version of your app that has enough features to attract early users and validate your idea. Rank features by user value, your business objectives, technical viability, and expense.
Make sure features are divided into must-have, nice-to-have, and future features. That helps you narrow the initial scope of your launch so you don't go down a rabbit hole. You will need to cooperate with your development team closely to ensure that your MVP is practical and feasible.
UI/UX Designing
The design of your app is equally important as its features. A good UI and UX make your app easy to use and enjoy. Think about the journey your user will take through your app. Is it intuitive? Do they find it easy to find what they are looking for?
The design should be clean, modern, and on-brand. Proper Use of High-Quality Images and Graphics If you are expecting your app to be a grand success, make sure you pay its UI/UX design the attention it deserves.
User-centered design is key. Know your audience and their needs. What do they expect or desire from a horse racing app? How do you streamline their journey as much as you can?
Pay attention to personalization possibilities and accessibility. Wireframing, prototyping, user testing, and visual design are all integral parts of the design process. Of course, we highly recommend working with a professional UI/UX designer. This is where they can help bring your vision to reality and create a winning user experience.
App Development (Front-end & Backend)
After the designing phase is finished and all the UI elements are done, your designer will transfer the prototype design to developers. Developers will incorporate the features list that you have planned to include in your horse racing app.
You need to ensure that all the features you want to integrate are essential. Remember, the number of features you choose will influence the development cost. Therefore, keep the important ones on the prior list, as you can add more features after the development as well.
Developers must deploy each feature in working condition and should effortlessly mesh with databases and backend systems, preserving dependability and efficiency.
API Integration
APIs (Application Programming Interfaces) are essential for any modern horse racing app. They allow you to connect to external data providers and access real-time information like odds, results, horse profiles, and race schedules.
A reliable horse racing data API is crucial for providing users with accurate and up-to-date information. Choosing the right API provider is a key decision in the development process.
Why are APIs important? They provide real-time data, aggregate information from a single source, ensure scalability, and enable advanced features. When choosing a horse racing data API, consider data accuracy and reliability, data coverage, API performance, documentation and support, and pricing.
Your development team will handle the integration process, including obtaining an API key, making API calls, and parsing the returned data. A well-chosen horse racing data API is the engine behind the real-time information that your users rely on.
Testing and Quality Assurance
After the complete development of the horse racing application, your sports betting app development company will test your app thoroughly. To make sure that the app is responsive and all the features are working as intended, the QA team will run down the complete assessment.
They also perform different types of testing processes in the app to check its usability, functionality, beta version, and performance in a variety of scenarios. These tests are done to ensure that your app offers smooth performance, security, and bug-free functionalities. The QA testers will also collect and use user feedback to improve the app's overall performance according to their demands.
App Launch and Deployment
Once the app is developed and tested thoroughly, it's time to release it on your targeted platforms. In order to get your audience to know about your product, you must promote and release your app to the app marketplace during this period.
The horse racing app development cost depends on various factors like app complexity, features, tech stack, development team's location, and experience level. These are the most common factors that play a vital role in influencing the total budget of developing a horse racing betting app.
The industry of horse racing betting is widespread with the adoption of digital platforms like mobile applications and online websites. These platforms are playing a big role in attracting a broader audience from all around the world. The main attraction in horse racing is money or, in other words, betting.
This has also grabbed many inventors' eyes towards the industry and enticed them to build a custom mobile app for horse racing and betting. However, they often find themselves in a blank space when they create their budget for app development.
Providing the exact cost figure is impossible unless the project requirement is discussed with the development team. They analyze the requirements and accordingly provide their costing models.
On average, the cost of developing a horse racing betting app can range widely from $30,000 to $180,000 or even more, depending on the complexity of the app.
One of the most critical aspects of designing a horse racing app is to choose an appropriate development partner. You want a company that will be experienced and reputable so that they can provide you with an application that meets industry standards as well as user expectations. Here's what to consider:
Portfolio and Case Studies
Review the company's past projects, particularly in sports or betting apps. 'The idée theorem, for example, worked with a horse racing company to redesign their events and partnership website, improving UX and visibility.
Technical Expertise
Make sure the team is skilled in technologies such as React Native, Flutter, and Node.js and Python are widely used for developing applications. The expertise of such a set of mobile app development guides should also be focused on the types of requirements you have for your app.
Interpersonal and Project Management Skills
Communication is important, especially when it comes to genetics. Among other things, a company that provides regular updates and transparency can help keep the project on track. To save you time, you should be able to see Find teams By willingness to adjust based on what agile processes allow.
Reviews and Testimonials by Clients
Client reviews yield information on the reliability and quality of the company. You can use platforms like Clutch to read reviews and ratings that can help you make a decision.
Pricing and Contract Terms
Talk about the budget and ensure that the company has a clear pricing structure. Horse racing app development can cost between $20,000 and $200,000, depending on complexity and features.
Generating revenue from the horse racing betting app requires a strategic approach that keeps the balance between business experience and user app experience. However, there are many ways to make your app a revenue stream platform and turn your idea into a profitable venture. Let’s discuss the effective monetization business models.
In-App Advertisement
Ads are the most competent revenue model that every major industry uses. This includes partnering with ad networks to display ads within your app, including banner ads, interstitial ads, or short video ads. These are great revenue streams where you can earn money through simple one-click functions.
Commission On Bets (for betting apps)
In this revenue model, the horse racing app owner can earn a certain percentage of commission from every bet placed by users in the app. No matter whether the user loses or wins, the app owner will always earn profit from each bet placed during the event. This is perfect for businesses that are interested in earning a fixed amount of money through the app.
Subscription Fees (for live streaming or premium content)
The subscription model is one of the most common yet highly successful types of monetization model for generating massive income from the horse race betting application. This model includes accessing premium features like diverse betting options, higher odds, predictive analyses, and detailed reports after the subscription plan has been purchased. App owners can also offer monthly and yearly subscription plans, and based on the plan, they can offer services.
Affiliate Marketing
A must-have revenue model for your horse racing mobile app development is affiliate marketing. To successfully implement this model into your app, you must partner with other betting platforms to earn a percentage of commission from every successful referral.
The horse racing industry has gained a tremendous boost after the surge of mobile applications and other digital platforms. The popularity of horse racing betting introduced horse racing apps that enabled horse racing enthusiasts to immerse themselves in the sport differently.
These applications are great for providing real-time data related to horse racing events, horse and jockey past performances, live racing features, and many more. They are not only great for users but also help owners generate massive revenue for their business in a short span of time. For those looking to earn income from the horse racing industry, horse racing betting app development for business is a great venture to consider.
Orion InfoSolutions is a leading mobile app development company in the IT industry. With 10+ years of industry experience, proficient designers, and a developers team, the company promises to deliver high-quality and robust mobile app solutions to meet modern business requirements. We pay close attention to client’s requirements and develop solutions that help them accommodate massive revenue and user base and spark a brand image in the industry.
DC Kumawat is the CEO of Orion InfoSolutions, a leading provider of IT solutions to businesses of all sizes. He has over 14+ years of experience in the IT industry. He is a passionate advocate for the use of technology to improve business performance.