You have constructed an incredible sports betting website with all the cool features that you could think of. You have the latest scores, live games, detailed stats for every sport and much more. You get daily payouts and amazing customer support. However, you are paying a heavy server fee to a sports betting hosting company. You have decided to invest in your own data center to keep an eye on your business and ensure that everything is up and running smoothly. You need a way to cap the sports betting on your website.
You have many options when it comes to limiting the amount of sports betting that a user can make on your site. You could limit the max bet amount per day, week, or month. You could charge a fee for each wager placed or limit the types of sports that the user can place bets on. You could also require that the user register with your website before they can place bets.
This article will teach you how to cap the amount of sports betting on your website.
Limit The Max Bet
The first and most obvious method of capping the sports betting on your site is to limit the amount that the user can wager. The best way to do this is to adjust the max bet per day, week, or month. For example, you could cap the max bet at $5 per day, $100 per week, or $1000 per month. The max bet amount is displayed on the user’s account page along with other details about the account such as the balance and the activity from previous days, weeks, or months.
You have the option of capping the max bet for all sports or just for certain sports. For example, you could limit betting on soccer to $5 per day, $100 per week, or $1000 per month while allowing full access to all other sports. If you choose to cap the max bet for specific sports, you will have to set an upper limit for each individual sport. This is the amount that the user will be able to wager on that sport during that time period. You could set the limit at $5 per day, $100 per week, or $1000 per month to start. You could add more if you want but it is advisable to keep it below the average bet amount for that sport.
Implement Geolocation
To implement geolocation on your website, you will have to use javascript. The best and most efficient way of doing this is to use the Google Maps Javascript API. With this API, all the geolocation information is stored on the client’s side. This means that when a user presses the “show my location” button, or equivalent on your site, the information is sent directly to the client and no database searches are necessary. This makes for faster and more efficient page loads.
Disable Certain Sports
Depending on your target audience, you may want to disable certain sports on your site. For example, if you are trying to limit the amount of sports betting that children make on your site, you may want to disable all forms of gambling for them. You could also choose to limit the types of sports betting that they can make use of or make it so that they need to be verified in order to place a bet. The choice is yours but you should consider the benefits and the drawbacks of disabling certain sports on your site.
Create A Verification Process
One of the best ways of limiting the amount of sports betting that a user performs on your site is to implement a verification process. This can be done by asking for the user’s phone number or email address or something similar. When the user submits this information, they will receive a verification email or text message confirming their registration. You can also choose to require a captcha (completely free) after the user has submitted their details.
This is a great way of limiting the amount of sports betting without resorting to limitations on the max bet amount per day, week, or month. The verification process will act as a gatekeeper for the user’s account. If the user tries to make a bet that they cannot verify, they will not be able to do so. The effectiveness of the verification process will depend on how you implement it but you can be sure that it will help to keep track of fraudulent activity on your site.
One more thing about implementing a verification process is that it can also serve as a security measure. If you require some further protection for your website, you could require the user to re-verify every time they want to make a bet. This would help to keep their details secure and would also create a delay before they are allowed to place a bet. You can use re-verification however you see fit but it is advisable to use it as a security measure when implementing a verification process. In this way, you can be sure that no one is trying to trick the system by getting around the re-verification step.
Consider Allowing Bets On Existing Scores
In some countries, it is legal to make bets on the outcomes of sporting events that have already been played. If your target audience is from one of these countries you could allow bets on existing scores. For example, if a soccer match has been played and the score is already known, you could allow the user to make a wager on the outcome of the match. If you choose to do this, you will need to ensure that you have strong measures in place to prevent money laundering and other fraudulent activities. Allowing bets on existing scores can generate a significant amount of revenue for your website if done correctly. It is a great way of creating a more realistic betting experience for your users.
Incorporate Social Media
Another great way to cap the amount of sports betting on your site is to incorporate social media. If your target audience is made up of people who love to share their thoughts and feelings through blogs and social media, you could choose to have a “Share your score” button on your site. When this button is pressed, a window will open up inviting the user to share their thoughts on the current match. This is a very easy way of gathering opinions and feedback from your target audience. It is a fantastic addition to any sports website.
Consider Charging For Each Wager
The last, but not the least way of capping the sports betting on your site is to consider charging for each wager. The reason behind this is simple. Just like with many other products and services, people are more likely to spend money when they have to pay for it. For example, if you charge $5 per wager, on average, your user will be inclined to spend more money than if you had set the limit at $1 per wager. Of course, this is all hypothetical but you get the point.
The main drawback to this approach is making sure that you collect the fees from the users who are causing you the most trouble. In most cases, it is the best approach to block these users with an automated system or with a human being watching over the details. Setting a limit on the amount of money that the user can wager without incurring any costs will, in most cases, lead to fewer problems for you and your business.