Why Building Fantasy Sports App is Worth Investment in 2022?
First things first, what are fantasy sports? Fantasy sports is a popular kind of knowledge-based betting game. Here, the fantasy player has to predict the performance of a set of players based on their form in the previous games. The user can update the team anytime before the match starts; after this, they have no role rather than pray for their chosen players to perform well. In a nutshell, fantasy users can earn existing cash awards from their knowledge about the game and a slice of luck to go with. Next up, we are going to discuss why now is the right time to invest in the fantasy sports industry by launching a dedicated app.
The fantasy sports business is booming on the global map, not just cricket, football, baseball, NBA, and other sports also gaining momentum. Fantasy sports entrepreneurs are hiring competent fantasy sports app development company to develop a feature-rich, user-friendly App to make inroads in the fantasy sports business and generate good revenue in a short time period. Are you not convinced with the prospect of launching a fantasy sports App and making money? Scroll down to learn about how you can gain by investing in a fantasy App.
Is It Right to Take a Plunge Into the Fantasy Sports World in 2021 & Beyond?
No time is better than now to launch a fantasy App as the sporting world is getting back on track after being hit hard by the COVID-19 pandemic, with the cancellation of so many sports events worldwide. In India, fantasy sports first busted the scenes in the early 2000s.
However, it took more than a decade to gain popularity. India’s upsurging fantasy sports industry is backed by the advent of affordable smartphones and cheap internet connectivity. Some top fantasy Apps in India are Dream11, MyTeam11, HalaPlay, and more. In 2020, the fantasy sports industry was valued to be 20.69 billion. And, this is expected to reach the mark of USD 48.07 billion at the CAGR of 12.8% by 2027. The United States will be dominant with USD 8.4 billion in 2021.
India is another fast-growing country in terms of fantasy sports and online gaming. Over 100 million users have joined the different fantasy sports platforms in 2020, which is merely 14% of smartphone users in India. Therefore, there is an ocean of opportunity in India. The investors in India are keen to put their money in the fantasy sports world, and 112 USD million has been raised in the last half a decade. In the coming years with the smartphone market in India is expected to be even bigger, and being a country of youth with aspirations, fantasy sports will be a thriving industry here. In the next segment, we will talk about the most prevalent ways fantasy Apps like MyTeam11 generate income.
How Do Fantasy Sports Businesses Make Money?
Let us find out the different ways in which the fantasy sports business can generate revenue mentioned below in descriptive points:-
#1 Gaming Tournaments:
The admin of the app can create tournaments for players to pay and join. The agenda is simple: the App will collect money from all the participants and then reserve a small share as cash rewards, and the rest is their profit. This is the fundamental way by which top fantasy sports App such as Dream11 is generating huge revenue numbers. The tournaments will be created by the App admin for each sport that has different rewards. The participants will join the games in the tournament for a predefined price. We can say the gaming tournaments are the main source of earnings for fantasy sports Apps out there.
#2 Header and Footer Ads:
Another way a fantasy sports App earns is by displaying a third-party header and footer
Ads. However, the earning is often less compared to the first option. Such kinds of Ads often appear annoying to the users. This is perhaps a big reason why some Apps don’t waste their time and efforts on such a promotion. So make every move count.
#3 Interstitial Ads:
Many times you probably have seen promotions on the overall portable screen in several Apps. Until now, you might not have a clue what such ads are known as, and they are termed Interstitial Ads.
It is an intuitive and attractive form of entertainment that covers the entire portable screen. Such a promotion shows up when you have completed the game, during the game or when you move from one App option to another.
This type of advertisement can generate good amounts of income compared to footer and header ads.
But, be careful; the Interstitial Ads often hinder the smooth user experience, which could constitute an increase in the number of uninstalls. Take it slow with these Ads, even if you think you have made big money with them. However, don’t expect your App to make big money with interstitial ads initially. First, your App needs to invest time & efforts into increasing the user base. Once you have a broad database of users, advertisers would connect with you to display their Ad on your App.
Significant Benefits of Fantasy Sports App Development
- Intensify items, administrations, and brand attention generally.
- Increment deals and transformations huge amounts at a time.
- You can fabricate better and enduring associations with clients.
- Carry a significant measure of traffic to the site.
The Bottom Line
The success of your fantasy sports App depends by and large on the App development company you hire.
So, As a piece of advice, make sure they have relevant experience in developing fantasy Apps; even if they say they have built many such applications, ask them to showcase their portfolio of previous projects.
Check their online reputation, Google reviews, Glassdoor profile, and client feedback on various top platforms such as Upwork. You must have criteria in mind to narrow down on a few development companies and then interview them.
Explain your requirements, and take their inputs, and carefully check out for their experience. Ensure that your prospective fanatics sports App development company adhere to the deadline, as you don’t want any costly delays. And, finally, let your guts take the final call!
I hope you find this blog informative. For information stay tuned.
