With an increase in the fandom of various sports like cricket, basketball, football, etc; the sports industry has come a long way. And this is the reason behind this billion-dollar industry’s buzz among entrepreneurs to invest in fantasy sports mobile applications.
It won’t be wrong to conclude that the way world-cup or ODI’s grab everyone’s attention with full zeal and excitement. Similarly, a fantasy sports app is another platform that gives passion to every sports lover. A fantasy sports game is all about the knowledge and prediction based on the real games where a virtual team is created to hold the flag of coming forward and then gets points based on real performance. Developing a fantasy sports application has a lot of enthusiasm in the industry where a user can use his knowledge and skills to perform.
Working of Fantasy Sports App
As said earlier, the mechanism of fantasy sports works hand-in-hand with a choice of real players virtually and the real-game statistics.
A full-fledged app needs a basic registration or sign-up step to log in. As soon as a player logs in, he can come across the list of matches to select the one as per his choice.
The player is supposed to form a team of around 11 players where he has to assign a captain, vice-captain and so on. Also, a player can form multiple teams that can play simultaneously. And that’s it, the game is ON! Yes, in order to bring it on, you must reach out to an experienced fantasy sports app development company.
Where it is not doubted that the market has a really good revenue structure, it’s no harm to look at the stats before jumping to this market industry.
Globally, the market has grown from $20.36 billion in 2020 to $22.31 billion in 2021 at a compound annual growth rate (CAGR) of 9.5%. The reasons behind this growth are said to be the rapid increase in digital infrastructure, higher popularity of players in sports etc. Just not that, but the market is also expected to reach heights of $38.60 billion in 2025 at a CAGR of 14.7%.
Market overview around the development
As per the data, the fantasy sports market is leading the chart when it comes to growing businesses across the globe. The market share is reportedly $48.6 billion till 2027 based on the given factors like enhanced partnerships, urgency of playing or participating in favorite sports, technological advancement and up-gradation, the widespread use of smartphones, increased OTT platforms and so on, which also includes cricket betting through mobile apps.
What makes a fantasy sports app a right choice?
While it’s quite clear with the data and research studies why the fantasy sports app or cricket betting app development market is reaching heights. However, it has a lot more in store which makes it the right choice for entrepreneurs to explore this area of business.
Scope Of Improvement –
It’s a new rising market and has a lot of potential to gain higher visibility by the time competition reaches heights. The fantasy sports app can be improved that can enhance the app and its features as per the user’s choice.
Opportunities and Users –
The entrepreneur just needs to know the right requirement of the users. Once the app or the person behind the app gets to know it better, it will undoubtedly help the platform work wonders in the market. The fantasy sports app offers a great market for trusted and verified users who stick to the app.
In continuation to understand the need of a trusted user better, the fantasy sports app developers must work in order to have the following features –
The very common step requires the user to register with the necessary information to make it hassle-free and easy for the user like an email id, phone number or maybe a username.
Landing Page –
As soon as the login is complete, the user will be directed to the landing page where he can see the list of games and can choose as per his preference.
During a contest, the users can see the details about the game in which they wish to participate. In any contest, players have a whole lot of options to choose including the ticket size, winning amount, size, etc. in which they can pay the required ticket size or entry fees to participate.
Profiling is a must stop. Rest assured, profiling helps the user to customize the functionality as well as update their profiles, keep a check on their reward points, details, bonus, etc.
Other than these, the app must not miss the advanced features like real-time analytics, customization, live streaming of videos to stream the matches live and get all updates.
On the contrary, admin panel features are equally prominent. Just not the basic ones to manage the admin login, games and reward management, user management, earning management etc. But also the advanced features like –
- Geographical location
- Customer Relationship Management
- Admin Dashboard
- Mail Reminders
Designing It Better
To make it easy for game lovers, the most complex thing – designing is to be taken care of. The design is the only thing that bifurcates and makes your app unique from that of your fellow competitors. Because once the user downloads the app, it’s just not the game that catches the user’s attention but a lot more. Let’s understand it better –
Welcoming the user –
The user onboarding must be easy and quick, so the first design element. The major concern area among the users is how they can invest less time onboard. Here comes the role of your designing element to make it quick and easy within the application for the user.
Estate of the screen –
The fantasy sports application has a huge set. There’s too much for a user that can be done within the application like creating leagues, joining leagues, tracking real-time or live scores, managing teams, accessing dashboards, making payments, etc. Having said that, everything is important for the user and so for the designer as well to wireframe the estate of the screen better to show the said data collectively in a better format or design. Again, for the convenience of the user.
Less Is More –
No user would like to have lengthy paragraphs when it comes to the interaction with the app. The team must design the application minimalistically with not too much content to be processed. This is how you can allow the user to play uninterrupted games without any distractions.
While it depends upon an entrepreneur’s budget and planning of what he wants to offer the user. However, the integration of advanced technology is a big hit. The use of AI for personalization, blockchain for safe payments, social media integration etc. make your app even better and loved by the users.
How to mint revenue with a fantasy app?
The entrepreneur has given it all for the fantasy sports app because he expects a handsome revenue at the end of the year-end. And when it comes to minting money, there are a lot more good options available to get through it. Like –
One of the leading monetization factors for the fantasy sports app. Advertising any brand within your app with their offering is all that you have to do for the big brands.
Joining fees –
Another smart way is to charge a minimum participation amount from your users whenever you organize contests. Make sure you make your fantasy sports app designed beautifully in a way where it is worth it for the user to even pay and join the contests for that matter.
Engagement channels –
How are you planning to engage your user? Be it through a session with a famous face of the particular game or any rewards-recognition step, make sure the engagement channel has to be well worked for your user who probably gets in with a participation fee.
In-app purchase –
Customization is ruling the market. You can brand yourself and even sell a few goodies like a brand-name t-shirt or other accessories to earn within the app.
Nothing is hunky-dory. While it seems a beautiful roadway, however, the real-time challenges cannot be ignored. Mainly marketing or getting a good fantasy sports mobile app development company. The business giants can do it all But if you are a new entrepreneur in the market, you need to overcome these challenges. Just designing an application with the help of fantasy sports mobile app developers and a creative team is not enough. You need to plan the promotion as well.
To communicate what your app offers, the research should have all the must points like your offerings, features, design, layout etc. Also, don’t just ignore or take your competitors lightly.
Now when you are all set to hit the industry with yet another great decision of yours to make it into a fantasy sports mobile app. We are sure this guide will help and you will certainly rock it. While from stage one to stage three, all you need to do is do justice with your app and the user’s expectations who will be going to decide your fortune. Understanding what your user wants always comes first. Rest can wait, right!
Alicia is a technical content writer and is associated with A3logics for over a couple of years. She has been in touch with the On Demand App Development team and is often found struggling with some unique topics for her upcoming projects. She is often found discussing the latest developments with the technical team. When not working on any of her writing projects, she is either reading any of the Agatha Christie mysteries or busy gardening.
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