Dream 11 and MyTeam11 are the two leading fantasy sports platforms that have introduced the concept of fantasy sports in India. With millions of active users, these applications are currently ruling over the fantasy sports industry. Today they emerged as the biggest names in the sport’s mobile applications, and motivated other entrepreneurs to invest and create a fantasy sports app. undeniably, the fantasy sports industry is full of advantages; it not only offers you a broad range of customer-base but also provides an opportunity to earn lucrative profits.
How To Create A Fantasy Sports App
From Cricket, Basketball, Volleyball, Hockey to Football, these applications offer outstanding gaming experience to its users. Hence, it is high time for the companies to start creating their own fantasy sports app and provide real-time experience to their customers.
But building an app like Dream11 is not an easy task. You need to understand that a fantasy sports app development project requires the right knowledge and skills. So, here we have curated a few essential details that will help you in understanding how to create a fantasy sports app.
Before moving ahead, let’s take a look at its core concept-
What is a Fantasy sports App?
Fantasy sports application is a virtual platform which allows users/players to build their fantasy team and compete against each other. The users create their squad based on real-time players playing live matches. They can pick players based on their past performances, their formats, strengths and weaknesses.
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After selecting a team, users can participate in leagues, compete against their opponents, and win exciting rewards, including cash.
Market Overview of Fantasy sports-
Fantasy sports apps have gained significant popularity among the youth. From every 3 out of 5 people are playing over this platform. The United States is the leading marketer of these fantasy sports; currently, it relishes the market size of fantasy sports services is $7.8 billion. Following it, India and China have become the next most leading market of it. Whereas in India, the Online Fantasy sports (OFS) market has earned INR 16,500 Cr. as a contest entry amount in the financial year 2020. The market also witnessed a great surpass in the number of users. In 2016 the users were 2 million, which is now reached 90 million at the end of 2019.
According to the market experts- The fantasy sports market expected to register a CAGR of 5% from 2020 to 2025. These stats are enough to justify the benefits to create a fantasy sports app for your business.
Now, let’s discuss the vital features that are required to create a fantasy sports app.
Features of Fantasy Sports Applications-
Features in an app can easily make or break it within seconds, let’s say if you have a grocery delivery app or taxi booking app, and the users do not find the relevant or the essential features, what will they do? They simply uninstall it and prefer to download the other that offers excellent services. Hence, the companies need to implement such features that will help the users in enjoying the time they have spent over the app. Always remember, the more outstanding and unique features an app offer, the more will be its publicity among the market.
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If we talk about the fantasy sports app development, then the app comprises both basic and advanced features. If you are an existing sports business in this industry, then it is excellent for you to opt an advanced features app, but if you are new to the market, then a basic app would be the best choice for your business.
Basic features of a fantasy sports app include two panels, including user and admin.
User Panel includes-
· Profile Creation
· Create Contest
· Create a fantasy team
· Join contest
· Easy withdrawal of money
· Refer & Earn
· Quick updates
· Multiple payment options
· Transaction history
· Browse and search matches
· Max joining of teams for the contest
Admin Panel includes-
User Management Dashboard
· Categories and contest management
· Payment and Winning Management
· Reward management
· Offers and Discounts
· Match & player management
· Real-time analytics
· Push notifications
An app with advanced features will have more chances to win a broad range of user-base. The users are usually looking for such applications which offer exciting functionalities and features.
Following advanced features will help to create a fantasy sports app–
· Report forecasting of players before matches
· Quiz based on multiple sports
· Score predictions
· Winner predictions
· Reward points board
· Match highlights
· In-app chat
· Live match notifications
· Email reminders
How to create a fantasy sports app?
To create a fantasy sports app, you need to consider the following crucial steps-
· Define your objective- The very first step which you need to determine is the objective behind your fantasy sports application. Like if you are new to the market, then your purpose would be getting the large user-base, whereas if you are an existing sports brand, then your objective should be promoting your running products and services.
· In-depth research before starting the development process- It is essential for you to do in-depth analysis about the market and determining your target audience. It will help you to create a robust application and expand your business reach globally.
· List of sports and leagues- Make sure you implement all the prominent sports and tournaments in your sports applications. It will help in increasing user engagement over the platform.
· Determine your USP- Defining the USP is essential as it distinguishes your offerings among others. There are several fantasy sports applications in the market which claim to offer the best services. Therefore, in such a fierce competition, USP will give a clear understanding of your platform to the users.
· Available on both platforms- In the competitive market, you should offer your services on both platforms, including website and mobile applications. However, users prefer to play on the mobile apps more, but a website also plays a vital role in giving a quick and easy understanding of the platform. Hence, investing in both platforms will help you to get more advantages.
· Hire the right development partners- The most and the vital aspect is to hire the right team of app developers. Make sure you hire such a team that will not help you with the development process but also offers you some innovative ideas about your platform. Always try to approach an experienced fantasy sports app development company, as they have hands-on-experience on similar projects. Moreover, they can help you with your budget and deliver your project timely.
How can businesses make lucrative money from fantasy sports apps?
It is one of the critical questions that run in every entrepreneur’s mind before investing in the fantasy sports industry. Here we have mentioned some modes by which you can earn significant profits for your fantasy business-
· Paid Advertisements
· Free leagues
· Build fantasy sports software for multiple platforms
· Partner with other companies to promote their services over your platform
· Upgradation of your mobile application
Cost to create a fantasy sports app-
It isn’t easy to evaluate the actual development cost of a fantasy sports app as the prices vary according to the multiple aspects like app size, features, functionalities, complexity, app platform, designs, demographic regions, development team and others. Therefore, the average cost of creating a fantasy sports app ranges from USD 25000- USD 80000.
However, there are several fantasy sports applications available in the market today. To secure your app, stand out, make sure you consider all the loops and offer users a unique and entertaining app.