If you are looking to start a fantasy sports business, then you are on the lucrative business side. Because many business experts say that fantasy sports apps are a revenue-generating business model for 2021. This is due to the growing prominence of fantasy sports apps among startups and sports enthusiasts. In recent times, we can see many people are using fantasy sports apps for playing contests/leagues to earn profits.
On the flip side, a huge set of people use smartphones for their basic needs as well as for entertainment. They have also opted for different trending mobile applications for entertainment purposes. Among them, fantasy sports apps are the major attraction for sports enthusiasts. Thus, the market for the fantasy sports business continues to grow at an exceptional rate.
If you are a startup or entrepreneur interested in earning ample amounts of profits. Then you must look into investing in fantasy sports app development to gain lucrative money. As of now, the fantasy sports app sector is one of the popular sectors that has seen tremendous growth in the past few years. As of now, there are plenty of fantasy sports apps available in the marketplace and the owners are generating great revenue daily. Thus, many startups, entrepreneurs, and sports enthusiasts are emerging to start a fantasy sports business in 2021.
If you aren’t aware of how to start a fantasy sports business. Then this article will help you to kickstart a successful fantasy sports app business in 2021.
Ok, without wasting the time, let us begin this exclusive article with…
What is a Fantasy Sports App and How it Works?
Fantasy sports app is the online sports betting fantasy app that works only with internet access. It has become one of the desirable apps for smartphone users around the globe. Currently, billions of people are using various fantasy sports apps for fun, excitement, and for earning cash prizes. Fantasy sports app is prominent in the marketplace because it helps the users to win quick money effectively.
In general, fantasy sports apps allow users to choose their desired type of sports for playing leagues and contests. Some of the top sports that fantasy sports apps support are cricket, football, soccer, baseball, basketball, rugby, and more. Thus, this kind of app is admired by many sports enthusiasts. From football to cricket and baseball to basketball, fantasy sports apps offer tournaments/leagues for all these sports. So based on the area of expertise, users can choose the league and play efficiently.
So, how does the fantasy sports app work?. In the fantasy sports app, the user can select their desired team with real sports players. But before selecting the team players, the user needs to deposit some fiat money in their account. After drafting the team, he/she can join in any contest/league/tournament by paying a certain amount of money as a fee. If their predicted sports team played well in the stadium. Then based on the performance of players, he/she can win cash prizes as a reward. So, if the users have the prediction skills on their desired sports. Then they can win cash prizes easily from each league they play.
Common Types of Fantasy Sports Apps
As of now, there are many sports available globally. But only a few sports are essential when it comes to fantasy sports apps. Those important fantasy sports apps are mentioned below.
1. Fantasy cricket mobile apps
2. Fantasy soccer mobile apps
3. Fantasy Baseball mobile apps
4. Fantasy Football mobile apps
5. Fantasy basketball mobile apps
6. Fantasy rugby mobile apps
7. Fantasy sports mobile app for Golf and many more
Best and Popular Fantasy Sports Apps in 2021
Fantasy sports app is a huge sector and it is still expanding in all parts of the world. Even though there are lots of fantasy sports apps available in the play store. But only a few fantasy sports mobile applications gained more prominence among sports enthusiasts. Here is the list of popular fantasy sports mobile apps that are prevailing in the global fantasy sports marketplace.
1. CBS Fantasy Sports
4. ESPN Fantasy Sports
7. Fan fight
8. Fantasy Football Draft Wizard
9. Podcast Addict
11. Yahoo Fantasy Sports and more.
These are the most popular fantasy sports mobile apps that have a great user base worldwide. You can also create a fantasy sports app like draftkings, fanduel, or whatever by connecting with the leading fantasy sports app and website development company in the marketplace.
Before starting your fantasy sports business, you need to know its potential. So…
How Potential is the Fantasy Sports Business Today?
As previously said, the fantasy sports app business has become more popular among sports enthusiasts and startups. Besides, launching a feature-packed fantasy sports app is one of the finest business ideas to reap lucrative income. In recent years, we can see the massive growth of fantasy sports apps in all parts of the globe. So the global fantasy sports market is estimated to be more than $50 billion by 2025.
Nowadays, the users who are using smartphones for casual gaming are less when compared to massive gamers. It shows the user’s interest in the mobile games app today. So many people started to build their own fantasy sports mobile app for business. You might ask: why a fantasy sports mobile app? Why not a simple fantasy sports website?. The answer is simple, users will always prefer to use smartphones rather than using websites. Also, more than 65% of people use smartphones for gaming and their basic needs. Thus, the fantasy sports market is all set and it is the perfect time to kickstart your fantasy sports app business.
Now, you will be excited to know – how to start a fantasy sports business, right?. So, let us see…
How to Start Fantasy Sports Business?
Starting a fantasy sports business is not a kind of hard task. Anyone can launch a fantasy sports app by considering some essential factors. Here we list some of the important factors to consider for starting a successful and perfect fantasy sports business.
1. Decide the Objectives of your fantasy sports business
Initially, you must determine your business objectives before starting your fantasy sports business and also need to keep the revenue model in place. If you are trying to enhance your branding. Then ensure that you are having all the essential elements for engaging your users. For example, if you have a sports media brand. Then your objectives will be completely related to user engagement. Likewise, determine your objectives clearly to start a fantasy sports business. But always have large objectives and don’t opt for blind decisions. Once you have determined your objectives, you can proceed with the next step.
2. Do Market Research
This step is an essential step and also one of the key factors to succeed in your fantasy sports business. In any fantasy sports business model, market research and analysis are the important elements to know updated features and latest trends. Because we know that there are several sports and each sport has more than millions of fans. Market research will help you to analyze and determine whether there is any competition in that field or not. Besides, you also have a deep knowledge about which sports have huge popularity among people. From these, we can see the importance of doing market research.
3. Have a perfect plan for your business
In general, one can not start a business without a correct plan. So, you need to have a perfect plan and a road map for your business. For your fantasy sports business plan, you can include any sports. Such as cricket, Football, soccer, baseball, basketball, and more. In your business plan, you must also consider some paramount factors. Such as your project budget, targeted audience, developing team, and list of advanced features to be integrated. Finally, you need to determine the deadline for completing your fantasy sports project.
4. List out the sports & league to be included in your app
Once you have decided on your fantasy sports business plan. Then you must list out the league/contests and sports. Leagues like MBA, NFL, IPL, and more. Also, sports like cricket, football, basketball, and more. To determine your desired sports and leagues to be supported in your fantasy sports app. Because this decides the success of your fantasy sports business in the marketplace.
5. Determine the Right Engagement Platform
In this step, you need to determine whether you are going to develop a fantasy sports mobile app or a fantasy sports website. Else, you are gonna launch both platforms for your business. But developing these both platforms for your users will help you to grab more user engagement easily. But the choice is yours and you need to take the decision. But damn sure that the combination of both the stunning fantasy sports mobile app and the website is going to be a profitable one for your business.
6. Identify the Top-rated Fantasy Sports App Development Company
If you want to build a fantasy sports app or website. Then you need guidance from a professional fantasy sports app development company. Because they have a team of experts for developing a top-notch fantasy sports app. Also, they will assist you with professionals who are experts in the fantasy sports field. Apart from this, they have technical experts in case, if you face any issues, errors, or bugs in your fantasy sports app or website. Thus, hire the finest fantasy sports app development company to start a lucrative fantasy sports app business.
7. Set Game Rules & Format
Once you have chosen the development firm, you must decide the rules and format for your app. Because you are the owner of your fantasy sports app, right?. So first, you need to ensure that you are keeping your users engaged all the time. For all-time engagement, you need to have unique game rules and format in your app. Such as exclusive contests/leagues, premium tournaments, free contests, and season special contests with a huge winning amount.
8. Find Reliable Data Providers
For starting the fantasy sports business, you need various data. Thus, choosing a reliable data provider is vital. Hire the right provider who is an expert in handling fantasy sports app data. Some of the popular fantasy sports data providers are GoalServe, FantasyData, and SportsRadar.
9. The Deployment should be planned carefully
Many startups and entrepreneurs first launch their fantasy sports website and then they will introduce their mobile application to the marketplace. Thus, you need to have a good pre-launch strategy. In case, if you have any clarifications or queries. Then you can have guidance from your chosen fantasy sports app development company.
After launching your fantasy sports platform, in case, if you don’t have proper marketing strategies. Then you might fail to make your presence in the market even if you are the best in the fantasy sports industry. Thus, implement your market strategies on both offline & online platforms. Some of the finest marketing strategies that you can follow are search engines, social media, radio, TV ads, events, and more.
By considering all these important factors, you can start a successful fantasy sports business in a trouble-free way. However, features play a vital role in launching a superfine fantasy sports app and website. So, now let us see…
Extraordinary Features of Fantasy Sports App Development
Here we list the desirable features that you need to enable for building an ideal fantasy sports mobile app.
2. Home Screen
3. Payment Mode
4. Player information
5. Create and join Contest
6. My Contest
7. Create custom fantasy teams
8. User Dashboard
9. My Settings (Invite & Earn, CMS Section, profile name, etc)
10. Online wallet integration
11. User authentication and more
1. Admin Login
3. User Manager
4. Manage Matches
5. Manage Games Category
6. Contest Manager
7. Manage Payment
8. Manage Reward Points
9. Manage Earnings and Cash Bonus
10. Transactions and reporting
11. Manage Bank Withdraw Request
12. Manage CMS pages
To make your Fantasy sports app business successful, you need to enable some trending features. Here we list some of the latest trending features that you can integrate into your fantasy sports mobile app.
1. Live Match Score updates
2. Live Score API Integration
3. CRM Integration
4. Push Notification
5. Real-time Analytics
6. GPS Location Tracking
7. Instant Payment System
8. Game and winning history
9. Raising a query
10. Player fantasy points
By integrating updated and trending features, you can enhance the performance of your fantasy sports app and grab more users easily
How Much Does it Cost to Start a Fantasy Sports Business?
The cost of starting a perfect fantasy sports business depends on various factors. Such as
1. Type of sports that you have chosen
2. Integration of features
3. The complexity of your project
4. UI/UX development
5. Size and location of fantasy sports app development company
6. Third-party API integration
These factors shape the fantasy sports app development cost. On average, the cost of starting a fantasy sports business ranges around $12k – $15K (including Android, IOS, and Web). However, the fantasy sports app development cost might vary based on your business requirements and urgent needs. The only part that lies in your hand is choosing the right and professional fantasy sports app development firm in the marketplace. One such professional development company is Fantasy Sports Tech.
Why Pick Fantasy Sports Tech For Starting a Fantasy Sports Business?
Fantasy Sports Tech, an outstanding and leading fantasy sports app development company in the global marketplace. As the name suggests, we are masters in offering all sorts of fantasy sports solutions with premium outcomes at affordable rates. We offer extraordinary white label fantasy sports software which is 100% customizable. Our premium software helps to launch a standard fantasy sports platform with the latest user and admin modules. We have a dedicated team of technical experts and experienced developers for developing, designing, testing, and deploying the fantasy sports app. Fantasy sports tech provides End-to-end fantasy sports app development services for all startups and sports enthusiasts.
Our reliable fantasy sports app development services include
1. Fantasy football app development
2. Fantasy soccer app development
3. Fantasy basketball app development
4. Fantasy baseball app development
5. Fantasy cricket app development
6. Fantasy rugby app development
7. White label fantasy sports software
8. Fanduel clone script
9. Draftkings Clone script
10. Dream11 clone script
Talk to our business experts and start your fantasy sports business now!
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