Sports lovers across the world display a very common habit, i.e., they always try to predict or guess the match outcome or performance of their favorite teams and players in advance. They may be correct or wrong in their prediction but the curiosity to witness the final outcome always prevent them from leaving stadiums or television screens.
Now, this habit of predicting game results in advance has received momentum with the arrival of fantasy sports apps like ESPN Fantasy, DraftKings, FanDuel, RealFevr, etc. These applications are providing sports lovers with a rewarding and exciting opportunity to earn money for every accurate projection of the actual performance of every team and player.
Noticing the craze among sports lovers, enterprises are spending resources to create such applications with the help of a professional fantasy sports app development company.
Before exploring deeper, all you need to know:
What are Fantasy Sports Apps?
These digital platforms allow users to create an imaginary team of his/her choice comprising popular sportspersons. Subsequently, based on the real-match performance of every player and team, they receive appropriate points or rewards.
These applications are becoming very demanding with time due to the massive scope of profitability. These apps allow people to predict the results of sports like soccer, golf, baseball, basketball, cricket, hockey, etc.
Currently, these apps are not only witnessing widespread popularity in the market of the USA, UK, etc. but also gaining visibility in Asian countries like India where domestic fantasy platforms like Dream 11, League-11, Vision11, etc. are allowing fans to vehemently engage in the world of cricket and other popular sports.
This surge in global demand is tempting many startups, Unicorns, Fortune 500 organizations, etc. to seek the professional assistance of the best fantasy sports application development company to serve sports lovers with immersive platforms to earn dividends on a long-term basis.
What is the Landscape of the Fantasy Sports Market?
- The prospects of the Fantasy gaming market are quite bright at the moment. By 2024, the global market value of the Fantasy sports industry will reach the mark of $9.34 billion (Source: Businesswire).
- Besides North America, Europe is also emerging as the second-largest market for fantasy gaming. It is projected that by 2030, the global market value of this segment will witness an impressive revenue figure of $13890 million. (Source: Straits Research).
- Currently, the user base of fantasy gaming apps comprising only Canada and the United States is 59.3 million (Source: Fexle).
- According to the report of the Fantasy Sports & Gaming Association, male fantasy gaming players constitute 66 percent, and the female player base of this segment comprises 34 percent combining USA and Canada.
- Right now, the global Fantasy game market involves major establishments like Rotoworld, Fan Duel Group, FantasyPros, GoodGamer Corp, Fantrax, etc. (Source: EMR).
- The market of Fantasy gaming in India is projected to reach a robust value of 1,65,000 crore in 2025.
- Similarly, as per the Deloitte report in collaboration with the FIFS (Federation of Indian Fantasy Sports), the current player base of the country is above 13 crores (Source: Money Control).
Hence, to make the best use of these prospects, you must establish contact with the best mobile game development company to stand out in the intense competition.
It is time to understand:
How do Fantasy Apps Make Money?
There are various profitable money making options that let you boost your income when using a fantasy sports app. Have a look:
1. Participation Fee
It is an extremely successful revenue-generating option. This model involves charging a nominal sign-up fee from users when they will proceed to use your fantasy sports app.
But to make the best use of this monetization option, your fantasy app must provide users with surplus opportunities to earn rewards for making an accurate prediction of every tournament.
Leading fantasy sports platforms like DraftKings, FanDuel, etc. are massively using this revenue-centric model to serve users with multiple prize-earning prospects.
2. Sponsorship Fee
When your Fantasy app is performing impressively to engage a huge user demography, receiving a sponsorship fee will not be a difficulty.
It will not just only boost the publicity of your application but will also allow sponsors to promote their businesses using your platform as well.
The model usually works when you have already established a strong reputation in the fantasy gaming app development industry.
3. Organize Paid Contests
This model not only ensures surplus audience engagement but also enables you to earn more money throughout the year.
In this model, you have to invite users to participate in various exciting contests and events to receive rewards and discounts.
When they will proceed to join these events using your app, collecting an entry fee from every user will boost your business revenue as well.
4. Subscription Fee
It is also a popular revenue-earning model. You have to serve the target user segments with limited accessibility to your fantasy game app.
Once they are impressed and exhibit interest to enjoy more features in your app, tempt them with a monthly or yearly subscription amount to receive the leading-edge updates and improvements to derive surplus pleasure.
It is a highly profitable earning model that allows your business to earn huge money by allowing brands and enterprises to utilize your fantasy apps to run various types of advertisements like banners, static, videos, etc. Your revenue figure from such an option is mainly determined by the overall clicks and views of every advertisement.
What are the Steps to Build a Highly Successful Fantasy Sports App?
The industry of fantasy gaming apps is flourishing at the moment. You have to consult with a leading custom mobile application development company to gain an impressive outcome. It will let you observe vital guidelines such as-
1. Analyze Competitors
As the Fantasy sports market is witnessing the participation of various enterprises, you have to closely monitor how your competitors are proceeding. You have to find out their target audience groups, features they are adding when building these apps, etc.
By observing competitors, you will have the scope to decide to invest in the trending fantasy gaming app to boost revenue generation and engage a vast user base.
2. Determine Sport Genres
Now, you have to decide whether to create a fantasy app targeting a specific game like cricket or encompass a variety of sports like rugby, golf, soccer, baseball, etc. with the assistance of a professional fantasy sports application development company.
If you are considering targeting a specific game, you may miss attracting a vast audience base. But your revenue earning scopes tend to maximize with the inclusion of various types of sports in the fantasy application.
3. Involve the Top Game Development Company
Presently, there are various reputed gaming companies, for instance, Red Apple Technologies, that are proficient in offering best-in-class fantasy sports app solutions.
No doubt, establishing contact with the ideal fantasy sports app development company will be quite fruitful.
It will let you obtain the desired results after a detailed analysis of the fantasy app project. This ultimately helps your business to derive a competitive edge in the market.
4. Choose the Ideal Tech Stack
When creating a groundbreaking fantasy sports application, you also have to focus on deploying the ideal technology stack to obtain the best results.
Usually, developers prefer to integrate leading-edge frameworks like Flutter, React Native, Node.Js, etc. to develop scalable, robust, and secure fantasy sports apps.
But it will be wise to consult a reputed custom mobile app development company. This will let you deploy the suitable technology stack based on your specific fantasy app development requirements.
5. Observe a Full-Proof Development Process
Every custom mobile application development company either observes Agile, Scrum, or other efficient methodologies to ensure timely project delivery with quality and perfection.
Besides, they also keep the clients in the loop to maintain transparency when implementing new features, functionalities, etc. into the existing fantasy gaming application to boost end-user satisfaction.
6. Conduct Rigorous Testing
It is time to assess the performance of your fantasy sports app on different platforms. This also involves collecting real-time feedback from beta users to know how much they are satisfied with the UI/UX design and other elements of the fantasy sports app.
Collecting genuine user feedback does help a custom mobile app development company to introduce the required modifications to optimize end-user experience pretty smoothly.
Similarly, running thorough testing also helps in detecting and eliminating bugs that eventually ensure the smooth working of the fantasy gaming application quite consistently.
7. Right App Marketing Strategies
When the release deadline of your fantasy gaming app is approaching, you have to concentrate on implementing suitable marketing strategies.
This shall help to boost curiosity and generate awareness among the target audience base. It will eventually help your app to gain massive publicity within a short time.
Hence, you have to obtain custom mobile app development services. It will help to finalize the ideal marketing strategies and tricks to help your fantasy sports apps receive surplus attention and craze in the market.
8. Support and Maintenance
As technology is rapidly improving, you have to keep your fantasy sports apps up to date to continue engaging the next-gen users. So, after launching the fantasy game apps, you must focus on adding advanced features and functionalities.
No doubt, receiving the assistance of a reliable fantasy sports mobile application development company will help to enhance user retention and the installation rate of your application quite smoothly.
Why Choose Us for Developing Immersive Sports Apps?
At Red Apple Technologies, we have been involved in serving clients with outstanding 360-degree solutions like the app and game development, art & design, etc. for over a decade. We always aim to convert your amazing ideas into successful applications of various types. We do have the vast industry experience and strong knowledge to create successful fantasy gaming apps. For instance, ‘The Score is Right’ one of our popular fantasy gaming apps is constantly receiving massive attention from sports lovers across the world. Similarly, our other gaming applications are also obtaining a widespread response from the global audience base.
We have smoothly delivered over 500+ projects with the active support of our 150+ professionals comprising diverse skill sets by maintaining quality and perfection. During our entire journey, we have served clients with next-gen solutions with Blockchain, NFT, IoT, AR, VR, etc. We constantly observe the latest industry trends to optimize the service experience of our clients. For executing projects of diverse complexities, feel free to connect with our enterprising professionals now.
How Much Does It Cost to Build a Fantasy App?
Answer: Creating a fantasy sports app may cost you around $20,000- $40,000 (Note: the development cost may vary). When developing a fantasy sports app, factors like project complexities, features/functionality integration, technology, stack, development team size, etc ultimately determine the right cost. Hence, it will be wise to consult a custom mobile app development company to receive a correct budget estimation.
What are the Key Features of the Fantasy Sports App?
Answer: When creating a fantasy sporting app, you must work on adding major features like an engaging UI/UX design, smooth signup or login privilege, secure payment gateways, analytics dashboard, players’ statistics, a news feed, social media buttons, live chat, etc.
How Does Fantasy App Work?
Answer: Users have to create an imaginary team of players whose virtual statistics will be compared and analyzed with the real match performance properly. Based on the earned points, users are rewarded appropriately.