A Comprehensive Guide On Executing Fantasy Sports App Development

Posted by Amit Malhotra on April 29th, 2021

Did you know that the first fantasy sports league was operational in the USA, and the sport focused on golf? It wasn't able to expand much due to certain limitations. The internet has successfully tackled those limitations, and millions of leagues exist for a plethora of sports. The USA and Canada alone boast over 50 million leagues. Thus, there is no doubt about the profitability of this industry. If you have been thinking of testing the waters of fantasy sports, too, then you have clicked on the right page. Today, we have written a comprehensive guide on how to start a fantasy sports business and choosing the right fantasy sports app development company in India.

What are fantasy sports?

Before learning about how to start a fantasy sports business, it is essential to know what it means. It is a virtual team selected usually by the fan of the game digitally. The user earns scores based on the performance of his chosen players in the actual game. The users compete against other users, and the user with maximum scores wins the game. The price is often money.

A study on the market

Entrepreneurs worldwide have realized the untapped potential of this market. Researchers predict the market size to expand to .6 billion globally by the year 2027.

However, you must know some facts about the market before you decide to develop your business model. The most common sports chosen in this industry are football, cricket, hockey, baseball, and basketball. Currently, football dominates the market share; however, a steep rise is expected in the cricket segment.

Websites and applications both are an option. However, due to the mobility of smartphones, applications dominate and leads in the market. Predictions suggest that their domination will continue to increase.

Decoding the mechanisms of the application

Now that you understand what fantasy sports are, understanding the interaction between the player and the application can help you solidify your knowledge of the same.

When a user wants to start playing, the player plays in this fashion:

  1. Entering the desired match. Not every platform chooses to niche down and operate on a single sport. When there are multiple sports, the players select the game.
  2. Team formation is the next step. The number of players in the virtual roster depends on the number of players in the actual game. This process requires analytical skills. Studying the previous performances of the player and picking the ones that performed involves patience and skill.
  3. Every team requires a capable leader. The player proceeds to choose a suitable captain.
  4. Managing a team is no joke. The player can anytime change, replace, and modify their team to make the perfect team.
  5. When the real-time game ends, scores of different players are collated. The player will maximum scores is declared the winner and is given the pre-decided award.

Study the competitor

In school, healthy competition among classmates leads to students utilizing their potential and stepping out of their comfort zone. Students prod and ask their fellow friends about their strategies and methods. In a business, one cannot do that. However, you can access public information to see what worked for your competitors and what didn't. Analyze the companies already in the market. Read the reviews and testimonials they get. What are the users of the fantasy sports app saying about the available applications in the market? Is there a gap in the industry? If yes, then focus on finding a solution for it.

Use technological trends to your advantage.

Innovations occur at the intersection of two already existing ideas. Leverage the modern technologies in your application. 

1. Artificial Intelligence to enhance the gaming experience

Artificial intelligence and deep learning algorithms have made it possible to study individuals' behaviors and tendencies and offer them their preferences. By integrating AI in your application, you can enhance their gaming experience. Addressing personal preference is possible via AI. Make sure to partner with a fantasy sports app development company that can seamlessly integrate AI.

2. Getting lost in the game using VR

Virtual reality has made it possible to deliver an experience to the users who forget they are in their homes. They can immerse themselves entirely in the game and enjoy the game like it's happening in front of them. Exploit this to your advantage and partner with a suitable fantasy sports app development company that can make it a reality. 

3. Cryptocurrency is the new currency

Cryptocurrency is an industry that is seeing staggering growth. The future belongs to the tech-savvy generation. By integrating cryptocurrency, you include tech-savvy users. 

4. Word of mouth (stories and posts)

Spotify was able to expand and blow up once they introduced sharing songs on social media platforms. Adding this feature is the best free marketing you can avail of. Turn your customers into loudspeakers for your brand.

Choosing the appropriate fantasy sports app development company

Once you decide on the features and sport(s) of choice, it is vital to choose a fantasy sports app development company that understands your vision. Appropriate experience is required, and their portfolio of clients matters the most. Fantasy app development is not easy, but with a competent team, it becomes easier for you.

We hope this article gave you actionable tips on how to start a fantasy sports business. The fantasy app development process has challenges, but with the right strategy, one can change the industry altogether.

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Amit Malhotra

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Amit Malhotra
Joined: February 26th, 2021
Articles Posted: 3

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