Fantasy sports have gained an entirely new level of excitement in recent years. The sudden rise in fantasy sports has led the fanatics to a completely new experience of fantasy sports. Fantasy sports changed the way games were televised. Now, you can watch the games with live scores and statistics simultaneously.
With the plethora of devices launching every other week, we have witnessed a number of applications running on devices. And this report to a number of gaming apps that are widely used by the youth worldwide. All these applications are built up with a strong determination to lead the industry using very simple yet effective tips. All the igaming applications are built keeping in mind the users.
It is expected that The global market size for Fantasy Sports apps is about to reach a USD 26400 million in 2024. Speaking about the recent trend in fantasy sports America is the largest producer of fantasy sports with a huge market share revenue in this category.
What are fantasy sports apps?
Fantasy sports is a virtual game that gives you the experience of supervising real sports players. The players got indulge in teams of the fantasy sports they want to be a part of and enjoy along the process. The performance gets converted into points which inturn can be retrieved as real currency.
The development of mobile apps has helped fantasy sports to lead the industry as most of the players use mobile applications to play fantasy sports. Thus, fantasy sports applications are platforms through which the users get engaged with each other virtually.
Why plan for a Fantasy Sports App?
Delivering market ready products is very important and challenging. And when it comes to fantasy sports apps, it is very crucial to understand the demands from the users and create apps from their perspective.
The iGaming industry has foreseen a rapid growth in the demand of fantasy sports apps, especially in DFS. Therefore planning fantasy sports apps may result in large revenue generation and good market reputation, indeed it matches the users’ requirements.
Decent Costing of Fantasy App Development
There are various factors that determine the cost of development of fantasy sports apps. These factors include economic condition, region, technology, features, etc.
Cost of development for Android + Web + Admin panel costs you around 3000 USD – 5000 USD dollars wherein the cost of Android + iOS + Web + Admin Panel can cost you 5000 USD dollars – 10000 USD dollars.
Apart from these, additional customizations can add more to your bill.
There are two major factors that decide the growth of any business:
Talking about the industry, the global gaming industry has flourished since the early 20’s.
And it is undoubtedly proven with all the stats that it will be one of the greatest industries generating a huge revenue. There, planning a fantasy sports app and launching it adequately keeping in mind all the factors around it, will definitely hike the growth of the business.
User-engagement determines how users are engaged with your application. Since, the industry is growing at a fast pace, these applications have a great user-engagement, thus, here you already have a plus point to plan for a fantasy sports application.
The Real Money Game
The young generation is outpacing adults in this wonderful market of fantasy sports as it involves a big return value just with a small investment of money. Thus, the money is real unlike the word fantasy. As large as the world of fantasy sports is expanding, there is a huge amount of money getting involved in the business. The entire market of the dream world as it is named was worth 7.22 billion U.S. dollars in 2018.
Before we directly bump into what 5 things, here are some fewer known facts about fantasy sports app and it’s market (both Indian & U.S market):
- Every 2 out of 3 individuals know about fantasy sports that sums up to 67% of 18 crores online Indian cricket lovers.- IFSG-AC Nielsen
- Around 90% of the fantasy sports players play fantasy game once a month
- 64% of people watch live sports because of fantasy games
- DFS market is expected to $1.18 billion by 2020, with a CAGR of 55%
- With over 60 operators, India is the fantasy sports market is fastest growing in India
Here are 5 things to remember while planning for a successful fantasy sports app:
- Easy User-Onboarding
As this is the first step to any application, users usually have a tendency to eradicate all the lengthy steps and directly jump onto the application. These lengthy steps may include email and mobile verification or two-factor verification, updating and editing users’ profiles, etc. Easy user-onboarding is an effective way to engage your customers or users. So, a simple onboarding process that does not take much time and quick onboarding make it easier for the users to get on board and then quickly start with the application.
Enticing and alluring UX-UI has become a mandated thing these days to remain in this competitive world. Once the user is comfortable with the experience and interface of your application, he/she is likely to visit your application again. UX/UI decides the complete look and feel of your application, thus this is the major factor in deciding how serious the users are going to take your application.
Compatibility refers to the ease of the application adapting with different environments, in other terms, it means that the application is running smoothly on types of devices that include mobile, tablets, phablets, desktop, etc. A compatible or responsive web application has more chances of users getting involved and engaged than the one that is not.
- Multiple & Secure Payment options
Since fantasy sports applications require the involvement of money, users prefer applications that have multiple payment options with the ability to transact securely because money is what users are playing for. Thus, affording any kind of loss or glitch with money may result in the ill reputation of the application in the market.
- Seamless & Exceptional Gameplay
Seamless and exceptional gameplay is letting your players experience a completely rich experience, different from others. Defining the graphics of your application also matters the most. Supporting multiplayer of course remains a mandate for fantasy sports applications.
So, listed above are the top five features every fantasy sports application must-have. Do you know more features, comment below in the comment sections? Thanks for reading.
GammaStack is a recognized software provider of fantasy sports platforms. Expanding its business to sports betting and esports platform GammaStack has added many awards and recognition in its feathers. Having expertise in developing both android and iOs mobile applications, we understand the demands and requirements of the users from the fantasy sports world. Backend by a team of skilled and experienced developers, we are bridging the gap between the users and the technology by using high-end technologies that include flutter, react, android studio, xamarin. We have domain expertise for more than 5 years now and are looking forward to exploring a large dimension of igaming platform development business.