Being interested in sports betting as you are, you’ve started thinking of starting online sports betting business of your own. The best reasons to back up your idea is that online sports betting business is a valuable deal to work on as it offers you the following advantages:
- It’s simple- Apart from being simple, what makes sports betting look good is that it’s interesting too.
- It’s a wide-market business- Majority of people around the world follow sports and love the industry thus making sports betting as a good option for business and participation from sports fans.
- You can make money at it- Well, who doesn’t like money? And when it comes with such an interesting option, no one can say no to big bucks.
Having said that, we are also aware of the fact that many sports geeks and startup enthusiasts probably have these reasons in their minds too. The simplicity and interest factors make online sports betting business an open option for many growing businesses. This, in turn, increases the level of competition and makes the overall scope challenging.
The solution is to opt for methodologies that’ll make you and your online sports betting business stand out from the rest of the crowd. Here are five tips to get started with online sports betting business of your own:
Know the field better- Sports betting sure seems easy, simple and fun when it comes to playing but when you own online sports betting business, things change. You need to take care of the users at priority while maintaining your website business. Due to these reasons, it becomes highly important to understand the field of business inside out. According to Statista, the global online gambling market has grown at a consistent rate over the last few years from around 20 billion U.S. dollars in 2009 to more than 40 billion U.S. dollars to date.
These increasing numbers state that a lot of people will be taking interest and putting value in this business. In order to penetrate the markets better, you should ensure thorough knowledge of the industry.
Register your sports company- Once you are done with the research p
Let’s start with some stats first-
- According to Statista, the total number of mobile phone users worldwide expected by 2019 is 5.07 billion out of which 2.71 billion will be smartphone users.
- In 2017 alone, there were 320.57 million active internet users on Mobile.
- According to the latest report from Newzoo, estimated global mobile app revenue in 2018 was $92.1 billion and 76% of all app revenue comes from mobile games itself.
- 178.1 billion mobile app downloads was recorded worldwide in 2017. It is expected to grow to 258.2 billion by 2021.
- Mobile devices excluding tablets accounted for 49.73 percent of web page views worldwide
These stats are a clear indication of where the digital audience is moving and mobile is without any doubt the best platform to reach to them easily.
No doubt fantasy sports is a big business in the USA and is the most trusted horse to bet on, in the gaming industry, especially the European region. In order to further enhance the reach of this industry, it makes complete sense for existing fantasy sports businesses to go for fantasy sports mobile app development. The above figures give an assurance to the fact that the mobile first approach makes complete sense for fantasy sports start-ups and other businesses planning their entry in this space.
In the last few months, the fantasy sports industry has seen some strategic realignments by major stakeholders that confirm the mobile-focused approach of businesses and investors. To quote a few:
- WinView Inc, which is the leading second screen sports prediction platform in the USA announced a 12 Million Series B funding from global investors like Ted Leonsis’ Monumental Sports & Entertainment, Graham Holdings Company, Discovery Communications, and LionTree Partners. The app is available on both iOS and Android.
- European bookmaking giant Paddy Power Betfair confirms its entry in fantasy sports markets by investing $19 Million to acquire DRAFT, which is a daily fantasy sports mobile app.
- Hypsports, a Florida-based start-up that brings eSports and fantasy games together have launched their iOS and Android app in the month of June this year. The company started in April 2016 and has raised $2.5 million through fan fund.
These and many more are clear indicators that the future of fantasy sports industry lies in mobile apps and mobile-friendly platforms. If you are also planning a fantasy sports mobile initiative for your business, then you are moving in the right direction.
We can help you with your mobile plans. GammaStack is a team of fantasy sports mobile application developers who have expertise in native mobile app development as well as hybrid cross-platform app development. More than 6 years of iGaming experience and our work in some of the most complex yet engaging fantasy sports application development is what differentiates us from the rest in this space.