I am Nitin Garg Founder of BR Softech PVT LTD - an Award-winning mobile game development company. We are armed with 180+ geeks & 2753 clients worldwide, I have driven by the spirit of entrepreneurship and dream to build a billion-dollar-company.
Do you want to launch your own fantasy sports app? However, do you know what is the best time to launch your own fantasy sports website? If you are not familiar with the answers, here is the blog for you!
The fantasy sports market has been rising tremendously in recent years. One of the most prominent factors for the rapidly expanding market is the escalation of the digital sector in developing regions of the world. A significant rise in the number of internet users and affordable smartphones and handheld devices is driving the growth of the fantasy sports market. The ever-expanding market is one of the most lucrative and profitable industries in the world.
The Fantasy Sports app helps connect fans with their favourite sports and allows them to step into the manager’s shoes and operate a full-fledged sports team.
However, fantasy sports are often mistaken for illegal sports betting, though they are completely skill-based and do not rely on luck. Furthermore, the legalization of Fantasy Sports websites will also play a major role in boosting the popularity of these platforms even further.
Are you looking to create a sports website and earn big this season? This blog will enlighten you about why 2024 is the best time to step into the Fantasy market and enjoy hefty rewards.
Table of Contents
Fantasy Sports Market Overview
Ever since the pandemic, the popularity of Fantasy sports platforms has been constantly on an upward scale. However, the laws related to Fantasy sports are vague in countries like Indonesia, Macau, Japan, Malaysia, etc. Still, these platforms are popular worldwide and have been registering a massive user base in various regions of the world.
The Fantasy Sports Market size is estimated at USD 32.75 billion in 2024 and is about to reach $62.58 billion by 2029. The market is growing at a CAGR of 13.83% during the forecast period (2024-2029). Moreover, the increasing popularity of players, the emergence of sports leagues, and increasing digital and internet infrastructure fueled the growth of fantasy sports. The growth is unmanageable and is readily increasing in a manner like none other.
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How Do Fantasy Sports Apps Work?
If you are new to the world of fantasy sports, make sure to know how they work. Fantasy sports app features a user-friendly interface and navigable controls that streamline the experience of the users. Here is the list of steps that you must follow to use the fantasy betting app:
- Step 1: Choose your Preferred Fantasy Platform.
- Step 2: Log in to the Platform and select the match or league you want to participate in.
- Step 3: Draft your own Fantasy team. Depending on the sport, you need to draft a roster of players who will be playing and additional substitutes. In Cricket, you will have to create a team of 11 players from the available selection. Some popular methods of creating a team include auction-based, Serpentine, Offline Drafting, etc.
- Step-4: Modify your team as per your needs. Make changes in the formation and the players who will be playing in various positions. You can modify your team at any given time before the locking period.
- Step 5: Let the match unfold and wait for the final results. The final result is determined by the accumulative points of all the players in your team. If the players play well, your team receives more points.
The interactive and anticipative gameplay of fantasy sports platforms is one of the major reasons why people gravitate towards these platforms.
Why Invest in Fantasy Sports Apps?
There are a lot of business opportunities in the fantasy sports app development segment. Creating a fantasy sports website will help a business owner generate high revenue by making use of multiple monetization strategies.
Here are some benefits of investing in a fantasy sports website-
Although some countries still consider fantasy sports illegal, there are many countries where operating a fantasy sports website is completely legal. A business owner can target the jurisdiction with the most amount of traffic to help boost the business. The United States of America, the United Kingdom, and India are some of the biggest fantasy markets where the segment is legal. You can take advantage of the massive user base in these regions to help your business grow rather quickly and expand to newer regions.
Low Investments, High Rewards
With the advancement in technology, fantasy sports app development is now cost-effective and reliable. Nowadays, fantasy sports websites ensure high returns on a relatively low infrastructural cost. This is one of the main benefits which attracts entrepreneurs towards this industry.
Although there are a plethora of fantasy sports websites, there is still a high demand for reliable and efficient fantasy sports platforms. There is comparatively less competition than in other industries and if your online fantasy platform is reliable and efficient, you can ensure your success with the help of marketing strategies and promotional campaigns.
The fantasy sports industry is closely linked with the sports industry. In fact, various big names in the fantasy industry are in partnerships with major sports teams. The industry provides several business opportunities if you stand out in the market. Collaboration with a major sports team will give your fantasy sports business a huge push and skyrocket it to new heights.
Why 2024 is the Best Time to Launch a Fantasy Sports App?
Fantasy sports websites heavily rely on sporting events as the results of a match or league are determined by an actual real-world match. Due to this reason, these platforms can take advantage of seasonal leagues and earn hefty profits.
Fantasy sports like soccer are one of the most popular in various regions and the World Cup is one of the biggest opportunities for users as well as businesses to earn big this season. Here are some major sporting events that will happen in 2024 that can boost your fantasy sports business to new heights.
Cricket World Cup
The 14th Cricket World Cup will take place in 2024. It is arguably the world’s fourth-biggest sporting event. Cricket is the most popular sport in India and is the most played fantasy sport in the region. Business owners can take advantage of the exciting tournament and generate hefty revenue during the World Cup season.
2024 FIFA U-20 Women’s World Cup
The most important tournament for Women’s football(soccer) will take place from 31 August to 22 September 2024. It is going to be the third time that Colombia has hosted a FIFA tournament. It will be a fantastic opportunity for you as a business owner to grow your fantasy business as seasonal tournaments like these are highly beneficial for fantasy platforms.
Euro 2024 is organized by the UEFA European Championship which aims to bring together the best national teams on the continent every 4 years to compete in this knockout tournament. The edition of 2024 will take place in Germany, ensuring passionate sports fans get connected via a reliable fantasy sports application. Therefore, you can seek a first-mover advantage by launching a trustworthy and credible fantasy sports application.
It is one of the most prominent football tournaments which will bring forth ten national teams from South America and six teams from North America. It will be organized from June 20 to July 14, and iconic cities across the United States and welcomes hundreds of thousands of soccer fans as they host the tournament for the first time. This offers users a chance to reap huge profits out of fantasy sports applications.
Major Sporting Events in 2024
Jan 7–28, 2024
ICC World Cup T20(Women’s)
10 Feb 2024 – 26 Feb 2024
ICC World Cup(Men’s)
1 June – 29 June 2024
February 11, 2024
May 4, 2024
16 to 25 February 2024
Busan and south Korea
May 26 – Jun 9, 2024
Top Fantasy Sports Applications in the Market
The fantasy sports market is dominated by these applications. Make sure to take a look at these platforms and incorporate their features into your own application while creating a sports app.
- Yahoo Fantasy Sports
- ESPN Fantasy Sports
- Super Draft
These applications are the top contenders in the market and have been the pinnacle of fantasy sports for a long time. Studying these platforms can help you develop a highly efficient and reliable platform that can fetch huge profits on your investment.
Why Choose BR Softech to Launch Fantasy Sports App in 2024?
BR Softech is a renowned fantasy sports development company that can offer you highly professional and feature-packed fantasy sports apps that are reliable and scalable.
If you are planning to invest in Fantasy sports, 2024 is the best time because tons of major sporting events are scheduled for the year. It can be the perfect time for your new business to make a name for itself in the industry and enjoy worldwide popularity.
With the help of effective marketing strategies, several monetization strategies, and exciting features, your fantasy platform can surely stand out in the market and fetch hefty returns. Create a sports website now and tap into the potential of the fantasy sports industry with reliable and cost-effective customized development solutions by BR Softech.
- The fantasy sports market is booming and its popularity is only going to expand further in the upcoming years. It will be beneficial for a business if you plan to create a sports website in the coming year.
- There are a lot of benefits to investing in the fantasy sector. Minimal Competition, high ROI, and brand collaboration are some of the major benefits. You can also take advantage of multiple monetization strategies like league entry fees, in-app advertisements, and brand promotion to boost your revenue even further.
- The upcoming year will prove to be very beneficial for the fantasy industry. There are major sporting events that will boost the popularity of fantasy sports platforms and business owners can certainly take advantage of rising public interest.
- You as a business owner should study your competitors before investing in the market. There’s a reason they are dominating the market and it will be helpful for your business if you can also provide similar features and offers.
Frequently Asked Questions(FAQs)
1 Which Fantasy Sports are the Most Popular?
The popularity of fantasy sports differs from country to country. While Americans love playing fantasy football, Cricket is the most popular fantasy sport in India.
2. Which is the No 1 fantasy app?
Dream11 is the best fantasy app that you must try in 2024.
3. What is the Cost to Develop a Fantasy Sports Website?
Fantasy sports website development cost is dependent on various factors. On average, creating a fantasy sports app can range from $30,000 to $40,000. Read more
4. Do you Provide Customized Fantasy Sports Platform Development?
Yes, we provide customized fantasy sports platform development and our customized solutions are tailored according to the client’s requirements.
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