Daily fantasy sports (DFS) can be considered the simplest form of fantasy sports games. It is essentially a form of fantasy sports game where players compete with each other for a couple of hours or a couple of days rather than over an entire session as usual.
In simple words, daily fantasy sports is something where you can draft your team before the start of the match. At the end of the day, or game, the results will be announced, and the winning amount will be distributed shortly thereafter.
Recent years have seen a steady rise in the popularity of daily fantasy sports betting, which is leading to the increased adoption of DFS on fantasy sports websites. A few examples of such websites are Draftkings and FanDuel.
Fantasy sports business revenues amounted to $7.77 billion in 2019, registered a massive increase, and became the economy of $8.48 billion in the year 2021.
Market Overview of Daily Fantasy Sports Business Revenue
Online fantasy sports have grown at a tremendous rate due to the surging usage of digital platforms. Indian daily fantasy sports apps have seen more than 160% growth in just one year. From INR 920 crore in Financial Year 2019 to INR 2400 in Financial Year 2020.
Due to the continuous growing growth in smartphone usage, high-speed data, and the ever-increasing fan base, these online fantasy sports platforms resulted in high-class features. Most millennials are taking a deep dive and pursuing a career in the fantasy business. These demands have led daily fantasy sports businesses in INDIA to double in the last four years and are expected to reach INR118.8 billion.01 by the end of 2023.
Daily Fantasy Sports Market Landscape
At present, the daily sports industry is at a beginning stage, with various new businesses contending to draw in the country’s 800 million game viewers. This pattern will continue as these organizations push into different gaming associations to attract sponsors, clients, and financial investors.
Apart from Indians’ endless love for sports, particularly cricket, ease of data plans, and high penetration of cell phones have given these fantasy companies a potential valuable wager for most investors. In the course of recent years, investors have earned around US$ ~112 million into India’s Fantasy Sports Platforms.
The fantasy sports app is a multifunctional platform that offers a wide range of features to its users. Most leading fantasy sports app development companies are coming up with top-notch features with high-class security panels.
The ever-increasing rise of daily fantasy sports apps owns the flexibility that offers the potential to play at any time and anywhere as per their preference. Even one can wage while sitting at home.
The fantasy sports market is subdivided into three legal formats. This sub-classification includes:
If the player has performed well and ends up winning the game can earn a good amount of money or other enticing rewards.
Why is Daily Fantasy Sports Business the Key to Success?
Daily fantasy sports can be a lucrative business venture and will give you a significant boost on the market to amplify your earnings. However, due to a lack of knowledge or understanding, you might face a hard time while starting your fantasy sports business.
The journey to starting a fantasy sports business begins with great fantasy sports business ideas. Providing the player’s ability to place bets on the daily fantasy sports business tournament is the great idea of new days to bring more business. The process of starting a fantasy sports business includes some other steps, in addition to great fantasy sports business ideas.
We advise you to go through our blog on how to start a fantasy sports business to gain an ample understanding of the fantasy sports business and how it can be started.
How To Start A Fantasy Sports Business?
At present, the dream sports industry is at a beginning stage, with various new businesses contending to draw in the country’s 800 million game viewers. This pattern will continue as these organisations push into different gaming associations to attract sponsors, clients and financial backers.
Apart from Indians’ endless love for sports, particularly cricket, ease of data plans, and high penetration of cell phones have given these fantasy companies a potential valuable wager for most investors. In the course of recent years,Investors have earned around US$ ~112 million into India’s Fantasy Sports Platforms.
Key Factors to Get Good Revenue from Fantasy Sports Business
As more fantasy sports companies enter the market, there is an increase in competition. Businesses need to do everything within their power to maintain their position. Below we have discussed a few of the factors to pay attention to in order to get good revenue from fantasy sports.
Focus on Fantasy Sports Business Plan
All the companies operating in the competitive landscape of the fantasy sports market need to construct a business plan to identify the untapped business segments. Make sure you develop a competitive strategy that makes you stand out from the crowd. BR Softech can work with you to develop a fantasy sports business plan that sets you apart from the sea of competition.
Fantasy Sports Business Model
The business model plays a vital role in boosting the revenue of the fantasy sports business. Having a clear and highly effective fantasy sports business model will outperform your revenue. Generic fantasy sports business models may seem like a good idea, but they won’t help you to increase your revenue enough. Apart from the generic model you also need to do some research to construct some business model that can give you better traction in the market.
Fantasy Sports Business Marketing Plan
Without having a fantasy sports marketing plan you won’t be able to reach your target audience. Nowadays the importance of online marketing has significantly risen.
Social media platforms such as Facebook, Twitter, Instagram, and YouTube are some of the widest used online marketing tools to improve the brand awareness of your daily fantasy sports business in the market.
We advise you to formulate multiple marketing strategies to ensure your reach to a maximum audience base.
Top Market Players who have captured the Indian Fantasy Business
Seeing the craze of fantasy games, domestic and other exponential markets’ success had led to a new interest in foreign investors. These had risen in user engagement that led the daily fantasy sports market to hold a great position in India. Multiple fantasy sports platforms continuously make it a user engagement momentum for sports lovers.
Fantasy sports is all about the presence of the mind, where the user has to apply their mind after analyzing all the situations.
The biggest players in the fantasy market are:
Dream 11 is one of the world’s biggest and most trusted fantasy cricket games that offers multiple opportunities to win the cash prize. Dream 11 is exponentially growing with a more than 50 million user base and has become a favorite spot for sports lovers. The app comes with impressively rich features that make every game exciting for sports fans.
- The user gets multiple options to choose their favorite players
- It sharpens the mind.
- The winning amount can be in crores.
My Team 11
MyTeam11 is considered the second largest market leader in India and the most popular brand in fantasy sports. MyTeam11, which was launched in 2016, is currently acquiring a more than 15 million user base. These apps are boosting online fantasy gaming, which results in engaging sports lovers with thrilling contests and various modes of the games.
- Easy user interface options
- Multiple selecting teams
- Accessing anywhere
- Easy to use
My Circle 11
My circle is a fantasy app that provides you the option to create a team of 11 players and battle with other teams. Players can earn real money in every match by participating in this featured league. It also comes with a Rs 500 bonus and other unique features that can be used while playing the real game. Download my circle app and explore some cricket skills.
Halaplay is the most popular fantasy cricket app that offers a daily play league to its registered users. Halaplay Fantasy has a unique payout structure where users can create and edit their team players before the match starts. You can even select one captain of your choice. Register yourself for the free sign-up process and start winning prize rewards by participating in this cricket league.
- It is one of the most trusted brands.
- Comes with rich features
- Earn a huge amount of money
League X Fantasy App
LeagueX is a new Fantasy Cricket App that gives more chances to win real money. This app comes with some unique features as these apps allow the user to choose only Batsman or Bowlers.
League X has basically three types of playing modes that have gained a lot of gamers’ attractions. Now anyone with cricket knowledge can sign up and play a game in this wonderful game. You will get Rs 25 instantly when your referred person deposits for the first time.
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Factors Contributing Towards the Growth of Daily Fantasy Sports in India
A major reason for the success of daily fantasy sports businesses in India is their legalization. Legalization gave birth to a huge number of daily fantasy sports applications that are 100% legitimate and authentic to play. Furthermore, daily fantasy sports betting is considered a game of skills rather than a luck-based game. Hence anyone with a passion for sport takes daily fantasy sports betting as an opportunity to cash out their sports knowledge and skills.
Besides these, we have also mentioned a few other factors that are contributing to the success of fantasy sports in India.
- Easy access to the internet and smartphone became the reason behind the significant rise in the popularity of the daily fantasy sports business.
- Cricket is like a religion in India, and the players are like the biggest celebrities in our country who are loved by almost all age groups. The never-ending love for cricket leads the fantasy cricket market in India to hold first place with more than 77% of the users.
- Following the other games, football is also emerging with great pace and holds second place with 48%. Kabaddi, Basketball, and other games are in the other remaining percent. Sky sports applications. The fans of these sports invest their time in daily fantasy sports websites or applications to make some money.
- Subsequent to getting positive outcomes on My Dream 11, My Team11, and other wagering platforms. It expands the scope of reaching masses outside cricket like the Pro Kabaddi, Badminton League, and much more.
Why Leverage Fantasy App Development Services?
Even though the online fantasy sports industry is very lucrative, fierce competition is the biggest challenge. The foremost thing a fantasy sports development company has to do is develop a unique and highly differentiated fantasy sports platform and site to thrive and stay ahead of the competitors.
Custom fantasy sports app developers are providing up-to-date functionalities with a promise to enhance their gaming experience. The API-based services enable developers to add legal gaming apps where bettors can easily earn real income without any hassle.
In the End
In the most prominent scenario to deal with, the proportion of fantasy sports buffs in India is increasing steadily. By offering high-class features and user-friendly most daily fantasy applications development providers offer high-class features and user-friendly while ensuring white label fantasy sports software solutions.
It will be imperative for e-sports companies and organizations to join hands and resolve the above challenges with rapid growth. The e-sports and the overall online gaming space are seen in India to ensure that growth momentum is sustained and India as a nation will look to compete in the coming years with the top global e-sports destinations.
Create an advanced and enriching solution for fantasy sports applications with expert professionals. To make predictions simple and smoother, BR Softech is a leading fantasy sports app development company that gives extra attention to data, expertise, professionalism, and modern trends. Be a part of this rapidly rising billion-dollar industry while encouraging users to play fantasy sports virtually.
BR Softech Pvt. Ltd. excels in providing cost-effective IT Solutions. Established in August 2010 with over 10+ years of rich experience. An Apex rated IT serving company around the world. Our team of innovative and creative designers deals in web designing, mobile/ software development and other digital marketing services intending to deliver outstanding digital outcomes.