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Cricket is the leading sport that has familiarised the concept of Fantasy sports software in the nation.
Cricket is the most popular sport that is followed globally and comes after football with a huge viewership that goes beyond 2.5 billion in numbers.
Over the past decades, cricket has evolved and flourished into a full-fledged industry, and the various contributing elements are celebrities, corporates, fans, league, tournaments and a few more that are associated with it.
In the upcoming days, will see the indian premier league will buzzing around in indian minds, On 18th of February 2021, is going to organise an auction of cricket players. It will be total of 292 cricketers are shortlisted out of 1,114 players. It’ll be interesting, to know who will be highest bidded of the night.
In India, cricket is not just a sport but is considered as a religion and is worshipped by the younger as well as older enthusiasts.
The outbreak of the deadly virus from the initial phase of the year 2020 impacted the sports events, however gradually the restrictions that were imposed are getting relaxed, and the BCCI showed green signal to conduct the IPL 2021.
The announcement has revived the demand for new fantasy sports platforms. There are many reasons that make investing in fantasy sports development a lucrative business venture, and this article aims to cover the top 5 of them.
Concept Of Fantasy Sports
The concept of Fantasy sports emerged from the United States in 1952. However, a drastic surge in popularity has been recorded in recent years.
ESPN Star Sports marked the beginning of fantasy sports in India. The platform could not manage to be a success, but various other fantasy sports softwares created the market that later on expanded drastically. Various surveys were conducted that revealed a tremendous market, with over 20 million active participants in the year 2018.
The thrill experienced on engagement in fantasy sports is predicted to attract more than 100 million users by the end of this year. With the help of an experienced fantasy sports platform provider like BR Softech Pvt. Ltd., you can take the opportunity and invest in a feature-rich fantasy sports app to earn profits during the ongoing IPL season 2021.
Apart from cricket, you can consider linking other games like basketball, football, hockey, kabaddi etc. depending on the demographic of the targeted regions.
Top 5 Reasons To Start Fantasy Sports Software
Refer to the reasons that are mentioned below and likely to boost up your confidence in the fantasy sports platform development.
- Increasing Fanbase
The concept of fantasy sports has taken the sports viewing experience to the next level. It has provided the new dimensions to the way the views used to look at any sports events.
In short, it has enhanced the viewer-engagement experience in many ways— one being that it offers the opportunity for the user to create a virtual team of real-world players. What comes next is the revenue generation based on the performance of the dedicated players and team in real life.
Affordable smartphones and easily accessible internet connectivity are the two major factors that facilitated easy penetration in the domestic app market.
The role of social networking platforms and endorsement with popular celebrities and superstars is also a reason for the increase in the craze for fantasy sports platforms.
Considering the ongoing IPL season and other tournaments that are yet to be organized, investing in a fantasy sports platform for cricket can be given a thought.
The Indian federation of sports predicts that out of the total 850 million sports viewers that are dedicated to cricket, an approximate of 400 million viewership is accounted for via mobile platforms using the internet.
Experts predict the number of fantasy sports users to reach up to 200 million users by the end of this year. This huge figure could be accommodated only with more and more fantasy sports platforms featuring real-time updates and user-friendly interface.
Hence, the increasing fanbase is enough to demand the attention of fantasy sports app developers into app development with advanced capabilities.
- Lesser Competition
Leaving an impression in a crowded market can turn into a serious challenge. However, things get pretty easy when it is for a domain with less market awareness.
Fantasy sports is one such platform that is in its initial development phase. The fact that there are fewer brands that deliver a smooth fantasy sports gaming experience makes it a better opportunity to fill up the void with an advanced fantasy sports app.
>>>Read More: Features & Cost for Fantasy Cricket App Development Like Dream11 <<<
There are various sports that have an existing demand for fantasy sports that is mentioned later in the article.
The legitimacy of fantasy sports is one of the most asked questions when talking about fantasy sports app development. The concept is openly adopted in many nations, including India.
Fantasy sports, unlike other sports-related luck-based games, is a purely skill-based game making it legitimate in the country.
Hence, it is the main reason behind the encouragement of many enterprises for investing in fantasy sports platform development.
The impact of COVID-19 has caused such havoc that it has forced the people to go inside maintaining the protocols of social distancing. Following the norms, many businesses are resorting to online modes for extending their goods and facilities.
The commencement of IPL is a piece of news big enough in itself that revived the fantasy sports software development that was inactive for a few months.
- Access To Trusted Streaming Partners
Due to the technological advancements and improving purchasing power, the concept of fantasy sports has started penetrating deeper to register itself as a potent source of entertainment.
Moreover, the fantasy sports platform has undergone a series of improvisation that makes it stable enough to motivate more and more players to be a part of the concept.
Some exclusive features such as achievements, badges, loyalty programs and many others further play a vital role in elevating the user experience.
Also, various streaming partners are now easily accessible that facilitates the viewers to engage in their favorite fantasy sports.
Popular Fantasy Sports
The fantasy sports platforms earlier laid emphasis on sports like baseball, cricket, and football; however gradually with globalization and technological advancement, the concept crept into many other sports such as fantasy kabaddi platform, fantasy hockey platform and many more.
Apps like Dream11 can be an ideal example of an all-in-one fantasy sports platform. The app is known for its versatility and hosts a long list of fantasy sports games. Leagues and tournaments like the Pro Kabaddi League, Indian Premier League contributes to most of the viewership that engages the user.
Fantasy sports platforms like BalleBaazi and MyTeam11 are some other examples that provide an immersive experience with its real-time notification and other hosts of features.
Fantasy sports is a diverse concept that accommodates a variety of sports and showcases many sports events. To decide the basic features and the layout of your fantasy sports app platform, you are suggested to go through the market segmentation of fantasy sports to develop a better understanding of the concept.
Based on gender, almost 81% out of a total of 100% that are active in fantasy sports are men, and the remaining 19% are women. The receptivity of men towards sports is the reason behind higher men’s involvement in fantasy sports when compared to women.
However, the increased leaning towards women-oriented sports has certainly encouraged women to participate in skill-based fantasy sports.
The classification on the basis of the sports can be done by breaking it in several modules. The most popular sport that is always seen as trending in football with 78% of the viewership.
Fantasy sports software is expected to witness a surge of 3% by the end of the year 2021. In terms of revenue generation, it is expected that the concept will attain a market worth of at least $8.2 billion. However, these figures are likely to influence due to the COVID-19 epidemic.
If we calculate an average, the industry has witnessed an annual growth of 2.4% in the past 5 years.
The sector is also enriched by regular improvisations that are achieved over its journey, making it way ahead of other software solutions determined to entertain with a touch of sports.
Making The Presence Felt
Certainly, there are some key factors that you need to keep in mind to ensure that the presence of your fantasy sports platform does not fade out.
First of all, it is mandatory to keep an eye on the market. Staying alert will help you get an insight into what the competitors have to offer that will eventually help you to emerge as a winner amongst the many competitors.
Secondly, it is important to study the demographics of the targeted region. It is advised to develop a platform that meets the needs and expectations of the audience at any particular location.
Opting The Best Fantasy Sports Software Development Company
With many software development companies boasting their skills in the market and claiming to be the best, selecting a reliable one can be a challenging task.
The first step towards opting a good software development company is to conduct a simple Google search. After having a list of the many software development companies, the next thing that is suggested is to look after the ratings and reviews given by the clients.
Also, it should be ensured that the team of developers that are going to take on your project holds expertise in fantasy sports app development. A newbie developer might land the whole project in trouble. Hence, an experienced fantasy sports developer should be hired to deliver a glitch-free experience.
Moreover, make sure that the developers collaborate with reliable third-party providers for data feeds, payment gateways and much more facilities.
After reading this article, you must now be aware of the concept of fantasy sports, its history and current market worth. With almost all the businesses operating at their lowest capability, investing in an online fantasy sports software can be a lucrative decision.
Even during the unlock phase, maintaining social distancing and avoiding stepping out of the private premises is recommended. This leaves the users with not many options rather than spending most of their time with technical gadgets like smartphones.
Following the initiation of the sports season, IPL 2021, investing in a fantasy sports app development is encouraged following the positive response that is being showcased by the users.
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.