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Fantasy Sports

Sports Prediction Software – Investment Opportunities for Startups & Entrepreneurs in 2023-24

written by Nitin Garg | Nov 26, 2022
Sports Prediction Software - Investment opportunities for startups & entrepreneurs in 2022-23

Fantasy sports apps have become increasingly popular in recent years. Consequently, sports prediction software is becoming more popular. Throughout the years, we have seen numerous fantasy sports apps all over the globe. Naturally, this has influenced the success of all startups and aspiring entrepreneurs. 

There is another level of thrill and excitement among fans when they are able to predict what’s going to happen next during a game. This is why Sports Prediction Software is used by many brands in the fantasy sports app development industry to entice and enthrall their fans. However, first, let’s clarify what sports prediction software actually is.

Sports Prediction – What is It?

In order to win a Fantasy Sports league or contest, one must make accurate predictions. Predicting the performance of the player is a good way to build a winning team. Sports prediction is an enormously lucrative business. 

Users of the Fantasy Prediction Application can make accurate predictions and win with the application. Anybody can join by giving their basic information, and there are no fees or bonus offers associated with joining this site or app. 

A Market Analysis of Fantasy Sports Prediction Apps

Statista indicates that 85% of users prefer mobile apps over websites while only 8% prefer online fantasy sports.

There were 18.6 billion dollars in fantasy sports market revenue in 2019. Market size is predicted to increase by 13.9% CAGR over the next decade, reaching over $48 billion by 2027.

Football prediction apps currently lead the market, and we can expect to see them dominate for many more years to come.

The rapid growth of digital infrastructure in developing countries is driving the development of sports prediction apps. The number of internet users in India is predicted to reach 974 million by 2025.

Mobile Game development has grown significantly due to the decline in the cost of smartphones and the internet.

We Offer Several Contests Through Our Sports Prediction Software:

Easy Contest

Simple Contests are games in which the player with the highest score wins.

Contest for trophies

Trophies are awarded to the winners of each match in a contest. They are similar to knockouts. These types of contests require a great deal of courage.

Tournaments & Leagues

In the league, participants want to compete against each other in this game. Only the winner advances.

Drop Off

 In this contest, there are eliminations and promotions for each round. Players who lose the game are eliminated from the contest.

Read More: A Complete Guide: White Label Esports Betting Software Development

Our Sports Prediction App: Key Highlights

Global pools that are ongoing

We provide your customers with the opportunity to join global leagues and compete with punters from all over the world through our sports prediction software.

Pools that are custom/private

Create custom/private pools for your users and allow them to invite their family, friends and colleagues. Boosting engagement and acquiring new users are both possible with this feature.

Creating custom rules

Game admins can create custom rules for private/custom pools, allowing them to craft the games/tournaments of their choosing.

Coverage of diverse leagues

You can cater to the needs of punters with diverse interests with our sports prediction software that covers 25+ leagues and sports.

Questions for Bonuses

Make yourCreate a Sports Prediction Platform more exciting and thrilling by adding bonus questions. Provide your users with the option of choosing from our suggestions or creating a bonus question according to their preferences.

Results are live

Engagement, excitement, and thrill are fueled by live results. Maintain audience engagement on the create a Sports Prediction Platformby rendering live results.

Leaderboards

A leaderboard is a great way to promote a healthy competition on a platform. With our dynamic leaderboards, you can display ranks and boost participation.

Recognizing game winners

Getting recognized and celebrating wins encourages players to participate more. Boost competition by highlighting the winning player of every game with our game-winner recognition feature.

The statistics

You can use statistics to tweak your competitions effectively and get all the information you need regarding matches and player performance.

Insights of the highest quality

Make better comparisons and decisions with best-in-class insights that help you craft better questions and challenges.

Predictions from the mirror

Providing mirror prediction tools will save your users time and make it easier for them to access information. Players can use this tool to copy predictions from prior matches into upcoming matches automatically.

Tools for scheduling

With our scheduling tools, you’ll be able to manage your tournaments, leagues, and competitions more effectively.

Records in detail

Our records feature gives you all the insights you need to maintain, store, and access detailed records.

System of wallets

Our wallet systems make money adding to customers’ wallets easy.

Refer & Earn

We now offer a refer and earn feature to help you onboard more users for your sports prediction software.

Match Lists

Provide your customers with an easy way to browse all the matches of their favorite sports.

Player History

Maintain a record of the contests users have participated in in the past and help them keep track of their data.

Match Management Tools

Match management tools give administrators complete control over upcoming matches, events, and contests.

Transaction Management Tools

Your admins can easily monitor all large and small transactions with our sports prediction app’s transaction management tools.

Predictive Sports Software Offers the Following Features:

To feature your business that turbocharges Sports betting Prediction software will assist you with that. These features will allow you to turbocharge Sports Prediction.

User Control Panel

1. Profile of the users – Displays the user’s profile.

2. Match winnings – Displays the number of matches that have been won

3. Record of games played, wins, and losses – A record of contests played, won, and lost.

4. Earn points and invite members – Invite your friends to join and earn rewards.

5. Make a fantasy team – Can make your own team.

Accessed through the admin panel

1. Role-based Dashboard – Displays the matches by role

2. User Management – Administrators can edit user details

3. League Manager – Helps the administrator manage contests correctly

4. Manage rewards and bonuses – helps admins provide rewards and bonuses

5. CRM- An effective CRM can manage emails, notifications, and locations of users.

6. Revenue Management – Calculates profits

7. Managing earnings – view and manage the tournament’s earnings

8. Ordering matches – Matches can be ordered.

Read More: Cost of Sports Betting App Development With Top-Class Features

How to Build Sports Prediction Software?

Decide what business idea to pursue:

A business idea must first be determined. The goals and requirements must be clear when creating software that delivers them.

An expert can help you own virtual Sports Betting Software for Bookies. You wouldn’t be guaranteed success by doing that, however. You need to conduct detailed research, conduct an in-depth analysis, and follow an in-depth procedure to make it a profitable initiative and future-oriented business. Take a look at these details to help you on your journey:

BUSINESS PLAN

Business plans should consider the following factors:

  • Describes how the company generates revenue, generates cost, and generates Sports Prediction Software Development services. A clear vision is essential for designing business models.
  • It is important to plan for risk management whenever a project is large. You can get into big trouble with a single mistake or failure. Be prepared for any kind of risk by taking precautions and coming up with possible solutions.
  • Users should have access to a variety of payment methods for ease of use. In online sports betting, you can deposit and withdraw money using different payment methods.
  • Marketing plans are essential to the success of any product. Getting in touch with potential customers is made easier with branding. Changes in marketing planning may, however, occur for any reason.
  • Providing multiple language options will make the application easier to use. Using multiple options allows users from around the world to play the game.

MODELS OF DEVELOPMENT

An Two ways to develop an online sports betting system are to customize it or buy a ready-made one. 

  1. PERSONALIZED SOFTWARE

Developed from scratch, customized virtual betting software is customized to meet the needs of the client. Adding Sports Prediction business features to the software allows one to customize it completely. In the same way that Online Sports app developers work hard to provide you with what you need, BR Softech is a professional Sports Prediction App Development Company.

Developing custom sports Prediction mobile app solution:

  • Wireframing
    A wireframe shows how the software will appear after it has been launched. A description of your application and its features gives you a general idea about it.
  • Design
    A sports betting website requires web designing skills to maintain and produce. Customers should find the software user-friendly and attractive.
  • APIs
    Websites rely heavily on APIs. Coding is required to make a website or application responsive to multiple devices and operating systems. User interaction with a website occurs through Application Programming Interfaces, which are sets of protocols.
  • Quality Assurance
    The quality assurance process ensures that the design and the development of a website will be of the highest quality. Testing is done after QA to ensure all bugs have been eliminated.
  • Launch and Support
    A customized sports app is deployed after development. It is necessary to maintain and support all software regularly. Adapt to new technologies and requirements as they emerge.
  1. WHITE LABEL SOLUTION

Software that is ready-made for sports betting is known as white label fantasy sports software. A pre-built solution is ideal for those who have little or no experience in the industry. In addition to customizing this software, you can also hire developers like BR Softech.

Developing a white label sports betting solution:

  • Choose a theme
    The pre-build solution allows one to select a theme.
  • Add logo
    In the white label solution, you can add the name and logo of your sports betting app.
  • Another Customization
    is available in the pre-built Sports Prediction mobile app solution, such as adding a logo, color, theme, location, contact information, and multiple sports.
  • Quality Assurance
    Ensures the software is of high quality and removes all bugs to make it run smoothly.
  • Launch and Support
    Deploying the software is the last step after passing the quality assurance test. Providing the best Sports Prediction Software Development services also requires regular maintenance.

Technology Stack for Sports Prediction Software & App

Technology combinations you choose when developing an sports prediction app have a significant impact on its performance. Tech tools are chosen based on a variety of factors. The following tech stack is recommended.

Framework and programing languageJava, React Native, PHP, Flutter, C, Swift, or Kotlin
Database ManagementMongoDB, MySQL, PostgreSQL, Cassandra, HBase, MailChimp Integrations
Front EndJavaScript, CSS, HTML5, Bootstrap, jQuery, AngularJS
CloudGoogle Cloud, Azure
Payment IntegrationPayPal, Stripe, Braintree, PayUMoney, e-Wallets, Net Banking, e-Banking
Push NotificationsTwilio, Apple push notifications

What is the cost of developing an app for Sports Prediction?

 The betting app has already been discussed in detail. Here are the key points of this article. First, let’s discuss the cost of developing a sports prediction app. There are a number of factors that affect the price of a sports prediction app or other kinds of mobile apps, including

  • Designing mobile apps (UI/UX)
  • Mobile design is complex.
  • App features at a glance.
  • The app’s advanced features.
  • Experience as a mobile developer.
  • Platform (Android, iOS, or both) for mobile technology

The following is an estimated timeline as well as the estimated cost of developing an app for Sports Betting:

Here’s the timeline:

  • 9 working days for app design
  • Development of Android Apps: 25 Working Days
  • 25 working days for iOS app development
  • 30 Working Days for Web Backend & API
  • Deployment, testing, and bug fixing: 7 working days

The cost is:

  • Developing a Sports betting app costs approximately 5000-8000 dollars.

A popular IT service firm is App Ideas. We provide the best IT solutions for developing mobile apps, games, and websites. Our experience includes developing mobile apps with similar features to betting apps. As well as this, we offer affordable IT service development solutions.

Processes of developmentPlatforms for iOS ($)Platforms for Android ($)
Developing natively15-22k12-20k
UI/UX Design3-6k2-4k
Developing backends5-7k4-6k
Admin panel for web development4.5k4.6k
Assurance of quality and testing6-8k5-7k
Management of projects (10-15% of the budget)4k3.8k
Finalized costs40-60k30-55k

Sports Prediction Software: How to Choose the Right Provider?

Experience the stunning graphics and highly polished interface of our Android and iOS games with our team of experts. To help you serve with the best Sports Prediction mobile app solution, our sportsbook software providers use the latest technology.

  • We provide 24×7 technical support to solve your problems instantly.
  • A team of expert game programmers with years of experience at our Sports Prediction App Development Company Video games are brought to life by their hard work.
  • At the cutting edge of technology, we strive to provide smart service solutions. Time and effort can be saved with our cost-effective solutions.
  • A seamless communication process is aimed at providing users with more personalized service and enhancing their experience.

Customized and Flexible Solutions From time to time, we collaborate with our clients to help them achieve their goals. With the utmost flexibility, our flexible solutions meet all of your needs.

BR Softech Sports Prediction Application has the Following Features:

  •  Real-time results – Keeps audiences engaged with real-time results.
  • Leader Boards – Displays ranks and promotes competitions.
  • Recognizes the game’s winner – Displays the game’s winner
  •  Statistic – Provides high-quality data and assists in making smart decisions.
  • The tournament, league, and competition scheduling tools.
  •  Detailed records – Store all the records in one place without any hassle.
  • System for adding money to your wallet – This allows you to do so quickly.
  • A variety of leagues – Offers a variety of tournaments and matches.

Nitin Garg

I am Nitin Garg Founder of BR Softech PVT LTD - an Award-winning, app, web & 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.

About Us

BR Softech Pvt. Ltd. excels in providing cost-effective IT Solutions. Established in August 2012 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, and mobile game/software development intending to deliver outstanding digital outcomes.

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