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.
After surviving the bad phase of the COVID-19 pandemic in 2020, it has left the entire world to get over the crisis in 2021. But there are still some industries or sectors such as online sports and gaming, medical, insurance, etc. that got an upsurge in their business growth due to the pandemic. Since then, a lot of gaming entrepreneurs and investors have invested a lot of money in different sports segments like fantasy sports to reach a global audience and generate a high level of revenue.
As per the market stats, the fantasy sports market was valued at USD 21.39 billion in 2021, which is expected to reach a volume of USD 44.07 billion in 2027. This registers a CAGR of 12.92% over a forecast period between 2022-2027. In a nutshell, it can be said that the advent of tech advancements, internet infrastructure and rising demands for fantasy sports have fueled the growth of the fantasy sports business in India.
Introduction to the Fantasy Sports Industry and its Market Growth
Fantasy sports are related to the sort of games consisting of virtual or imaginary sports teams with real-time players playing different sports. These virtual sports teams play against each other like real gameplay. These Fantasy sports now include multiple sports developments like Fantasy Tennis App Development, Fantasy Baseball App Development, Fantasy Cricket App Development, etc. Firstly it was played only by a group of people, but then, it got the attention of big names in this field like CNN, ESPN, etc.
>>>Read More: Need Fantasy Sports Platform with Advanced Features<<<
At first, you have to do team drafting which is choosing the team players and compiling real-time game statistics. Players can track their team via fantasy sports mobile app or software. Fantasy sports have a different playing concept; that’s why investors are attracted to this profitable industry.
Before investing your hard-earned money into the fantasy sports market, it would be better to have some insights into its market growth. As we have told you, baseball, Cricket, football, Tennis, etc. are popular sports. The Football market segment holds the maximum market share, but if we talk about Cricket, it is also expected to evolve with the highest CAGR of 17.9% from 2021-27.
Based on platforms, the entire mobile app market is divided into the mobile app and website. When it comes to market share, mobile app development is leading. As per the reports, this part will have the highest CAGR of 14.8% between 2020-27.
There are chances to introduce more fantasy sports apps like Dream11. Fantasy Kabaddi App Development and many others in the fantasy sports market are the fastest-developing ventures worldwide. Different studies forecast the market size to go to $48.6 billion by 2027. (Source)
Things You Need to Do to Start a Fantasy Sports Business in India
There is a complete list of important factors to know how to start a Fantasy sports business in India. Take help from it and be the next leader in the fantasy sports market by developing Fantasy App Clone Scripts. In light of this, here we have listed some of the factors that you must look for when launching a fantasy sports business in the market.
1. The Goal of Your Fantasy Sports Business
Be it business or anything; you must have a purpose or goal behind it. In a business, where you put all your money at once, you must have some solid goal to achieve through it. Apply fantasy sports business’s revenue model to engage your users in your game app by having all the aspects to refine your branding.
2. Market Analysis
If you want to have a successful fantasy sports business, do proper market research and analysis first. Whether it is Fantasy Football App Development or anything else, you must know its history and current and estimated future records. Also, analyze the market competition and find out which sport is the most popular.
3. Have a Detailed Plan
It is not possible to begin a venture without having a road map or a complete plan. So, start making a list of essential aspects including your business budget, audience, must-have features, teams, top sports and leagues, etc. to integrate into the app. Now, have a deadline to complete the development of the Fantasy Application.
4. Stand out with Unique Features and the right Fantasy Sports Platform
Make your unique identity by including unique features and plugins. Have the right app platform for your fantasy football sports business to get enough user engagement. The blend of both the amazing mobile app and website platform will provide huge benefits to your business if you have decided to launch a fantasy sports mobile app like Dream11.
5. Game Format and Rules
You can decide whatever game rules and formats you want to have for Fantasy Hockey App Development or any other sport, to bring more customers to your business. Also, select a trustworthy data provider to handle fantasy sports apps. You can choose between Stats Inc, GoalServe, SportsRadar, and FantasyData.
6. App Launching and Marketing
The fixed-format of fantasy sports business launch introduces the website and application to your audience. Decide on a proper pre-launch strategy or have guidance from your hired fantasy sports mobile game development company.
After the launch, apply suitable marketing strategies to mark your presence in the market. You have to do more hard work for less popular fantasy game developments such as fantasy rugby app development, fantasy NBA app development, etc. You have to do more hard work as these are less popular. Try anything among mobile, search engines, social media, electronic media, radio, etc.
Essential Aspects to Evaluate the Fantasy Sports App’s Cost
Take a look at the below to know the aspects that can vary the final price of the Fantasy sports app –
Desirable Custom Fantasy App Features
Here we are presenting the list of must-needed fantasy sports app features below-
- Sign up or log in
- Home screen
- Contest or join the contest
- Different payment mode
- Generate your contest
- User dashboard
- My contest
- User Settings
- Admin sign up/log in
- Dashboard and user manager
- Managing all the games category and matches
- Contest manager
- Payment management
- Handle cash bonus and reward points
- Reports management
- Bank withdrawal request handling
- Manage CMS page
- Live score API integration
- Live match score
- Push notifications
- CRM integration
- Custom mail reminder system
- GPS location tracking
- Real-time analytics
- Payment system
Technologies for Fantasy Application Development
Applied technologies are the reason how your app will perform. Here is our suggested tech stack-
Database management– MySQL, MongoDB, Cassandra, PostgreSQL, MailChimp Integrations, HBase
Framework & Programming languages– React Native, Java, Flutter, PHP, Kotlin, or Swift, C
Cloud– Azure, Google Cloud
Push Notifications– Apple push notifications, Twilio
Payment integration– Stripe, PayPal, e-wallets, PayUMoney, etc.
Hire sports App Developers that can provide all of the above and apart from these, the aspects that can differ in the app cost are- app platform, app design, app developer’s location, etc. According to these, the Fantasy Sports app development companies’ evaluated cost is from $20,000 to $50,000. This cost can vary up and down as per your needed features and other things.
How to Start a Fantasy Sports Business In India with Us!
Currently, Fantasy Sports software development is in the high call by users, and we understand your needs. At BR Softech, we have dedicated and qualified developers and designers who work hard to provide you with quality solutions. Various sports have a strong presence in the market, such as Fantasy cricket app development, fantasy basketball app development, fantasy football app development, etc.
We aim to provide various types of development services, including both web and mobile gaming platforms to our clients at less prices comparatively. To get success, it is necessary to hire knowledgeable and experienced fantasy sports app developers. Our developers have the capability to stand out from the competition in the entire market in all situations. Contact us to get to know more about these fantasy sports apps or website development services.
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Frequently Asked Questions
Q.1 How Long Does It Take To Develop A Fantasy Sports Platform?
It takes around two to three months to develop a fantasy sports platform from scratch. The duration may go up to five months depending on the type, specifications and complexities of the project.
Q.2 How Much Does It Cost To Launch A Fantasy Sports Business in India?
On average, it costs around 1,00,000 Rs. to 1,20,000 Rs. to launch a fantasy sports business in India. However, the cost we have defined is not fixed and may shoot up depending on the type and complexity of your project.
Q.3 Is It Beneficial To Launch A Fantasy Sports Business?
Yes, it seems lucrative and beneficial to launch your money on a fantasy sports business to reach a wider audience and generate a high level of revenue. If you want to launch a lucrative fantasy sports business in India, contact our leading experts at BR Softech.
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BR Softech Pvt. Ltd. is a prestigious IT company that specializes in providing cost-effective and tailored tech-enabled solutions for different industries and genres. Established in August 2012, we have over 10+ years of experience in mobile game development. Take your business to the next level with our feature-packed metaverse, casino, mobile game, sports betting and fantasy sports software development services.