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According to recent market research, an estimated $2,174.8 million in annual revenue is expected to reach the global e-Sports market by 2023, rising at an annual growth rate of 18.61%.
In an unobserved trend, e-Sports events worldwide have multiplied in recent years as video games and e-Sports have gained popularity. There are portals such as YouTube that offer live streaming of gaming tournaments, while Twitch.tv has also gained popularity. Since e-Sports are becoming increasingly popular and live-streamed, e-Sports fantasy leagues will also become more popular. Here, users can create their own fantasy sports leagues based on live matches, so they can create their own fantasy sports teams. Thus, fantasy sports app development has been boosted by the increasing popularity of e-Sports.
It’s a fact that not everyone knows exactly what fantasy sports games are. The participants of Fantasy Sports create their virtual teams using real players from different teams during a match or a league, to create a virtual/imaginary team. Their performance as a fantasy team determines whether they win or lose.
Statistical analysis of the fantasy sports industry
Furthermore, following the report “Global Fantasy Sports Market 2018-2022” by ResearchAndMarkets.com, the market is certain to be driven in part by an increase in Smartphone usage and high levels of internet penetration in APAC.
Based on this report, it is estimated that global market revenue in 2023 will reach $2,174.8 million, by growing at a CAGR of 18.61% for the forecast period. The number of players who participate in fantasy sports surged exponentially when the amount of internet penetration was combined with the use of more affordable Smartphone. Due to the growth in sports gaming, fans can participate in a greater variety of fantasy sports, such as Fantasy basketball, Fantasy football, Fantasy cricket, Fantasy baseball, etc.
Below are some additional facts related to Fantasy Sports worldwide?
Fantasy Sports app development
Fantasy Sports Leagues need to be understood from a historical perspective. Fantasy Sports were introduced in the US in 1952. In the following decade, it grew to have 200+ operators with 59.3 million subscribers (21% of the US population is on cellular services). Fantasy sports are played by around 65% of the sports fanatics in the USA.
Fantasy Sports Market in India
Fantasy Sports app
Fantasy Sports are a growing trend in India and will continue to grow in the future. The sports and gaming industries are very much capable of breaking all the records in terms of engaging sports fans and testing their skills by providing them with educational games and quizzes. The specialist of sports in India should be prepared for the day when all of the sports leagues in India will run their official fantasy leagues, such as the Indian Premier League (IPL) and the Indian Super League (ISL).
How to turn your app into a profitable business module
Have a look at this first report on India’s Fantasy Sports Industry to understand what the fantasy leagues are all about.
Promote your brand through fantasy sports
Further, fantasy sports are becoming increasingly popular for use to promote brands as well. The use of fantasy leagues for marketing has been embraced by several big companies. They are using Fantasy sports for promotion among high-income customers aged 25 to 50, with the main goal of attracting them. Market growth will be promoted by the surge of advertisers over the coming years.
Do you know what Dream 11 is and how it works?
If you were asked to think of an example of fantasy sports, tell us what you would call it. You’re thinking Dream11, aren’t you? Whenever mention of fantasy sports is mentioned in this world of sports enthusiasts, it makes them even more passionate. It is just their nature to enjoy participating in their favorite sports, no matter how virtual it may be. Fantasy sports have seen numerous big names emerge from Dream11 and have become a milestone in this regard.
Meanwhile, Dream11 offers users the convenience of a mobile app and website by offering an Android and iOS Fantasy Sports League platform. With 20 million+ users, it has experienced rapid growth.
Founded by fantasy sports enthusiast Harsh Jain along with co-founder Rahul Pandey in 2011, the platform was launched by Mahendra Singh Dhoni, an Indian cricket legend, during the Indian Premier League 2018 season. With a rapidly growing user base of more than 45 million, Dream11 is the most successful and prominent platform today.
Dream11 offers a variety of contests for its users. What are these contests?
Therefore, one can take part in three types of contests
Head to Head
The contest is organized by two players who invest Rs.100-100 each. Dream11 receives a portion of the winnings from players who win a prize.
There are usually between three and five players involved in this contest. A certain share of the prize money is given to Dream11 when a player wins the prize money.
Dream11 is the app that creates the contest, in which hundreds, to millions, of players take part, and many people win. As in the previous case, Dream11 gets a portion of each winner’s prize
Now, let’s talk about Dream11. Then how does the application work? Well, in fantasy sports, the business models are directed towards the reality of sports, the reality of players and players’ fans. By participating in fantasy sports, sports fans have the opportunity to actively participate in real sports events. A similar concept is used by Dream11 as well.
First of all, you can signup for free.
Signup bonuses can be earned by simply entering the referral coupon code that is received during the signup process by other users. A specific percentage of the referral fee goes to the referral who refers the app.
In all matches, the user can create a fantasy dream team of 11 players (hence the name Dream11) from the contestant teams, with specific rules about the number of players from each team & type (bowler, all-rounder, batsman).
The user creates a fantasy team and is then given a budget (say 100 credits), which can be used to include any player of the user’s choice. To stay within the user’s budget, the user has to select the best players on the team within a certain budget.
Once the user has chosen a captain & vice-captain for the team, the next step is for them to enter the contest and this is where Dream11 earns the majority of its revenue.
There is also a limit on the number of teams participating in each contest. Additionally, users get a specific deadline by which they have to prepare as well as edit their dream teams as well as participate in at least one contest to claim their role.
A contest’s number of participating teams and the number of winning teams will determine how much each team can win and how that amount will be divided among the winning teams.
On the Dream11 platform, a lock-in period is announced before the start of sports events. A team cannot be enrolled or changed during the lock-in period. A thrill begins as soon as the real game starts.
Is it a good time for a fantasy sports business to invest?
You can find countless opinions explaining why Fantasy Sports is a good investment at this point. In addition to its huge popularity, more and more people are enjoying the platform as smartphone use and internet penetration increase.
It is also a good opportunity to market your business with so many people participating in Fantasy sports.
It is also a great time to enter the rapidly expanding fantasy sports market as the market is expected to be cut through competition in the future.
Additional Features of Sports Fantasy App
Live Match Score: The user can read expert analysis, watch game highlights, and view original content from the Fantasy App Live Match Score page.
GPS Location Tracking: The GPS location tracking feature can be used to notify the users about upcoming/ongoing leagues & matches near them.
Custom Mail Reminder System: To remind participants about upcoming matches and to share information about specific players/teams, we send customized emails to participants.
Multi-Payment System: This kind of application allows several payment options, including e-Wallets, Netbanking, and Debit/Credit Cards.
Loyalty Programs: These provide a variety of ways to keep users interested in an app, including referral points.
CRM integration: With this app, you can manage tickets, send emails, view user location, utilize push notifications, and in various ways a lot more.
CMS Integration: A system with which software users can manage all of the app’s content from.
Players Record: Each player’s record appears in this section, so the user can see each record and select the player accordingly.
Push Notifications: Users are notified through this feature when the time to create a team is, or when a match is about to start.
Real-Time Analytics: Apps that consume real-time data are particularly helpful in cases where the app must be captured in real-time. In addition to being stored continuously, the data is kept up to date in real-time.
Which Slack is best suited to your fantasy sports app?
GoalServe, Cricket API, RapidAPI.com, Sportsmonks, Entitysports, Cricinfo
Braintree, PayPal, Stripe, e-banking, PayUMoney
MongoDB, MySQL, HBase, Cassandra, PostGress, MailChimp integration
AWS, Azure, Google Cloud, Salesforce, Cloud Foundry
Hadoop, Spark, Bigdata, Apache Flink, CISCO, IBM
Twilio, Push.io, Amazon SNS, Urban Airship, MAP, ADPush
For the fantasy sports application platform, you may want to consider using the following technology stack:
How Should a Fantasy App Development Team Be Structured?
You will need to hire a team of expert specialists to create your Dream11 clone fantasy sports app.
To develop a basic fantasy sports app, you will need:
Q&A Analyst: At least 1 Engineer
You will need the following team members to produce a medium-to-advanced dream11 app:
Users of Dream11 fantasy cricket can submit entries for free or pay entry fees for contests. The game is freemium. The business model is such that at first, the platform won’t produce the first single coin of profit until a few million people use it. Dream11 also earns a lot of revenue each day due to its millions of active users. However, it is difficult to predict exactly how much Dream11 earns each day. However, the lump-sum revenue can be calculated by using the contest details, entry fee, and the number of teams during each contest.
A Dream11 contest usually consists of a few high-value contests, followed by a few low-value contests with a prize pool that ranges from INR 3 Crore (US$450000) to something as minimal as INR 5000 (US$75). Likewise, this list does not include the 100s of other head-to-head contests.
According to all of the calculations above, a Dream11 match should generate revenues between INR 4-6 crores (US$600,000-$900,000). As stated above, this may vary depending on the popularity of the players and their fan base. The business model and revenue model of Dream11 could also in theory be applied to other fantasy sports businesses that exist worldwide, each with its own version and rules.
The top fantasy sports mobile app development agency that has rich experience in creating fantasy sports mobile apps can help you become a successful entrepreneur by investing in the fantasy sports industry. Apps developed by these companies can be developed for iOS as well as Android platforms, with a price tag of $5000-$25000 for developing such an app for both platforms.
In India, Fantasy Sports are absolutely legal given that the Indian legal system clearly separates fantasy sports from games of chance, and describes them as a game of skill where sports enthusiasts pool resources to put together their own teams, the ones they think will perform better on the field than others.
As per the Central Government Act, “The Public Gambling Act, 1867, comprising of 18 Sections, in Section 12 it states, “Nothing in the provisions of this Act contained shall be held to apply to any game of mere skill wherever played.”
Hence, Fantasy sports can be regarded as a skill game and are not regulated by the Gambling Act of 1867, thereby making them safe to participate in.
Some of the biggest names in the world of sports have launched their own fantasy leagues, including ESPN and Sony Sports. Furthermore, the NBA and NFL have added fantasy sports platforms to their platforms as well.
With such large traffic, fantasy sports leagues are rising quickly on the popularity ladder due to a greater level of interaction and engagement with the audience. Find out more about our mobile development services by contacting us. For clients across a range of industries, we have executed several Mobile Application Development projects.
It is possible to tread unexplored paths by creating fantasy sports apps like Dream11. Although there are several well-established players, new apps are still very welcome. As far as the future is concerned, it is a game that will only grow in demand in the upcoming years.
We can’t wait any longer, so let’s get started. Imagine how fun it would be if you could create an app like Dream11 that could attract sports fans.