Although the idea of fantasy sports has been there for more than half a century, it’s the recent boom of mobile app development that turned it into a gold mine of revenue and excitement. Handy mobile apps made it easy for sports fans all over the world to bet on their favorite teams in daily fantasy sport and use their passion and knowledge to earn solid cash prizes. So what is a daily fantasy app, and what are the business perspectives of fantasy sports apps development?
What is a fantasy sports app?
Fantasy sport is a virtual game where a gamer assembles his own online team by choosing real players from the upcoming match. Fantasy sports apps enable a gamer to take the role of a team’s manager and draft, cut, or trade players like in the real sport to improve his team’s performance.
In fantasy sports apps, you win or lose based on the number of points your team is awarded, which in turn depends on your players’ actual on-field performance.
Today, as more professional sports embrace the concept of fantasy games, a user is free to choose among a wide range of specialized fantasy sports apps, be it the best fantasy football app on iOS or a fantasy basketball app for Android.
What is a daily fantasy app?
Unlike a traditional fantasy sports application where the competition may last for the entire season, a daily fantasy sports app (or DFS app) is designed for shorter (day- or week-long) competitions. The team’s points get updated daily (hence the term) based on the player’s actual performance, letting a gamer bet and win/lose money very fast, usually in a matter of hours. The prize fund for every contest is usually formed with minimal starting commitments ($1) paid by participant gamers.
The range of daily fantasy sports is also very wide. DraftKings and FanDuel, the leaders of the fantasy sports industry, offer weekly and daily contests in 13 sports, including NBA, NFL, MLB, NHL, NASCAR, golf, tennis, and other sports.
Business prospects of fantasy sports software development
- Thanks to the convenience and accessibility of mobile apps, fantasy sports grew into a huge empire with 16,000 million USD revenue as of 2019 and with North America as the largest market.
- Today, over 19% of young Americans aged 18 and older compete in fantasy sports leagues with their friends and colleagues, spending thousands of dollars annually on fantasy sports frills.
- With over 35 million gamers, fantasy football remains the most loved fantasy sport in the US, in contrast to baseball, hockey, or basketball. The UK is another huge fantasy football market with over 8 million fans of the Fantasy Premier League.
- 85% of fantasy sports gamers prefer mobile apps to desktop (7%) and website/mobile (8%). It makes fantasy sports app development a lucrative niche for investors and applications software developers.
Crucial elements of fantasy sports app development
Fantasy sports apps can be a profitable business model for 2021. However, it requires a well-thought business plan and understanding of the important elements of fantasy sports software development:
Solid security
Since creating a mobile app for fantasy sports (be it for iOS or Android) involves building a registration page that asks for users’ sensitive information like real names, personal numbers, or email IDs, it must be a safe gaming environment where personal data is protected.
Multi-platform access
Fantasy sports applications software developers should create their apps with both types of mobile devices (Android and iOS) in mind to make their apps easily accessible for users of GooglePlay and AppStore alike.
Team drafting tips
To make team drafting a breeze for newbies who don’t possess substantial expertise in this sport, the app can be programmed to suggest players with the best playing history.
Real-time analytics
Such tools as live tracking and analysis empower users to make informed decisions and improve their team’s performance. The more valuable data the app provides, the more excited and engaged users will be.
Live video streaming
From watching matches live to providing match highlights in the form of short videos, any type of quality video content helps make a fantasy sports app more engaging. The video streaming feature is also a perfect opportunity to monetize the app through premium membership.
Creating a mobile app for fantasy sports requires solid market research, as well as a deep understanding of the gamer’s psychology and drives. The success will also greatly depend on how far the developers are ready to go in terms of user experience and innovations (think AI, blockchain, AR/VR, etc.) to stand out from the crowd.