You would see a lot of advertisements for daily fantasy apps these days. It may seem to be a new trend in the market to you. But, is it? No, it is not.
Fantasy sports have been a popular trend among sports enthusiasts for many decades. The evolution of the internet simplified the process by introducing digital elements to fantasy gaming.
In recent years, we witnessed a surge in the usage of mobile applications. Among the most popular examples of enterprise mobility, daily fantasy sports app development is one of them.
As per Industry Research, the market revenue of fantasy gaming is all set to reach 32,078 million USD in 2025, which was 15,680 million USD in 2019, at the CAGR of 12.67%.
There is a large pool of opportunities for business leaders thinking to invest in the DFS app market. But, there might be several questions you might want to know as a decision-maker.
In this guide, we are going to cover all you need to know about fantasy sports app development.
The outline of the blog will include;
- Background of Fantasy Sports
- How Does a Fantasy Sports App Make Money?
- Six Most Popular Fantasy App Examples
- Features You Must Add to Your DFS App
- Technology Stack for Building a Fantasy Sports App
- How Much Does It Cost to Develop a Fantasy Sports App?
- The Burning Question: Are Fantasy Sports Apps Legal?
- Future of Fantasy Sports Apps
- How Can We Help You?
Background of Fantasy Sports
The fundamental concept of fantasy sports allowed participants to create teams of players participating in a real game. They would earn points respective to each player’s score as per the game’s rules.
Fantasy sports started being practiced after the end of the second world war. Golf was one of the earlier games fantasy sports competitions were played on, followed by Football and Baseball.
The simplicity of rules made participants take part and earn profit from such games.
With the advent of digital applications, businesses digitized the concept of fantasy sports and transformed them into a big industry.
Today, we have fantasy sports applications that support multiple games.
Moreover, with a drastic increase in the popularity of franchise-based leagues such as the National Basketball Association (NBA), Australian Football League (Aussie rules) and National Rugby League (rugby league), and Indian Premier League (IPL), the fantasy sports market has expanded further with the inclusion of dedicated game lobbies for these tournaments.
How Does a Fantasy Sports App Make Money?
Creating, launching, and managing a fantasy sports app can be a costly process. The expanded market has increased competition. Even if you hire a top-most app development company, you would need to market it properly to get the right exposure for the product.
It means that you would need a product that provides you a high return on investment when released for the customers. So, can a fantasy sports app do it for you? The answer is, yes, it can.
But, how does a daily fantasy sports app earn its revenues?
Well, there are several ways to do it.
You can ask the app users to pay for setting up the game. You can take your commission for providing them the space for launching fantasy leagues. It is one of the most common ways to earn your revenues from a fantasy sports app.
Since the audience of fantasy sports apps is wide, they are considered an ideal choice for showing ads. You can integrate Google AdMob to show ads on your sports fantasy app.
Partnering With Third-Party Portals
You can partner with third-party service providers and affiliate their products or services through your applications. Using such an approach can make your app more personalized and can also create an additional source of revenue.