How to Become Next Fantasy Sport Business Sensation like Dream11?
For the people in India, cricket is not just a sport, but is a religion! This is one statement that you would have heard a million of times. In fact, this prominent game has emerged to be a billion dollar industry across the world, with it supporting a large ecosystem. Today, it is a big business with the coming together of big brands, celebrities, gambling, league tournaments (like IPL, ICL, etc.) billions of fans and much more.
Raising prominence of the game and the evolution of digital technology via smart-phones and fast internet (broadband, 3G & 4G) have made it easy for the users to access it from anywhere and any-time. Guess, this is what inspired innovators to come up with this brilliant idea of Fantasy Sports Platform and take the user experience to an all new level.
Owing to this digital evolution, major players of Fantasy Sports industry experienced a massive partnership, viewer-ship & increasing advertising expenditure. And guess what??? This trend will only be growing exponentially in the coming years.
Dream 11: The flag-bearer of Indian fantasy sport industry
So who is the brilliant mind behind this innovation, the one with whom all of it began? Well, there was this crazy fantasy sports enthusiast Harsh Jain, who came up with Dream 11, the idea that he was shaping since 2011. Today, this leader of fantasy sports segment enjoys 1.8 crore of registered users. Unbelievable, right? Well, yes, but it’s true!
Such was the prominence of fantasy cricket platform that right now there are around 900% grown in this segment with there being around 20 million users, which in 2016, were just 2 million. In fact around 89% of these users play fantasy sports at least once in a month.
A lot more in store for fantasy cricket app lovers in 2019–20
The term of 2019–20 is going to be extremely exciting for the cricket lovers with a number of cricketing events lined up, like Cricket World Cup, Indian Premier League 2019 & 2020, and a lot more. In fact, with the coming two years being filled with cricketing events, we can surely expect a rage of sorts in the arrival of new fantasy cricket league apps.
Why India is the most prominent market for fantasy Cricket App?
Fantasy Sports is complete legal and is a game of mere skills. It is very much the future of online gaming in the country and has already established its roots. We are only expecting it to grow with time as more and more countries are anticipated to adapt this concept.
In fact, the craze of it was quite clear in the Indian Premier League 2018, which officially came up with their own Fantasy cricket mobile and revealed the statistics of the fantasy cricket app users during their live matches. There registered 8–9 million users on their app during the event itself.
This way, it is clear that there will a rapid growth in the Fantasy Cricket platforms with coming years bringing lot many big cricket events and tournaments. After all, the businesses are taking it as a great opportunity to grow.
Read More : Amazing Facts about Fantasy Sports industry
It is Legal unlike Sports betting apps
This is yet another plus point. App makers as well as users doesn't have to hesitate as Fantasy Sports business is completely legal in the country.
As an entrepreneur as well as an investor, people like to spend their efforts and money on legal concepts, and not in raw and illegal ideas. This is obvious in case of fantasy sports apps or websites as well. But, there is a good news, as you don’t have to hesitate to make an entry into this business of fantasy sports, as the concept is authentic and legal in India.
Central Govt. has exempted Fantasy Sports from Gambling & as per Section 12 of Public Gambling Act, 1867, “Games of mere skill do not come under the application of Gambling Act”. Read Complete Law
India’s fantasy cricket market to grow as other apps are set to be introduced
Even though Dream 11 is the most successfully running Fantasy cricket mobile apps out there in the market, but there are plenty other players as well in the fantasy cricket league business, like:
· FanMojo
· Champs11
· Khel11
· PlayUp
· CricBattle
· Myteam11
Not just this, but in the coming times, many more fantasy cricket and sports app will be introduced in the market.
Understanding the Revenue Model of Fantasy Cricket Apps
So, in case of Dream11, it is a freemium fantasy cricket game, which means the cricket fans can register into the platform and join the contest for free or at any pre-set entry fee in order to become a part of the fantasy thrill.
Meanwhile, to run a Dream 11 kind of platform, it is not easy to earn money. Owing to the business model, there won’t be even single penny of net profit sans at least a million of users.
Looking at the fact that on each day, millions of the fantasy cricket teams play on Dream11 platform, it is really hard to predict the exact revenue that would be earned by Dream 11 each day. However, on the basis of given contest, winning amount, number of teams & entry for each of the contest, one can easily calculate the lump sum revenue.
Each day, the Dream11 platform launches 15–17 high-valued contests & 20–30 low-valued contest with total winning money ranging from 3 crore rupees (US$ 450,000) to as minimum as 5000rs. (US$75)
Other 100s of the private contest and head-to-head content are not there in this list.
Now putting all of the above-mentioned calculations together, Dream11 app earns the revenue of 4–6 crores (US$ 600,000–900,000) from each of the match. This may vary on the basis of fan-base and popularity of playing countries and teams.
Meanwhile, considering the popularity of sports among the masses, Dream11, apart from cricket, also allow other sport enthusiasts like NBA & football to create their dream team & experience the frenzy of fantasy sports along with the real sports.
Not just this, but the fantasy sports business model can also be applied to all of the sports existing in the world with their own game rules and variations.
Relevant — How to develop fantasy cricket app business
Things to consider before developing fantasy cricket app
Now that you are keen on launching your own fantasy app, so it is vital that you understand all the intricacies of creating a such an app. In order to develop your own fantasy cricket business app, these are the things that you must keep in mind, like:
· Defining your objectives is necessary
There are all the good reasons for you to begin your own fantasy sports business. Like, in case you are an entrepreneur who is keen on venturing into this arena, that you must define your business objectives and also keep the revenue model in place. If you are a sports league/brand looking to enhance your branding, then ensure that you are having all the elements of ‘fan engagement’ in your fantasy sports business. For a sports media brand, your objects will be related to growth & user engagement. Same way, iGaming player could be looking to promote their products. This way, by defining your clear objectives to start a fantasy cricket business, you will be able to pick the right partners for the app development.
· Do the Research
Research and analysis is crucial to know which sports are most trending in your nation, whether you have competition already in that arena as well as which is the sports that is increasing popularity. These three factors will give you clear understanding whether you are keen on pursuing this business opportunity or would rather let go of it.
· Proper Planning
Nothing can be attained without a proper plan. So start planning your sports niche, your budget, your audience, your teams, list of integral features and the deadlines.
List out the sports or league to include
Once that you have decided to launch your fantasy cricket mobile app, it is time that you list out the prominent league in your target demographics in the game of cricket. Same way, you could opt for football, basketball or soccer league. This determines the scope of the fantasy sports business.
· Defining unique proposition
Fantasy sports is a huge industry and it is also full of various options in each of the sports. So, the only way to make a mark is defining your USPs pretty well. Think of the one factor that sets of apart to offer to your users? What standing does your fantasy sports business have in front of the competitors? This is going to enable your fantasy sports mobile app development partner to include the unique features offered by you in the app. It is going to distinguish your app from the others in the race.
· Engagement Platform
Make the decision whether you are keen on offering a mobile interface only or a web interface only or both the interfaces to your users in order to get them engaged with your platform.
Tip: It is beneficial to focus heavily on mobile interface as there are more mobile users in the world as compared to the desktop users. However, a combination of well-designed mobile & web interface is going to be advantageous for your business. So, get in touch with an experienced mobile and web app development company to create your engagement platform.
· Game Rules & Format
It is absolutely on you to decide the game rules and format of your business, as you are the boss of your business, aren’t you?
So how to begin? Well, firstly, ensure that you are keeping your audience engaged with your fantasy sports game app with the excitement of real sports. With Dream11 you get wide-ranging game format which users can take participation in, comprising of the practice contest, free contest, season special contest with the winning amount reaching up to 500,000rs. (US$7500). And why just cricket, as fantasy sports league business model can also be applied to any sports of your liking, i.e. Tennis, Football, American Football, Baseball, NBA, and any game that you choose. Like in case of Dream11, it also includes Football, NBA, & Pro Kabaddi, in order to target large fan following these games enjoy.
· Find reliable data providers
This is the most crucial element of creating a fantasy sports app. With this platform, you must expect the requirement for wide-range of data that requires to be handled on daily note. Thus, choosing a reliable data provider from the industry is vital. Pick a data provider who has experience of working in the sports and your league beforehand. Next, consider the costs carefully regarding the support that will be offered by the provider. Few of the renowned data providers recommended are GoalServe, Stats Inc, FantasyData, & SportsRadar.
· Launch should be planned carefully
Most business first launch a website for their fantasy sports business, and then introduce a mobile app. This is why, their launch strategy requires to be in synchronized with a long-term plan. Thus, ensure that you are having a good pre-launch strategy where you make some buzz surrounding your fantasy sports app or website. For the same, you can even take assistance from your hired development partners or the in-house marketing team.
· Marketing
Without proper marketing, you will certainly fail to sell, as without marketing you will fail to make your presence felt, even when you are the best in the industry. Thus, pay attention to implementing both offline & online marketing strategies, such as search engine, mobile, social media, radio, electronic media, events, print media exhibitions marketing.
What are the Challenges in the Fantasy cricket app development?
Creating a Fantasy Cricket app can be quite challenging for the app developers and usually they have to deal with two challenges, they are:
Games Learning:
Even though techie bots work wonderfully in their own technical domain, they still face game learning nuances quite challenging. In order to understand Fantasy sports, one needs a lot of mental aptitude, while the development & testing domain appears to be very difficult. It is vital that the developers very well assimilate the gaming strategy, which to them seems like an ordeal. However, it is still necessary for the Fantasy sports app developers to have a deep understanding of game as the development of fantasy sports apps is a lot different from the online multiplayer game app development. Getting and understanding of the scenarios and strategies in the Fantasy Sports Gaming development is totally different as compared to actual sport. Hence, implementing the scenarios, head kills, hits, strategy is a lot of mental struggle and hard work while the development as well as testing.
Data Integration & Filtration:
The development of Fantasy sports app involves massive amount of data and this is why data integration & suitable filtering takes up a lot of time. Thus, effort is needed for consistent data integration & error-proof data filtration. There is immense data regarding the number of players, their physical attributes, their scores, etc., which needs keen filtration and standardized data unification.
These are the challenges mostly faced by the Fantasy Sports App Developers, however skilled and experience Fantasy Sports app developers are well-proficient at dealing with these obstacles.
What are the features of an efficient cricket fantasy app?
A feature section of a Fantasy Cricket app consistent of two panels:
1. User Panel
2. Admin Panel
Features of User Panel:
- Registration/Login
- Home Screen
- Contest
- Join Contest
- Payment Mode
- Create Your Own Contest
- My Contest
- My Profile (Dashboard)
- Settings (This section consist of following features, Invite & Earn, CMS Section
Features of Admin Panel:
- Admin Login
- Dashboard
- User Manager
- Manage Matches
- Manage Games Category
- Contest Manager
- Earnings
- Manage Payment
- Manage Reward Points
- Manage Cash Bonus
- Manage Reports
- Manage Bank Withdraw Request
- Manage CMS pages
Additional Features:
In order to make the Fantasy sport app solution more interesting, trendy additional features can be integrated into the app. With these additional features, the app performance can be enhanced and the operations can be speeden up while admin efforts can be cut down.
There are some app development firms that also offer complete customization to their clients which allow the clients to add/remove any section as per their requirements. With this, solution can be made more compatible to any enterprise, be it industry giants of startups. Meanwhile, here is the list of additional features:
- Live Match Score
- Live Score API Integration
- CRM Integration
- Push Notification
- Real-time Analytics
- GPS Location Tracking
- Custom Mail Reminder System
- Payment System
Innovative Your Fantasy App with these Technologies
Chatbot API Integration
Fantasy Sports app development firms who have expertise in the API & Chat development can well integrate custom Bot API for any sports be it cricket, football or any other. The technology is going to cover the responses to almost all of the possible topics & stats that are relevant to the teams, players, team vs. team, player vs team & latest updates (regarding injury or others).
Machine Learning based Algorithm
One can develop and implement machine learning based algorithm on a fantasy Sports App Platform to further enhance the app performance. Doing so, will help the admin in setting odds for app used on the basis of their behavioural pattern
Blockchain-based secure transactions
With the help of a Blockchain app development company, one can create a decentralized platform which would be helpful in monitoring the transactions for the fantasy sports business model. This empowers fantasy app users and the Admin in several aspects of payment processing.
A proficient app development partner can make difference
Choosing the right Fantasy sports app development partner is crucial for a fantasy sports business. Find a development partner whom you can rely upon and trust. A kind of development partner who can help you get the initial set of user engagement along with the pre-launch strategy is what of need to form best foundation for your business.
Top Fantasy Sports App Developers
Apart from that you need to ensure that the development team that you will be working with is just brilliant. Here is the set of professionals that will be required:
- Project Manager
- iOS App developers
- Android App developers
- UX/UI designers
- Web (Front-end & Back-end) developers
- Business Analysts
- QA Experts
Once the right team is formed, you are all set to start developing Fantasy Sports app for your business. I hope all the points mentioned above will help you out to conduct your research in right direction and you will be able to plan effective development planning and strategies.
