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With more than 3.5 billion soccer fans spread worldwide, Soccer is the number one sports industry on this planet. The expansion of billions of fans, big associations, IT companies, sports industries, and well-reputed brand names have made Soccer a mass growthful business. Now, businesses want to not only offer services but also to crack every possibility of gaining a large user base to create a special brand identity when the competition has become too much.
For the world, Soccer is not just a game; this sport has become a more emotional and entertaining platform. From the beginning, Soccer has been an emotional game for its fans, not just a sport. And that’s exactly what businesses were focusing on from the start to create and expand their platform to generate more opportunities for higher revenue.
You must be thinking, what are you talking about? Okay, let me make it easier and more understandable.
Soccer sports provide enormous and profitable opportunities for fantasy sports business ambitions. Considering the football opportunities held in UCL or any other league, the immense achievement of Fantasy Football Stage DraftKing and Fantasy Dream11 organizations understood long ago that this industry is the best opportunity to pour resources into Fantasy Sports App. As a result, these fantasy sports app development companies have become the world’s largest user-base holder and high revenue generator platform.
Believe it or not, there are strong reasons why many businesses are getting into or entering fantasy sports and have already done so. And if you come here finding those reasons to clear your doubts about whether you should invest or not in fantasy football app development for your business. Let me tell you some good news; you are in the right place at the right time. We also found a good reason to make this topic more informative for you and help you decide whether you should go for it or not.
But, before that, let us first understand:
The first sign of any kind of fantasy sports game was started in 1962. This was when the concept of fantasy sports was emerging in the United States. However, we will only discuss the important milestones through the following bullet points:
During the pandemic, many people played online Soccer and earned money as they could not go out and play. People started creating online groups and playing online with their friends. In addition, many applications gained popularity during the pandemic. This was the best time for many developers to popularize their applications. People had a lot of time to use the phone and were eager to learn new things.
The pandemic and social distancing recommendations have changed how we view the world. The best example is that Hangouts turned into video calls and messages. They have changed a lot, and now we are used to it all. In addition, the level of technology rises with the creation of many app developments.
In this article, you will learn about fantasy soccer app development which is one of the growing development apps worldwide. So do you think the Covid-19 lockdown is responsible for the move towards online gaming? However, many mini-games were available on fantasy sports websites or app builders before Corvid.
The fantasy sports market is valued at USD 21.39 billion in 2021 and is expected to reach USD 44.07 billion in the forecast period of 2022-2027 with an estimated CAGR of 12.92%. The rising popularity of players, the rise of sports leagues, increasing investment in digital and internet infrastructure, and the launch of fantasy sports applications as other means of connecting with your favorite sports are some factors driving the market growth.
Barclays Premier League
The Barclays Premier League was founded on 20 February 1992; clubs formed the English Premier League from the Football League First Division. From 1993 to 2001, the BPL was known as the FA Carling Premiership. Barclaycard took over in 2001 and has since been known as the Barclays Premier League.
From the fantasy sports perspective, this league is among the most popular choice leagues worldwide. BPL plays a vital role in fantasy sports as people now play more fantasy soccer games to earn money. And you may know that Barclays Premier League is one of the world’s richest leagues and the biggest user-base platform.
UEFA Champions League
The world’s most addictive and prestigious soccer (football) tournament league and most prestigious club competition in European Soccer, played by national league champions of their national association. The UEFA was introduced in 1955 as a coupe des Clubs Champions European’s (French for European Champion Clubs' Cup), and commonly referred to as the European Cup, it was initially a one match knockout tournament eligibility only to the champions of Europe's domestic leagues., its winner was considered as European Club Champion.
The popularity led the entire UEFA League into a fantasy world and allowed people to participate in the game without actually playing it. Around 32 teams are drawn into 8 groups, each fighting to qualify for the knockout stage. And after the knockout stage, the remaining teams fought for the main UEFA title to become European Champion Club.
The reasons might entice you to invest in fantasy sports, but if done correctly, you can add a huge revenue bucket for your business. Apart from these reasons, there is no downfall in this as the future of fantasy sports apps, and the industry is bright, and it will never go down until and unless people themselves stop gambling.
The meaning of gambling is slightly different from actual gambling in Fantasy sports. Gambling is not allowed in the fantasy sports field; the rule is made by each country's representatives (Government). But with proper guidance, a betting software license, and a fantasy sports app license followed by their operators, they are completely eligible to provide such services to people.
And if we talk about the reasons, you will be pleased to hear that there are so many, and we will address some of the most important ones.
But before stepping out the foot into reasons, the biggest and clear reason is that fantasy sports are growing in popularity. Many companies have achieved tremendous growth, whether in revenue or gaining a huge user base. Now let’s begin with our main topic of concern.
The fantasy sports field is too large that your service will go empty, but not the audience. The fantasy sports industry has one of the larger audiences on its platforms. Unlike any other industry, fantasy sports are a never-ending game. Whether you are a new fantasy sports business or an old one, the growth chances are remarkably high.
As we discussed earlier, there are many fantasy sports businesses in the present world, but not all have achieved what they had planned. But suppose you want to become a fantasy sports business tycoon. In that case, you need to offer your customers a unique platform, innovative uniqueness, focused on users, not the business, and complete unique services that no one at this time has been offering.
Due to low competition, you will be able to attract a broad range of audiences currently searching for a reliable and unique featured platform and achieve the position you and your business deserve.
The fantasy sports market is filled with many platforms but not all make a huge difference and uniqueness to the users. Therefore, your platform should be completely feature-integrated and easy to use. People often get disconnected when they feel the platform they are using is not meaningful enough or not serving enough value to them. Fantasy sports are about how you are willing to integrate new innovative ideas, technologies, and features that give your customer a reason to choose your service over others.
This may not sound like a reason, but to be a successful fantasy sports business, you must test everything and see what will work proficiently for your users and business. This enables you to dive out all your ideas to create comprehensive solutions that satisfy you and your customers. And if you and your customer are happy with your platform, then there is no stopping you from becoming a fantasy sports industry giant.
Fantasy sports apps are known for providing real-time experiences to their users. As almost everyone has a smartphone nowadays, the demand for online fantasy sports has increased even more. As per the data, the online fantasy sports platform is expected to grow from USD 18.6 billion to USD 49.2 billion by 2025.
The subscriber base increased from 2 million in 2016 to 12 million in 2021. These statistics are enough to support the growing demand in the global market, so start investing today and become a major player in the sports industry.
Surely, earning substantial revenue and profits is the priority of any business in the world, and your fantasy sports software is no exception in this case! Your highly optimized and functional gaming platform can attract many active users from all over the world, which will help you generate revenue from various streams such as display ads, in-app purchases, affiliate links, and much more!
Fantasy sports apps are widely known for their efficient user engagement and great gaming experience. They also help in attracting new customers. Due to this, various popular sports leagues also see these platforms as a golden opportunity to increase their popularity. Hence, investing in these platforms will allow you to build relationships with these influential leagues. This will not only boost your brand image but will also increase your customer base.
The biggest challenge in the fantasy sports industry is getting government approval and license. But you as a business will not face this kind of issue now. However, to get the fantasy sports platform and software license, you’ll need to convince the government that your fantasy sports service is a game of skills.
For instance, in India, betting on cricket is a subject of gambling, and the government doesn't allow this kind of activity. But with fantasy cricket apps, betting on cricket is completely legal and secure. However, before launching your fantasy sports app, it is best to check or follow proper legal terms to eliminate any possibility of getting into trouble.
Countries like India, Australia, South Africa, England, Sri Lanka, New Zealand, and Pakistan are the major participants in the cricket leagues. If you plan to launch your fantasy sports now, it is a great idea and time. All these countries are participating in the cricket events scheduled for 2021-22. Therefore, it is easy to engage more fans as fantasy players in their own countries participate in bigger competitions.
There is plenty of time to improve your exciting fantasy sports application as there will be major tournaments like the cricket World cup, soccer world cup or UEFA champion’s leagues, and people will use your app heavily. Therefore, it is the correct time to evaluate your application and remove bugs or faults to eliminate any casualties.
There is plenty of scope for improvements to new fantasy sports businesses, as they are more likely to engage a wide range of audiences. The bottom line is whether you are an exciting one or new to this industry, your business will grow even faster with upcoming sports tournaments. The only thing to consider is ensuring that your developed fantasy sports platform is fully optimized and secure for heavy use.
Fantasy sports is a huge industry and easily expandable as well. Businesses can easily elaborate their expertise to their potential customer and attract them towards their platform. The best and very proficient term is that businesses don’t need to invest unnecessary resources to get higher ROI. In addition, they need a decent fantasy sports app solution to start their platform and gather a large number of audiences.
A simple but potential feature-rich solution will do the work and will allow you to compete against your top competitors in the market. The simple meaning of this topic is that you can create a basic functional app and run it in the market, and then, later on, you can expand it into a fully feature-rich and functional fantasy sports application.
It may be hard, but if you have the budget, you can also expand your fantasy sports app into shops. The fantasy sports spending report has found that sports lovers spend 60%-70% money on their favorite sports team or play equipment. Many top industrial sports companies have used this technique and gained tremendous growth. It may be just an idea, but if you can expand your budget, then this idea can turn your app into a million-dollar platform for your business.
We hope that by reading this topic, your doubts will be clear, and you can make a profitable decision for your business. As we mentioned above in the topic, fantasy sports is a billion-dollar industry. You will need to serve something unique and valuable to your users to stand out from the crowd.
Create a foolproof map of the fantasy sports market and put your effort into it, and soon you will get your reward. Your hard work and time will pay off if you successfully enter the fantasy sports industry with your expertise. Hire the best mobile app development company and elaborate your idea to turn it into reality. You can also contact us for your fantasy sports app development solution; we are a proficient and experienced mobile app development company. The choice is yours to make; we are always here to help you!
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DC Kumawat is the CEO of Orion InfoSolutions, a leading provider of IT solutions to businesses of all sizes. He has over 14+ years of experience in the IT industry. He is a passionate advocate for the use of technology to improve business performance.