The pandemic has fueled the popularity of online sports. Sports fans around the world use online fantasy sports platforms to be part of the real-time action.
The individual’s growing interest in fantasy sports is a strong sign that fantasy sports apps like Fanduel and DraftKings will be the next big thing. Several large companies are eager to invest in projects that can meet the growing demand for fantasy sports.
So if you are looking for an idea for a mobile app, develop it. emerging sports betting app may be the ideal choice.
Much like our previous articles on industry-changing mobile games, this article will discuss fantasy sports apps and the two most popular fantasy sports platforms. who seem to have conquered the sports world, Fanduel and DraftKings.
What are Fantasy Sports apps and why are they so popular?
Fantasy Sports Market Applications are like all game apps such as e-sport. Here, participants create virtual teams made up of real players. The teams that users form on the fantasy sports apps then compete against each other based on the statistical performance of the players in the actual games.
How a player performs on the actual pitch is converted into points, which are then added up to make final points. Users can also trade players to increase league stats.
Fantasy Sports Market Applications such as FanDuel and DraftKings have allowed users to participate in short-term fantasy sports on a much larger scale than ever before. Engaging in the game at any time of the day or night has made them more popular.
The framework eliminates the possibility of selecting a terrible team and being stuck with players for the entire season. For fans of the game, it’s an opportunity to relive the whole season every day. In one-day fantasy football leagues, FanDuel and DraftKings are the market leaders.
Developing a fantasy sports app requires caution as users compete for real money in leagues that start with $1 as an investment. There are no associated subscription fees, allowing both services to grow at a rapid pace.
It also increased the emergence of a fantasy sports software development company and fantasy sports application developers to meet the needs of the market and Develop fantasy sports mobile app.
Online fantasy sports platforms are popular among the masses due to several other factors such as:
- Fantasy sports apps allow participants to play in real time.
- The competition is based on the player’s actual performance on the pitch and is therefore always fair.
- Users have the chance to show their love and enthusiasm for the sport. Also, such fantasy game apps kept people pretty motivated and engaged amid the pandemic.
- By playing in a league, people meet like-minded people from all over the world and make lifelong friends.
- Playing a league is always an exciting experience for users; whether you lose the game or win one, the intense competition will keep you hooked.
- Well the best thing about fantasy game apps is that they are gratifying. You can earn money if your team performs well or wins the game.
What are the FanDuel and DraftKings platforms?
FanDuel was established in 2009 and is one of the most popular fantasy sports sites in the United States. FanDuel is based in New York and has over 1,000 employees. The app has over 6 million registered users to date, and the numbers keep growing. The company is owned by Flutter Entertainment and has received multiple rounds of funding from top investors.
FanDuel offers fantasy sports and betting in the segments below:
DraftKings is the largest fantasy sports service in the United States. The company was founded in 2012 in Boston and employed more than 850 people in eight countries. So far, the company has raised more than $895 million and still exceeds its profit records.
DraftKings focuses on sports segments such as:
- premier league
- UEFA Champions League football
- NASCAR car racing
- Mixed Martial Arts (MMA)
- Canadian Football League
FanDuel and DraftKings are revolutionizing the sports world!
Acquisitions are important to the fantasy sports industry, just as they are to any other industry. Paddy Power Betfair, currently known as Flutter Entertainment, purchased FanDuel in mid-2018. FanDuel is a subsidiary of the parent company in the United States.
FanDuel’s acquisitions heralded an exciting future for everyday fantasy sports.
Former FanDuel CEO Nigel Eccles claimed the company’s focus had shifted from just being a fantasy sports business to making the sport more entertaining through a technology-based approach.
FanDuel and DraftKings attempted to merge into one organization.
Yet the merger was called off when the Federal Trade Commission (FTC) asserted that the new company would create a monopoly with a total of 90% of the US DFS industry.
According to the Arizton report, the app-based fantasy sports market share is expected to grow at a CAGR of 14%, registering growth of more than 119% from 2020 to 2026.
The same report also indicates that the female segment is likely to witness a gradual growth of 255 million USD in North America due to women’s growing awareness of fantasy sports via social media.
According to Businesswire’s report, the Fantasy Sports and Gaming Association states that more than 59 million people are engaged in fantasy games in the United States and Canada. It also states that 20 million people are playing fantasy games across India and that figure is expected to reach 150 million by 2022.
You can clearly see the revolution in the sports industry through these statistics.
How do these apps generate revenue?
Fantasy sports software solutions apps can work on several different monetization models. An application can have a combination of two or more other models. Let’s explore the different fantasy sports app revenue models:
One of the main ways most fantasy sports apps earn income is by taking a small percentage of the purchase price. You can choose a pre-determined portion of the money deducted from each buy-in.
IIf your platform becomes well enough known, you will pitch it to brands and businesses for marketing. Leagues and sports-related businesses are always looking for places that offer a high level of interaction between sports fans.
User Engagement Models
DraftKings and FanDuel allow their consumers to participate in daily or weekly contests. This increases user engagement and revenue.
The end note
Fantasy sports app development is a massive and lucrative industry that generates millions of dollars in revenue every year for companies like FanDuel and DraftKings from fees, advertising and partnerships. Although digital fantasy sports are not considered gambling, Development of a fantastic game application then making it legal in US states is a difficult task.
With many people playing fantasy sports at an alarming rate, fantasy sports app development services could be a lucrative business option to pursue. However, with so many such apps in the market, finding the right mobile app development company is essential.
DIRECTOR & CO-FOUNDER