How to Start a Successful Fantasy Sports Business Like Dream11?
Are you planning to develop an app like Dream11? However, you must understand that it is not an easy task to start a fantasy app development project. You have to follow the following steps to make a successful ...
In recent years, the fantasy sports business has seen huge growth. Also, gained more prominence among the people across the globe. As we can see many people are using fantasy sports apps because of their lucrative benefits. Currently, there is an ever-increasing number of people using smartphones every day. Also, the market for the fantasy sports business continues to grow at an exceptional rate.
From recent surveys, we can predict that more than 2.2 billion people around the world use smartphones. Also, more than billions of people own a tablet. From this, we can see that there is a new market with a lot of potentials. If you are a startup or entrepreneur, then you must look into investing in the fantasy sports business to reap lucrative money.
The fantasy sports app sector is one of the popular sectors of the industry that has seen tremendous growth in the past few years. As of now, there is plenty of fantasy sports apps available in the play store and app store. But fantasy sports apps like dream11 have gained a lot of reputation and credibility within the market. Thus, many startups and business class people have the interest to start a fantasy sports business like dream11.
In this article, let us see what is Dream11 with its features and how to start a fantasy sports business like dream11.
Ok, without wasting the time, let us begin with...
What is Dream11?
Dream11 is one of the most prominent and trending fantasy sports apps in the marketplace. It has become one of the biggest and desirable apps in the fantasy sports genre. This app has more than 20 million active users across the world. Thus, the Dream11 clone app is one of the most popular products in the marketplace. This fantasy application is popular because it helps the users to win some quick money effectively.
This app allows users to choose a wide range of sports for playing leagues and contests. Thus, it is significantly more admired by many sports enthusiasts. From football to cricket and baseball to basketball, this app features games of all these sports tournaments. So based on the area of expertise, users can play efficiently.
Here, the user can select their desired team with real sports players. After selecting the team, they can participate in any contest or league by paying a small amount of money as a tournament fee. Users can change the players from their team only before the league starts. Once the league is started, they can not alter the players from the team. If their selected team played well in the stadium, then based on the performance of players, users can win cash prizes and points. Thus, if users have the best knowledge and skills. Then they can win a lucrative amount of money from each league they play.
Now, let us see…
How Potential is the Fantasy Sports App Business Today?
In recent years, the fantasy sports app business has become immensely popular among sports enthusiasts globally. Also, starting a fantasy sports business is one of the fastest-growing business ideas to reap more profits in a short time. From the upsurge growth of fantasy apps, the global fantasy sports market is anticipated to be worth $33.2 billion by 2024. As of now, the region-wise distribution varies. For instance, the Indian fantasy sports market is the most potential one with revenue growth nearly thrice every five years.
The number of users who are using smartphones for casual gaming is less compared to massive gamers. It shows the user behavior and pattern in the mobile games app market today. The below statistics shows the size of the market.
You might have a question in your mind: why a fantasy sports mobile app? Why not go for a simple fantasy sports website?. The simple answer is, users will love to use smartphones rather than using websites. Currently, smartphones have nearly more than 65% global reach. Also, statistics from India in 2019, almost 85% of users played fantasy sports apps on their smartphones. So the fantasy sports market is all set to start your fantasy sports app business.
Are you excited to know more about it? Then, read on, without a pause. Now, let us see…
How to Start a Fantasy Sports App Business Like Dream11?
Here we list some of the crucial factors to consider for starting a successful fantasy sports business.
Determine the Objectives of your fantasy sports business
Currently, there are many good and noteworthy reasons for you to start your own fantasy sports business. If you are a startup or an entrepreneur, then you must determine your business objectives. Also, you need to keep the revenue model in place. If you are trying to improve your branding, then make sure that you are having all the parameters for engaging your users in your business. For instance: for a sports media brand, your objectives will be completely related to growth and user engagement. In the same way, defining your clear objectives to start a fantasy sports business. Then you can choose the right company for the fantasy sports app development.
Do Market research
It is one of the key factors to succeed in your fantasy sports business. Research and analysis are the most essential elements to know trending sports in your country. Because there are many sports and have millions of fans for each sport. You need to analyze whether there is any competition in that field and which sports have immense popularity among people. Thus, these factors will help you to have a clear understanding of your business.
Have a correct plan
You can not start a business without a correct plan and a road map. So start planning your budget, audience, teams, and list of desirable features to be integrated. Finally, you need to have a deadline for completing your fantasy sports project.
List out the sports & league to include in your app
Once you have decided to launch a fantasy sports mobile app like dream11. Then you need to list out the popular league in your targeted sports. Also, you need to give support to the various sports. Like cricket, football, basketball, and more. Thus, you could opt for football, basketball, and other popular sports leagues. This determines the success of your fantasy sports business.
Define your peculiar proposition
Fantasy sports is one of the biggest industries. Also, it consists of various options in each sport. So, you need to define your unique proposition pretty well. Thus, you need to incorporate unique features and other plugins that beat your competitor. This is going to make your fantasy sports mobile app to the next phase. Also, it helps to stand as a unique app in the marketplace.
Decide the Right Engagement Platform
Decide whether you are providing a mobile app only or a fantasy sports website. Else, both the platforms to your users to get users engagement with your platform. But you can heavily focus on fantasy sports mobile apps. Because there are more than billions of smartphone users across the globe compared to desktop users. But the combination of both the stunning mobile app and website platform is going to be a great benefit for your business. Thus, connect with a professional fantasy sports app and website development company to start your fantasy sports app business.
Game Rules & Format
You must decide the game rules and format of your fantasy sports business. Because you are the boss of your business, right?. First, you need to make sure that you are keeping your users engaged with your fantasy sports app. With the Dream11 clone app, you can get more game formats that users can participate in. Thus, you need to have a game format in your app. Such as contests, leagues, free contests, and season special contests with the massive winning amount. For a fantasy sports business plan, you can apply any kind of sports. Such as Tennis, Football, American Football, Baseball, and much more. In the dream11 clone app, it includes Football, NBA, & Pro Kabaddi. So you can target many sports enthusiasts and fans.
Find Reliable Data Providers
It is one of the most crucial factors in starting a fantasy sports business. For this kind of platform, you need the requirement for various data. Thus, choosing a reliable and trustworthy data provider is more essential. Choose a provider who has expertise in handling fantasy sports apps. There are some of the popular fantasy sports data providers in the industry. Such as GoalServe, Stats Inc, FantasyData, and SportsRadar.
The launch should be planned carefully
Many people first launch a website platform for their business. Then they introduce their fantasy sports mobile app to the market. Thus, make sure that you are having a perfect pre-launch strategy. Also, you can have assistance from your chosen fantasy sports app development company.
It is a final step, you might fail when you don't have proper marketing strategies. Also, you will fail to make your presence in the market even if you are the best in the industry. Thus, be careful and implement both offline & online marketing strategies. such as search engines, mobile, social media, radio, electronic media, events, and more.
By considering these essential factors, you can kick start a successful fantasy sports business like dream11 without any hassle. However, features play a significant role in the mobile app. Thus, there are some essential features for the dream11 clone app.
So, Come on peeps! Now, let us see them.
Desirable Features of Dream11 clone App
Here we list the standard features that you need to integrate into the app to start a successful fantasy sports business like dream11. There are two different panels when it comes to dream11 features
- User Panel
- Admin Panel
Features of User Panel
- Home Screen
- Join Contest
- Payment Mode
- Create Your Contest
- My Contest
- User Dashboard
- My Settings (it consist of Invite & Earn and CMS Section)
Features of Admin Panel
- Admin Login
- User Manager
- Manage Matches
- Manage Games Category
- Contest Manager
- Manage Payment
- Manage Reward Points
- Manage Cash Bonus
- Manage Reports
- Manage Bank Withdraw Request
- Manage CMS pages
Additional Features of Dream11 clone app
To make your Fantasy sports app business more interesting, you need to integrate popular and additional features into the app. By integrating additional features, the app performance can be completely improved. Also, the operations can be speeded up and reduce admin efforts.
Some fantasy sports app development firms also offer complete customization in their dream11 clone app. So it allows the clients to customize any part as per their business requirements. here we list the additional features that you can integrate into your dream11 clone app.
- Live Match Score
- Live Score API Integration
- CRM Integration
- Push Notification
- Real-time Analytics
- GPS Location Tracking
- Custom Mail Reminder System
- Payment System
By enabling these desirable features, you can start a fantasy sports app business like dream11 successfully.
I hope you have gained the best insights from this article to start a successful fantasy sports business like dream11. If you are planning to start a business in the fantasy sports industry. Then choose the right fantasy sports app development company in the market. Because they will help you to kickstart your own fantasy sports business like dream11 in a hassle-free manner.