Who doesn’t even agree that *businesses are built to make money and generate huge ROI*? Indeed if you are investing in any business; you will expect the returns out of it. Businesses have the wrong idea in mind about making a successful business by operating the Fantasy Sports App.
But with the legalization of the Fantasy Sports Industry and the acceptance of the industry among sports fans, have opened multiple doors to make money from the industry. Now, businesses are not afraid to try new monetization models to make money. The industry is not only focusing on the basic model of earning money by hosting fantasy sports events and entry fees. With the expansion of the fantasy sports industry and investors; there will be more monetization models available in the market.
The following write-up might assist you in discovering the different Fantasy Sports App Monetization models:
Monetization Model for Fantasy Sports Operators
01. Participation Fees and Rewards
The foremost and primary monetization model of the fantasy sports app is participation fees. The app operators can make huge money by hosting multiple sports events and charging a minimum fee for playing from the users. By deducting a few percent of commission from the entry fee and participation, the operators make huge money.
This charged fee is mostly given back to the user in terms of rewards. As per experts, it’s better to host multiple fantasy sports; the higher the number of events; the more revenue will be generated.
02. Indirect Revenue
If you are not interested in entering the fantasy sports industry, there are numerous indirect revenue generation options available for you. Research claims that a football fan spends across $500 annually on the prize, entry fee, merchandise, and more things related to their favorite game.
Sports-based merchandise and equipment business has the most lucrative opportunities. Sports fans tend to invest hugely in sports equipment, in their favorite player’s t-shirt, in buying stuff related to their favorite teams, etc. By opening an e-commerce store of such merchandise, it is easy to establish a business and make money.
03. Advertisement and Marketing
Advertising on the most downloaded and popular apps is one of the marketing tactics to bring the attention of a targeted audience to your brand and services. It is not only beneficial for the brand that is going for branding but a golden opportunity for the fantasy sports operators to make money through these advertisements. Paid ad marketing is quite popular in the market to get a massive user base in a small span.
By charging a branding fee to showcase their brand’s services on your platform; fantasy sports operators can generate revenue in multiple ways. For such platforms hire developers like RG Infotech.
04. Multiple Platform Support
Some fantasy sports operators like to host their services on only one type of platform while some like to go for hybrid applications to ensure they can cover both Android and iOS devices.
Getting a web page for the services is indeed a great option. Covering multiple platforms and android devices, it brings you a huge user base. A huge user base equals massive revenue generation. Indeed, it is a bit of an expensive affair; but this one-time investment can establish a business for you.
05. Free Leagues
Who doesn’t like free stuff? Well, everyone likes it and that gives huge benefits to the fantasy sports operators. Few of them only host free leagues to get maximum users registered on their platform. Once registration from the users is done; they can carry on with offering lucrative and diverse opportunities.
And no sports fans would like to pass out great deals to play their favorite sports. Aside from the biggest roadblock of an attractive massive user base. Get ready for the huge revenue generation.
06. Sponsors Fees
As the fantasy sports application is a growing industry, numerous brands and sponsors are offering cold cash to the platform for promotion. Brands are looking for big businesses for promotion to boost the reach of their platform among targeted demographics. Stay connected with sports-related brands and services; as you will be their first choice for brand promotion.
07. Affiliate Marketing
Recently many fantasy sports have introduced affiliate marketing for the interested platform users. By offering them a few percent of the commission, you can reach out to a massive audience. Integrate this monetization model of fantasy sports into your platform to generate revenue in multiple ways.
No, we are not kidding. Fantasy Sports Applications are not limited. Businesses often think that hosting sports events is the only way to make money from Fantasy Sports App solutions. But they don’t know about the different Monetization models yet. Hope this write-up will resolve all your doubts related to the Fantasy Sports industry and ways to make money in it.