The term “fantasy sports” is not unfamiliar in this era. This term is used to refer to online games where people/users can create their own virtual sports teams and participate in tournaments, and leagues organized by the game that emulate the real-world environment and conditions of the game. It generally comprises the proxies of the real sportspersons of the professional sports.
The rapid growth and popularity of Fantasy Games in India is hugely credited to the popularity of cricket and massive fan-following of IPL since it was first introduced in 2008 and took the country by storm. Now, cricket has become more than just a sport in India, it is an emotion, a part of our culture, a religion, a binding power that brings together people from different ethnicities and nationalities. The most awaited and biggest event in fantasy sports is The Indian Premier League which not only justifies the hype of the sport but goes beyond that.
Table of Content
- How do fantasy sports apps work?
- Statistics of Fantasy Sports Market?
- What are the latest features to include in a fantasy sports app?
- What Market trends drive the future of fantasy sports?
- 01. Technological Advancement
- 02. Rise in Investments
- 03. Arrival of new Games
- Conclusion – The final words!
- Frequently Asked Questions (FAQ)
So, unsurprisingly cricket has become the first fantasy sports obsession, especially in India. The sports application development business has also grown through leaps and bounds after the arrival of fantasy sports games in 2008. Also, it went on to collect the coveted title sponsorship of IPL ‘20, heralding them to the big leagues,’ clearly Fantasy Gaming has become a huge profit-making game and is continuously growing.
As expected, the global fantasy sports market attained a total value of about USD 27.26 billion in 2023 and the industry is expected to grow more and to be worth about US$ 3.7 billion by 2024.
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How do fantasy sports apps work?
How do fantasy sports work? This is one of the most asked questions by the player, but the answer is quite simple. The fantasy sports app functions by connecting various sports enthusiasts to their favorite sportsperson. With the help of fantasy sports platforms, players are able to connect and play their favorite sport virtually by picking their team according to their preference.
They are also given the choice and they also get the opportunity to choose their favorite players. Moving on, these fantasy sports applications also allow users to choose the sport of their liking, be it hockey, football, cricket, kabaddi, or any other.
Statistics of Fantasy Sports Market?
According to experts, the growth of the fantasy sports market size is expected to reach US$90.06 billion by 2032 at a CAGR of 14.2% in the forecast period of 2024-2032. here’s we present the summary of the statistics:
- As we all know India and USA are the major GEOs of fantasy sports. However, it also makes sense to try and test other regions promoting fantasy sports that boast lower market competition and cheaper traffic costs.
- India keeps displaying their enthusiasm for their favorite fantasy sports and remains constantly engaged with it even though it’s virtual.
- Around 85% of 18 million fantasy sports players in India are interested and engaged in playing fantasy cricket which is scattered around 300 fantasy sports players.
- Because of the gaming schedule introduced by the NFL, American football has reached the top in the USA and is a lot easier to follow. There are 16 fantasy sports games in a season of the NFL every Sunday, while on the other hand, MLB has 162 matches every single night.
- Though fantasy sports is not just a niche interest anymore, the forecast states that this industry has become a trend with significant promotion opportunities as its budget keeps rising at rapid speed annually and now it has surpassed $22 billion.
- There’s an extensive choice of offers thanks to the various app types including season-long fantasy, daily fantasy sports, niche sports, and social fantasy apps.
What are the latest features to include in a fantasy sports app?
The popularity of fantasy sports keeps rising and there are high chances it will be more popular in 2024. Features play an important role in making fantasy sports apps so popular.
Here are some advanced and trending features in fantasy sports app
- Dashboard: It is an important feature for any fantasy sports app as it shows the administrator unique statistical figures from a series of completed matches or tournaments. Along with other important details, It also displays the records related to the general diversity of fantasy sports players and the total amount of profit earned with the help of clients within the app.
- Player Stats: It is another important feature that needs to be added to every fantasy sports software. It’s crucial to include a player’s profile which displays all the pertinent information about the payer in any fantasy sports application. It’s easier to find the perfect player for your fantasy team by taking a look at the player profile.
- Quiz: It is an interesting way to engage players in your fantasy sports application. Adding quizzes makes the sport much more enjoyable. Users can test their sports knowledge by answering these quizzes. Besides that, one of the benefits of fantasy sports quizzes is that they also earn rewards and cash prizes for answering correctly in a proper way.
- Achievements Badges: An achievement badge is a major component that is responsible for the increase in user retention on the fantasy sports app. Users are more likely to revisit the sites which have a badge linked to their profile. Moreover, with the ability to publish achievement badges on social media platforms, it may reach a level higher.
- Loyalty Programs: Reward programs and gamification play a crucial role in attracting users and keeping them engaged in the hypercompetitive market of fantasy sports. It might be a point-based system that offers rewards and bonuses to the users for playing some specific games or achievement badges that they can share on social media platforms and sites.
Other than the above mentioned features, check out others as well:
ADMIN FEATURES
- Login
- Manage tournaments
- Manage rewards
- User management
- Profit management
USER FEATURES
- Login/create tournaments
- users find friends Settings
- link bank account
- Dashboard
- Withdraw earnings
- Analytics Report
- My tournaments
- Analytics Report
ADD-ON FEATURES
- In-app Chat
- Push notifications
- Referral bonus
- API integration
- Payment integration
- Commentary feed
- Create new group
- CRM integration
- Live streaming
- Score predictions
Looking skilled developer for your Fantasy Sport App? Or Exploring a ready-made solution?
Let’s discuss this with us over coffee.
What Market trends drive the future of fantasy sports?
Generally, fantasy sports players are sports enthusiasts who take advantage of virtual online games to stay informed and updated about their favorite sports and sports players. Hire fantasy sports app developers for tech-advanced fantasy sports app development. Here we present some major transformative factors that will shape the emerging fantasy sports industry.
Technological Advancement
In this fast paced digital world, people are in constant search of solutions and ways to get involved in their favorite activities. AR and VR games play a crucial role in transforming the sports culture and ecosystem of India. These revolutionary technologies will bring a “near reality” experience in the game and the way players interact with the team and action on the field, triggering power-ups and making replacements. Moreover, it will help in gathering vast amounts of useful information and data regarding a player’s behavior that can be used to tailor services to players, which results in a profitable situation for all players taking part.
Rise in Investments
The Fantasy sports sector has been the center of innovation and investment since the past few years. Considering the exceptional performance, increase in popularity, and bright future of fantasy games, it will definitely boost overall investment in the sports sector and provide golden opportunities for global business and tech-giants to enter the fantasy sports market and transform the whole online gaming industry. Thus creating several job opportunities in India as well as becoming a global powerhouse. Since the interest of sports lovers is taking a positive curve day by day, it is clear that fantasy sports will soon rule the country. With the continuous development and advancement in technology, it will continue to grow exponentially through its various verticals, including fantasy sports.
Arrival of new Games
In 2021, the total number of gamers was around 390 million, and we can get this figure through the predicted rise of gamers to 500 million by 2025. And all its credit goes to Fantasy Sports App Development. Nowadays, the increasing popularity rate of major sports leagues like the National Football League {NFL} and the Indian Premier League (IPL) is the biggest reason for the increasing demand for fantasy sports in India. However, the concept of virtual gaming and esports is gaining more acceptance as a result of the increase in fantasy sports popularity.
Conclusion
The above-provided details and information talk about fantasy sports and their increasing popularity. We also discussed how it’s going to be big in 2024. The above information also Provides comprehensive insights into the recent trends in the sports industry along with market forecasts and growth drivers in the market. Stay tuned for more valuable updates.
Frequently Asked Questions (FAQ)
Let’s clear your doubts about the industry by checking the frequently asked questions. If you have to ask something, Comment down your queries!
