The craze of sports and its changing trends always excites the sports fanatics. After the introduction of Fantasy Sports in the gaming world, it has changed the meaning of sports and put a powerful impact on sports lovers. Nowadays, most of us have heard about this and play as well. But let’s be honest how many of us have an actual idea of what it is in reality and how it works. It started as a game played among friends for fun and entertainment. But currently, it has become a multi-billion dollar business that has a tremendous impact on actual live sports.
How fantasy sports works?
Fantasy Sports are the virtual games that are played online in which fans choose their virtual teams in an online selection process, based on the real players. The individuals play with their game skills and compete with each other to see which fantasy teams have performed the best.
In the fantasy teams, users select the real-time players as their virtual one so that they can easily find how their teams are performing by using different websites or mobile apps. Some of them join the leagues and play with their friends or colleagues, compete against each other and wins, while others play in public leagues that are hosted by the websites and compete with unknown people.
Who plays fantasy sports?
According to recent reports, there are about 59.3 million people across the globe that are playing fantasy sports in which about 12 million players are teenagers. About 20% of adult men are playing fantasy sports, and only 10% of women are playing it.
Statistics suggest that a total sum of $20 billion is spent on fantasy sports yearly. In comparison, $150 billion spent on real sports, and around $60 billion spent on lotteries.
Fantasy sports also influence people with an income of around $40,000 or more, and people with low income also participate in it. This field is having a significant impact on all sections of the society.
Which are the fastest-growing fantasy sports?
Cricket and Football are the two most admired sports that have their popularity worldwide and are growing speedily by presenting so-called daily games, where the players can choose a fantasy team for a single day, or in the case of football; it is for one week. Fantasy sports leagues are playing at the same time as the real sports leagues begin, but these leagues are prolonged to play.
How large is the fantasy sports business?
The fantasy sports industry has become a giant sports business that brings about $1.6 billion annual profit. Most of the revenue comes from advertisements on different sites.
There are two most prominent sites DraftKings and FanDuel that have pay-out more than 80% of their fees; they collect as prize money to attract the players in the game. The reports stated that the daily Fantasy Sports achieves $335 Million profit annually.
Major media and Internet Companies like Disney’s ESPN unit, Yahoo and CBS are also part of fantasy sports and have become significant players in this business.
Billions of young sports fanatics globally are now captivated on to fantasy sports, and the number is increasing speedily: 59 million is the last count up that rises three million from the previous year. And if we talk about the cricket fantasy sports trend in India, the number will cross 100 million by 2020.
Grasp the opportunity in Fantasy Sports Platform and make an ideal profit
Great technologies drive great fantasy sports experiences. From developing to actively working Fantasy Sports Platform, SVAP Infotech helps you to assist in your path of success and make your journey stand out from your competitors.
Our highly experienced app developers create remarkable app solutions at the leading edge of technology to keep your resources active, secure and effortlessly incorporated – connecting your business to its customers in pioneering new ways.
Our expertise in Fantasy sports App Development allows us to develop exciting fantasy sports apps as per the need of the clients. From User-Centric UI approaches to 24/7 maintenance and support systems, we entrenched the whole thing in our own Fantasy Cricket Platform.
It is one of the reasons- we counted as one of the consistent Fantasy Sports App Development Company and our strength lead us to raise a modern profit-focused sports platform for you.
Our highly expert team of researchers and developers are there to help you in categorizing the market trends and possibilities, difficulties and prospects in Fantasy Sports Website Development.
Contact us to get prompt support or to know how we can create your business presence through our out-of-the-box thought process and skills.