The World Cup fever is over with the winning strike of the Australian cricket team, but the craze for fantasy sports apps is still there.
According to the reports, the fantasy app sector has seen a considerable surge in traffic during the World Cup matches, making it a lucrative investment opportunity.
Not only cricket, but other sports like hockey, basketball, and football have also occupied a major traction of sports enthusiasts throughout the various tournaments. From participating in mini-leagues to major tournaments, millions of users are the reason behind the soaring demand for fantasy sports applications.
The engaging and real-time experience is what lures users into these apps. Also, the opportunity to earn real money and other rewards is the cherry on the cake.
Now, the real talk- What is the estimated cost to build a fantasy sports app?
Being the best fantasy app development company in India, no one knows this better than us.
This blog entails everything you need to know about the cost of fantasy sports app development and the factors affecting it. Keep reading to get the exact details.
Before moving on to the cost of development, let’s get a brief understanding of the fantasy sports Industry and what it has to offer.
Fantasy sports app development is the process of building a digital platform for users to participate in virtual sports tournaments. Users can create a team with real-life athletes and make them compete against other users based on real-time performance, making them earn rewards if their predictions come true.
This thing has made fantasy sports apps a profitable business opportunity for entrepreneurs and developers. As per the reports of Mordor Intelligence, the global fantasy sports market is likely to reach a valuation of USD 54.98 billion by 2028. However, these figures are just estimations and they might go high as well.
Apart from the engaging experience, users also consider the advanced features. Here is a complete guide to fantasy sports app development in 2024, so you can get a better idea.
Developing a fantasy sports app is not everyone’s cup of tea as it requires a solid understanding of the technical features and complex elements.
Some of these elements might affect the cost of building, which is why it is important to go through them before starting the development phase.
Let’s discuss them below:
App features are one of the most influential factors affecting the cost of fantasy sports apps. The more features your app has, the more time and effort it will take to develop, resulting in high costs.
The app platform is another crucial factor affecting the cost of fantasy sports app development. It is important to decide on the platform before beginning the development phase. Both iOS and Android have their fair share of advantages and disadvantages. However, if one is willing to create an app that works on both platforms, hybrid or cross-platform development is the best option.
Choosing a tech stack for your app development project is an essential task that needs to be done correctly. Nowadays, integrating modern technologies like AR/VR, IoT, and AI, has become a necessity to make the app stand out. Besides, the total cost also depends on the type of programming language used to develop the fantasy sports app.
Any fantasy app development company can build an app, but not all of them can provide the desired maintenance services. App maintenance is as important as building an app. It requires timely bug fixing, technical support, server maintenance, new features addition, and others. All these mentioned factors keep the app updated and bug-free, providing a seamless user experience.
Wondering how this factor can affect the development cost of fantasy sports apps?
It’s because each fantasy sports app is built differently, depending on the type of sports and features requirement. For example, the development cost of a cricket fantasy app will differ from the football fantasy app, due to the difference in features and functionalities.
Additionally, if you want an app with multiple sports, it will be more costly, owing to the same reason mentioned before.
Last but not least, the location of your app developers and the company matters. Companies in the US, UK, and Canada charge twice as much as the Asian companies.
Therefore, the location of the company and the outsourced developers can be a crucial factor in determining the development cost.
Profit-making is a later part of the business, the first is to invest. Therefore, the cost of the development of a fantasy sports app is the most important part. We have already discussed the factors influencing the cost, including the app features, maintenance services, tech stack, and more.
You can work with a team of professionals and consider the mentioned factors to get the exact cost idea of building a fantasy sports app. But if you need an estimation, the price is around $4000.
Fantasy apps have become immensely popular among the sports community, offering them a platform to showcase their skills and rewarding them with real rewards.
But, have you ever thought about how these apps make money? These apps implement various monetization strategies to generate revenue, while also keeping the app engaging and user friendly.
Here are some of them:
Fantasy sports apps charge a certain amount from the users as a participation fee and later take out a small chunk of it which is huge for them.
Some applications charge a fixed amount as a subscription fee from the users to use their app on a monthly or yearly basis.
Advertisements are one of the most common ways to monetize your app. You can choose various ad options to earn money by making users click on them. These ads can be a banner, videos, posters, or anything.
Fantasy sports apps will continue to remain a popular destination for sports enthusiasts, owing to ongoing innovation and technological advancements. If this opportunity to play thrilling games and win real rewards excites you, this is your sign to invest in fantasy sports app development and get benefits from this lucrative industry.
You can partner with Protonshub Technologies, a reputed fantasy sports app development company and a leading name in the realm of custom software development. It doesn’t matter whether you need a sport-specific app or an app that has all-in-one, our team of experienced developers is up for both.
We utilize the latest technology and follow an agile approach to develop a fantasy app that stands out in the crowd. We believe in timely delivery without compromising the quality of fantasy sports apps.
Contact us today to find out the exact cost of building your custom fantasy sports app.