Involved in investing in the business of a basketball fantasy app? A brilliant idea. Why are we thinking so? Let us make it clear to you. Of over 1.5 billion supporters, after football, basketball is the world’s second most-watched sport. Although the bulk of this number is accounted for by supporters from America, it is in a formation stage and is too prevalent in other large markets. China is one specific market that has also been exhibiting a great deal of potential. The market area is perfect for growth with a populace of over billions of people. To have not been abandoned out, India and Africa are both regions that the NBA is looking to grow into.
Back on the topic, the Basketball fantasy app market depends on the popularity of the sport. The numbers are enough to state the potential in the future. Why invest in a fantasy basketball app? How does a basketball fantasy app help you to make millions of bucks? How to build a basketball fantasy app? And lastly, what is the cost of building a basketball fantasy app?
In this blog, we’ll answer them all one by one. First, let’s see the dynamics of both the fantasy sports market and the NBA.
NBA: A True Sport
A real American sport designed to sprout wings worldwide, and it has begun to take place. The NBA’s success gradually rose at first and then plummeted to over 7 billion dollars after its establishment in 1949 and after its preliminary financial problems. So unquestionably, the NBA is today in a powerful place. As per the reports, it’s predicted that the NBA will reach a mark of 68 billion dollars by the year 2029.
Fantasy sports market
There are over 60 million active users in Canada and America. In 1988 the number was at 500k, and in 2017 the numbers increased to 60 Million. And if we talk about valuation, as per a report by Ipsos Marketing for FSTA (Fantasy Sports Trade Association), fantasy sports are worth 7 billion dollars in the year 2017. CEO Todd Eilers states that the number will grow by 41% annually and reach 14 billion dollars by 2020.
You won’t believe, just by entry fees, fantasy sports apps are generating thousands of dollars.
Why Fantasy Basketball App is the best investment?
Fantasy basketball, a 150 billion dollar business with far more than 25 million active players, is undoubtedly one of the most exciting possibilities an investor, entrepreneur, or business person will begin in 2020. With the bulk of supporters being newer, the investment’s longevity is real. A surprising link exists between both the age of players. And the age of young players in the US, suggesting from 18-34, respectively.
The increased amount of fantasy sports apps results from this sector’s unprecedented ROI and productivity levels.
According to Legal Sports Reports the fantasy sports apps like DraftKings, fanduel, fantasy draft has a combined user base of 37 million and generated over 220 million dollars in the year 2018. All the mentioned apps have raised over 1.2 billion in the year 2017.
What is a Basketball Fantasy App?
The basketball fantasy tournament is a successful e-sport that is played annually by millions of users. The basketball fantasy tournament is a forum for creating your team, drafting your roster, playing alongside your mates, and watching the live footage. Here, on an online basketball fantasy app, you also become the coach and manager of the world’s best players who compete with one another. The app allows users to build private tournaments, enter public tournaments, display live scores, data analysis, custom rules, and setups & exchanges.
Basketball fantasy tournaments and methods
- Euro league – it’s no wonder that supporters go crazy and wild when Europe’s tournament champions cross paths with one another in a single tournament. The EuroLeague is the most significant distinction any basketball player wants to achieve in Europe. Come and be a part of this thrilling league.
- BSL (Basketball Superleague) – BSL is one of the most traditional leagues which is still played around. The Turkish rivalry has been frequently listed in the most followed league. Play efficiency is its synonym.
- Liga ACB – The Spanish ACB is rising gradually, creating some prominent stars who may have gone on to have successful positions in the NBA itself. For its elegance and team-oriented playing style, this league is renowned. Be a part of this league.
- BBL (Basketball Bundesliga league) – Expected as the next saucer stone in the European basketball circuits. This league offers electric performances in an eccentric atmosphere.
- ROTO (Rotisserie) – In this methodology, several facets of the game and at the same time, participants play against any team in their division.
- Head-TO-Head – Here, teams play against all other couples for a whole week, and their real-time results are collected for an entire week.
- Essential Play – Here, regularly, the participants play only contests and core fantasy points as per the defined rating rules.
- Other leagues – Lega basket series A, LNB Pro A, FIBA world cup, NBA.
Let’s go ahead and talk about features and functionalities.
Must-have features of Basketball Fantasy App
Features make the application more exciting and appealing. Below we’ve listed some features which will attract users to play basketball fantasy games in any case. For both admin and user, the features and app design will be different.
Features for User Panel
- User login/register – The first and foremost feature you need is the function to sign up. Users must sign up with their credentials like name, phone number, email id, or other social media accounts. Users can enter tournaments by joining in or creating an account, building custom tournaments, forming teams, and winning prizes.
- Dashboard – Just after the user logs in, the dashboard is the first screen of the app. Here users see the upcoming matches, previous matches data, live scores, and the tournaments they are part of. The dashboard also shows the user earnings so far with in-depth analytics.
- Player Card – The unique feature provides users with a broader level of player statistics, such as ratings and how many times an individual has been picked for the squads and plenty more. Having a detailed knowledge of players will help the user develop the best strategies to win the game. This also allows the user to assign roles to players based on their skills and capabilities.
- Lounge – Here, users can see all the competitions available to compete in. The free and paying competitions are all listed here. Seeing all the competitions at one location is quite useful. Through the lounge, users can also spectate their friend’s ongoing match and can send an invite to friends to compete against each other.
- Filters and Team Preview – A smart search bar with such a large variety of filters lets users pick the contest they are searching for. Team preview features help users preview the team and make minute changes if needed before entering the tournament.
- Build Custom Squad – Award your users to build a squad for a fantasy game with the chance to make their team packed with experienced international stars also by following application guidelines.
- Attributes – In this feature tab, the user can discover various other options in-app. Here, users can add and withdraw cash, refer and earn, go through security approaches, app’s terms and conditions, and many more.
- Create tournaments – With crucial points such as the tournament name, several clubs allowed, game type, prize money, etc. Users can build their custom fantasy tournaments.
- Join tournaments – Not just build; users may enter the most popular tournaments that provide enormous money.
Features for Admin Panel
- Dashboards – A centralized dashboard to look from whoever goes on the fantasy app with key statistics. The dashboard will help the active user in real-time, total profits, several ongoing tournaments, and much more can be given. The administrator’s dashboard shows the Intel of total matches, upcoming tournaments, number of participants, and earnings.
- CMS – Content Management System, the most critical admin feature. This helps the admin to control the basketball fantasy app’s all content. It is possible to handle any measurable content from an intuitive CMS.
- User management – The Basketball fantasy app, this feature allows an admin to control users and carry out actions such as adding, removing, banning, or suspending users from the app. The admin can also down the player’s XP if any player tries to bypass application security or any other abnormality.
- Tournament management – A custom tournament can be built by admin for users to join. At the same, the feature also helps them to handle all ques-related items. This Feature powers the admin to full control to add, manage, edit, activate, or deactivate the tournaments and matches.
- Profit Management – Through this feature, admins can check the total absolute earnings and income generated form matches using some filters.
- Manage bank requests – This feature helps to monitor all transactions done in the application. Not just this, the admin can schedule, approve, and deny the payment between application and bank.
Additional advanced features
- Social Sharing – Users will post their fantasy tournament draft adventures with their mates and family on various social media sites such as Instagram, Facebook, or Twitter. Adding this feature in your basketball fantasy app will increase brand visibility and encourage other users to join the app.
- Geo-location – GPS position tracking and monitoring are vital since it enables the app to send substantial push alerts to users. This feature helps transmit messages alerts and push notifications to users to spotlight themselves about forthcoming and underway matches and tournaments at the location near them.
- CRM integration – CMS integration will assist service providers in performing various tasks like managing tickets, push notifications, location-based messages, and many more.
- Challenge others – Through this feature; your app user can challenge and compete with their friends and family even though this feature helps competent (invited by existing users) to make application profiles and play with them in the basketball court. Users can modify match rules and types like scoring points, betting amounts, and modes according to them through this feature.
- Leagues updates – By providing real-time information on the ongoing match, this feature in the fantasy app will allow users and admin to make faster, better, and quick decisions. In this, the data is stored and updated in real-time in the application.
- Multilingual assistance – Provide ease of interacting with the language often favored by the user and exploit the game’s global success. Applications included multilingual features that help users navigate the fantasy basketball app in the language they feel comfortable using or in their mother tongue.
- Daily leagues and matches – Organizing daily or regular matches in your application will boost app usage and user base. Now, users can participate in these matches rather than wait yearly.
- Chatbot– Sometimes, users can experience difficulties or have some queries about the app’s game. The chatbot feature helps to respond to those queries and concerns. Also, chatbots can be used for collecting the user’s knowledge.
- Player stats – Reflect the success of your users with specifics of the number of tournaments played, scoring defense, rankings, and won.
- E-wallet – Besides the various payment methods, this feature allows users to pay without even any annoyance with a pre-default e-wallet.
- Alerts – This feature regularly updates the users with the tournaments’ activities and gives promotions, news updates, and a lot more.
Technology and Team stack required to develop Fantasy Basketball App
To integrate the above features, your application requires a robust tech stack as well. Below we’ve listed the tech stack required to build a top-notch basketball fantasy app:-
- Sports API – SportsMonks, RapidAPI.com, EntitySports.
- Payment gateways – PayPal, Stripe, Braintree, Mangopay, E-wallet.
- Cloud – AWS, MS Azure, Google Cloud, cloud foundry.
- Analytics –Hadoop, BigData, Spark, Apache, Cisco, IBM.
- Push notifications – Twilio, Amazon SNS, MAP, AdpushUp, flink.
To build a fantasy application, a team of professionals is required, which helps make your idea into reality. To develop an app, so many individuals were involved.
- Business Analyst.
- Front/back-end developer.
- UI/UX designer.
- QA testers.
- Project manager.
- Android/IOS developer.
Monetization model of Fantasy Basketball App
As of now, we’ve discussed the emerging market of basketball fantasy apps. Now let’s move forward and talk about the ways that help you to make money from your basketball fantasy app.
- Tournament entry fees – This is the app’s big money-making machine. In the basketball fantasy app, most of the money comes from entrance fees. Users keep winning awards that inspire them to engage in pro-tournament events.
- Promotions – fantasy sports applications are becoming increasingly popular. In terms of brand marketing, it can be a perfect medium to draw a massive audience. For their promotions, companies and businesses are enthusiastically searching for such a large forum.
- In-app buyings – The income of fantasy apps has dramatically improved by adding the e-commerce segment into these applications. This integration will allow the app’s users to purchase their favorite merch and get all the enjoyment they desire.
Our Development Process
All the above factors influence the development cost of the basketball fantasy app. A top-notch, feature-rich basketball fantasy application built by an average development firm will cost you nearly 35k to 50k dollars. However, bear in mind that the total cost may also be influenced by the number of extra features, supports, integrations, functionalities, and severity.
We’ve tried our level best to provide you detailed information about the basketball fantasy sports app. If you are all geared up to indulge in basketball fantasy app development, you need to approach skilled professionals. They are adequately knowledgeable to provide you with the app that will hold faithful to your standards.
If you have any sort of questions or are looking for the fittest development firm. Please feel free to get in touch with us.
To know more, visit our website: www.matellio.com.
Till then, happy reading.