The concept of Fantasy Sports has never been new, it has stayed among us for many years. You must be thinking how?
Well!! The emergence of sports betting apps started with the first reported fantasy game of baseball began in Boston in 1960, and from there the journey began and never hit a stop. The fanbase in the sports industry is constantly evolving especially with sports mobile app development for news, betting, watching live matches, gameplays and more.
Currently, there are many sports fantasy apps like Fanduel, Draftkings, BetMGM, and more taking over the world of fantasy sports app development. Fanduel is one of the most popular realtime fantasy sports mobile apps among the masses attracting millions of players to the platform.It is a New York-based gaming company that provides daily fantasy sports, sportsbooks, online casino, and online horse race betting products and services. This online sports betting platform was acquired by Flutter Entertainment for $4.2 billion in Dec 2020 and currently has over 12 million registered users.
Looking at how mobile apps are driving the sports industry, If you have also decided to develop a gaming app or sports betting app, this is just the article for you. Launching a potential sports betting platform requires idea formation, designs, features, development, testing and maintenance. Not to mention the associated factors that come along with the development process such as fantasy sports app development cost.
To guide you through your app development journey, this article talks about the cost of development of apps like FanDuel, factors manipulating the development cost, and how these platforms generate revenue. Let’s start with the sneak peek in the sports betting app industry.
Market Overview of Sports Betting App Industry
- The global sports betting industry reached a market size of $231 billion in the first quarter of 2022.
- Within the sports betting app market, there are over 25,000 active businesses with nearly 245,000 employees running the fantasy sports industry.
- Many countries are a part of the legal sports betting market, including the US in 2019. The sports betting revenue in the US is estimated to grow to as much as $10 billion by the end of 2028.
- In March 2021, the total wager value recorded reached $4.6 billion where the sports mobile app wager alone accounted for $3.1 billion representing the online sports betting app market.
- As a whole, the global fantasy sports market size is forecasted to grow up to $6.11 billion at a CAGR of about 6.51% during the period 2021 to 2026. Here’s a graph depicting the exciting numbers of the global fantasy sports market.
Factors Affecting The Fantasy Sports App Development Cost
When it comes to developing a real time fantasy sports app, the cost is undoubtedly one of the first considerations. In order to determine the budget for your project, you must first determine the cost of development be it through freelancing or hiring a fantasy sports app development companies.
There are four significant aspects that influence the cost of producing a realtime fantasy sports mobile app.
- Platform
Which platform should I create my mobile app on?
This is the thought that comes to your mind when you think of launching an app. When it comes to mobile apps, though, you have two options. You can choose from both Android and iOS. The platform you choose will have a big impact on the price of your project.
Fanduel is on both Android and iOS platforms and it has been running its fantasy sports service on Amazon Web Services (AWS) for security and administration, and to make sure services run smoothly. The Amazon RDS for Aurora is used by the team for high performance.
Since Android is more compatible with a wider range of devices, developing an app for iOS is regarded to be far less expensive than developing one for Android. As a result, deciding on a platform before engaging an app development partner is critical. However, if you want to cover more territory in terms of customers, you should develop your app for both platforms.
- Tech Requirements
After you’ve decided on a platform, the next critical consideration is choosing the right tech stack. You must be able to answer questions such as:
- Which programming language you wish to use or,
- Which database will you use to store data?
- You must also decide if you want to develop your software natively or run on a cross-platform framework.
All of the above questions will help you figure out how much money you’ll need to spend on your mobile app development. It’s a good idea to talk to your development partner first so you can make an informed decision.
- Fantasy Sports Mobile App Features
Your app’s features will ultimately determine whether it succeeds or fails. As a result, it goes without saying that the functionality your app has will influence the cost of your development project.
The fantasy sports app development cost will vary based on the features you choose to include in your tool. If you opt to add high-end features like multi platform support, expert analysis, live match streaming, multiple payment modes, leader boards, and so on, then the process will be more expensive.
Whatever you choose, there are some things that your real time fantasy sports app simply simply needs to be successful. We will discuss the world class features your sports betting app like Fanduel should include in our next section.
- Hiring a Sports Development Partner
At last, the cost to create an app like Fanduel or bring any sports app ideas to life will be determined by the sports app development company you choose. It’s critical to work with a development partner who has the experience, resources, and overall goodwill to assist you in developing an app at a reasonable cost.
For instance, check some of the most successful sports app designed and developed by Appinventiv.
How well-optimized your development process is, will influence a large portion of the money you spend. A respectable development partner will help you avoid mistakes, provide you sound advice, and use only the greatest minds and cutting-edge resources to bring your mobile app to life. The cost of your project will also be affected by the location of your developers.
Now that we have looked at the factors that directly affect the development cost of a sports app like Fanduel, we must also take into consideration the features that play a huge part in making your sports betting app successful.
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