Last few years witnessed record revenue from fantasy sports and with the popularity ever-increasing, the industry continues to thrive. The industry is projected to reach improbable figures. In fantasy sports, the user or consumer is both manager and spectator who creates a team that is best equipped on the day and simultaneously enjoying the game at the same time.
Most new users joining the fantasy sports platforms are from cricket-following fan base. Maybe this is how we want to consume cricket today, not just glued to the screen but involved in fantasy cricket apps at the same time.
Let’s now discuss what has pushed the fantasy sports industry and transformed it in recent years.
- Focus on user experience
It is beyond sports. Fantasy gaming platforms are more bothered about the user experience than ever. They leave no stone unturned to connect and engage with users. And, that’s how it works in marketing terms. Additionally, they keep coming up with various new sports and contests to make online fantasy gaming more fun.
- No longer one game format
A few years ago, there was a standard fantasy sports game wherein a user had to select the best combination from players of the two teams. Gone are those days as fantasy gaming is no longer one-dimensional. The users can now get their hands on an array of contests.These can be creating a team, picking top players, answering a few multiple questions, season-long contests, playing on different modes or playing for a particular outcome of various sports – cricket, hockey, football, baseball, handball, volleyball, kabaddi and basketball. The variety is great from the traditional one game format. Users are more than happy to test their sporting knowledge on various contests.
- Live performance tracking and data-driven approach
Sports is a numbers game, and the fantasy sports industry has realized it. To keep up with the interests of a user, they not just assist users make better decisions making relevant stats but also have introduced live tracking so that a user can keep a tab on performances. Assisting Dream11 Prediction has taken care of the user’s interest.
The growth trends are overwhelming. The global fantasy sports market size is expected to cross $1.5 billion by 2024, increasing at a CAGR of more than11% during 2018–2024.
India is seen as the fantasy sports market with biggest potential. The leading fantasy sports provider, Dream11 India reported revenue of 800 crore in 2019, a massive increase from 230 crore in 2018. According to the Indian Federation of Sports Gaming (IFSG) and AC Nielsen’s report, the user base in India will cross 100 million by 2020. No wonder, the industry is likely to witness exponential growth in the coming years with the foreign investment showing great interest.