How Much Would It Cost To Develop A Fantasy Sports App Like Fanduel?
The concept of Fantasy Sports is not new, as it has been existing for many years. You must be thinking how?
Well!! According to Wikipedia’s information, the first reported fantasy game of baseball league began in Boston in 1960, and from there the journey begins.
Currently, there are many sports fantasy apps like Fanduel, Draftkings, BetMGM, and so on. Fanduel is popular among the masses attracting millions of players to the platform. This online sports betting Fanduel has more than 6 million membership subscriptions and a staff of over 1,000 people.
As we know FanDuel has gained quite a popularity and is a New York-based gaming company that provides daily fantasy sports, sportsbooks, online casino, and online horse race betting products and services. In this blog we will read regarding the cost of development of apps like FanDuel, factors manipulating the development cost, and how do these platforms generate revenue.
As per the reports by Technavio, the fantasy sports market size will grow up to USD 5.38 bn at a CAGR of about 6% during 2021-2025.
Factors Affecting The Cost Of Development
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 company.
There are four significant aspects that influence the cost of producing a realtime fantasy sports mobile app.
If you want to know how much does Fanduel cost then you should read the factors given below.
1. 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 have the option of using Android or 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.
Because 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.
2. Tech Requirements
After you’ve decided on a platform, the next critical consideration is the 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 cross-platform.
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.
3. The 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 price of the course will vary based on the features you choose to include in your tool. If you opt to add high-end features like multiplatform 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 cannot do without, no matter how much it costs. Here is the guide to developing a fantasy app that provides a detailed description on the features, factors, and what to do.
4. Hiring a Developing Partner
Finally, the cost of bringing your real time fantasy sports app ideas to life will be determined by the 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.
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.
Cost To Develop Fantasy Sports App Like Fanduel
It can be challenging to create a realtime fantasy sports mobile app. Every day, millions of people utilize popular fantasy sports sites and apps like FanDuel and Draftkings, which are changing the sports industry. You’ll need to invest in a high-quality backend and servers to ensure that your app can handle a large quantity of traffic. Furthermore, these platforms necessitate a slick and attractive user experience that is both exciting and simple to use.
The fantasy sports app trend is sweeping the globe, and now is the greatest moment to get into the game by making your own Fantasy app.
Although the thought of developing a Fantasy game app is exciting, the operation for this development can be difficult for businesses, and they must guarantee that the app they are creating can handle a large volume of traffic. Businesses must invest in high-quality backends and servers to do this. Aside from that, these platforms require a user interface that is both easy to use and engaging. As read above, the cost to create an app like fanduel depends on various factors.
If you want to construct a sports app with simple features and for a single platform, the projected cost to create a sport apps like Fanduel can start from $7000. However, if you want to make an app with extensive features and for more than one platform, then the prices can go upto $50000.
How Do Fantasy Apps Generate Revenue?
Different monetization techniques are used by fantasy sports apps for making money on Fanduel. If you are thinking about how to make money on fanduel then you should know that an app can use a combination of one or two of them, or it can use all of them at the same time. With that in mind, let’s look at how to make money on fanduel.
Also according to some reports, the global market size of Fantasy Sports is expected to reach USD 43,370 million by the end of 2026, with a CAGR of 13.2% during 2021-2026.
Fees for participation: One of the main ways most fantasy sports apps make money is by taking a tiny cut of the buy-in cost. You can set a percentage of the total cash you’ll deduct on each buy-in.
Advertisement: As your platform grows in popularity, making money on Fanduel mobile app is easy as you’ll be able to sell advertising space on it to brands and businesses. Sports-related brands and leagues are always on the search for platforms that have a high level of fan involvement.
User engagement models: Both fantasy sports app like FanDuel and Draftkings allow users to participate in daily or weekly contests. This results in higher user engagement and revenue.
Frequently Asked Questions
Q1. How much does fanduel cost?
Ans. The cost to create a sport apps like Fanduel can start from $7000. The cost for fanduel mobile sports betting app with extensive features that too for more than one platform, can go upto $50000.
Q2. How to create a fantasy sports algorithm?
Ans. As the daily fantasy sports game is growing, so is the competition and thus use of algorithms. You can create fantasy sport using algorithms like:
- Algorithm for developing, managing, and calculating game points based on live games data coming from data feed provider.
- Algorithm for building the ideal team for the daily contests.
- Algorithm for making a prize pool for contests based on several factors such as entry fees, contest complexity, number of participants, so on.
The Ending Note
Once you’ve sat down to draw out a plan for your mobile app, you’ll be faced with a slew of questions. One of the issues that will undoubtedly concern you is the cost of development. There isn’t a definitive answer to this question but we have provided you with the possible solutions and factors affecting it.
The fantasy sports app development company that you choose is critical for the success of your fantasy sports platform. Appinventiv is a digital transformation firm that has a track record of assisting brands in the establishment of successful platforms.
strategies your digital product..
