Pick Your DFS Operator Carefully
To build a strong platform that enjoys a smooth launch, attracts the user base it is trying to appease, and starts generating revenues as soon as possible, it is absolutely essential to choose your DFS operators wisely.
Who would have imagined that something as innocent as virtual fantasy sports gaming would become so popular. But here we are, living in the massive shadow that the constantly expanding world of fantasy sports has cast over us.
It should also come as no surprise that many opportunistic individuals and businesses want a piece of this lucrative pie given the amount of money this industry has been producing recently. However, it’s easier said than done to launch a daily fantasy sports website or app and manage it. Most business owners either underestimate the difficulty of scaling a DFS operation or are ill-equipped to handle it.
The operator you choose as your ally will have a big impact on how successful you are in the DFS industry. To build a strong platform that enjoys a smooth launch, attracts the user base it is trying to appease, and starts generating revenues as soon as possible, it is absolutely essential to choose your DFS operators wisely. A trustworthy operator will make sure the platform and all of its features are operating proficiently with few to no bottlenecks interfering with the user experience.
In this article, we want to emphasize the significance of selecting a reputable DFS operator as well as the steps you can take to make a more informed decision. You might want to pay attention to what we have to say if you want to dive into the daily fantasy sports industry headfirst.
A Fantastic Business Opportunity Is Fantasy Sports
It is indisputable that over the past few years, the fantasy sports industry has grown into a massive source of income. Only increased player numbers and increased popularity were the outcomes of the pandemic. By partaking in this type of mobile gaming, those looking for comfort during a crisis found a way to keep themselves interested and motivated. The OFPS market has grown significantly in recent years, bringing together celebrities, major brands, league competitions, media outlets, and billions of sports fans from around the globe.
Major investors have poured billions of dollars into the industry as a result of the upward surge in revenue it has been experiencing. The industry has seen massive audience growth and marketing spending. Considering only revenue, the sector was able to bring in $7.5 billion in 2019. According to current projections, this revenue will increase at a CAGR of 14% from 2020 to 2026.
Over 60 million users are currently active on the US DFS market alone. The following years are expected to see an increase in this number. The Fantasy Sports market is a veritable goldmine of business opportunities, as evidenced by the ongoing investment, player participation, and enormous growth in revenues. Numerous new players are drawn to these platforms by their passion for sports and the possibility of financial rewards. Unquestionably one of the industries with the fastest growth rates worldwide, it is very well-liked by businesspeople due to the huge profits that can be made quickly.
Increase in Fantasy Sports
Numbers do not lie, and you only need to look at them to understand how rapidly fantasy sports have expanded globally. Consider Dream 11, the top fantasy sports website in India. Since it was founded, the company has grown by more than 900%. There are currently 20 million active users on it.
The market for application-based fantasy sports has grown significantly along with the rise in smartphone adoption. According to current projections, this industry will grow by over 119% between 2020 and 2026, with a CAGR of 14%.
In 2020, North America will continue to dominate the fantasy sports market, bringing in more than 60% of the total revenue. Germany, the United Kingdom, France, and Spain were the major contributors to Europe’s 16% share. 10% of the shares came from the APAC region, with India, Pakistan, China, and South Korea making up the majority of the contributors. Up until 2026, all of these regions are anticipated to generate significantly more revenue.
These markets are expanding at such a phenomenal rate for three main reasons. Any or all of the following factors could be fueling growth in the aforementioned regions:
1. The business model for fantasy sports is unquestionably successful.
2. They have very effective marketing and advertising.
3. They have a variety of revenue sources.
There are simply too many possibilities for fantasy sports platforms to properly market themselves. No other user bases use social media’s reach as effectively as the ones fantasy sports corporations do. Users unintentionally pique the interest of people who haven’t used these applications yet when they post about their experiences using them on social media or when they share their rewards, achievements, or referral codes on Facebook and Twitter. Cash incentives play a significant role in luring in new consumers as well.
Due to its promise of a more individualized and magical experience for consumers, the projected integration of AI, AR, and VR in fantasy sports apps has also aroused interest. The reasons listed above succinctly describe why so many people are willing to spend time and money on fantasy sports apps.
Why Pick a DFS Operator Carefully?
As we previously mentioned, whether or not your daily fantasy sports endeavor is a success depends on the DFS operator you partner with. Given the sheer number of businesses operating in the market today, finding the ideal operator might be difficult. They all promise you the world, but only a select few have the knowledge, people, and resources needed to make your dreams a reality.
It’s vital to pick the best fantasy sports operator. Select an operator who offers 360 degree solutions to maximize the value you bring to your users and guarantee a flawless experience. We have created a checklist to make it simple for you to select your operator. It will be useful for a quick review.
It is not an option to choose an inadequate DFS operator. Even before you start your career as a DFS entrepreneur, you will be losing money on a subpar application that does not attract new users and destroys your reputation.
So let’s have a look at some of the factors you should take into account while looking for a DFS operator you can rely on.
1 – Determine Your Business’s Goal
Be certain of the goal and purpose of your fantasy sports business before searching for a DFS operator. Determine all the important factors you wish to concentrate on and whether or not your selected DFS operator can fulfill them. Whatever the goal, be sure your DFS operator will assist you, whether it’s developing a fluid revenue model or brand enhancement.
2- Market research, step two
Market research is a critical phase and affects how effective daily fantasy sports systems are developed. You can keep up with the most recent business news and trends by conducting research. Make that the business you select as your development partner conducts market research and uses the information obtained to construct your platform appropriately.
3. Able to create a cross-platform application
It’s crucial to create an app that works on both iOS and Android if you want your platform to expand and eventually succeed. With regard to mobile fantasy sports applications, having an app that functions well on both operating systems can help you reach more users and expand your user base. Therefore, be careful to pick a development partner who is qualified to create a quality cross-platform software for you.
4 – Beneficial Consultation
The business you select as your DFS operator should have sufficient industry knowledge to offer knowledgeable guidance on how to manage and promote a fantasy sports platform or app. You can choose the best guidelines and structure for your platform with the aid of useful insight. They should collaborate closely with you and maintain complete transparency during the whole development and management of the app.
5 – Sharing Testimonials and Reviews
It is crucial to conduct due diligence on a DFS operator before doing business with them. Find as many reviews and client endorsements about the business as you can. Consider the reputation a business has in the sector. Find out if the business has ever come under fire from the law. The best option is to choose a business with a good reputation and a sizable user base of satisfied past and present customers.
Considerations to Keep in Mind When Searching for a DFS Operator
Here is a list of all the things your DFS operator needs to provide for you. This contains all aspects that are crucial for user satisfaction on your fantasy sports platform.
1 – General Information
It is a good idea to provide several sports options in a platform. Perhaps cricket is the most well-liked sport in your area. That doesn’t mean you should alienate supporters of rival sports like Rugby, Football, or Baseball. So check to see whether your DFS operator can provide a platform that allows for a variety of fantasy sports, like golf, basketball, baseball, Kabaddi, soccer, and more.
Ensure that your platform is multilingual. Support for many languages enables your platform to cross boundaries and serve a larger population of users who speak various languages.
Another function that is quite well-liked by app users today is dark mode. It is a major plus if you can switch between a white screen and a darker one. Additionally, the platform must to handle various monetary systems and time zones.
A network game operator makes sure you have a platform that begins offering cash rewards on opening day with little to no risk on your end. This is a tremendous benefit because it allows you to considerably lower your customer acquisition costs. Vinfotech is the sole business that provides this feature as of right now.
Two: Game Mode
Multiple game styles prevent your fantasy sports platform from fast becoming boring and stale. The following game modes must be available on your platform.
Create and manage a team with tools like player cards, field view, and more to encourage fan interaction for one-off and regular-season games.
II. DFS tournaments
Hold tournaments that are reasonably long in order to maintain your users’ interest throughout the full competition. At the conclusion of a tournament, the total scores are combined to determine the winner.
3. A sports forecaster
Permit users to win money by correctly guessing the course of an actual game. This is a fantastic approach to increase fan interaction and add excitement to your game selection.
Four. Pick’em
In order to go up the leaderboard in this simple game, the player must select the winning team.
Three: Admin Panel
Every program must include an admin panel. An straightforward control panel that enables you to manage your users, funds, and everything else is a great benefit. Everything your admin panel requires to make managing apps simple is listed below.
I. User Administration
A strong fantasy sports program must have a user panel where a licensed admin may access reports, manage user details, deposits, and rankings, search users, and manage user information and rankings. It ought to be simple to configure.
Communication Management, Second
Your marketing could benefit greatly from a communication dashboard that enables you to develop and send focused campaigns via SMS, email, or push notifications.
III. Management of game play
The administration of the contests your platform offers is made simple by a gameplay module. The contests for the matches must be easily created and managed by this module.
IV. Management of banners
Administrators must be able to install and maintain AD banners in the panel; they can be used for sponsor or internal marketing.
V. Management of Admin Roles
Manage administrator access and grant vetted access to partners, vendors, and authorized staff.
6. Product Management
It might be really helpful to have a section where you can add a range of goods. The prize distribution page of free-to-play and DFS game types will display the new products.
Deal Management, Chapter 7
Increase your amount of deposits by giving players fantastic discounts. This is a fantastic feature that motivates customers to pay for your software.
Static Content Management, Chapter 8
A section specifically created to handle the text of all key app or website pages, including “About Us,” “Privacy Policy,” “Terms of Use,” and others.
Reports, IX.
A component that gives you useful information and practical insights about your players, deposits, tournaments, available contests, etc.
X. Financial Administration
You can plan, organize, regulate, and monitor all of your company’s financial resources using a special panel. Ensure that your operator gives you access to an area where you can watch, follow, and download all transactions.
Affiliate Management (XI).
You can manage your relationship with affiliates in this portion of the control panel. You can keep things open and honest between you and them by giving statistics about the commissions made, the number of users enrolled, and the deposits received.
Tax Management (XII)
Get easy access to details about your income, your tax obligations, and your eligibility for refunds to ensure that you are following the established tax regulations in your area.
4: Reward Systems and Management
Rewards, especially those that are monetary, attract a lot of people. Ensure that your DFS provider incorporates a solid rewards program into your platform. Starting with currency bonus cash would be ideal. Coins for virtual money are yet another excellent approach to win over players.
Daily check-in bonuses are a great way to keep users coming back to your site. Another technique to keep your players interested in the app is to use Spin-The-Wheel.
Five. Leaderboards
A fantastic technique to add competition to a player’s games is through leaderboards. Players can utilize leaderboards to keep track of their progress and return frequently to climb the leaderboard. Your vendor must include one of two sorts of leaderboards.
I. Leaderboard for Fantasy Points
Displays the player’s standing on the leaderboard and the points they have earned based on how they have performed in tournaments.
II. Leaderboard for referrals
A leaderboard that places individuals in order of the volume of recommendations. Those who receive the most referrals are rewarded. This is an excellent tool for encouraging users to recommend your software to their friends and family.
Six Additional Important Features
Payout Gateway
Almost all important payment gateways that are extensively utilized in your country should be linked into the app. Transactions are made simpler for your users when payment methods like PayPal, Paytm, PayU, and Stripe are supported.
Block Users II
Include a function that enables you to block participants from specific states that forbid fantasy sports applications. For instance, the fantasy sports platform in India is required to contain a “Banned States” feature that prevents players from Andhra Pradesh, Nagaland, Odisha, Sikkim, and Telangana from using the service.
Automated KYC, third
Without hindering transactions, automated KYC validation carried out with the aid of 3rd Party Integrations assures compliance.
4. Immediate Withdrawals
The platform must include built-in backing APIs to enable quick transactions after customer withdrawal requests are approved.
Why You Should Pick Vinfotech to Operate Your DFS.
One of the first things you need to do when starting a fantasy sports business is to find a reputable operator. One such business is Vinfotech, which has assisted numerous businesses in building successful DFS platforms as well as navigating the challenging market conditions. We are one of the greatest fantasy sports app developers in the nation right now because to our expertise and the tools we offer.
Just a Few of Our Offerings are Listed Below
- Personalized Fantasy Sports App
- a fantasy sports platform that is fully adapted to your unique needs.
- Fantasy Sports App with White Label
- Finished, highly scalable, and reliable fantasy sports app development.
- Apps with a Brand Engagement Focus
- Platform for fantasy sports that uses free-to-play or virtual currency to encourage more participation.
Platforms for daily, weekly, and season-long game kinds have been developed by our team. Some of the top sports stars in the nation have backed the fantasy solutions we have developed. The possibilities in the fantasy sports field are continually being pushed. As a result, we have created effective fantasy sports solutions for a variety of industries, including e-sports, politics, music, and movies.
We are knowledgeable about what it takes to develop a cutting-edge, feature-rich fantasy sports app that benefits all of its stakeholders because we are members of international regulatory organizations like FIFS and FSGA. For our clients’ benefit, we work with the top payment gateways and data feed suppliers to create mobile applications and websites that are incredibly well-polished.