Fantasy sports have gained a lot of traction around the globe for many years. Daily Fantasy Sports is the most popular and most played fantasy sports game worldwide. DFS today is a billion-dollar industry. In just a few years the industry has become the popular thing in the sports world probably since satellite TV. Let’s explore everything about Daily Fantasy Sports or DFS.
Types of Fantasy leagues
Daily Fantasy Sports
Daily fantasy sports or DFS are a subdivision of fantasy sports, played over much shorter periods of time, with more frequent team selection, real money, and prizes. Participants engage in contests through online fantasy sports platforms, which allow them to build a team of sportsmen for a given league and win prize money based on the athletes’ performance in the game.
Season Long Fantasy Sports
Season-long fantasy sports or SLFS is the traditional kind where puters draft their team at the beginning of the season and follow the action each week. Within the season-long format, you’d draft a starting line up of players who you think would get you the most points over the course of an entire season. According to a recent survey, 60 million people play season-long fantasy sports while 12 million are registered DFS.
DFS/Daily Fantasy Sports industry insights
The USA currently holds the maximum market with significant growth due to the nation’s economy, the growing popularity of sports, and the increasing number of internet users and sports sponsors. For instance, in 2018-19, the National Football League (NFL) signed a multi-year deal with one the industry giant – Draft King and become the first official DFS partner that has the exclusive sponsorship on NFL.
Coronavirus pandemic has spread across the world, infecting millions of people. sports events took the unusual step to postpone to prevent the spread of COVID-19 by avoiding large gatherings. In March 2020, the NBA announced the suspension of the 2019-20 season. But, according to the scientists, the vaccine will soon come in the market before February 2021 and the situation will get better.
The market size of the fantasy sports industry is expected to reach 26000 million worldwide by the year 2024. It has undoubtedly become one of the growing industries in the 21st century.
Advantage of Daily Fantasy Sports
Daily fantasy sports/DFS leagues differ a bit from regular season-long fantasy sports in the sense that DFS offers you the opportunity to draft new sportsmen constantly. This is not possible with season-long fantasy or regular fantasy leagues since you can only draft players once during the entire event.
Daily Fantasy Sports allow you to play more than one game each day, and there are always games being played at all times and you can take more actions in the entire season. That’s the best thing about DFS.
In Daily fantasy leagues, you can earn money each day depending on your skills. The National Basketball Association Daily Fantasy league has the option to pay you at the end of the day and, Because of this most people prefer to play DFS.
Famous game types and contest types in fantasy sports
When it comes to fantasy games, the choice is wide. Players can choose from a wide range of contests including global tournaments. Here are some of the Famous game types and contest types in fantasy sports:
A 50/50 fantasy sports contest can be played by multiple entrants, and the top 50% of the entrants win prizes. Entrants, whose score is in the top 50% of the field wins an equal share of the prize pool. Whose scores fall in the bottom 50% of the field get nothing.
This contest is very similar to a 50/50 contest with the same principle, but there are only two entrants. The contestant with the highest score wins, the other one loses. The correct strategy for head-to-heads is basically the same as 50/50. there’s roughly a 50% chance of almost doubling your entry fee excluded commission.
Big Tournaments have large player fields and larger prize guarantees. Contestants can win a large prize in big tournaments if they create a winning roster. These contests give players the chance to win some large prizes by investing very small entry fees.
There are other game types including a triple, double up and quintuple up games, Sit N Go games, and many more.
sports categories supported on daily fantasy sports platforms
Most platforms support soccer, American football, basketball, and football while others focus on specific sports, like MMA and NASCAR.
The major American sports are the most popular for Daily Fantasy Sports:
- Football (NFL)
- Basketball (NBA)
- Baseball (MLB)
- Hockey (NHL)
Many other big sites offer other sports, such as:
- College football
- College basketball
- Mixed martial arts
- Esports (like League of Legends)
How to Plan for a Daily Fantasy Sports solution?
Here are ways to plan a solution:
– In which geographic region to want to launch.
– How many and which sports will integrate into your platform.
– Understanding licensing & legal requirements.
– Payment gateway of your choice.
– Hire an expert and experienced team of application developers.
– The features for your Fantasy Sports solution include-
- H2H, Leagues, Multi-Entry and Guaranteed games
- Customization Scoring Logic
- Sports League to your choice
- Celebrity & Stock Market Fantasy
- Leaderboards and achievements
- Scalability of platform
- Integration of a variety of sports
- Integrated Wallet Management
- Compliant to All Major Jurisdictions
- Custom UI/UX
– Stay Clear About the Costing and Ensure that the Provider does not have a hidden revenue sharing policy.
By choosing software development professionals with the expertise in designing & developing fantasy sports solutions will help you create an engaging and best application for your Fantasy Sports business.
We at Tecpinion, help you to launch successful Fantasy Sports software for more than 50 sports such as football, basketball, hockey, volleyball, golf, Horse racing, and several more with advanced features. Our expert team analyses your performance and provides you with the best solution. Our offerings include custom fantasy sports website and software development and turnkey fantasy sports solution services that enable the best customer experience.