There are a wide variety of companies which are associated with sports in one way or the other. Digital Media plays a very important role in the sports ecosystem to build fan engagement through fantasy sports and it is very closely associated with sports. But the most important for the media companies is their sports content consumption and identifying the best revenue streams.
One of the most innovative methods to deal with this is Fantasy Sports. In sports media, fantasy sports is more than a business. When you consider fantasy sports for building engagement, the process of engagement becomes more organized while you are able to engage customers more deeply.
Future of Fantasy Sports
The future of fantasy sports is full of fantasy. As the pandemic affected major live sporting events that were either postponed or canceled to ensure the safety of the players, Global sports fans consumed newer long-tail sports like baseball, handball, and rugby through fantasy sports. The industry has been able to introduce new sports and tournaments from places that were free of Coronavirus.
Since the world has widely accepted fantasy sports, fantasy sports will likely be legalized in many countries for once and for all. Fantasy sports companies will gain more of the market shares and will have much more share interest. Fantasy sports companies are growing rapidly. People like to play fantasy sports and People are getting hooked into it while playing online fantasy games.
Fantasy sports in the U.S., Europe, U.A.E, and Nigeria continue to grow and show no signs of slowing down. The United States fantasy sports industry has grown from an estimated 35 million players in the US + Canada in 2010 to 80 million in 2020.
Features of The Fantasy Sports Platform
- H2H, Leagues, Multi-Entry, and Guaranteed games.
- Customization Scoring Logic.
- Sports League to your choice.
- Celebrity & Stock Market Fantasy.
- Leaderboards and achievements.
- Scalability of the platform.
- Integration of a variety of sports.
- Integrated Wallet Management.
- Compliant to All Major Jurisdictions.
- Custom UI/UX.
Ways To Build Engagement
To engage sports fans with their favorite sports league and tournament they have to watch it mostly on Television and sometimes in a stadium. With the advent of social media platforms, fans got the opportunity to follow their favorite league, team, and player. These, however, are passive ways of engaging with sports.
Interestingly, research by Kantar has shown that fantasy sports users who engage with online fantasy sports platforms more than 4x a week spend on an average of 210 minutes per month watching sports in comparison to users who engage less than four times a month watching sports. online fantasy sports engagement has a direct impact on sports viewership, and, in turn, helps encourage a sporting mindset.
There are various ways through which your platform can gain more fan engagement through Fantasy sports platform-
- Offer required to users such as vouchers, gifts, and discounts
- Ask quizzes and Attach a reward or discount coupon with your answers.
- Just as a quiz, ask users to predict to engage with them more deeply.
- Social media is about what other people are doing, so tell other customers what your users are doing to attract them to your platform.
All the above factors lead to more engagement on your fantasy sports platform by increasing the time spent.
At the end of 2019, the universal market size of Fantasy Sports was USD 18k million and it is expected to reach USD 43,370 M in 2026, with a compound annual growth rate of 13.3% during 2021-2026. Advertising will be the major source of that revenue.
The USA is the largest market of Fantasy Sports with a revenue market share approx 60% and the second-largest market in the world is Europe, with a market share of about 15%.
The market can be divided into type, the Fantasy Sports can be segmented into Fantasy Football, Fantasy Baseball, Fantasy Basketball, Fantasy Soccer, Fantasy Cricket, Fantasy Racing, and Others.
Popular Leagues Using Fantasy Sports For Fan Engagement
English Premier League or the EPL, is the top level of the English football league system. Contested by 20 clubs, it operates on a system of promotion and relegation with the English Football
The National Football League is a professional American football league consisting of thirty two teams, divided equally between the National Football Conference and the American Football Conference.
The Indian Premier League is a professional 20-20 cricket league in India usually started in March of every year by 8 teams representing 8 different cities or states in India. The league was founded by the BCCI in India in 2007.
The Canadian Football League is a popular sports league in Canada. The CFL is the highest level of competition in Canadian soccer. The league consists of 8 teams, each located in a city in Canada.
The National Hockey League is the most popular ice hockey league in North America, currently comprising 31 teams: twenty-four in the United States and seven in Canada. The National Hockey League is considered to be the premier professional ice hockey league in the world
5 Best Fantasy Sports Sites in 2020
- FanDuel: Fanduel is the topmost fantasy sports sites, based in the United States. The company is believed to have a net worth of more than 1 billion USD.
- DraftKings: DraftKings is a multi-billion dollar company based in the USA. It focuses on fans in North America, allowing them to compete in daily online games where users can play a variety of professional and college sports.
- Dream11: Dream11 is your ultimate choice for cricket fans in India. It’s the world’s largest fantasy cricket platform, where you can showcase your cricket skills and understanding to make real cash instantly.
- Fantasy NFL: Fantasy NFL is purely focused on American Football. You can select actual football players and compete with other fellow users, with the scoring is based on the actual player’s stats.
- Super Bru: The online fantasy sports platform was started back in 2003. Offering a wide range of sports such as cricket, rugby, golf, tennis, and more, it is one of the leading OFS.
Tecpinion is a user engagement centric and fantasy sports web & application development company and a pioneer in creating fantasy sports solutions. We have the greatest ideas for creating online fantasy games and fan engagement. If you are planning to launch your engaging fantasy sports platform, get in touch with us.