Dream11 struck gold because of its clearly thought-out launch strategy and its firm grip on the Indian fantasy sports market.
Fantasy Sports Gaming is an emerging domain in India, which provides sports fans with an opportunity to use their knowledge, skill, and understanding of the sport to win in online versions of actual on-ground games. In a fantasy sports platform, a user gets to create an imaginary or virtual team within an allocated budget for a match that is happening in the real world. Based on the statistical performance of the team, users win money if their strategy and predictions are right.
In India, fantasy sports was introduced in 2001 by ESPN Super Selector. The fantasy sports domain evolved over the next 18 years with the launch of Dream11- consisting of 90 percent market share in the fantasy sports league, along with other platforms like MyTeam11, MPL, My11Circle, Fantain and more. With the growing prominence of Fantasy Sports Apps, venture capitals have also started investing in fantasy sports companies. Dream11 has raised a total of $100M in funding over 5 rounds, which makes it one of the biggest & most popular fantasy sports app in India.
With more than 6 crore user base, Dream11 has inspired entrepreneurs to dream big when it comes to fantasy sports platforms. Along with its closest competitors there are 60 fantasy sports operators, currently offering various fantasy sports games and options to Indian users.
Yes, that’s because of the sheer size of the market and the options of sports and games plays that are still untapped in India. In 2016, there were just 2 million fantasy sports users. In 2018, the number reached 20 million. This is astronomical growth for any industry, to say the least.
For a nation like India, sports always bring a sense of national pride that is incomparable to any other form of entertainment. Dream11 being an eminent player is offering fantasy cricket, kabaddi, football, and basketball. Out of these, cricket and kabaddi are especially in Tier-2 and Tier-3 cities while football and basketball are picking up fast in North India while being extremely popular in North-East and South India. The size of the Dream11 user base is a good indicator that these games are the best bets in India for any startup that wishes to strike gold in the fantasy sports application industry.
There’s a sizable audience that plays fantasy sports on mobile phone because it gives users the convenience of playing anywhere with anyone. Dream11 has a website that mostly directs users to download the mobile application in order to play.
Dream11 makes it very easy for any user to create an account through email, phone number or any of the social media accounts. There’s a combination of free games and paid games for the users to choose from.
Thanks to the new fantasy cricket laws in India, it is absolutely legal to play and win cash prizes on Dream11. The Dream11 account of users is linked with their PAN card so the money can be easily transferred into their accounts instantly.
Users can view the entire contest listings by using filters such as winning range, entry fee range, contest type, contest size. Similarly, contest listings can be filtered with the contest name, type, size, entry fee, winners count, the total winning amount of the contest or total team count.
Users have the option of creating their own contest by filling in the details such as total winning amount (minimum and maximum), contest size (minimum 2 and maximum 100), multiple teams, entry fees, etc. Users can invite their friends to join their contests too.
User can also earn reward points by inviting friends to play through sharing app link or URL and get a referral code for earning the points. This further helps in multiplying the user base of the application.
Dashboard: Upon login, the admin dashboard gives information about the stats of the fields like a total number of contestants, total matches (played, ongoing, upcoming) and the entire earnings.
Match and user management: The admin is easily able to manage entire matches of the application and can Edit/Delete/Add/Active/Deactivate matches or can manage the games categories.
Easy management of functionality: The admin panel is easy to use and the admin is easily able to modify CMS pages such as about us, contact, help, points system or payments, withdraw requests, entry fees and so on.
In a decisive case in 2017, the Supreme Court held the ruling of a state high court in favor of Dream11, calling its fantasy sports format a game of skill. Though, there are no specific laws that define fantasy sports in India, due to which fantasy sports are regulated by the Federation of Indian Fantasy Sports (FIFS). Self-regularisation norms for the Indian fantasy sports industry is set up by the federation until the government comes out with any standards and laws.
According to Statista, there are over 560 million internet users in India, making it the second-largest online market in the world, ranked only behind China. It was estimated that by 2023, there would be over 650 million internet users in the country. Various sources reveal that there are 90 million fantasy sports players in India alone. This also means that two out of three sports fans in India are aware of fantasy sports.
India is a cricket frenzy nation and cricket fans always want more. They will do anything to keep engaging with the sport regardless of their social status, time of the year, or season. There are 200 million people consuming cricket online in India and this demographic needs to be tapped.
As per a news piece in The Economic Times recently, more than 222 million active gamers spend an average of 42 minutes playing mobile games every day over five sessions. India is one of the top five gaming markets in the whole world in terms of a number of gamers.
Dream11 hosts fantasy games in four types of sports. Always determine the scope of your website or application in terms of a number of sports and types of. This helps you determine the budget later while also keeping your development partners on track.
Choose partners who have built successful fantasy sports platforms and who also have partnerships with relevant industry leaders. For instance, Vinfotech has delivered several fantasy sports websites and mobile apps in more than 20 kinds of sports and gameplay and has partnerships with FSTA and leading payment gateways. With the latest product upgrade, we have launched SportsHub- a one-stop solution for all the engagement needs of fans. Vinfotech is committed to providing high-quality solutions to our clients venturing into the gaming space.
Your development partners should be able to guide you through the whole process of building an MVP (minimum viable product) and help you build an entire fantasy sports product. Once you roll out the MVP first, you will have a clear validation from your targeted customers to help you determine your launch strategy.
Scalability is essential in that it contributes to competitiveness, efficiency, reputation, and quality. Fantasy sports businesses must be particularly mindful of scalability because they have the biggest growth potential and need to maximize the return with resources. Your product should be able to handle traffic smoothly along with having a great user experience.
If you are interested to build a website or a mobile application like Dream11, give us a call.
Vinfotech creates world’s best fantasy sports-based entertainment, marketing and rewards platforms for fantasy sports startups, sports leagues, casinos and media companies. We promise initial set of real engaged users to put turbo in your fantasy platform growth. Our award winning software vFantasy™ allows us to build stellar rewards platform faster and better. Our customers include Zee Digital, Picklive and Arabian Gulf League.
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