What Is Fantasy Sports Betting?
Fantasy sports betting is a different business concept from traditional sports betting, as you don't bet directly on the outcome of any gaming events. Instead, you make a fantasy sports team and compete against opponents to try and win more currency.
Looking to start a Fantasy Sports Game like Dream11/MPL? Here's the Complete Guide to start a Fantasy Sports Game like Dream11/MPL with Crypto Betting.
Fantasy Sports betting software development works exactly like Dream11. With our Ready to launch Sports Betting Software Solutions, you can launch your own Fantasy Sports Betting Platform instantly and it is a Billion Dollar Business Application.
Fantasy Sports Betting - Blockchain Development
We are the specialists who develop an arena that brings together sportsperson, coaches, and users. We offer dynamic, custom-made, responsive, and remarkable fantasy sports app development solutions for iPhone, Android platforms.
By using Blockchain technology, we offer the high security to your Fantasy Sports Betting Platform. Blockchain-based gaming solutions enable faster and easier transactions, highest security, regulate gaming economics, etc.
In simple words, when we talk about Sports betting revenue models we implicate the ways and the sources through which the Sports betting app will make more money.
For the admin's view earnings, role-based dashboards, league management, user management, CMS, CRM, bank transaction management, reward point management.
1. Admin manages all the cash amounts which are received by the end-users and promoters, Ads, distributes the money among the winners. Apart from this, this exclusive admin feature allows the admin to manage the content of the application.
2. Above ROI related features ensure that your sports betting software is user-engaging and profit-generating machine and can attract more and more audience to bet online.
This kind of Fantasy sports development offers surety about the success of the business. For the development of Fantasy sports with crypto betting, you have to choose the best game development company that can design high-quality UI and UX with which your business can earn a huge amount of revenue.
3. The admin also has to create an account for accessing all kinds of information. He is able to login according to self-generated credentials. Admin is responsible for updating the winner and loser at the end of the match.
4. The admin decides the price of an individual end-user for a certain match/tournament. It enables the admin to decide the betting type, betting style, total amount to be placed, and more.
What is Fantasy Sports?
Fantasy sports is a game where users can develop their own imaginary sports teams using active players from different kinds of teams scheduled to play in a league or a match. Their winning status will be based on the real performance of the selected team players in their fantasy sports team.
Fantasy Sports Growth in Global Market
In 2018-2022, The world's fantasy sports market size will increase by USD 7.62 billion. The Booming popularity has built fantasy sports a billion-dollar industry worldwide. India is one of the rapidly catching up with western countries. Millions of users are playing Fantasy Sports already and the number is rising rapidly.
The Fantasy Sports industry continues to grow, with no sign of slowing down around the global market. Fantasy Sports business models are all about entertainment and high revenue for both the users and the investors & owners.
Dream11 is India’s Biggest Sports Gaming website or platform with 20 Million fantasy sports users playing fantasy cricket, football, basketball which almost grip 90% of the sports market share.
What is MPL (Mobile Premier League) in India?
MPL (Mobile Premier League) is a skills-based play and earns an e-sports platform in India. MPL has over 50 million users in India and is endorsed by Virat Kohli and Tamannah Bhatia.
MPL is an earn money while you play e-sports & online gaming mobile application where you can earn money from by investing minimal costs and playing sports, these points can then be redeemed to your Paytm or your mentioned personal wallet. MPL is completely safe and legal and backed by worldwide investors.
What is Dream11?
Dream11 is a fantasy gaming platform based in India that permits users to play fantasy cricket, hockey, football, kabaddi, and basketball. It is operating India’s largest Fantasy Sports platform with 1.5+ Crore users playing fantasy sports. Cricketer Mahendra Singh Dhoni is the brand ambassador of Dream11 and launched the “Dimaag Se Dhoni” media campaign during the year of 2018 Indian Premier League.
Fantasy Sports on Dream11 is a "game of skill" that provides Indian sports lovers and fans a platform to showcase their sports knowledge.
The Rise and Rise of Dream11, and Fantasy Sports Gaming in India
Dream11 revenue records 3.5X jump in FY19, spent Rs785 Crores on Ads & promotions. Dream11 makes more profit through the entry fee it charges from its valuable users when users start to play on Dream11. While the high revenue of the fantasy sports company took a leap of 3.5X to Rs 775 cr from Rs:224.64 crores in FY18, total revenue recorded a little over three-fold increase to Rs:935.05 cr from Rs 293.33 crore in FY18.
According to the dream11 annual financial report, the company raised Rs 652.66 cr through the distribution of preference shares in FY19. The sports company purchased financial securities worth Rs 1,705 cr during FY19 and earned approximately Rs 9.88 crores as interest and additionally another Rs 13.62 crores as gain on sale of these investments.
Actually, What happens is that Dream11 deducts 20% from the total entry fee charged by the end users and issue the 80% among the winners of the league.
IPL 2020: Dream11 wins IPL Title sponsorship Rights
“Dream11 has won the rights with a bid of Rs 222 crore,” IPL chairman Brijesh Patel told PTI.
Sports Betting With Crypto: Is it Legal?
In the 2017 year, a particular case was registered against the Dream11 in an Indian High Court. The court judgment, in its ruling, stated that playing the Dream11 sport involves superior attention, knowledge, and judgment. The Court also imprison that the element of skill had a principle influence on the outcome of Dream11 sports. However, the rules and law's does not permit Fantasy Sports in the certain Indian States like Assam, Odisha & Telangana.
A challenge to this rule was covered with the Supreme Court of India, which banished the appeal. The judgment provided legality to the dream11 company and allowed them to run their whole gaming functions and operations throughout the country.
Let’s dig deep into blockchain & Crypto based Sports Betting:
Fantasy Sports Betting - Blockchain and Cryptocurrency
Blockchain & Cryptocurrencies plays an important role in sports betting. Bookmakers are the ones who are most benefited with this sports betting. Blockchain saves the whole database which is secured and authenticated by the user and anyone on the Blockchain network.
Private sportsbooks usually don’t give the data when it comes to reporting an incident thus making more trouble for the bookmakers. Blockchain will eliminate this kind of data-oriented problem but keep it all transparent for each and every one.
Cryptocurrency Implementation for Fantasy Sports Platform
All the financial-based transactions like entry fees, bonuses, coupons, and winnings withdrawal can be done using cryptocurrency, Ethereum & blockchain technology. This helps in reducing high challenges, immediate transactions, and settlements, exclusively lower fees.
The biggest benefit of executing cryptocurrency is that it opens your fantasy sports gaming platforms to the world as cryptocurrency is free from any kind of government oversight & it's not bound by the crypto exchange rates, interest rates, transactions fees or other charges of any country.
So, crypto and blockchain can be used at international-based transactions with ease process.
Cryptocurrencies have also tapped into business market surveillance and are now being used to offer users with correct game-based information on the Proof-of-Skill agreement based algorithm.
Why is a Crypto solution necessary for the sports platform?
- Cryptocurrencies that have a perfect use case will prove the test of time.
- Easy Withdrawal with low fee
- No minimum amount for withdrawal
- Instant access to funds
The Blockchain technology also provides transparency, visibility, and high security, eliminating any rumors of insider trading or preferential rules and regulation for players in the ecosystem. The Blockchain & Crypto Solution also creates a best high secured platform for global growth for the ecosystem.
Why BlockchainAppsDeveloper for Fantasy Sports Betting App Development
We, Blockchainappsdeveloper leading Fantasy Sports Betting App Development Company offer the powerful Dream11 clone with all the existing features & advanced features and plugins.
Our skilled developers are good at developing both Readymade and customizable Dream11 Clone with attractive features and functionalities. We provide the best Fantasy Sports with crypto betting development and enhanced features at affordable cost and on-time delivery.
Our Fantasy Sports Betting App Development Packages include
1. Mobile Application for Android & iOS
2. Web Application
3. Powerful Admin Dashboard
4. 100% Customizable & Transparency
5. Digital Currency Payment options
6. Increased Brand Awareness
7. Flexible Engagement
8. Technical Expertise
9. Assured Timely Delivered
10. Competitive Pricing
It's the right time to make an entry into the billion-dollar fantasy sports industry with our Fantasy Sports Betting App Development.
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