Factors effecting the growth of Fantasy Sports Industry


Imagine being the top Fantasy Sports business operators in the coming area! Over the period, this image has turned into a reality for many entrepreneurs who have invested in Fantasy Sports. However, the coming years will be like a treasure hunt for all those who are investing in the support of Fantasy Sports services today. India’s state governments are slowly lifting the ban on playing Fantasy Sports in their respective states and forming legal suits for the industry to avoid frauds and mishappening with users.

After going through multiple factors, we have found out the factors that are affecting the growth of Fantasy Sports in 2022. 

Let’s dig further and understand maximizing the use of the below factors:

1. Increase in Partnerships

In the past few years, fantasy sports has witnessed many partnerships and strategic collaborations with multiple Stakeholders. For instance, Game Credits collaboration with Fanduel for presenting free World Cup tournaments, a partnership of MATTER with FSTA, an association of Vision11 with BFC and Kabaddi teams to increase the reach of fantasy sports platforms.

Researchers are expecting more such worthy partnerships this year which will boost the growth and reach of the Fantasy Sports industry among potential fans.

Many big and small Fantasy Sports platforms are partnering with different sports teams.

2. Investment in Marketing and Advertising

An increase in the investment of marketing strategies and advertising shows the growth of fantasy sports. Platforms are even investing in TV ads to promote their fantasy sports services. The marketing campaigns and rigorous advertising become lucrative for the sports industry and drive more audience to the platform.

Moreover, announcements like — the US lifted the ban on the Fantasy Sports Google ads in certain states, boosting the ad campaigns of the industry.

3. Boost of Millennial Interest

Millennials are born with a silver spoon of mobile phones, the internet, and digitalization and they can’t imagine their world without this. This tech-friendly generation is more inclined towards creativity and skillful opportunities than following a whole long procedure of theoretical knowledge.

Activities requiring skills and brainstorming attract millennials more, and that’s how they are inclined towards the Fantasy Sports industry. The interest graph is expected to witness a huge boost in the user base of the Fantasy Sports industry by the end of the year 2022.

4. Increased in number of Sports Events

The more live sports events, the more the opportunity to play Fantasy Sports will be. As the interest of the public is interested in making a professional career in the Sports Industry, the increase in the number of live sports events also contributes to the growth of the Fantasy Sports industry.

The urge of being part of the Sports industry. The urge of sports fans to be an active part of sports events rather than watching only has hiked the bar of fantasy sports. Nowadays, along with watching sports, people prefer to use their knowledge and skills of sports to get something out of it- satisfaction or reward. For those it is not easy to be a part of live sports events, Fantasy Sports platforms are a one-stop solution. This urge of being an active part and contributing sports knowledge/skills is increasing which is directly affecting the growth of the Fantasy Sports platform.

To get the best Fantasy Sports app hire experienced developers like RGI.

5. Technology Advancement

Technology played its part in boosting the growth of the Fantasy Sports industry. The modern and advanced UI of the fantasy sports app makes the usage of the platform quite convenient for users and provides them a rich user experience. Additional interesting features like — achievement badges, loyalty programs, leaderboards, etc. bring more attention of sports enthusiasts to the table.

Besides this, the availability of streaming partners is also contributing to the growth of Fantasy Sports.

6. Availability of Internet and Smartphones

The availability of the internet and smartphones have become a boon for the fantasy sports industry. Now, even user participation from Tier 2 and Tier 3 cities has increased. The affordability and availability of both Internet and Smartphones together are leading to the exponential increase in the growth of the user base of Fantasy Platforms.

7. Competitors

Over the past few years, especially in the recent pandemic time; the number of Fantasy Sports operators has increased. It is not easy to establish your platform, without having an attractive UI or unique selling point.

All the fantasy operators are trying hard to stay in the market, which is increasing the competitive landscape. To beat the competitors, RG Infotech can help by providing robust and functional Fantasy Sports solutions.

8. App Development Services

With the increase in demand for Fantasy Sports applications, the sports platform development services companies have also increased in recent times and many companies will be launched in 2022. 

Now, fantasy operators are trying multiple development services to get the best solution at an affordable price in the required time.

The increase in fantasy sports app development companies also directly affected the growth of the platform.

9. Boost in OTT Platforms

The increasing popularity of OTT platforms is also helping the fantasy sports industry to boost and go beyond the traditional methods. The OTT platforms stream the sports matches and give huge entertainment business which will contribute to the fantasy sports industry too. Publishing advertisements on OTT platforms will target the right audience.

Conclusion

Hence, Fantasy Sports industry growth has just begun, it will go beyond the imagination of experts even. As the world is relying more on digitalization, the Fantasy Sports industry is attracting sports enthusiasts. The techno-friendly and easy-to-use interface of such apps, keeps the users entertained. Moreover, the legalization of the platform is clearing the doubts of all those who were interested in Fantasy Sports but were afraid of looting by the frauds. To set up the Fantasy Sports business, you need to hire expert app developers like RG Infotech, who have vast experience in the industry.

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