With time and modern technology, the online gaming sector is evolving and getting popular each passing year. In today’s digital world, strong internet connectivity and high usage of smartphones have given easy online gaming access to gamers. Over the years, sports have been an integral part of our life and now sports have entered the online world and experiencing popularity in the virtual world.

 

Due to the growth of digital technology, the majority of players in the Fantasy Sports sector are experiencing huge partnerships, viewer-ship & increasing advertising expenditure. And it will keep on growing exponentially in the coming time.

 

Here, we will be discussing the key parameters that you will find very effective while starting your own online fantasy sports gaming business.

 

Research your Market

This is the most obvious step in starting any business including the online fantasy sports gaming business. Thoroughly research your target market and get familiar with the risks and requirements. Study your target users- what they like and dislike and have an in-depth analysis of your competitors. Thereafter, make the business strategy on how to approach the market with your own idea.

 

Figure Out the Sports to Include

There are lots of popular sports such as Cricket, Football, Kabaddi and lots more. Look for the sports that you want to have on your fantasy sports platform.

 

Register Your Fantasy Sports Company

In India, registering a company will enhance the progress of startups and offer an extra edge over the competitors who have not registered. The Ministry of Corporate Affairs conducts the registration process for the companies with standard rules and regulations framed following the law.

 

Step 1: Application for DSC (Digital Signature Certificate).

Step 2: Generate the Director Identification Number.

Step 3: Look for the relevant company name.

Step 4: File e-Memorandum of Association and e-Articles of Association to register a private limited company.

Step 5: Need to create PAN and TAN of the company.

Step 6: Submit certificate issued by Registrar of companies with PAN and TAN.

Step 7: Opening a current bank account on the company name for all the transactions.

 

Build Electrifying Fantasy Mobile App Platform

This is one of the major parameters to consider while starting an online fantasy sports platform. For a successful online fantasy sports gaming business, you need to build a best-in-class fantasy sports gaming app that is secured, appealing UI, and high performing features to offer the best gaming experience to your sports lovers. If you have your own app development team, then go with your in-house team. Otherwise, you need to hire the best fantasy sports development company to do the needful.

 

Create a Fantasy Sports Website

Your website is going to be your virtual fantasy gaming business. Do not mix the fantasy sports website with the fantasy sports game app. Your fantasy game app is going to be the platform where game users can play your online fantasy sports game, but your website is going to offer many other important features that will help your online fantasy gaming service to reach out to a larger set of gamers.

 

Key Features to include in your fantasy sports website:

 

1. A “How to Play” section that explains how to play online fantasy sports and win exciting cash prizes.

2. A section for the Registration process

3. An informative blog section with gaming news and useful content.

4. A customer support feature for your customers to ask any query related to the online fantasy game.

5. A gallery section where upcoming events, past events, and snapshots of the winner will be included.

6. A promotion section where you can provide exciting offers and bonuses for your game users.

 

For a successful online game business, user engagement and user retention are the two important metrics.

 

If you have an in-house development team then it’s fine otherwise hire a professional and experienced web developer for this purpose. The website design and features need to have an ideal mix to build the best fantasy sports website. The site should have an in-depth quality check to provide a bug-free, secure, and high performing website for game users. Remember that online gamers have a plethora of options to choose gaming platform to play online fantasy sports, so most likely they will bail out from your online fantasy gaming service if you are not offering the service as they are expecting.

 

Look for Authentic and well-known Data Provider

Data is the lynchpin for your fantasy sports startup. This is one of the important factors that would either run your fantasy sports platform seamlessly or break your business. For a flourishing fantasy sports platform such as the fantasy cricket platform, you will definitely need various data that needs to be managed on a regular basis. It is pivotal to choose an authentic data provider from the niche. Be sure to team up with a data provider that has immense experience in managing data for leagues. Some of the popular data providers are SportsRadar, FantasyData, and Stats Inc.

 

Leverage Digital Marketing Strategies

Now you have done your setup from company registration to fantasy sports mobile app to your business website. But none of these are going to make your business successful. These are merely the basic building blocks to start your own online gaming platform. The real challenge for most online gaming platforms including fantasy sports is getting enough users to register to your service to start playing online games. And the cause for it is the gaining popularity of the niche. There are tons of fantasy sports platforms in the market that are serving customers.

 

Here, comes the role of marketing. You need to sprinkle the magic of digital marketing to climb up the ladder of search engine rank. Every time a sports lover searches for playing fantasy sports, your fantasy sports website shows in the list of first SERP (search engine rank page) or even in the top position of the first SERP.

 

However, to be on the top spot or even in the first SERP, it takes time and effort. The ideal way to solve this is to have a sponsored spot in the search results while you organically scale up your way to a good rank. This can be fulfilled by curating and creating high quality and user-intent content and starting a blog on your fantasy sports website. The official blog page will help users to look for any tips, sports strategies, and other informative topics related to sports that people are highly curious about.

 

Some fantasy sports owners also make use of influencers to get users to register to their online gaming platform. The perfect way to do this is to search for niche-oriented influencers who can market and advertise your gaming service. Don’t forget that these influencers have an audience that relies on their opinion, so they are probably going to want to test out your service before they recommend it to anyone. It could be a successful step to give the influencer an opportunity to use the service at no cost so that they can have a fair idea of how it works.

 

Last but certainly not least, you should build a strong online social presence. People are more comfortable in assisting out a business or start-up that is quite active with their customers on social channels such as Facebook, YouTube, Twitter, LinkedIn, and lots more.

 

It has been proven that users generally gain trust in any service when they find activity going popular on well-known social media networks.

 

Integrate Payment Gateway

Security is the most imperative aspect of any online business. All payment related details and other high-end information must have guaranteed security to safeguard both the game app users and your business. Integrate a robust and secured payment gateway for your online gaming platform so that you can win the trust of your players. Find a payment system provider with an excellent track record, provides multiple payment modes, supports multiple currencies.

 

Open a Current Bank Account

As fantasy sports platforms such as fantasy cricket, fantasy football, and fantasy kabaddi are all comprised of real cash prizes, so you will need to open a current account with the bank for making and receiving payments, monitor your transactions, and have a record.

 

Final Thoughts

For starting a fantasy sports business, you need some initial capital, High-level patience (for initial setup and marketing process), a secure, swift & robust online platform, and an effective marketing strategy to increase footfalls. Once you manage all those things, you will experience immaculate results.

 

Just consider these aforementioned pointers while making your own fantasy sports gaming company. You will surely able to make it a profitable business that can be easy to organize after you have put a few years.

 

Are you willing to launch your own online fantasy sports gaming platform? We have an outstanding fantasy sports development team that is highly experienced in delivering featured-packed, intuitive gaming design, secured and high-performing fantasy sports platforms such as SportsIndia11, Skill2Fortune,11Hits, and lots more. Get in touch with us now and share your project requirement with our expert.