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DREAM11, A Fantasy Sports Platform - The Ultimate Guide for Beginners
Throughout the world, the love for Sports among people has been to the moon and back. The way they feel for their favorite sports is so deep. We all have our favorite sports. We may play the game nor love to watch our most liked players, playing the game.
Apart from education, you need good health, and for that,
you need to play sports.
- Kapil Dev
Sports is being an important factor in our life from our childhood. But today is this busy running world we just have time for watching the sports. To fulfill the urge of our self, we started playing online games. The evaluation of the internet and the technology development in Smartphones made it much easier to play games with the happiness that we get while we play the original game outdoor. This gave a lead to the raise of the fantasy apps for sports.
What is Fantasy Sports Apps?
Fantasy Apps is the sort of game where the participants form imaginary teams of real players of professional sports. It is a game where users create a virtual team of real-life players and earn points based on the performances of these players in real matches. Now let me tell you from where it all started through a concise history.
Early History of Fantasy Sports
One of the earliest published accounts of fantasy sports involved Oakland businessman and one time Oakland Raiders limited partner Wilfred "Bill" Winkenbach. He devised fantasy golf in the latter part of the 1950s. But these weren't world-famous
Emergence of Dream11
With the concept of Fantasy Sports, Harsh Jain and Bhavit Sheth co-founded Dream11 in 2008. They introduced freemium fantasy sports in India for cricket fans.
It is a member of the Fantasy Sports Trade Association (FSTA) and is the founding member of the Indian Federation of Sports Gaming(IFSG). In April 2019, Dream11 became the first Indian gaming company to enter the ‘Unicorn Club’.
Dream11 Game Format
Dream11 provides a gaming platform for multiple sports such as cricket, football, basketball, kabaddi, and hockey. A participant who scores the maximum points in his joined contest attains the first rank on the leader-board. Dream11 offers free and paid contests. A user needs to pay a certain amount to join a contest and can win real cash. To participate in a Dream11 game, a user must be at least 18 years old.
Stats of Dream11
In 2014, the company reported 1 million registered users, which grew to 2 million in 2016 and 45 million in 2018. In June 2018, Dream11 reported that it has 4 million users, up from 2 million users in 2017. The company also made to the list and ranked 9 among India's Great Mid-Size Workplaces - 2018.
In May 2015, Australian research company research firm IBISWorld reported that fantasy sport was a $2B industry, experiencing 10.7% annual growth, and employing 4,386 people in 292 businesses.
According to the Fantasy Sports Trade Association, Fantasy sports is a $7.22 billion industry with 59.3 million fantasy sports players in the United States and Canada as of 2016
Growth of the Fantasy Sports Market
In comparison to the United States, the UK has hardly 5% of the population participating, whereas the U.S. has about 10% of its population playing fantasy sports. ESPN Super Selector launched in 2001 for fantasy cricket and had 500,000 users during the 2003 ICC World Cup in South Africa. By 2017, there were 40 million fantasy sports players in India.
A 2006 study showed 22 percent of U.S. adult males 18 to 49 years old, with Internet access, play fantasy sports. Fantasy Sports is estimated to have a $3–$4 Billion annual economic impact across the sports industry
Now you may wonder that whether betting apps are legal or illegal. I will Clarify your doubt.
According to The Public Gambling Act, 1867, Section 12 - “Act not to apply to certain games” Dream11 is 100% Legal. This law clears that game played with the “GAME OF SKILLS” which means the participants uses his/her analytical skills and prediction talents about who will win/loss and which player will score more/less. By the above statement it is clear that Dream11 is absolutely legal. Dream11 is also legal in another way as it pays 23% tax to the Government.
The growth of the market has been tremendous. Within a short period, it has reached its peak. Across the World, the most popular fantasy sports app till date is Dream11. They are ruling the gaming market.
In September 2015, Forbes reported that Eilers Research was projecting that daily fantasy games will generate around $2.6 billion in entry fees this year and grow 41% annually, reaching $14.4 billion in 2020.
So, just think why don’t you start a business like Dream11? It is merely possible for a common man/women to start a business with knowledge and love in gaming. There are very few numbers of competitions to give a tough war in fantasy sports.
Well, you all know that various sports tournaments are about to be held in the upcoming years. Like ICC World Cup T-20 in 2020, FIFA World Cup in 2022, ICC World Cup in 2023, ICC Champions league in 2021, etc. These are the future coming big events will is going to give you an enormous amount of revenue.
The journey of Dream11 to reach such a height is not simply an easy task. After crossing many hurdles they have become a Unicorn.
Success always leaves Foot Prints
- Booker T. Washington
As Sir. Booker T. Washington said Dream11 have shown us a way to get success. Following their footprints will help us to taste the dish of success. Success Doesn't just come and find you, you have to come out and find it. We have found a way for you.
Startupmart is a renowned web and mobile app development company with world-class portfolios providing dynamic Clone Scripts for the businessman/women to launch their respective business in the Internet’s indispensable market.
Disclaimer : Startupmart neither represents nor has command over the trademark of "Dream11". We are not doing any promotional activities and we use the term only for understanding our product. Our motto is not to harm any organization or individual.
Muthu Priya is a enthusiastic Digital Marketing Executive who has strong background on-demand mobile app marketing, performance-driven habits and forward-thinking creativity to all programs she oversees. She writes about mobile app technologies, Startups, Industires. Stay in touch with the blog updates at Startupmart to know the trends of On-Demand Industry.