Sports betting apps have gained immense popularity with their thrilling user interfaces and the functionality to take over all sports. Betting has always been a controversial topic however, these sports betting apps have surely made things much easier and safe for people who like to enjoy their games with added thrill. The best part is the legality of this market and hence for budding enterprises and sports betting app development companies, the potential that the field offers is something that every businessman wishes to have. Many of these enterprises plan to create an app that according to their approach will be the best in the business however, not every dream is fulfilled.
There are hardly any brands that are able to meet the requirements of the market, maybe because the competition is tough and the entire business model works on the trust of the users. A single glitch in the development process might break down the entire client chain for you. Yes, that is the reason, people spend way too much time in finding appropriate sports betting app development companies that can handle the perfect model for developing the app that has zero glitches and gets the best results for both the users as well as the enterprise.
If you look at the stats, the number of people betting in the USA using these applications increased from 5% to 12 percent in the year 2021 and is all set to touch new heights in the years to come. Enterprises are always looking for flawless app development solutions. With a lot of options available in the market, they are always confused about what to hire and what to avoid. Which model to use for developing a perfect app that can be compared to DraftKings, one of the largest names in the betting industry. The escalation of new technology and a blend of data renders top-notch & unique gaming opportunities to the fantasy sports development companies in the USA and other parts of the world. The secure algorithms also stimulated the user base and developed an acceptance of betting/prediction software in the industry.
If you are a budding entrepreneur looking for ways to become the next big thing in the sports betting industry, then an application is a must-have for you. You can never deny the fact that technology has always made life easier in terms of reaching potential customers and when it comes to betting apps, the results have been the same. So how to get success in the field and what should be your model to develop sports betting apps like DraftKings? That is exactly what we are going to discuss in this post, so make sure you read it carefully as you will find out about the key features of the app, algorithms, business model, and more of the same that will help you get started with your venture!
Excited? Let’s begin!
Understanding the Secrets Behind the Success of DraftKings
DraftKings is one of the most downloaded and used sports betting apps on the market. There are other competitors to however, they are nowhere close to the numbers that DraftKings is pulling through. The name has grown multiple folds over the past few years and the reason behind its success is easy reach application, along with the best features that they have in store for the users. There are so many things that they offer, insights on gameplay, better trends, instant odds, and whatnot. Creating an app like DraftKings surely needs a lot of research and more importantly, it will need a team of experienced developers who can take up the task diligently and finish the development process efficiently. Some factors that contribute to the success of the app are –
- Very simple and user-friendly UI
- Live updates in Odds
- Live streaming available
- Multiple games support
- Multiple Currency Support
- Legitimate Licensing
- Use of Machine Learning
- Great implementation of Algorithm
- Well managed Revenue Model for Income
- Highly Anticipated Marketing Model
The application is made with some of the finest ingredients required to meet all the industry demands. No doubt the expert sports betting app developers give in their day and night in creating something as smooth and efficient as DraftKings. If you have the aim, you need to follow the same approach as these experts and for that, you need to focus on the model you follow for your fantasy sports app development process. Let us take a closer look at what is exactly meant by a model and what should be your approach?
Sports Betting App Development Model Based on DraftKings
As you might have got an idea, DraftKings is working on the simple principle, providing features without confusing the user and bulking the application interface. There are different development models that people use while working on such a development process however there is no specific model used for this application. The SDLC varies as per the requirements and thus the one that provides the best security is the one that people usually go for. As far as the approach is concerned, people try to maximize their usability by adding a lot of useful features.
Let us quickly take a look at how Drwaftking Works and try to understand what should be the model of approach that you should follow –
- Make the Application Gamified
– The best thing to learn from their application is the way they have integrated real-time dynamics in the field and how they aim to bring your experience alive. The gamification is a must-have, a leader board that is updated regularly, interactive points system, betting updates, etc. you name it and the gamification can help you achieve it. If you have used DraftKings for reference, the way the counters change and get updated simultaneously is something that adds to the experience of the user. - Blockchain Security With Multiple Payment Options
– When you are using a betting app, you have to stay double sure that your money and winning bonuses are intact. For that, you will need a solid payment gateway that holds all sorts of payment methods, from debit cards to online transactions, from Paypal to bitcoins. To integrate all of them, you need to ensure high-quality security parameters and blockchain can be of great assistance in that. You have to implement the final phase of security and privacy with the help of a reliable integrated system so that your users can rely on them. DraftKings supports direct betting on multiple sports of $1000 per bet which is not a small amount, to begin with.
- A Solid Earning Model
– You can become profitable when you have no source of income and if you start charging with your customers, then you might drive away a large pool of traffic coming your way. So what to do? You have to come up with a revenue model that helps you earn without bothering your user. If you look at DraftKing’s model, they have cracked the code to flawless earnings. Yes, they use a 3-way method to come up with the best deals such as –
1. A subscription model that is not too high. It helps the users understand the importance of the app and keeps the timepass out of it.
2. Commission & Fees model. There are professional guides who take care of the users while they place the bet and in that process, they earn commission fees.
3. Ads & Offers provide integrated space for monitory benefits. They are free to take sponsorships from similar field apps so that they earn and their users learn! Smart, isn’t it? - Elegant looks & Powerful Algorithm
– This is where development comes into the equation. You see if you have envisioned beating the industry pioneer like DraftKings. You have to come up with an app that has a better machine-learning algorithm for responsive behavior. The world is moving towards automation and that is why the only way to bring quality is to make your application smart. And by smart, we mean both appearance and work-wise. There are hardly any apps that have the perfect balance of both and hence you can take advantage and come up with great looks to find the best spot for your clients. - Multiple Sports Support With Integration
Betting is all about enjoying the thrill and if an individual has to keep peeking in the results, again and again, the chances of your app getting success to decline like anything. You have to bring real-time updates in your app along with support for multiple games. From NFL to hockey, every individual must be able to use your app and place a bet on their favorite sport> Not to forget, integrating multiple bet processes can enhance your use cases by a huge margin as people who play on multiple games can now manage all their bets and odds under one umbrella.
In Conclusion
These are the factors that can help you develop sports betting apps like DraftKings. Not to forget a solid vision and perfect team of sports betting app developers is required for you to finish the entire process. The working model of DraftKings is quite simple to follow if you have the perfect team behind you. If you are looking for a software development company, ensure that you grow faster with your model and reach the finest of experts without wasting any more time. Hurry, there are people desperately working to make things work, you do not want to be late!
Author’s Bio: Scarlett works with the editorial team of A3logics, a leading company offering mobile app development service. Exploring the latest technologies, reading about them, and writing her views have always been her passion. She seeks new opportunities to express her opinions, explore technological advancements, and document the details. You can always find her enjoying books or articles about varied topics or jotting down her ideas in a notebook.