What does â€śValereâ€ť mean?
The Latin verb valere, meaning â€śbe strongâ€ť or â€śbe well,â€ť was extended in meaning to refer to worth, in both practical and aesthetic terms.
Cricket is the second most popular sport in the world with over 2.5 Billion hardcore dedicated fans. Especially in regions like Asia, Australia and UK, it is not just a sport, but almost a religion. Itâ€™s a cosmo-industry full of glamour, corporate, media, technology and of course, betting.Â
People like to place bids on their favorite players before the match. According to Research And Markets, the global sports gambling market was worth approximately US$85.047 billion in 2019. This figure is expected to grow exponentially, given the notable inclination of many countriesâ€™ governments towards the legalization of sports betting, especially in Europe.Â
Dream11 is a widely popular fantasy sports manager app which has managed to give a modern and digital edge to the love of cricket and other sports. It allows you to indulge in top tier matches in real time and assemble your own teams online with real players.Â
The virtual teams are evaluated based on the actual performance of the players in the ongoing matches, and the performance is further converted into gaming points which are updated on the points-roster and the leaderboard. You can compete virtually with Dream11 players across the country and indulge with your friends and family also in free and paid contests.
Founded in 2008, Dream11â€™s fantasy sports app was launched in 2012. Number of users quickly rose to a million in just two years of launch. It doubled to 2 million by 2016, and by 2018, its popularity grew multifold and, with over 45 million active users.
2019 was an exceptionally amazing year for Dream11 - it not only became a unicorn (a company which isÂ valued over 1 billion) but also broke the Guinness World Record for hosting the 'largest online fantasy cricket match' during the finale of IPL. This feat was achieved when 4.37 million Virtual sports managers on Dream11 created 10 million fantasy teams for the match between Mumbai Indians and Chennai Super Kings.Â
In 2020, Dream11 became the Title Sponsor of the most ambitious sports event in Indian - the Indian Premier League, winning the bid from Vivo for $30 million. Dream11 has raised more than $325 million up till now, and the parent company Dream Sports is currently valued more than $2.5 billion. It has crossed the benchmark of 100 million active users now.Â
The skyrocketing growth of Dream11 certainly draws more attention towards the overall fantasy sports industry arc and what itâ€™s like to make a Dream11 app.Â
According to an IFSG-AC Neilson report, every 2 out of 3, i.e. 67 percent of the 180 million online cricket fans in India are likely to invest some part of their day in fantasy sports. According to DevTechnosys, 89% of the users of any sports fantasy app are likely to participate in bidding at least once a month.Â
The average engagement of any user with a sports fantasy app is approximately 4 minutes per day and is considered very high in the app market. Rewards, bonus points and other strategies of instant gratification keep a user hooked and they keep coming back for more.Â
The Global market of fantasy sports is expected to cross $43,000 million by the year 2026. From a business point-of-view, this is a lucrative industry to invest in and has remarkable cost-to-benefit ratio projection.
So, how to make an app like dream11? Letâ€™s talk about all the features required for it -Â
Â For Admin login in sports fantasy app, this is how the features would look like -
If you want to make a Dream11 app, itâ€™s important to thoroughly understand its business model.Â
Dream11 is essentially based on a freemium model, but its main source of income is the initial fee that any user has to pay to enter a tournament. This entry fee is usually placed in the range of â‚ą30-60 ($0.4-0.8). A low threshold of entry that assures a 50% probability of winning sounds very lucrative to the users and thatâ€™s why most people give in to it.Â
They also charge a user with 20% of the total prize when one wins the small leagues or the grand leagues. This commission is fixed for all contests within the app. Competitors like MyTeam11 and Halaplay have set the commission comparatively far lower, but itâ€™s nevertheless a fairly reliable source of revenue generation.Â Â
Whenever a contest is over and winners are announced, cash prizes are distributed from the money gathered from the collective entry fees of all participants. But Dream11 doesnâ€™t distribute all the money from the pool, they always keep 15% of the total amount to themselves and call it â€śplatform feeâ€ť. This also turns out to be a good revenue generator.Â
So, through all these sources and possibilities of other innovative revenue channels, the cost of making an app like Dream11 is easy to break even.
In the US, an average developer takes $100-$250 as an hourly fee. An app like Dream11 would take approximately 200 hours to develop including UI/UX, backend, quality assurance and final launch period.Â
So according to this, the approximate cost of making an app like Dream11 would start from $20000.Â
You can know more about the breakdown of the cost of an app like Dream 11 and other kinds of apps too on our Cost Calculator Tool. It is a reliable tool that was developed by the in-house team of Valere. It allows you to process the approximate cost of any app based on a standard rubric determined by industry experts.Â
All you need to do is pick your requirements - iOS or android, size of the app, social or personal service, and other features - the cost calculator tool will run it through quick formulas and give you an estimate of the cost of your app instantly. Some of the factors that the tool considers important in determining the value of an app include UI/UX design, security, design and theme, number of platforms/devices, third party integrations, level of complexity and customized add-on features.
Our cost calculator tool is trusted by entrepreneurs and tech developers across the globe. It is a practical, transparent and straightforward solution to the initial crisis of anyone taking their first step in the industry. It also provides a better sense of security, as any hidden costs of making an app are revealed in the first step itself.Â
So, hop on to the cost calculator tool now, or contact us directly to get to know the basics of the costs of making an app like Dream11!Â Our team would love to work together with you to make a Dream11 app and be a part of this multi-billion-dollar industry.Â
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