Starting a Fantasy Sports Business and wondering whether to go for a ready product or opt for custom fantasy sports application development? This is a major challenge faced by anyone who plans to enter fantasy sports market.
It is basically a choice between “early to market to prove a concept” v/s “greater degree of control and something unique”. The important thing to keep in mind here is that products are not available for all use cases. If you have something unique, a product cannot answer that.
From our Technology Team: If your offering is unique, and the vendor is saying that they would “customize” their existing white label solution to make it as a unique offering for you, you can be assured that the code would become “unmaintainable” with several bugs and in the long run would become difficult to scale. This is because a white label solution can’t really be technically twisted to become something unique. There is a reason they are called white label.
Here is a detailed comparison of both the options.
|Ready Product Vs Custom Development|
|A Product is not completely customisable and thus could prevent you from offering your unique take on the idea and gameplay.||Relying on the custom development approach will give you complete freedom of customization based on your needs.|
|Technology / Scalability / Future updates|
|With the technological advancements, the shelf life of a product is greatly reduced. Any product made more then 2 years back can now be considered obsolete. The tech stack itself gets out dated and same goes for UX.||With a custom approach, you get an application built using the latest in technology, which is scalable, far more secure and can be upgraded without any impact the users. Same goes for UX. Any UI/UX upgrade in future can be done seamlessly.|
|Cross platform Integration|
|A product offer a lot of challenges when it comes to cross platform integration. In most cases the process of cross platform integration is exceptionally challenging while in some it simply is not possible.||A custom application on the other hand allows for seamless integration. It is far more adoptable.|
|Jurisdictions and compliances|
|In iGaming and Fantasy Sports Industry every country have their own jurisdictions and regulations that need to be followed right from the coding stage. For a Product, it is next to impossible to comply to all these regulations and can lead to major legal complications.||A custom application on the other hand will follow these rules right from day one and would be in FULL compliance as needed.|
|Multiple Currencies & Crypto Currencies|
|A product cannot sustain major changes in the payouts and financial transactions setup.||While a custom solution can be scaled to accommodate multiple payments options seamlessly.|
|New Markets with Multiple Languages|
|It becomes almost impossible to add new language if you are planning to enter a new market with foreign language.||A custom build fantasy sports platform can be upgraded to any point of time to include new languages.|
|No Uniqueness & Highly Competitive|
|A product allows you to reach the market faster but in a long run it reduce your chances to offer something unique and innovative. Also, be sure that there are multiple operators with same product in your market.||Custom development allows you to be innovative and build your application with features and functionalise that differentiates you from other.|
|Yes, purchasing a product is comparably cheaper but it comes with a handful of business challenges.||This could be a costly affair but on a longer run, it makes complete sense to go with a custom based approach. Then there are IT firms who offer very cost-efficient fantasy sports web design & development services.|
|You don’t own the intellectual property when you purchase a ready product.||You have complete ownership of the application right from designs to source code to DB architecture and its your intellectual property.|
Techracers is a team of business consultants and technology experts who specialize in custom fantasy sports website design and development. With more than 6 years of experience and dedicated team working only on fantasy sports projects, our deliveries are super engaging, scalable and revenue driven.
And most important, you own the intellectual property of your project. No revenue shares! & No Equity Share!