Fantasy 11 Game
Startup idea would be “A Fantasy Cricket Team Application/Website similar to Dream 11” !!!!
Why Fans are attracted to Fantasy Cricket apps like Dream 11 ?
The knowledge of the demand factor is helpful if you want to succeed in any business. And when it comes to the fantasy sports segment be it PlayStation, video games like FIFA, PES, etc. or those like Dream11 the thing is people want to be in control. It is pretty much like; we feel we are the hero in every movie we watch; it is a psychological factor. That’s why we feel concerned about it.
Similarly, fans feel themselves leading the game when their favourite team wins or players score. They would hence give anything to have a near similar experience. They realize their jubilation through video games, fantasy apps, etc. So the philosophical guide for a Dream11 app developer is this — “design the app in such a way that it gives more power to players and make it as realistic as possible.”
Dream11 has cleared the path for the fantasy sports development segment into the most significant fan market for all kinds of sports in the world, i.e. India.
About The company/Product (Business Idea):
While watching the cricket match , nobody earns even a penny. If had there been an app where people with knowledge of cricket would make their dream team of 11 members out of the total 22 members and if the players of their team performed in the particular match , they would win some price money depending upon the performance of each player in their fantasy team and the amount they invested in their team.
Market Demand :
India is a country where people love cricket and consider it as their religion but the true fact is that BETTING is illegal in our country . A number of bookies get arrested during the season of IPL and even International Matches where the cops arrest them for illegal Betting. So a Fantasy 11 Application would be a definite choice for such type of people who have a great knowledge of cricket and are fond of betting . For your information , I may inform you that Playing Fantasy Games in India is completely Legal . So the users will definitely LOVE the application and the concept .
Relevant Products in the Market :
Most of the fantasy gaming apps charge 10% to 20% as the platform sustainment fees . The current best one is Dream 11 which is charging about 5% Platform Fee . But this app will only charge 2% as the platform fee which is quiet fiesible . India is surely rising on a ladder of users and followers of fantasy sports. About 67% of the 18 crore cricket fans in India are familiar with the concept of fantasy sports. There are more than 7 million people connected to the industry in the recent scenario. The figure doesn’t just contain cricket lovers.
Target Country :
The target customers for our application would be the people who are interested in Cricket and consider Cricket as their religion and have a great knowledge of Cricket . The one who can predict the outcome of the particular match before the toss just by looking at the Pitch condition and the squads of both the teams . They just have to predict the best 11 including both the teams . The requirement from the Government and the developer side is that the age of the person must be atleast 18 years . User below the age of 18 years is illegal and will not be allowed to create an ID . It will be mandatory for the user to link their Aadhar Card and PAN Card to the Application and then they will be allowed to select their Dream Team .
Required Knowledge or Expertise :
Here’s an overview of the steps the pipeline would take for “Live-Mode”, or the process that runs every day to enter fantasy leagues. “Simulation-Mode” (backtesting) is simply a reorganization and looping of some of these steps — we’ll get into that later.
- Stats Retrieval: We start by retrieving historical data that we will use as the basis for making per-player predictions. As well as auxiliary data such as betting lines and predicted starting lineups.
- Feature Creation: Using these stats, we construct derived Features that will be the basis of the learning algorithm.
- Model Fit: Using these derived features, we fit a model that creates a mapping from Features to FantasyPoints.
- Roster Retrieval: Retrieve the eligible players, injury status, matchups, and, most importantly, cost-per-player (salaries) for the day.
- Prediction Feature Creation: Apply the same process we use to create Features to transform roster data into the same exact Features we used to create the player model.
- Prediction: Using the model we created earlier and the PredictionFeatures, we make fantasy point predictions.
- Team Selection: We run a linear-optimization (maximize predicted fantasy points subject to salary and position constraints) to produce the team we will enter.
In the following sections, I’ll go into some (hopefully) interesting details on specific steps in the pipeline.
Feature Creation
In an ideal world, we could give a learning algorithm raw data, and out would pop the information we want (fantasy point predictions). This is the current state-of-the-art in many domains such as image recognition and natural language processing. Although this may very well be possible for this problem, I took the approach of creating handcrafted features that “manually” extract higher order information ahead of time, rather than having the learning algorithm do this.
To create these features, I built a tool called the “Feature Framework” that allows our features to be expressed as a Directed Acyclic Graph (DAG). Note that this is not my novel idea and is a common paradigm in research-driven trading. There are two main advantages of this approach:
- We don’t have to repeat computation for multiple features that rely on the same or overlapping sub-features.
- The framework handles wiring features together — we don’t have to explicitly say that FantasyPoints needs to be computed before AvgFantasyPoints.
DAG representation of the computation (1 + 2) * 4 = 12
Case Study: Defense vs Position
We define “Defense vs Position” (DVP) as the historical points allowed by an opponent in a given position over a pre-defined time horizon. This can be interesting in NBA DFS if an opponent typically allows an outsized amount of points against a given position (imagine the Horford v. Jokic matchup).
Product Pricing :
There will be no definite amount for Making the fantasy 11 team . We will create an option for the players where they can choose their budget and we will recommend the Amount which they can invest in their Fantasy 11 to provide them the risk management .
Risk Analysis :
We all know that Without Risk, there is no gain . If the person has a greater risk taking ability , he can achieve bigger in his life . Without proper advertisement , people might not get attracted towards the app and the time and the fund of the Developer might go waste .
Milestone and Timeline :
The launching of the application might take a couple of months . The milestone for the Developer and the company would be to take our company to a minimum of 10M users till the end of next year .
Thank you .
Have a Good day
- Utkarsh Mishra