Even though the modern concept fantasy sports is a relatively novel idea that emerged but a few years ago due to the development of the internet, it is already a million dollar industry, and it’s only getting larger. It is an excellent way for fans to involve themselves in the sport they love, where they can bet their money on real-life players by building a team of virtual ones, and earn rewards based on their actual real-life performance.
Fantasy sports betting usually work on a points-based system. A player’s virtual team gains points based on the actual performance of their players in real life. It is based on these points that total earnings are calculated. These points can be exchanged for other rewards and benefits, like the number of games they can participate in, players they have access to, etc.
Every day, individuals all over the world spend thousands of dollars on fantasy sports betting. Like with any wager, a financial reward to the winner is a must. Based on performance, players are paid every other day, weekly or monthly, or sometimes at the end of a season.
The first prize of this year’s Fantasy Premier League Championship developed by EA sports includes a long list of rewards, from tickets to football matches, to all-expense paid trip to the UK, a luxury watch and a goodie bag of official merch, and all of these are some of the few things on a desirable list. They have an impressive set of prizes for the 2nd and 3rd place spots as well and give out monthly and weekly rewards as well.
While not every fantasy sports website can afford to send their winners on a week-long trip to England, providing their users with rewards other than money is an excellent way to go about things. It’s safe to say that the people who partake in fantasy sports are ardent fans of the game in the material world as well, so they would certainly appreciate a small goodie bag full of their favorite team’s (or favorite fantasy sports website’s) merchandise. The Premier League fantasy game mentioned above includes everything from water bottles to pens in theirs. A nice gift basket with practical items goes a long way.
Loyalty programs in both the online and tangible world. Almost every consumer-based business utilizes some loyalty program that rewards their most faithful customers – everything from access to exclusive content, betting tips and odds, to extra points.
Badges act as a testament to a player’s success. They earn one after they reach a certain milestone. These badges act like something they can display to show others just how far they come. They also act as a motivator, encouraging the individual to keep at it, so that they can collect more.