FSTA Winter Business Conference Knowledge

Much was learned at the FSTA Winter Business Conference at the Palms, Las Vegas.  Over the next few days I will profile a new fantasy sports company in detail each day.  For now I will just share some of the knowledge I learned about doing business in the fantasy sports world.

User Generated Content Panel – Mike Beacom, Fantasy Sports Writers Association

*Videos give a personality (only 10% of Fantasy Sports sites do)

*Twitter is the new news format

*Use messages boards and forums to attract user generated content and hire writers

*Podcasts, they are much better business ideas unless you have really good writers

* Freelance is a good idea, pay $20 an article

* Buy a server (Cloud is only good for smaller amounts of data, worthwhile investment)

Fantasy 101 – Obtaining Credit Processing

*Use the Hancock company for credit processing (they have no problems with fantasy football)

*Move your money after you get it (there was a case of a company causing problems due to its thought of fantasy football being gambling)

FSTA Industry Recognition Awards

*Fantasy Sports Insurance won the innovation award (meaning fantasy sports insurance is important and people really do use it)

Protecting Your Assets – Glenn Colton, Legal Update

*No matter what happens if you announce the prize you have to award it

*Be honest with banks (bank fraud is really bad)

The Legalities of Fantasy Sports – Glenn Colton, Legal Update

User Generated Content

*Will make your site sticky but you must make it clear which parts are user generated content so if something illegal goes up you can use the good faith defense since you are not the speaker and can’t always see everything so you couldn’t have blocked it  

*Have an Acceptable Use Policy

*If you feature something you are liable since you have to have known about it since you featured it

 *Use most recent instead so you won’t be liable since it then looks automated

Programming for Mobile Devices – Ted Kasten of Advanced Sports Media

*Most fantasy sports players play via their browser on their smart phone not apps so there is huge growth potential there

*Application use is going up via touch screen phones as well

* 75% of the game apps are free

* Don’t put your whole website on your app

*Really target apps

*Only use the most useful stuff on app

*Simply app down to its core

*Mock Draft should take 5 minutes not 45 minutes

*No need for extra settings, analytics, too many stats, making league rules

*Have only 3 Competitions levels

*Apple takes 2-4 weeks for the submission process (they find minor errors and delay the process)

*Advanced Sports Media got 11,000 downloads in 10 days

*Even though APM made $1,200 after a few days they decided to give it away for free since this way people could experience their app this year then might buy next year’s version, so they traded dollars for exposure

*Have minimum input especially via text

*Development companies wanted $30,000-$50,000 to make a fantasy football game for the iphone, but it did range to $140,000,

*Find developer with iphone experience

*Provide email support for your app

*Android operating system is a totally different system so you have to develop a different app

* Support all e-mails in order to improve rankings

*In order to improve rankings you need promotions, iterate, focus and simplify

*Promote the day the app launches on itunes

Farhan Latif writes exclusively for CloudFantasy.  Email him here.

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