How can I monetize a live sports streaming website and app?

There are 3 major ways you can monetize your sports live streaming website.

Ad monetization
Pay Per View
User data mining

Ad monetization is a form of content gating. It works like this.

Pre-roll - Ads run before the stream begins
Mid-roll - Ads that run alongside the live stream
Post-roll - Ads that run after the event

All these ads are cash cows. You can collect money from the advertisers for hosting their ads on your videos. Since they are live sports action, they are obvious to enjoy high traffic volumes. Show your viewership analytics as proof of viewership.

If you don't want to take the ads route, opt for pay per view. Your viewers can pay to watch the session alone and nothing more. They get uninterrupted and ad-free sports live streaming in return for a premium rate.

User data mining - I am not sure if this can be called a business model. But, the user credentials that your website collects when users sign up to watch the live stream can be sold to third parties for a sum. However, this might have legal implications. You need to ensure that you are informing your viewers clearly and also that it is legally permitted in your State or legal jurisdiction. End of the day, don’t breach user privacy.

I'd suggest you try Contus Vplay, is an intelligent video on demand solution comes pre-equipped with facilities for monetization in multiple modes. Pay per view, ad integration, subscription-based live streaming to cite a few.

The ultimate goal of any business apart from being useful to the user is making a profit. Live streaming your events and productions to a worldwide audience can create real revenue for your brand.

You can make revenue through many strategies. Some are below..

Premium account
Pay per view model
Ads with Google double click for publishers
Donation
Paid app

A few seconds of video or several full-length feature films, you can make your video work and earn the profit.

Vplayed is a video streaming solution to build your million dollar video streaming website and scale it without any limits. Vplayed is fully equipped with highly advanced features that best befitting to build an online video streaming platform that streams flawlessly across the platforms. Furthermore, Vplayed solution is built with headway technologies enabling the user to explore the video content to the right people at the right time which helps in monetizing the video content over millions of users.