The fantasy sports market size was valued at $18.6 billion in 2019, and is expected to reach $48.6 billion by 2027, registering a CAGR of 13.9% from 2021 to 2027. The football segment led in terms of the fantasy sports market share in 2019 and is expected to retain its dominance throughout the forecast period.
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Fantasy sports are online gaming platforms where participants manage and draft virtual teams of real professional sports players. Users compete against the fantasy teams of each other people, over an entire sports league or season. User that scores maximum points wins money based on the performance of the real professional sports players.
The fantasy sports market has seen tremendous growth in the past few years. The top most influential factor of rapid market expansion is the proliferation of digital infrastructure in the developing region. The number of internet subscribers in India is estimated to reach 639 million by the end of December 2020 from 560 million in September 2018. Furthermore, average data usage per subscriber has increased significantly owing to availability of affordable smartphones coupled with rapidly falling data prices across the country. This growth in digital infrastructure along with the availability of high speed internet at affordable prices helps in driving the growth of the fantasy sports market in the region.
Players operating in the fantasy sports market offer complete transparency to customers in terms of their monetary transactions. All financial transactions on sports fantasy platforms are secured with verified payment gateways, thus building greater confidence among users. Furthermore, the platforms allow greater transparency by allowing users to view teams created by their competitors and disclosing the amount of money at the start of the game and also revealing the money to be won by different rank holders in a contest. This result in transparent competition between users.
The fantasy sports are often confused with illegal sports betting, though fantasy sports are predominantly skill-based. However, the fantasy sports always remains in legal scrutiny of various gambling laws across the countries. The legality of fantasy sports are often based on existing gaming laws and skill game laws. Though fantasy sports are legal; however, states in the U.S. such as Arizona, Hawaii, Alabama, Iowa, Idaho, Montana, Louisiana, Nevada and Washington State have banned one or more fantasy sports platforms such as DraftKings, Yahoo, FanDuel, Fantasy Draft and others. Furthermore, laws related to sports fantasy platforms are highly ambiguous in countries like Indonesia, Japan, Macau, Malaysia, Pakistan, Taiwan, and Vietnam. Absence of regulatory bodies along with ambiguous laws remains a major challenge for the engaged stakeholders in the sports fantasy industry.
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The global fantasy sports market is being impacted profoundly amidst the outbreak of coronavirus. The outbreak that started in China has resulted in lockdown and ceasing of sports activities across the world. Furthermore, stringent social distancing norms, closures of sports complexes and public fear for contraction of coronavirus have negatively impacted the sports activities. Absence of major sports leagues have resulted in huge turmoil for the engaged stakeholders, however the disruption is expected to remain short.
Segment review
The fantasy sports market is segmented into sports type, platform, demographics and region. By sports type, the global market is classified into football, baseball, basketball, hockey, cricket, and others. By platform, it is bifurcated into website, and mobile application. By demographics, the market is divided into Under 25 Years, 25 to 40 Years and Above 40 Years. By region, the market is analyzed across North
By sports type, the global fantasy sports market is classified into football, baseball, basketball, hockey, cricket, and others. The football segment accounts for the major fantasy sports market share; however, the fantasy cricket segment is expected to grow with the highest CAGR during the analysis period owing to growing popularity of the sports especially in the Asia-Pacific region.
By demographics, the fantasy sports market is divided into under 25 years, 25 to 40 years and above 40 years. The 25 to 40 years segment leads in terms of market share; however, the under 25 years segment is expected to grow with higher CAGR during the forecast period.
The report focuses on the fantasy sports market growth prospects, restraints, and opportunities of the global market. The market is evaluated based on the user expenditure on fantasy sports platforms. The study provides Porter’s five forces analysis to understand the impact of various factors such as competitive intensity of competitors, bargaining power of suppliers, threat of substitutes, threat of new entrants, and bargaining power of buyers of the fantasy sports industry.
Some of the key players profiled in fantasy sports market analysis are Dream Sports, DraftKings Inc., fantacalcio, Fanduel (Flutter Entertainment), Rotoworld, FantasyPros, Rotowire, Fantrax, Sportech Inc., and NFL Fantasy.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging fantasy sports market trends and opportunities.
- The report provides detailed qualitative and quantitative analysis of the current trends and future estimations that help evaluate the prevailing fantasy sports market opportunities in the market.
- The fantasy sports market forecast is offered along with information related to key drivers, restraints, and opportunities.
- The market analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
- The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.
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