Global Fantasy Sports Market Insights Forecasts to 2032
- The Global Fantasy Sports Market Size was valued at USD 25.87 billion in 2022.
- The Market is growing at a CAGR of 13.2% from 2022 to 2032
- The Worldwide Fantasy Sports Market Size is expected to reach USD 89.92 billion by 2032
- Europe is expected to grow the fastest during the forecast period
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The Global Fantasy Sports Market size is anticipated to exceed USD 89.92 billion by 2032, growing at a CAGR of 13.2% from 2022 to 2032. The increasing affordability of high-speed internet services, as well as the increased penetration of smartphones, are driving market growth. The growing viewership of sports such as cricket, football, and others is providing exposure to these events on the fantasy sports platform, which assists organizers in reshaping the appetite and viewership of sports for fans in each country. Increasing game-streaming capabilities, as well as the availability of sports across traditional and next-generation platforms, improve user engagement with betting and rotisserie platforms.
Fantasy sports are online game platforms in which players select and manage virtual teams made up of real-life professional athletes. Throughout a sports league or season, users compete against each other's fantasy teams. Users with the highest point totals win money based on professional athletes' actual performance. Adopting new technologies for better and more efficient operations is critical in the rapidly evolving online gaming industry. The introduction of secure payment methods, a user-friendly interface, blockchain-based apps, and fantasy chatbots has resulted in significant increases in revenue creation, customer satisfaction, and operational efficiency in the fantasy sports sector. It is expected that the inclusion of such technologies will continue to provide appealing opportunities for market participants to better manage users and core operations. Sports Tech is projected to provide opportunities for highly skilled software engineers, data scientists, and cyber security professionals. It will almost certainly increase sports viewership, sponsorships, and participation, all of which will have a direct impact on sports development. As a result, sports fan engagement platforms such as Fantasy Sports are changing how fans interact with live sporting events.
This research report categorizes the market for the global fantasy sports market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the fantasy sports market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the fantasy sports market.
Global Fantasy Sports Market Report Coverage
|Market Size in 2022:||USD 25.87 Billion|
|Forecast Period:||2022 - 2032|
|Forecast Period 2022 - 2032 CAGR:||13.2%|
|2032 Value Projection:||USD 89.92 Billion|
|Historical Data for:||2018 - 2021|
|No. of Pages:||210|
|Tables, Charts & Figures:||133|
|Segments covered:||By Sports Type, By Platform, By Demographics, By Region|
|Companies Covered:||Dream Sports Group, CBS Sports Digital, Realtime Fantasy Sports Inc., Flutter Entertainment plc, Vauntek Inc. (Fantrax), DraftKings, Pure Win (Sweetspot N.V.), FanDuel, FantasyPros.com, MY11Circle, FANTACALCIO (Quandronica Srl), RotoWire (GDC Media Limited), NBC Sports Edge (NBC Sports Group), MyFantasyLeague (Sideline Software Inc.), Office Football Pool (OFP Hosting Inc.), Others|
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The growing youth population contributes to the expansion of the fantasy sports market. The current generation's increasing reliance on smartphones and, by extension, social media and fantasy sports has enabled them to connect and engage in more enjoyable conversations and competitions with their peers. According to the World Youth Report (2020), there are 1.2 billion young people between the ages of 15 and 24, accounting for 16% of the global population. The world's young population is expected to grow by 7% to 1.3 billion by 2030. As a result, the growing youth population drives the growth of the fantasy sports market.
Artificial intelligence and machine learning are examples of new technological advancements used in major fantasy leagues such as the fantasy premier league for football, where platform providers are reinforcing new techniques that help users evaluate and generate point predictions for the team as well as individual players. Users build their virtual teams based on their performance in the actual game. Along with AI and ML, these platforms use mixed-integer programming to optimize player transfers over long periods of time.
Furthermore, the legalization of sports betting in various nations is fueling market growth, as many sports platforms have integrated betting into their platforms. As a sponsor of national and regional teams, the platform provider engages in a variety of promotional activities. DraftKings is an official fantasy partner of NASCAR and a sports betting provider for a variety of events including the NFL, NBA, MLB, NHL, PGA Tour, and UFC.
Fantasy sports are frequently confused with illegal sports betting, despite the fact that fantasy sports are primarily skill-based. However, fantasy sports are always subject to legal scrutiny under various gambling laws in different countries. Fantasy sports are frequently legalized under existing gaming and skill game laws. Though fantasy sports are legal in the United States, states such as Hawaii, Arizona, Alabama, Idaho, Iowa, Montana, Louisiana, Nevada, and Washington State have prohibited the use of one or more fantasy sports platforms such as DraftKings, FanDuel, Yahoo, Fantasy Draft, and others.
The Global Fantasy Sports Market share is classified into sports type, platform, and demographics.
- The football segment accounted for the largest share of the global fantasy sports market in 2022.
The global fantasy sports market is categorized by sports type into football, baseball, and others. Among these, the football segment accounted for the largest share of the global fantasy sports market in 2022. The standard fantasy football scoring system is a well-respected baseline of statistic/point-value pairings designed to encourage balance across the various fantasy positions. The widespread popularity of fantasy football has increased, as has the highly addictive nature of such platforms and the relative ease of obtaining information about a manager's team. As a result, fantasy football dominates the global fantasy sports market.
- The mobile application segment is expected to hold the largest share of the global fantasy sports market during the forecast period.
Based on the platform, the global fantasy sports market is divided into website and mobile application. Among these, the mobile application segment is expected to hold the largest share of the global fantasy sports market during the forecast period. Applications typically perform actions 1.5 times faster than mobile websites. Furthermore, customizations such as drag, pinch, hold, tap, double tap, and more perform a specific activity that improves user-friendliness. Furthermore, the widespread use of mobile phones, combined with rapid market expansion, has resulted in the release of numerous mobile applications for various operating systems, namely Android and IoS. Engaged players use apps to improve their processes and increase customer accessibility, resulting in increased customer engagement.
- The 25 to 40 years segment is expected to hold the largest share of the global fantasy sports market during the forecast period.
Based on the demographics, the global fantasy sports market is divided into 25 to 40 years and under 25 years. Among these, the 25 to 40 years segment is expected to hold the largest share of the global fantasy sports market during the forecast period. Because of the low entry costs and the higher disposable income available for entertainment, this age group is willing to enter pay-to-participate contests. The average age of a user who participates in a fantasy league or any fantasy game is 34.4 years, with more than half of the users working full-time. The evolution of smart mobile devices, as well as the blurring of the lines between gambling and gaming, has accelerated the popularity of fantasy sports among millennials. Furthermore, millennials expect simple interfaces that are responsive and have low friction. Furthermore, they favor alternative payment methods like e-wallets or cryptocurrency. As a result, industry participants are collaborating with digital wallet service providers to improve the consumer experience and provide seamless transaction facilities to the players.
Regional Segment Analysis of the Global Fantasy Sports Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
North America is anticipated to hold the largest share of the global fantasy sports market over the predicted timeframe.
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North America is projected to hold the largest share of the global fantasy sports market over the predicted years. In terms of macroeconomic factors, the United States has the world's largest economy in terms of GDP. North America's market remains slightly consolidated, with major players such as FanDuel and DraftKings dominating the region. The expansion of the fantasy sports market has attracted prominent media players in the region. Large media companies are working with platforms to improve promotions and advertisements. Significant capital investments from a number of investment firms, including sports teams and broadcasters, as well as aggressive marketing campaigns emphasizing large cash prizes, have contributed to the region's robust market growth.
Europe is expected to grow at the fastest pace in the global fantasy sports market during the forecast period. New players have emerged in the Europe region, particularly on fantasy cricket and fantasy football platforms. New players with broader product offerings, interactive applications, and large cash prizes have increased the region's interest in contests on fantasy sports platforms. Furthermore, European fantasy sports operators are now collaborating with local sports betting companies in order to increase their market share and target audience.
The report offers the appropriate analysis of the key organizations/companies involved within the global fantasy sports along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- Dream Sports Group
- CBS Sports Digital
- Realtime Fantasy Sports Inc.
- Flutter Entertainment plc
- Vauntek Inc. (Fantrax)
- Pure Win (Sweetspot N.V.)
- FANTACALCIO (Quandronica Srl)
- RotoWire (GDC Media Limited)
- NBC Sports Edge (NBC Sports Group)
- MyFantasyLeague (Sideline Software Inc.)
- Office Football Pool (OFP Hosting Inc.)
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- In January 2023, Fantasy Akhada, a GMR Group affiliate, has announced plans to sell a significant stake to GMR Sports for an estimated USD 160-175 million (INR 1,300-1,400 Crore). The transaction is expected to be completed in stages, with GMR displacing some early investors in the subsequent rounds.
- In January 2023, In Ohio, FanDuel introduced its mobile sports betting sportsbook. They also announced the opening of their retail sportsbook at Belterra Park in Cincinnati. This launch is expected to help the company provide the best betting experience possible to its Ohio users.
- In March 2023, DraftKings Inc. disclosed plans to open its renowned online sportsbook in Massachusetts, subject to licensing and regulatory approval. DraftKings, based in Boston, will make Massachusetts the 21st state in the union to offer an online sportsbook. In addition to providing Massachusetts residents with access to various bet types such as same-game parlays, player props, unique odds, boost options, and more, DraftKings will also provide attractive and exclusive bonuses to clients in the state.
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Fantasy Sports Market based on the below-mentioned segments:
Global Fantasy Sports Market, By Sports Type
Global Fantasy Sports Market, By Platform
- Mobile Application
Global Fantasy Sports Market, By Demographics
- 25 To 40 Years
- Under 25 Years
Global Fantasy Sports Market, By Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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