Fantasy Sports Market

The fantasy sports market, valued at $18.6 billion in 2019, is projected to reach $48.6 billion by 2030, demonstrating a robust CAGR of 13.9% from 2023 to 2030. In 2019, the football segment secured the leading position in terms of market share within the fantasy sports domain and is expected to maintain its dominance throughout the forecast period.

Fantasy sports encompass online gaming platforms where participants assume the roles of managers, assembling and drafting virtual teams comprising real professional sports players. These users engage in competition against the fantasy teams created by other individuals, spanning entire sports leagues or seasons. Monetary prizes are awarded to users based on the actual performance of professional athletes, with the user achieving the highest points emerging as the financial victor.

The fantasy sports market has experienced substantial expansion in recent years, primarily fueled by the widespread proliferation of digital infrastructure, particularly in developing regions. Notably, India has seen remarkable growth in internet subscribers, estimated to reach 639 million by December 2020, up from 560 million in September 2018. This surge is attributed to the availability of affordable smartphones coupled with rapidly decreasing data prices across the nation. The combination of robust digital infrastructure and accessible high-speed internet at reasonable rates has been instrumental in propelling the growth of the fantasy sports market in the region.

Participants in the fantasy sports market benefit from complete transparency concerning their financial transactions. All monetary dealings on sports fantasy platforms are safeguarded by verified payment gateways, instilling heightened confidence among users. Moreover, these platforms enhance transparency by permitting users to view their competitors' teams, divulging contest entry fees, and disclosing the prize money allocated to different rank holders in a contest. This fosters transparent competition among users. High levels of transparency, equitable gaming policies, and stringent regulations, combined with secure payment gateways, bolster user confidence within the fantasy sports platform user community.

Fantasy sports are at times confused with illegal sports betting, even though they are primarily skill-based. Nonetheless, fantasy sports consistently remain under legal scrutiny across various jurisdictions governed by varying gambling laws. The legality of fantasy sports frequently hinges on preexisting gaming laws and skill game regulations. While fantasy sports are deemed legal in many regions, certain U.S. states, including Arizona, Hawaii, Alabama, Iowa, Idaho, Montana, Louisiana, Nevada, and Washington State, have imposed bans on one or more fantasy sports platforms, such as DraftKings, Yahoo, FanDuel, Fantasy Draft, and others.

Furthermore, laws pertaining to sports fantasy platforms remain notably ambiguous in countries like Indonesia, Japan, Macau, Malaysia, Pakistan, Taiwan, and Vietnam. The absence of regulatory bodies, coupled with unclear legal frameworks, presents a significant challenge for stakeholders engaged in the sports fantasy industry.

The global fantasy sports market has been significantly impacted by the outbreak of the coronavirus. The pandemic, originating in China, led to widespread lockdowns and the cessation of sports activities worldwide. Additionally, stringent social distancing measures, the closure of sports complexes, and public concerns about contracting the virus adversely affected sports engagement. The absence of major sports leagues resulted in significant disruption for stakeholders. Nevertheless, this disruption is expected to be temporary. As sports activities and leagues, including the IPL and the French Open, gradually resume, and more sporting events are anticipated in the upcoming months, the sports fantasy market is likely to rebound during the final quarter of the year.

Segment Analysis:

The fantasy sports market exhibits segmentation based on sports type, platform, demographics, and region. These key segments are defined as follows:

By Sports Type:

Within the global fantasy sports market, the sports types are categorized into football, baseball, basketball, hockey, cricket, and others. Football currently commands a significant share of the fantasy sports market; however, the fantasy cricket segment is anticipated to exhibit the highest Compound Annual Growth Rate (CAGR) during the analytical period. This growth is attributed to the increasing popularity of cricket, particularly in the Asia-Pacific region.

By Platform:

In terms of platform, the global fantasy sports market is divided into websites and mobile applications. The mobile application segment holds a dominant market share and is projected to expand its market presence in the forthcoming years.

By Demographics:

The fantasy sports market is segmented by demographics, classifying participants into three categories: under 25 years, 25 to 40 years, and above 40 years. The 25 to 40 years demographic segment presently leads in terms of market share. However, the under 25 years segment is expected to achieve a higher Compound Annual Growth Rate (CAGR) during the forecast period.

The report offers a comprehensive examination of the fantasy sports market's growth potential, constraints, and opportunities on a global scale. It assesses the market based on user expenditures on fantasy sports platforms and employs Porter's Five Forces analysis to gauge the influence of factors such as competitive rivalry, supplier bargaining power, threat of substitutes, the risk of new entrants, and buyer bargaining power within the fantasy sports industry.

Key market players highlighted in the fantasy sports market analysis include Dream Sports, DraftKings Inc., fantacalcio, Fanduel (Flutter Entertainment), Rotoworld, FantasyPros, Rotowire, Fantrax, Sportech Inc., and NFL Fantasy.

Key Benefits For Stakeholders

Comprehensive Trend Analysis: The report offers a thorough examination of both current and emerging trends within the fantasy sports market, providing stakeholders with valuable insights into the industry's dynamics.

Qualitative and Quantitative Insights: Detailed qualitative and quantitative analyses of present trends and future projections are presented, aiding in the assessment of existing opportunities within the fantasy sports market.

Precise Market Forecast: The report includes a fantasy sports market forecast, complete with information pertaining to key drivers, impediments, and opportunities, enabling stakeholders to make informed decisions.

Competitive Landscape Analysis: Market analysis is performed by meticulously tracking key product positioning and monitoring the activities of top competitors, thus providing stakeholders with a comprehensive overview of the competitive landscape.

Qualitative Growth Insights: The report offers extensive qualitative insights into potential and niche segments or regions that demonstrate promising growth prospects, allowing stakeholders to explore new avenues for expansion.

Fantasy Sports Market Report Highlights

By Sports Type

• Football
• Baseball
• Basket Ball
• Hockey
• Cricket
• Others

By Platform

• Website
• Mobile Application

By Demographics

• UNDER 25 YEARS
• 25 - 40 YEARS
• ABOVE 40 YEARS

By Region

• NORTH AMERICA  (US, CANADA, MEXICO)
• EUROPE  (UK, GERMANY, RUSSIA, REST OF EUROPE)
• REST OF WORLD  (INDIA, AUSTRALIA, BRAZIL, AFRICA, OTHER COUNTRIES)

Key Market Players

FANTRAX, ROTO SPORTS, INC, NFL ENTERPRISES LLC, GOOD GAMER CORPORATION, FANDUEL, DREAM SPORTS, DRAFTKINGS INC, SPORTECH INC, FANTASYPROS (MARZEN MEDIA LLC), ROTOWORLD (COMCAST CORPORATION)