Fantasy Sports Market Value Predicted To Reach USD 41 Billion by 2027
Global demand for Fantasy Sports market size, in terms of revenue, was worth of USD 20.69 Billion in 2020 and is expected to reach USD 48.07 Billion by 2027, growing at a CAGR of 12.8% from 2021 to 2027. The global Fantasy Sports is expected to grow at a significant rate due to the number of driving factors.
Dream Sports, Fanduel (Flutter Entertainment), Rotoworld, Fantrax, NFL Fantasy, DraftKings, Yahoo, ESPN, CBS, , Fantasy Football, MyFantasyLeague, Bovada, StarsDraft, Fox Corp., Roto Sports, The Walt Disney Company, Verizon Communications
Increasing technology penetration such as smartphone, internet, etc. & growing investment in online gaming are anticipated to drive the growth of Global Fantasy Sports Market. The fantasy sports market is driven by the launch of various apps for fantasy sports.
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Fantasy Sport is the online prediction games which allow players to make a virtual team of real sports players and earn points based on real life statistics that are converted into points. The points are based on team player performance i.e. better performance leads to higher the points. The player's selected team will play against other managers and their teams which are managed through a roster by adding, dropping, trading and selling players to keep winning.
The fantasy sports have helped in increased viewership of the sports events as the points are dependent on real life performance of the player. The team managers improves their decision making capability by considering multiple variable to the performance & increase the chances the winning in the friendly battle with other managers i.e. friends, family, colleagues, etc. The data analysis is used to predict the performance has played huge role in success of the fantasy sports. These games have also increased the individual's interest for the sport as growing knowledge about rules & regulation makes it easy to understand. The technology such as mobile phone, play station, internet penetration, etc. implemented in sport industry has evolved the online gaming with increased live coverage or streaming of almost every event.
During Covid-19 pandemic, the government imposed movement restriction has shifted individual's fun time from going out to online games but the fantasy market has witnessed significantly fall during lockdown due to cancelled major sporting events around the globe. The fantasy sport market has been started regaining its growth after lockdown as the events are organized without real audience such as IPL 13 and the market growth is expected to rise in coming time.
News- FuboTV has Acquired Fantasy Sports Startup Balto.
December 2nd 2020; Balto Sports, a fantasy sports startup started in 2018 has been bought by sports streaming service FuboTV to enter online sports betting market. FuboTV went public in October after merging with FaceBank Group, it will offers free to play gaming through its streaming TV service.
North America is Expected to Dominate the Global Fantasy Sports Market
Global Fantasy Sports Market Segmentation:
By Sport:
Football
Baseball
Basket Ball
Hockey
Cricket
Others
By Platform:
Website
Mobile Application
By Demographics:
Under 25 Years
25 to 40 Years
Above 40 Years
The regions covered in global fantasy sports market report are North America, Europe, Asia-Pacific, Latin America and Rest of the World. On the basis of country level, the market of global fantasy sports is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (Saudi Arabia, Egypt, UAE) GCC, Africa, etc.
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