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Fantasy Sports Market - Global Outlook & Forecast 2023-2028

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    Report

  • 259 Pages
  • January 2023
  • Region: Global
  • Arizton
  • ID: 5714636
1h Free Analyst Time
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The fantasy sports market is expected to grow at a CAGR of approximately 12.19% from 2022 to 2028

MARKET TRENDS AND DRIVERS

1. Fantasy Sports Platform Development

Various fantasy sports vendors are entering the fantasy sports market with the rising potential of fantasy sports. Recently, various vendors have stepped into the industry, and many are in the pipeline. Fantasy sports companies create a platform with various features and enhancing user interface, which helps attract a large market customer base.

2. Influence of Social Media on The Fantasy Sports Market

Promotional activities carried out by fantasy sports vendors on social media attract a large customer base, which is expected to drive the global fantasy sports market in the future. Social media also helps in customer engagement, such as vendors holding contests, providing advice, and embracing the current trend in fantasy sports.

3. Rise in Female Participation

In recent years, women gamers have increased worldwide owing to the rise in awareness of fantasy sports through social media and other advertising mediums. The rise in social media platforms such as Twitter, Instagram, Facebook, and other sites has created new avenues for gaming to come together and share insights. This encourages women to participate and showcase their presence in the gaming industry, and this rapid growth is expected to add more revenue to the global fantasy sports market. There has been an audience shift toward exploring the fantasy football industry by women. Although the sport is considered to be male-dominated, these days, women are actively participating in this sport.

INDUSTRY RESTRAINTS

Regulatory Restrictions Across Regions

Various countries worldwide impose restrictions on fantasy sports as they find gambling and sports betting, which could lead to financial loss. Thus, such restrictions can become a major restraint for the fantasy sports market as the vendor will lose out on the industry from the region where fantasy sports are banned. Several states in the US are imposing restrictions on fantasy sports and are even posing fines against some fantasy sports platforms for disobeying the laws.

SEGMENTATION ANALYSIS

INSIGHTS BY SPORT

  • The fantasy football segment is expected to be the largest segment in the global fantasy sports market. One of the factors for the success of fantasy sports within football is the distribution of prizes (big money) to the contest winners. For instance, certain fantasy football contests pay winners more than USD 9.8 million weekly. Sponsorship deals with NFL teams are another factor in the Fantasy Football segment. For instance, FanDuel and DraftKings have had sponsorship deals with more than 25 teams of the 32 teams in the NFL.
  • Further, fantasy Football has even resulted in higher match viewership across the leagues. All such factors are anticipated to propel the growth of the global fantasy football market in the years to come. Vendors can consider targeting the huge fan base in the segment via their interactive and innovative offerings and hence aim at maximizing profits considerably.
  • One of the most popular sports worldwide, soccer is followed passionately by people of almost all age groups. The global fantasy soccer market was valued at USD 1.4 billion in 2022, and it tends to provide immense opportunities for the fantasy sports market owing to the high fan following of the game itself. Also, with the launch of numerous leagues, one can certainly feel the electrifying effect when some internationally renowned players are playing for local clubs across countries. The fantasy sports market has considerable growth opportunities via the fantasy soccer sports segment. Today, various vendors are engaged in delivering fantasy soccer games, including the likes of Fantrax, ESPN, DraftKings, and MLS Fantasy, among others.

INSIGHTS BY GENDER

  • The global fantasy sports market is the male-dominant industry, and the industry for males is expected to grow at a CAGR of more than 12% between 2022 and 2028. Men, in general, have had a history of associating themselves with sports for recreational, emotional, and other similar relatable purposes. Besides the high male population across geographies, males' connection with sports has remained more solid than their counterparts.
  • The female population in the global fantasy sports market has witnessed a good surge. This is largely attributed to a growing number of sports events catering to women and rising awareness about various games among females. Although females account for a lesser share than male end-users, female end-users for fantasy sports are expected to remain a key area of focus for vendors in the fantasy sports market. The consistently growing population within this end-user segment, backed by diverse factors, is set to drive the end-user demand share for fantasy sports across regions.

INSIGHTS BY PLATFORM

  • The fantasy sports application segment is expected to grow immensely and is the dominating segment. The increased penetration of smartphones has given rise to several mobile application-based games. The ease of convenience it offers end-user in fantasy sports within the comfort of their own space is the major reason behind the segment’s growth. Fantasy sports is a growing industry with the involvement of advanced mobile app technologies.
  • The website-based fantasy sports market has a large customer base in North America, and the segment crossed USD 2.5 billion in revenue in 2022 globally. Even though PCs can cost up to two thousand dollars, they are still less expensive than consoles in the long run, more versatile than mobile devices, and easier to use. As the number of players in fantasy sports continues to rise, hardware manufacturers focus on expanding their offerings, especially through new avenues such as VR.

GEOGRAPHICAL ANALYSIS

  • North America is a key region for the global fantasy sports market owing to the high popularity of various sports in the region. Ever since the inception of fantasy sports in the region, several vendors, such as ESPN, Yahoo, FanDuel, and DraftKings, have developed their wide range of fantasy sports offerings. The region is home to more than 60 million fantasy sports players today. It is highly promising for the vendors to target as the demand for fantasy sports contests remains at an all-time high in the US and Canada. The US holds the key to the North American region’s growth in the fantasy sports business. The Fantasy Sports & Gaming Association (FSTA) is the only association looking after the interests of fantasy sports vendors catering to the region.
  • The fantasy sports market in Europe was valued at USD 1.05 billion in 2022 and was led by regions like Germany, the UK, France, Italy, and Spain. The demand for fantasy sports in the European industry is growing, while upgrades and innovative offerings drive industry growth. Further, Western European economies are showcasing strong demand owing to the rising inclination towards diverse sports categories and an influx of international vendors.
  • The APAC region is home to some of the highly enthusiastic sports fans across the globe. APAC is a hub for millennials, primarily driven by the millennial population across significant countries such as China and India. For instance, China and India have more than 409 million millennials, which is about five times more than that in the US. The millennials account for most sports fans and the target audience for fantasy sports vendors. The APAC region holds a key interest for vendors in the fantasy sports market due to the high demand for sports and games among millennials. Sports such as cricket, soccer, and basketball, among others, are quite popular in the region. The region is also home to one of the widely followed sports (cricket) and hosts major cricket-playing nations such as India, Sri Lanka, and Bangladesh, among others. The fantasy sports market in APAC is expected to grow at a CAGR of over 12% during the forecast period.

Segmentation By Geography

  • North America
  • US
  • Canada
  • Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Nordic
  • Netherlands
  • Poland
  • APAC
  • Australia
  • India
  • China
  • South Korea
  • Indonesia
  • Japan
  • Malaysia
  • Singapore
  • Latin America
  • Brazil
  • Mexico
  • Argentina
  • Middle East & Africa
  • South Africa
  • UAE
  • Turkey
  • Saudi Arabia

COMPETITIVE LANDSCAPE

The fantasy sports market was initially served by vendors such as Yahoo and ESPN and is currently dominated by DraftKings and FanDuel, primarily in the North American region. While significant vendors in the global fantasy sports market, such as FanDuel, DraftKings, Yahoo, ESPN, and CBS, are the major revenue generators. Other vendors such as PlayOn, FanTrax, StarsDraft, Dream11, and Sportito are thriving hard to gain a better industry share in the future. Further, vendors catering to the fantasy sports market have a vast range of opportunities to capitalize on, while they also have a list of responsibilities to carry out simultaneously. For instance, the regulatory restrictions across regions tend to imply certain conditions for the fantasy sports operators catering to that area. Failing to abide by these regulations can result in the company being ruled out of the region. Also, while offering these services, one has to ensure that the company stands up to the tax policies and other stringent regulations concerning player earnings and the company’s winnings as set before the game.

Key Company Profiles

  • CBS Corporation
  • DraftKings
  • FanDuel
  • Yahoo
  • ESPN

Other Prominent Vendors

  • Ballr
  • BalleBaazi
  • Boom Fantasy
  • Binoba11
  • Daily Fantasy Cricket
  • DraftStars
  • DraftTeam Fantasy Sports
  • Dream11
  • Eksab
  • FanFight
  • FanMojo
  • FantasyDraft
  • Fantrax
  • HalaPlay
  • My11Circle
  • MoneyBall
  • MyTeam11
  • PlayON
  • Sportito
  • 11Wickets
  • NFL (National Football League)
  • Gameskraft
  • PlayerzPot
  • RotoBash

KEY QUESTIONS ANSWERED:

1. How big is the fantasy sports market?
2. What is the growth rate of the global fantasy sports market?
3. Who are the key players in the global fantasy sports market?
4. What are the growing trends in the fantasy sports market?
5. Which region holds the leading global fantasy sports market share?
Frequently Asked Questions about the Fantasy Sports Market

What is the estimated value of the Fantasy Sports Market?

The Fantasy Sports Market was estimated to be valued at $6456.45 Million in 2022.

What is the growth rate of the Fantasy Sports Market?

The growth rate of the Fantasy Sports Market is 12.1%, with an estimated value of $12872.86 Million by 2028.

What is the forecasted size of the Fantasy Sports Market?

The Fantasy Sports Market is estimated to be worth $12872.86 Million by 2028.

Who are the key companies in the Fantasy Sports Market?

Key companies in the Fantasy Sports Market include CBS Corporation, DraftKings, FanDuel, Yahoo, ESPN, Ballr, BalleBaazi, Boom Fantasy and Daily Fantasy Cricket.

Table of Contents

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.1.3 Market Estimation Caveats
4.2 Base Year
4.3 Scope of the Study
4.4 Market Segments
4.4.1 Market Segmentation by Sport
4.4.2 Market Segmentation by Gender
4.4.3 Market Segmentation by Platform
4.4.4 Market Segmentation by Geography

5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

6 Market at a Glance

7 Premium Insights
7.1 Market Overview
7.2 Market Dynamics: Key Trends, Drivers, and Restraints
7.2.1 Market Trends
7.2.2 Market Drivers
7.2.3 Market Restraints
7.3 Segment Analysis
7.4 Geographical Analysis
7.5 Competitive Landscape
7.6 About the Report

8 Introduction
8.1 Overview
8.1.1 Gaming Industry - Major Trends in 2022
8.2 Fantasy Sports Market
8.3 Demographics of Fantasy Sports Market
8.4 Value Chain

9 Market Opportunities & Trends
9.1 Growth in Count of Global Sports Events
9.2 Increasing Number of Internet Users
9.3 Fantasy Sports Platform Development
9.4 Rise in Female Participation
9.5 Ar-&-Vr-Enabled Fantasy Sports

10 Market Growth Enablers
10.1 Influence of Social Media on Fantasy Sports Market
10.2 Capitalizing Ott Platform
10.3 Rise in Partnerships in Fantasy Sports Market
10.4 Increasing Popularity Among Millennial & Gen Z Population

11 Market Restraints
11.1 Regulatory Restrictions Across Regions
11.2 Growth in Technicalities Hampering Growth
11.3 Stringent Regulations Against Betting
11.4 Risk of Fraud & Privacy Issues

12 Market Landscape
12.1 Market Size & Forecast
12.2 Five Forces Analysis
12.2.1 Threat of New Entrants
12.2.2 Bargaining Power of Suppliers
12.2.3 Bargaining Power of Buyers
12.2.4 Threat of Substitutes
12.2.5 Competitive Rivalry

13 Sport
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Fantasy Football
13.3.1 Market Size & Forecast
13.3.2 Market by Geography
13.4 Fantasy Soccer
13.4.1 Market Size & Forecast
13.4.2 Market by Geography
13.5 Fantasy Basketball
13.5.1 Market Size & Forecast
13.5.2 Market by Geography
13.6 Fantasy Baseball
13.6.1 Market Size & Forecast
13.6.2 Market by Geography
13.7 Fantasy Hockey
13.7.1 Market Size & Forecast
13.7.2 Market by Geography
13.8 Fantasy Golf
13.8.1 Market Size & Forecast
13.8.2 Market by Geography
13.9 Fantasy Cricket
13.9.1 Market Size & Forecast
13.9.2 Market by Geography
13.10 Other Fantasy Sports
13.10.1 Market Size & Forecast
13.10.2 Market by Geography

14 Gender
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Male
14.3.1 Market Size & Forecast
14.3.2 Market by Geography
14.4 Female
14.4.1 Market Size & Forecast
14.4.2 Market by Geography

15 Platform
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 Application
15.3.1 Market Size & Forecast
15.3.2 Market by Geography
15.4 Website
15.4.1 Market Size & Forecast
15.4.2 Market by Geography
16 Geography
16.1 Market Snapshot & Growth Engine
16.2 Geographic Overview

17 North America
17.1 Market Overview
17.2 Market Size & Forecast
17.3 Sport
17.3.1 Market Size & Forecast
17.4 Gender
17.4.1 Market Size & Forecast
17.5 Platform
17.5.1 Market Size & Forecast
17.6 Key Countries
17.6.1 Us: Market Size & Forecast
17.6.2 Canada: Market Size & Forecast

18 Europe
18.1 Market Overview
18.2 Market Size & Forecast
18.3 Sport
18.3.1 Market Size & Forecast
18.4 Gender
18.4.1 Market Size & Forecast
18.5 Platform
18.5.1 Market Size & Forecast
18.6 Key Countries
18.6.1 Uk: Market Size & Forecast
18.6.2 Germany: Market Size & Forecast
18.6.3 France: Market Size & Forecast
18.6.4 Italy: Market Size & Forecast
18.6.5 Spain: Market Size & Forecast
18.6.6 Nordic: Market Size & Forecast
18.6.7 Netherlands: Market Size & Forecast
18.6.8 Poland: Market Size & Forecast

19 Apac
19.1 Market Overview
19.2 Market Size & Forecast
19.3 Sport
19.3.1 Market Size & Forecast
19.4 Gender
19.4.1 Market Size & Forecast
19.5 Platform
19.5.1 Market Size & Forecast
19.6 Key Countries
19.6.1 Australia: Market Size & Forecast
19.6.2 India: Market Size & Forecast
19.6.3 China: Market Size & Forecast
19.6.4 South Korea: Market Size & Forecast
19.6.5 Indonesia: Market Size & Forecast
19.6.6 Japan: Market Size & Forecast
19.6.7 Malaysia: Market Size & Forecast
19.6.8 Singapore: Market Size & Forecast

20 Latin America
20.1 Market Overview
20.2 Market Size & Forecast
20.3 Sport
20.3.1 Market Size & Forecast
20.4 Gender
20.4.1 Market Size & Forecast
20.5 Platform
20.5.1 Market Size & Forecast
20.6 Key Countries
20.6.1 Brazil: Market Size & Forecast
20.6.2 Mexico: Market Size & Forecast
20.6.3 Argentina: Market Size & Forecast

21 Middle East & Africa
21.1 Market Overview
21.2 Market Size & Forecast
21.3 Sport
21.3.1 Market Size & Forecast
21.4 Gender
21.4.1 Market Size & Forecast
21.5 Platform
21.5.1 Market Size & Forecast
21.6 Key Countries
21.6.1 South Africa: Market Size & Forecast
21.6.2 Uae: Market Size & Forecast
21.6.3 Turkey: Market Size & Forecast
21.6.4 Saudi Arabia: Market Size & Forecast

22 Competitive Landscape
22.1 Competition Overview

23 Key Company Profiles
23.1 Cbs Corporation
23.1.1 Business Overview
23.1.2 Product Offerings
23.1.3 Key Strategies
23.1.4 Key Strengths
23.1.5 Key Opportunities
23.2 Draftkings
23.2.1 Business Overview
23.2.2 Product Offerings
23.2.3 Key Strategies
23.2.4 Key Strengths
23.2.5 Key Opportunities
23.3 Fanduel
23.3.1 Business Overview
23.3.2 Product Offerings
23.3.3 Key Strategies
23.3.4 Key Strengths
23.3.5 Key Opportunities
23.4 Yahoo
23.4.1 Business Overview
23.4.2 Product Offerings
23.4.3 Key Strategies
23.4.4 Key Strengths
23.4.5 Key Opportunities
23.5 Espn
23.5.1 Business Overview
23.5.2 Product Offerings
23.5.3 Key Strategies
23.5.4 Key Strengths
23.5.5 Key Opportunities

24 Other Prominent Vendors
24.1 Ballr
24.1.1 Business Overview
24.1.2 Product Offerings
24.2 Ballebaazi
24.2.1 Business Overview
24.2.2 Product Offerings
24.3 Boom Fantasy
24.3.1 Business Overview
24.3.2 Product Offerings
24.4 Binoba11
24.4.1 Business Overview
24.4.2 Product Offerings
24.5 Daily Fantasy Cricket
24.5.1 Business Overview
24.5.2 Product Offerings
24.6 Draftstars
24.6.1 Business Overview
24.6.2 Product Offerings
24.7 Draftteam Fantasy Sports
24.7.1 Business Overview
24.7.2 Product Offerings
24.8 Dream11
24.8.1 Business Overview
24.8.2 Product Offerings
24.9 Eksab
24.9.1 Business Overview
24.9.2 Product Offerings
24.10 Fanfight
24.10.1 Business Overview
24.10.2 Product Offerings
24.11 Fanmojo
24.11.1 Business Overview
24.11.2 Product Offerings
24.12 Fantasydraft
24.12.1 Business Overview
24.12.2 Product Offerings
24.13 Fantrax
24.13.1 Business Overview
24.13.2 Product Offerings
24.14 Halaplay
24.14.1 Business Overview
24.14.2 Product Offerings
24.15 My11Circle
24.15.1 Business Overview
24.15.2 Product Offerings
24.16 Moneyball
24.16.1 Business Overview
24.16.2 Product Offerings
24.17 Myteam11
24.17.1 Business Overview
24.17.2 Product Offerings
24.18 Playon
24.18.1 Business Overview
24.18.2 Product Offerings
24.19 Sportito
24.19.1 Business Overview
24.19.2 Product Offerings
24.20 11Wickets
24.20.1 Business Overview
24.20.2 Product Offerings
24.21 Nfl (National Football League)
24.21.1 Business Overview
24.21.2 Product Offerings
24.22 Gameskraft
24.22.1 Business Overview
24.22.2 Product Offerings
24.23 Playerzpot
24.23.1 Business Overview
24.23.2 Product Offerings
24.24 Rotobash
24.24.1 Business Overview
24.24.2 Product Offerings

25 Report Summary
25.1 Key Takeaways
25.2 Strategic Recommendations

26 Quantitative Summary
26.1 Market by Geography
26.2 North America
26.2.1 Sport
26.2.2 Gender
26.2.3 Platform
26.3 Europe
26.3.1 Sport
26.3.2 Gender
26.3.3 Platform
26.4 Apac
26.4.1 Sport
26.4.2 Gender
26.4.3 Platform
26.5 Latin America
26.5.1 Sport
26.5.2 Gender
26.5.3 Platform
26.6 Middle East & Africa
26.6.1 Sport
26.6.2 Gender
26.6.3 Platform
26.7 Sport
26.7.1 Fantasy Football
26.7.2 Fantasy Soccer
26.7.3 Fantasy Basketball
26.7.4 Fantasy Baseball
26.7.5 Fantasy Hockey
26.7.6 Fantasy Golf
26.7.7 Fantasy Cricket
26.7.8 Other Fantasy Sports
26.8 Gender
26.8.1 Male
26.8.2 Female
26.9 Platform
26.9.1 Application
26.9.2 Website

27 Appendix
27.1 Abbreviations

Companies Mentioned

  • CBS Corporation
  • DraftKings
  • FanDuel
  • Yahoo
  • ESPN
  • Ballr
  • BalleBaazi
  • Boom Fantasy
  • Binoba11
  • Daily Fantasy Cricket
  • DraftStars
  • DraftTeam Fantasy Sports
  • Dream11
  • Eksab
  • FanFight
  • FanMojo
  • FantasyDraft
  • Fantrax
  • HalaPlay
  • My11Circle
  • MoneyBall
  • MyTeam11
  • PlayON
  • Sportito
  • 11Wickets
  • NFL (National Football League)
  • Gameskraft
  • PlayerzPot
  • RotoBash

Methodology


Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.

Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.



 

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