Fantasy Sports Global Market Report 2024

Fantasy sports, also known as rotisserie sports or roto, involve games where players manage virtual teams competing based on the statistical performance of real-life players in actual games. Participants take on the roles of general manager and field manager, assembling teams through drafts and deals for the highest statistical output.

The primary categories of fantasy sports encompass football, baseball, basketball, hockey, cricket, and others. Fantasy football involves participants engaging in an interactive game where they act as general managers of virtual clubs, competing against each other. In fantasy baseball, individuals assume the roles of owners and general managers of virtual baseball teams comprised of actual Major League baseball players. Fantasy basketball is a game in which players take on the role of general managers, creating fantasy teams by drafting National Basketball Association players based primarily on their basketball statistics. Fantasy hockey involves building a team that competes with others based on the statistics generated by professional hockey players or teams, often centered around the National Hockey League. Fantasy Cricket is an online game that relies on strategic planning, requiring players to create virtual teams of real cricketers participating in matches worldwide, with points scored based on their real-life performances. Various usage types, including free, paid, and hybrid, are implemented across platforms such as websites and mobile applications. Fantasy sports find application in both individual and team competitions.

The fantasy sports market research report is one of a series of new reports from The Business Research Company that provides fantasy sports market statistics, including fantasy sports industry global market size, regional shares, competitors with a fantasy sports market share, detailed fantasy sports market segments, market trends and opportunities, and any further data you may need to thrive in the fantasy sports industry. This fantasy sports market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The fantasy sports market size has grown rapidly in recent years. It will grow from $25.43 billion in 2023 to $28.41 billion in 2024 at a compound annual growth rate (CAGR) of 11.8%. The growth observed in the historical period can be attributed to factors such as the penetration of the internet and mobile devices, the increased popularity of major sports leagues, enhanced social connectivity, the growth of interactive and engaging platforms, and the availability of cross-platform accessibility.

The fantasy sports market size is expected to see rapid growth in the next few years. It will grow to $47.02 billion in 2028 at a compound annual growth rate (CAGR) of 13.4%. The anticipated growth in the forecast period can be attributed to factors such as the emergence of new sports, the incorporation of enhanced user engagement features, the integration of gamification elements, the legalization and regulation of sports betting, and the increased integration with social media. Major trends expected in the forecast period include the integration of augmented reality (AR) and virtual reality (VR), the incorporation of blockchain technology, collaborations with sports leagues and teams, AI-driven recommendations, and a focus on customization and personalization in sports entertainment platforms.

The burgeoning youth population is playing a pivotal role in the expansion of the fantasy sports market. Today's youth is dedicating an increasing amount of time to smartphones and, by extension, social media. Fantasy sports offer them a platform to connect and engage in more enjoyable conversations and competitions with their peers. As an example, a November 2022 report from the European Commission, a Belgium-based body overseeing and implementing EU policies, revealed that as of January 1, 2021, the youth demographic (individuals aged 15 to 29 years) constituted approximately 16.3% of the European Union's total population. Notably, specific NUTS level 3 regions stood out, with youth comprising over a quarter of the total population. For instance, the Danish capital region of Byen Kobenhavn led with 26.7%, followed by the student cities of Overig Groningen in the Netherlands at 25.4%, and Heidelberg, Stadtkreis in Germany at 25.1%. These regions demonstrated a notable concentration of young people within their populations. Consequently, the rising youth population is a driving force behind the growth of the fantasy sports market.

The anticipated surge in the use of social media is poised to significantly propel the growth of the fantasy sports market. Social media encompasses online platforms and technologies that empower users to generate, share, and exchange content, information, and ideas within virtual communities. These platforms provide an arena for enthusiasts to connect, share experiences, and establish communities, fostering real-time discussions, team interactions, and updates that enhance the overall fantasy sports experience and boost user engagement. As an illustration, a January 2022 report by We Are Social, a UK-based media agency, and Hootsuite, a Canada-based software company, predicted that there would be 4.62 billion social media users worldwide in 2022, constituting 58.4% of the global population. Over the preceding 12 months, the global social media user base had expanded by more than 10%, with 424 million new users embarking on their social media journey in 2021. Consequently, the escalating use of social media stands as a driving force behind the growth of the fantasy sports market.

Prominent companies in the fantasy sports market are actively developing innovative products, particularly fantasy sports platforms, to cater to larger customer bases, drive sales, and boost revenue. A fantasy sports platform is an online application or website that empowers users to create and manage virtual sports teams comprising real-life players from professional sports leagues. As an illustration, in September 2023, Mojo, a US-based company specializing in hypercasual games, introduced a daily fantasy sports game known as Mojo Fantasy. Setting itself apart with unique features, the platform offers contests where users can engage by selecting combinations of at least four player-based props, introducing a strategic element to the gaming experience. An intriguing aspect is the real-time trading option, enabling users to trade specific bets while salaries fluctuate throughout the contest, creating an interactive and dynamic gaming environment. Additionally, Mojo facilitates the creation of portfolios that directly compete during live matches, elevating engagement and competitiveness. Noteworthy is the startup's revenue model, which involves taking three to five percent of the buy-in on each contest, establishing a sustainable framework for its operations.

Prominent companies in the fantasy sports market are strategically embracing partnerships to lay the groundwork for the next generation of fantasy sports gaming. Strategic partnerships involve companies leveraging each other's strengths and resources to achieve mutual benefits and success. As an example, in November 2023, GameOn, a US-based gaming company, entered into a strategic partnership with Sportsology, a US-based sports advisory firm. This collaboration is set to inject $2.3 million in development fees into Q4, accompanied by an annual recurring revenue of $1.4 million starting in 2024. The all-encompassing deal holds a total projected value of $9.3 million over a five-year period, highlighting growth prospects and additional opportunities within the partnership. Under this agreement, GameOn is actively involved in creating a fantasy sports infrastructure called $GAME. This platform is strategically designed to enhance fan engagement and drive revenue growth for game developers and sports leagues on a global scale. $GAME is positioned to elevate the player experience in sports-centric games, including fantasy, predictor, card battle, and sports betting games, all relevant to the evolving ecosystem. Developers will leverage $GAME to provide features such as interoperability between games, distributed rewards, true asset ownership, and other advantages tailored for sports fans and gamers.

In January 2021, Bally's Corporation, a gambling company based in the United States, successfully acquired Monkey Knife Fight (MKF) for an undisclosed amount. This acquisition positions Bally's as the third sports betting company in the USA to incorporate a fantasy sports segment. It aligns with the company's overarching strategy for long-term growth and diversification, aiming to establish itself as the premier vertically integrated sports betting and iGaming entity in the USA, utilizing a B2B2C business model. Monkey Knife Fight (MKF) is a fantasy sports gaming website based in North America.

Major companies operating in the fantasy sports market report are ESPN Inc., FanDuel Group, DraftKings Inc., CBS Sports, Dream Sports, PlayON Fantasy Sports, Mobile Premier League, PlayUp Limited, PrizePicks, RotoWire.com LLC, Bovada, FantasyPros, Good Gamer Corporation, Fantrax LLC, Sleeper, Boom Sports, Battlefy Inc., MyFantasyLeague.com, 11Wickets, Sofa Superstars, WinView Games, SportTechie, BalleBaazi, NFL Fantasy Football, Yahoo Fantasy Sports, NBC Sports Edge, Fox Sports Fantasy Football, Victiv, Draft Team Fantasy Sports, Sportito, Own The Play, FSM Fantasy Sports

North America was the largest region in the fantasy sports market in 2023. Asia-Pacific is expected to be the fastest region in the forecast period. The regions covered in the fantasy sports market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the fantasy sports market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The fantasy sports market includes revenues earned by entities by operating E-sports facilities. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Fantasy Sports Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on fantasy sports market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for fantasy sports ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The fantasy sports market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Sports Type: Football; Baseball; Basket Ball; Hockey; Cricket; Other Types
• 2) By Platform: Website; Mobile Application
• 3) By Usage Type: Free; Paid; Hybrid
• 4) By Application: Individual Competition; Team Competition
• Companies Mentioned: ESPN Inc.; FanDuel Group; DraftKings Inc.; CBS Sports; Dream Sports
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.