Industry Background:
Fantasy sports is one type of online game in which participants collect virtual teams of real players of a professional sport. These teams then participate based on their statistical comparison of the actual games being played by them. This performance is then converted into points which are compiled & totaled as per a roster selected by each fantasy team's manager. High internet penetration coupled with the increasing adoption of smartphones is a key factor driving the global fantasy sports growth over the coming future. Various types of fantasy sports include fantasy baseball, fantasy car racing, fantasy football, micro-moment games, fantasy soccer, fantasy golf, fantasy basketball, and other fantasy sports. Reasonable smartphones and high-speed internet access have increased the number of fantasy sports players. Smartphones assist end-users play fantasy sports regardless of location and time. This also enlarges participation in fantasy sports over mobile devices which will drive market growth. As the popularity & live streaming of e-sports is rising, the demand for e-sports fantasy leagues is also likely to rise. Fans can generate their own fantasy league teams based on these live matches. So, the rising popularity of e-sports will cause the growth of the fantasy sports market.
According to AMA Research, the market for Fantasy Sports is expected to register a CAGR of 12.5% during the forecast period to 2030. This growth is primarily driven by The Growing Popularity Of E-Sports
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Casinos & Gaming sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as ESPN Inc.,(United States), Paddy Power Betfair plc (Republic of Ireland), CBS Sports (United States), DraftKings (United States), Bovada Iv. (Canada), DraftTeam Fantasy Sports Inc. (Canada), Yahoo Sports (United States), Ballr (Singapore) and Fantrax (Canada), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In June 2022, BetBlocker, a renowned non-profit organization dedicated to responsible gaming and safer play, and DraftKings Inc. announced their partnership to increase public knowledge of and access to BetBlocker's, and In April 2022, Jared Carrabis, a well-known baseball personality, and content creator, has been added to the media roster of DraftKings Inc. Carrabis, well-known for his incisive, in-depth baseball analysis and fervent support of the Boston Red Sox, will collaborate with DraftKings to produce weekly podcasts about baseball and a variety of exciting content based on podcast subjects for baseball fans to enjoy.
In April 2021, DraftKings launched its standalone online casino app in Pennsylvania, expanding its offerings beyond its traditional daily fantasy sports and sports betting products.In recent times, DraftKings Inc. has announced the launch of DraftKings Sportsbook, which is becoming the first company to provide legal online & mobile sports betting in New Jersey. DraftKings leveraged its best-in-class technology, advantageous positioning, as well as extensive knowledge across sports to carry their Sportsbook product to market just a couple months after formally filing for sports betting authorization with the New Jersey Division of Gaming Enforcement.
Influencing Trend:
Partnerships Between Pro Leagues & Daily Fantasy Vendors
Market Growth Drivers:
The Growing Popularity Of E-Sports and Increased Internet Penetration And Growing Adoption Of Smartphones
Challenges:
Rising Traction Of Mobile Video Games & Traditional E-Sports
Restraints:
Increasing number of fantasy sports platforms has led to intense competition
Opportunities:
Blockchain Technology and Cryptocurrencies in Fantasy Sports and Emerging Markets
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Fantasy Sports Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Fantasy Sports Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Fantasy Sports players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Fantasy Sports Study Sheds Light on
The Fantasy Sports Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Fantasy Sports industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Fantasy Sports industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.