Fantasy Sports Market Expected to Secure Notable Revenue Share Between 2022 and 2030 – Travel Adventure Cinema

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The global fantasy sports market is expected to grow from USD 22.5 million in 2021 to USD 66.4 billion by 2030, at a CAGR of 14.5% from 2022 to 2030. Fantasy sports are online gaming platforms where participants manage and build virtual teams of real professional sportsmen. Participants compete against each other’s fantasy teams for an entire league or sports season. The user who scores the maximum points earns money based on the performance of real professional sportsmen.

Players operating in the fantasy sports market offer complete transparency to customers regarding their monetary transactions. All financial transactions on sports fantasy platforms are secured with verified payment gateways, thus building user trust. In addition, the platforms allow for greater transparency by allowing users to see the teams created by their competitors, by disclosing the amount of money at the start of the game and by revealing the money to be won by the different rank holders in a competition. This results in transparent competition between users. High transparency, fair gaming policies, regulations, and secure payment gateways result in higher consumer trust among fantasy sports platform users.

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Fantasy sports are often confused with illegal sports betting, although fantasy sports are primarily skill-based. However, fantasy sports still remain under the legal control of various gambling laws across countries. The legality of fantasy sports is often based on existing gaming laws and gaming laws of skill. Although fantasy sports are legal; however, US states such as Hawaii, Alabama, Arizona, Idaho, Montana, Louisiana, Iowa, Nevada, and Washington State have banned one or more fantasy sports platforms such as Yahoo, FanDuel, Fantasy Draft, DraftKings and others. Additionally, laws related to sports fantasy platforms are highly ambiguous in countries like Japan, Macao, Malaysia, Pakistan, Indonesia, Taiwan, and Vietnam. The lack of regulatory bodies and ambiguous laws remains a major challenge for players engaged in the sports fantasy industry. Moreover, with sports activities and leagues such as the IPL and other sports leagues likely to take place in the coming months, the sports fantasy market is expected to rebound in the coming months of the last quarter.

covid19 Global Fantasy Sports Market Impact

The global fantasy sports market is deeply affected by the coronavirus outbreaks. The epidemic in China has led to the lockdown and cessation of sports activities around the world. In addition, sports complex closures, strict social distancing standards and public fear of contracting the coronavirus have negatively impacted sports activities. The absence of major sports leagues has led to enormous turmoil for engaged stakeholders; however, the disturbance should remain short.

Global Fantasy Sports Market Dynamics

Drivers: Digital infrastructure in the developing region

The number of Internet subscribers in India is expected to reach 639 million at the end of December 2020, up from 560 million in September 2018. Additionally, the average data usage per subscriber has increased significantly owing to the availability of affordable smartphones coupled with the fall fast nationwide data pricing. This growth in digital infrastructure and the availability of high-speed internet at affordable prices is helping to drive the growth of the fantasy sports market in the region.

Constraints: Lack of awareness of fantasy sports platforms

The lack of awareness of the broader context and definition of esports among the wider online gaming population remains a concern for fantasy sports. In attempting to uncover this understanding from our gauge survey of 336 fantasy sports users, it was found that nearly 55% of respondents had an incorrect understanding of esports, associating it exclusively with fantasy-based games. sport. Additionally, 22% of respondents were completely unaware of what esports is. Fostering a better understanding of the esports segment would be crucial for the industry to tap into the true potential of the segment.

Opportunities: Growing Popularity of Sports Leagues

The emergence of various sports leagues such as Indian Premier League (IPL) and National Football League (NFL) is increasing the demand for innovative technology engagements. This is invigorating the fantasy sports market as it is a crucial tool for active fan engagement, and it is being increasingly deployed across various sports. Also, improving internet connectivity and increasing number of smartphone owners are expected to increase the number of users and have a positive impact on the growth of the industry.

Fantasy Sports Scope

The study categorizes the fantasy sports market on the basis of sport type, platform, age group, usage type, and game mode regionally and globally..

By type of sport (Sales, million USD, 20172030)

  • Baseball
  • Hockey
  • Basketball
  • Soccer
  • locust
  • Others

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By Outlook platform (Sales, million USD, 20172030)

  • Mobile app
  • Website

By age group (Sales, million USD, 20172030)

  • Under 25
  • 25 to 40 years old
  • Over 40 years

By type of Outlook usage (Sales, million USD, 20172030)

By Outlook Game Mode (Sales, million USD, 20172030)

  • Single player game
  • squad play

Outlook by region (Sales, million USD, 20172030)

  • North America (United States, Canada, Mexico)
  • South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
  • Europe (Germany, Italy, France, United Kingdom, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia Pacific)
  • The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA)

The mobile application segment holds the largest market share

The global fantasy sports market is segmented into platform-based websites and mobile applications. In 2021, the mobile segment accounted for the largest market share. And it is estimated that it will gain more market share in the coming years during the forecast period.

Asia Pacific represents the highest CAGR over the forecast period

On the basis of regions, the global fantasy sports market has been segmented into North America, AsiaPacific, Europe, South America, Middle East and Africa. Globally, Asia Pacific is estimated to hold the highest CAGR in the global fantasy sports market during the forecast period. The region includes countries such as China, India, Japan, Australia, South Korea, Southeast Asia and Rest of Asia.Peaceful. The growth of the region is mainly due to the strong economic growth of emerging national countries such as China, Indonesia, India and Malaysia..

Main market players

The fantasy sports market is slightly concentrated with few global players operating in the market such as Dream Sports, Fantacalcio, Fanduel (Flutter Entertainment), Rotoworld FantasyPros, DraftKings Inc., Rotowire, Fantrax, NFL Fantasy and Sportech Inc.. Each company follows its business strategy to achieve the maximum market share.

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