Fantasy Sports Market By Sport Type (Football (Soccer), Cricket, Basketball, Baseball, Hockey, Esports, Others); By Platform (Mobile Applications, Websites); By Mode of Play (Daily Fantasy Sports, Seasonal Fantasy Sports); By End-User (Individual Players, Corporate Users (Workplace Leagues)); By Geography, Segment revenue estimation, Forecast, 2024–2032.

The global fantasy sports market was USD 22 billion in 2023 and is expected to reach USD 48 billion from 2024 to 2030 at a CAGR of 11.8%.

 

The Fantasy Sports Market may be defined as an internet-based playing system in which people use real sports players to assemble their teams, and the points scored by these players in actual games are used to determine winners. The market has expanded in the last years due to tech evolutions, the growth of sports spectators, and the continuous improvement of mobile internet access. Fantasy sports include sports that compel interest and interaction from sports fans, thus becoming sources of income for sports teams and brands to advertise.

 

Market Drivers

Rising Popularity of Sports Leagues: The growing number of people watching leagues like the NFL, NBA, IPL, EPL, and Place UEFA Champions League has greatly boosted fantasy sports. Sports fans require more than watching their preferred sports leagues or other fantasy outlets to help with this. Example: The IPL 2023 opened a new market with more than 20 million users who began using platforms with fantasy cricket in India.

 

Advancements in Mobile Technology: The widespread availability of smartphones and faster internet connections are major factors contributing to the increasing number of people participating in fantasy sports. Mobile apps provide users with more convenient solutions that are easy to manage, offering better response options and timely policy updates. Example: Mobile fantasy sports in the United States were convenient and easy to access through applications, and therefore, they controlled 65% of total fantasy sports revenue in 2023.

 

Increasing Adoption of Gamification: B2C players use game design elements, including rewards, badges, and leaderboards, to popularize their platforms for fantasy sports. Using gamification elements brings more benefits to these platforms for casual and active users. For example, a fantasy hockey platform in Canada implemented the tiered reward system in 2023 to enhance user engagement by 30% during the NHL season.

 

Market Opportunities

Integration of Emerging Technologies: Advanced technologies such as AI, blockchain, and AR enhance the user experience in fantasy sports applications. For example, a fantasy esports platform was launched in South Korea in 2023 that used AI to predict outcomes for the teams, steadily gaining more than 500,000 clients in the first quarter of the year.

 

Expansion in Emerging Markets: Asia-Pacific, Latin American, and African countries have attractive growth potential because of the wise use of smartphones, popular sports, and growing digital payments. For example, the fantasy football market in Brazil expanded to 18% in 2023 due to its football leagues and increased internet capabilities.

 

Rise of Fantasy Esports: Expanding esports means fresh opportunities to address fans of games such as League of Legends, Dota 2, and CS: GO. Immersive Virtual Reality utilizes virtual reality technology to let consumers draft actual video gamers and get paid based on their performance. Example: An esports fantasy in China also found that during the 2023 League of Legends World Championship, user participation grew by 25%.

 

Market Restraints

Legal and Regulatory Challenges: Currently, the legality and regulation of fantasy sports mainly depend on the geography of operations, especially in terms of gambling laws and taxation policies. This leads to risks for the platform operators and thus hinders market growth. Example: For instance, a fantasy football platform in Germany in 2023 shut down due to strict Federal State regulations that banned activities considered equal to gambling.

 

Concerns About Data Privacy: Playground applicants submit delicate individual and monetary data on fantasy stages, which might trigger the vulnerability of data tussles and break-ins. Example: A data breach of a fantasy cricket platform in the year 2023 exposed more than 1 million users in India, which is why cybersecurity has become the need of the hour.

 

Market Segmentation

By Sport Type

• Football (Soccer)

• Cricket

• Basketball

• Baseball

• Hockey

• Esports

• Others

 

By Platform

• Mobile Applications

• Websites

 

By Mode of Play

• Daily Fantasy Sports

• Seasonal Fantasy Sports

 

By End-User

• Individual Players

• Corporate Users (Workplace Leagues)

 

By Region

• North America

• Europe

• Asia-Pacific

• Latin America

• Middle East & Africa

 

Segment Analysis

Leading Sport Type: Football (Soccer)

Football (Soccer) alone contributed 40% to the market in 2023 owing to its cosmopolitan appeal and special events such as the FIFA World Cup and UEFA Champions League. Example: In Europe, fantasy football platforms saw their community grow by 25% during the 2023 UEFA Champions League season.

 

Leading Platform: Mobile Applications

In 2023, mobile applications led the market with a 60% revenue share because of their convenience, real-time content, and customer orientation. A fantasy cricket app in India attained more than 15 million active users daily during the IPL 2023.

 

Leading Mode of Play: Daily Fantasy Sports

Daily Fantasy Sports (DFS) was the most-used type, generating 55% of the industry’s revenue in 2023 due to the availability of results almost instantly and more frequently than in seasons. Example: Self-serve futures platforms in Canada experienced a 20 percent increase in user registration throughout the NHL 2023 season.

 

Regional Analysis

North America has the largest market share, generating 45% of global revenue in 2023 due to conventional leagues, including the NFL, NBA, and MLB. Example: At the time of our sample in 2023, the two primary companies operating in the United States were DraftKings and FanDuel, which comprised 70% of the market share.

 

Asia-Pacific is the fastest-growing region in terms of the CAGR and is projected to reach 12.5% owing to the increasing usage of smartphones, the prevalence of cricket and esports in the region, and government funding for developing compelling digital structures. Example: Ahead of the 2023 ICC Cricket World Cup, the growth in legal fantasy cricket platforms like Dream11 increased by 30% in India.

 

Key Players

• DraftKings Inc.

• FanDuel Group

• Dream11

• MyTeam11

• Yahoo Fantasy Sports

• ESPN Fantasy Sports

• Boom Fantasy

• RotoGrinders

• Hattrick

• Sleeper

 

Future Outlook

With technological advancements, a growing interest in sports, and a diversifying customer base, the Fantasy Sports Market has great potential for growth. New markets of Asia-Pacific and Latin America will command the industry's destiny.

 

By 2030, advanced solutions like AR-based live drafts, AI-generated analytics, and blockchain-integrated reward systems will reshape the market and provide engaging and differentiated content to fantasy sports fans worldwide. As more opportunities open up in esports, female viewership, and new and developing nations, the fantasy sports market will remain an anchor for sports fans.