Scope of Fantasy Sports Industry in the Year 2022-2023
Table of Contents
Undoubtedly, fantasy sports is an industry of multi-million dollar and its entire ecosystem comprises of the aspects such as online playing, sponsorships, draft parties, merchandise, actual game tickets, brand marketing , etc. The biggest and most powerful influencers are the fantasy sports players who elevate the popularity of the real games counterparts. Backed by the on-going advancements in technologies, the fantasy sports industry is witnessed as one of the significant catalysts that can contribute in transforming the casual sports fans into the enthusiastic players. The popularity of fantasy sports is increasing tremendously and spinning the adrenaline rush of the fantasy sports fans. As per the prediction by analysts, the market of global fantasy sports is expected to grow at a CAGR of nearly 12% till 2022.
Overview of Fantasy Sports Market
Factors that can Contribute in Enhancing Growth of Fantasy Sports Market in 2022
- Enhancing Partnerships The fantasy sports industry has witnessed many partnerships as well as Strategic Collaborations with Different Stakeholders in the past few years. Some of them include collaboration of Game Credits with Fanduel for presenting free World Cup tournaments & partnership of MATTER with FSTA and Fanduel for bringing engagement and purpose to the fantasy sports industry. Many more such worthwhile partnerships and collaborations are expected in the year 2022 which will contribute to boosting up the growth of the fantasy sports industry globally.
- Growing Marketing and Advertising Spend There is a significant spend on advertising and marketing methodologies for fantasy sports industries which is ultimately contributing towards the enhancement of the fantasy sports industry. The crucial announcements such as lifting up of ban on fantasy sports ads by Google in certain states of the US also boost up the advertising campaigns of fantasy sports. The growing advertising and marketing campaigns lead to more popularity of this lucrative industry and drive more count of audience towards it.
- Increasing Interests of the Millennial The millennials are born with the Internet as well as digitalization and thus can’t imagine the world without it. Such high-tech generations are always inclined towards something skillful and innovative hence they find fantasy sports a bit interesting and tricky. This interest graph is expected to witness a remarkable upsurge in the upcoming year of 2022 with more enhancement in the fantasy sports industry.
- Increased Count of Sports Events that are Organized Worldwide Increasing count of sports events worldwide contributes in the growth of the fantasy sports industry significantly.
- Urge of Participation The urge of participation rather than just watching the sports events has hiked the bar of fantasy sports market significantly. Nowadays people are more keen towards participating in a sport, showcase their gaming skills and getting rewarded for it. But it is practically not possible for them to get into the gaming arena of real sports thus to bring their fantasy into reality, fantasy sports has proven to be a one-stop solution. Thus, the urge of participation of fantasy sports enthusiasts brings greater engagement.
- Technological Advancements & Availability of Trusted Streaming Partners Various technological advancements have led to the enhanced count of audiences for fantasy sports. Development of ultra-modern fantasy sports platforms make it quite convenient for the players to take part in fantasy sports contests. Multiple state-of-the-art features such as achievement badges, loyalty programs, etc bring more engagement to the people. Availability of various reliable streaming partners also contribute to enhancing the popularity of fantasy sports.
- Increasing Penetration of Internet & Adoption of Smartphones Higher Internet penetration will definitely drive the fantasy sports market in the upcoming year of 2022. Combining the increasing usage of the Internet with the emergence of easily affordable and available smartphones will lead to an exponential increase in the participation of players in fantasy sports.
- Competitive Landscape The market of fantasy sports seems to be fragmented because of the existence of multiple competitors in the industry. With the presence of a myriad of competitors in the fantasy sports industry, it becomes quite difficult for different brands to establish their unique presence. Thus, they keep on striving hard to integrate state-of-the-art and trending features in their platform which in turn create a competitive and enhanced landscape for the fantasy sports industry.
- Fantasy Sports Platform Development Several new fantasy sports platform development companies have been established in the past few years and many more are expected to be launched in 2022. Thus fantasy sports businesses will get multiple options for getting their own fantasy sports platform developed in an efficient manner.
- Growing OTT Platforms The increasing popularity of the OTT platforms will augur well for the segment of fantasy sports. The combination of fantasy sports and OTT platforms will prove to be a precise match for the entire entertainment business and will eventually contribute in boosting the growth of the fantasy sports industry.
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Fantasy Sports Market Segmentation
- By Sports The segmentation of fantasy sports market by sports is as follow:
- Football (78 %) 
- Baseball (39 %) 
- Basketball (19 %) 
- Hockey (18 %) 
- Soccer (14 %) 
- Golf (13 %) 
- Fantasy esports (11%) 
- Participate in fantasy Bachelor (5 %) 
The increasing popularity of Football globally proves to be a major cause for its highest share in the fantasy sports market segment. In 2018, this segment captured nearly half of the market in 2018. Higher fan engagement also contributes in driving the market segment of fantasy Football. Strategic partnerships and supporting products launch across the fantasy platforms are the major contributors in raising standards and enhancement of fantasy Basketball across different countries.
- By Gender As per gender, fantasy sports market can be segmented as:
-Male (81 % )
-Female (19 % )
Men have always been more receptive towards sports and games thus the male segment always accounts for major share market of fantasy sports. However the female segment is also growing rapidly and the major reason for it is the increasing awareness about the fantasy sports and launch of women-centric sports.
- By Geography Segmentation of fantasy sports as per the geography is as follow:
- North America
- South Korea
- Latin America
- South Africa
- Saudi Arabia
Increasing tech-savvy clients and affinity towards the fantasy sports businesses has lead to increased growth of industry in North America. The legalization of DFS format in several states of US including Indiana, New York, Vermont, Maryland, Arkansas, Virginia, etc will boost up the industry growth in forecast period. The factors such as ease in regulation, technological advancements and strategic partnerships will contribute in enhancing the market value of fantasy sports in the US. The higher inclination of people towards the different categories of sports is driving the fantasy sports market of Europe. The market of fantasy sports in Japan, India, Indonesia, China and South Korea are witnessing great surge in the demands because of higher engagements of millennials, more count of sports events and growing digitization in the developing countries. Reasonable opportunities are offered for the vendors by the Latin American fantasy sports market. Vendors have opted different strategies of marketing to develop the online platforms for catering the region’s untapped audience that will lead to noticeable growth of market in the upcoming year of 2022.
Expected Queries of Fantasy Sports Businesses in 2022
The revenue of the fantasy sports market is expected to reach nearly 32078 million USD in the year 2025.
What is the possible rate of growth of the fantasy sports industry in the upcoming time?
The revenue of the fantasy sports market was nearly 15680 million USD in the year 2019 and is expected to grow at 12.67% CAGR in the year 2021-2025 & reach nearly 32078 million USD in the year 2025.
Has the fantasy sports industry witnessed growth or declination in the past 5 years in the US?
The size of fantasy sports has grown on average 2.4% per year in the US between 2015-2020.
What is the comparison between the fantasy sports industry and other industries in terms of growth?
The fantasy sports industry has grown exponentially and its market size has also increased significantly as compared to the other industries and has also witnessed multiple technological advancements and partnerships.
What is the biggest growth opportunity in the fantasy sports industry?
The count of online services perfectly depict the increasing usages of Internet by the businesses and consumers for the services that used to get paid in physical form. Thus the rise of Internet penetration and migration of consumers to online sources signify a revenue uptick of fantasy sports industry as the online gaming activities will become more popular.
Which factors can affect the growth of the fantasy sports industry?
The factors that can affect the growth of the fantasy sports industry are the growing count of mobile users, legalizations and fantasy sports software development companies.
How to Accelerate the Growth Rate of your Fantasy Sports Business in 2022?
- Stay Updated with Industry Trends The fantasy sports businesses must keep themselves updated with the trends of the fantasy sports industry in order to ensure that they cover all the state of the art features in their platform.
- Choose a Suitable Geographic Location of Operation Before proceeding towards further steps of fantasy sports businesses, one must opt for a suitable geographic location of operation where there is possibility of great count of interested audience.
- Understand your Target Audience Having a deep understanding of the target audience is one of the most crucial factors for accelerating the growth of fantasy sports businesses. You must analyse the exact requirements of your users so that you inculcate all the on-demand and trending features in the software.
- Integrate Multiple Major Sports in Platform The fantasy sports platform must be integrated with all the major popular sports so that all the audience with different sports interests can get covered.
- Opt for a Reliable Fantasy Sports Software Provider You must opt for a reliable and renowned fantasy sports software provider so that you can get a feature-rich and ultra-modern fantasy sports software for engaging more users towards it.
- Pay Deep Consideration to Marketing and Promotional Strategies Along with the development of fantasy sports software, you must also pay deep consideration to the marketing and promotional strategies for establishing your brand presence.
- Go for Fantasy Sports Mobile App Development Witnessing the current scenario of mobile users, the businesses must consider getting a fantasy sports mobile application for attracting more users towards their platform.
How to Choose a Reliable Fantasy Sports Software Development Company in 2022?
- Research for Reliable Companies You must choose a reliable and dependable company that can serve you with the best possible fantasy sports software solutions within the specified time frame.
- Opt for a Team of Technically Sound Professionals Opting for a team of technically sound professionals can ensure you for getting a well-functioning and feature-rich fantasy sports platform.
- Count on Fantasy Sports Industry Experts You must consider a team of fantasy sports professionals who are well-versed with the on-going trends of the fantasy sports industry and are capable of integrating state-of-the-art features in the platform.
- Collaboration with Reliable Third-Party Providers The fantasy sports businesses must count on the companies that are collaborated with the reliable and renowned third-party providers of data feeds, payment gateways, etc.
Need Feature-rich Fantasy Sports Software?
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Which are the Different Non-Sports Categories in Fantasy Sports?
Which are the Major Requisite Features that must be Integrated in a Fantasy Sports Software?
- Leaderboards Integration of state-of-the-art leaderboard in the fantasy sports software helps in perfectly depicting the winning outcomes of the players at various gaming levels.
- Exciting Game Types The fantasy sports software must cover all the major exciting game types for enticing major count of users.
- Multiple Draft Types Various draft types such as auction draft, offline draft, etc must be covered in the fantasy sports software.
- Best Data Feeds The platform must be integrated with the best data feeds provided by the reliable data feed providers.
- Live Field View The feature of live field view enables the users to get the perfect view of the fantasy sports gaming arena.
- Live Score Updates Live scores updates help the fantasy sports players in having a perfect and profitable gameplay.
- Robust Payment Gateways Integration of safe and multiple payment options is one of the most crucial feature of fantasy sports software.
- Mobile Responsive The fantasy sports software must be mobile responsive for the convenience of the various mobile users.
- Analytics Dashboard A comprehensive analytics dashboard is a necessary feature of the fantasy sports platform.
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GammaStack: One-Stop Destination for a Feature-Rich Fantasy Sports Software
Popular fantasy sports game formats include daily, weekly and season-long.
Popular non-sports categories in fantasy sports include esports, politics, reality TV, celebrity leagues, etc.
Some of the necessary features in a fantasy sports software include:
- Multiple Draft Types
- Live Field View
- Different Game Types
- Referral Bonuses
Different fantasy sports draft types include auction draft, offline draft, salary caps, live draft, pick’ems, auto draft, etc.
GammaStack is one of the most renowned fantasy sports software provider which offers advanced fantasy sports platform integrated with all the necessary and ultra-modern features.