Commencing from just 5,00,000 in 1988 to more than 56.8 million in Canada and USA alone, the count of fantasy sports users has grown tremendously in the past few years. 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 togrow at a CAGR of nearly 12% till 2022.
Overview of Fantasy Sports Market
In the initial years, the industry of professional leagues used to stay quite conservative for fantasy sports activities. But in recent years, the view of industry has become more accepting and liberal. Previously, the advent of DFS leagues were dismissed by legal authorities as they felt that players get exploited in the form of assets through such activities. However, due to acceptance by the large populace, the way for different daily fantasy and pro league partnerships has been made by the professional leagues. The market size of fantasy sports is expected to reach beyond $1.5 billion by year 2024 as it’s CAGR growth during 2018-2024 is more than 11%.
Factors that can Contribute in Enhancing Growth of Fantasy Sports Market in 2021
- 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 2021 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 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 2021 with more enhancement in the fantasy sports industry.
- Increased Count of Sports Events that are Organized Worldwide
A myriad of sports events were organized worldwide in 2019 with maximum participation of fantasy sports players. Multiple sports events are lined up for 2021 including:-
– Australia Open(Jan 20- Feb 2)
– Winter Youth Olympics (Jan 9 – Jan 22)
– Masters (Apr 9 – 12)
– IIHF World Championship (May 1 – 17)
– US PGA (May 11 – 17)
– FA Cup Final (May 23)
– NBA Finals (June)
– Wimbledon (June 29 – July 12)
– Euro 2021 Football Tournament (June 12 – July 12)
– Tokyo Summer Olympics(24 July – Aug 9)
and many more.
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 of the people. Availability of various reliable streaming partners also contribute in 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 2021. 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 2021. 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.
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:-
– 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 2021.
Expected Queries of Fantasy Sports Businesses in 2021
- What is the expected size of the fantasy sports market in 2021 in the US?
-As per revenue, the size of the fantasy sports market is expected to be $8.2 billion in 2020.
- What is the possible rate of growth of the fantasy sports industry in the US in 2021?
– The size of the fantasy sports market is expected to increase by 3% in year 2021.
- 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 2015-2021.
- 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 2021?
- 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.
How to Choose a Reliable Fantasy Sports Software Development Company in 2021?
The global market of the fantasy sports market is getting transformed from consolidated to being fragmented and thus the vendors are witnessing an array of opportunities for capitalizing upon. Vendors are also keeping their focus for maintaining the basic fan requirements including interactive user interface, security, fantasy insights, technological leverages and transparency. Further, they are also looking for expansion in new countries and the regions as per the growth of demand and they are also making a try to utilise the digital content creation that is fan-centric for capitalizing upon the rapidly growing fantasy sports market. For choosing a reliable fantasy sports software vendor, you must consider following aspects:-
- 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.
Which are the Major Requisite Features that must be Integrated in a Fantasy Sports Software?
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.
All the aforementioned features are perfectly covered in the fantasy sports platform developed by GammaStack. We offer a feature-rich and futuristic fantasy sports software that is integrated with all the requisite features that can be customized completely as per the requirements of clients. Backed by a team of innovative and tech-savvy designers and developers, we are capable of offering you a feature-wrapped and state-of-the-art fantasy sports platform. We aim at serving our valuable clients with best possible solutions without burning holes in their pockets thus we follow zero revenue share policy that distinguishes us from other competitors of the industry.