Fantasy Sports Market Size (2024 - 2029)

Fantasy Sports Market Analysis

The Fantasy Sports Market size is estimated at USD 32.75 billion in 2024, and is expected to reach USD 62.58 billion by 2029, growing at a CAGR of 13.83% during the forecast period (2024-2029).

Fantasy sports have become a prominent social phenomenon. The sport's increasing importance at an elite level attracts large investors, fantasy players, and fans alike. From draft parties to brand marketing and sponsorships to playoffs, fantasy sports engage fans with the competition.

A shift in the sporting culture has occurred over recent years with the introduction of several sports leagues, including badminton, football, rugby, basketball, and volleyball. In different countries, the growth of sports has been accelerated by technological progress, increasing use of smartphones, and internet penetration. With an increasing number of individuals participating in, discussing, or playing these sports, an enthusiastic fan base has developed, shaping how fans engage in sports and fueling the growth of fantasy sports.

Sports technology will create opportunities for highly qualified software engineers, data scientists, and cybersecurity professionals. It will likely increase the number of viewers, sponsors, and participation in sporting events, directly impacting sports development.

The growing popularity of players, the emergence of sports leagues, increasing investments in digital and internet infrastructure, and the launch of fantasy football applications to connect with their favorite sporting activity are driving the market growth.

More users should be encouraged to participate in fantasy sports due to awareness about their legality. In parallel, fantasy sports operators are beginning to actively market their products and make a conscious effort to ensure the integrity of their websites or applications by cooperating with professional football leagues.

Despite the problems caused by the COVID-19 pandemic in some fantasy leagues, these leagues continued to operate despite the shortened professional season. Despite the pandemic, the long-term prospects for fantasy sports are anticipated to remain positive. Due to increased interest in legalizing sports betting in the United States, the market has been experiencing a major influx of new players and well-financed new start-ups.

Fantasy Sports Industry Segmentation

Fantasy sports are online games where participants create virtual teams of real-life professional athletes. The market defines the revenue from the sales of fantasy sports platforms and services.

The fantasy sports market is segmented by type (football, baseball, cricket, basketball, and car racing), platform (website and mobile application), demographics (under 25 years, between 25 and 40 years, and above 40 years), application (individual competition and team competition), and geography (North America, Europe, Asia-Pacific, and Rest of the World). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.