Fantasy Sports Market - By Sports Category (Team Sports, Individual Sports), Platform (Mobile Applications, Web-based Platforms, Console/PC Games), Game Format Daily Fantasy Sports, Weekly Fantasy Sports, Season-long Fantasy Sports) & Forecast, 2024 - 2032

Fantasy Sports Market Size

Fantasy Sports Market size was valued at USD 29.85 billion in 2023 and is anticipated to grow at a CAGR of over 15% between 2024 and 2032, driven by the increasing popularity of sports and the expanding digital landscape. For instance, in December 2023, fantasy sports companies in India experienced significant growth due to the cricket World Cup. Platforms like Dream11 and SportsBaazi saw up to 60% increases in active users and substantial revenue boosts. Dream11 surpassed 200 million users, reflecting a booming market driven by high traffic and advertising.
 

With sports solidifying their global appeal, fans are increasingly turning to interactive platforms for a more engaging experience. Fantasy sports stand out, allowing enthusiasts to actively engage with their beloved sports, fostering a deeper connection. The surge in mobile technology and online platforms has significantly eased access to fantasy sports services, propelling the market's growth.
 

Daily fantasy sports (DFS) platforms are a key driver of growth in the fantasy sports market. Unlike traditional season-long leagues, DFS enables users to craft new teams for each game or week, offering a more dynamic and immediate engagement. This approach has broadened the audience, attracting not only committed players but also casual participants intrigued by short-term, high-stakes contests. The allure of DFS, bolstered by extensive marketing and promotions, has fueled its swift expansion.
 

The fantasy sports market encounters a diverse and intricate regulatory environment across various regions. Regulations for online gaming, betting, and fantasy sports vary widely between countries and states. This regulatory diversity presents compliance challenges for operators, who must navigate and adhere to multiple legal frameworks. In certain areas, fantasy sports may fall under gambling laws, leading to stricter regulations and increased compliance costs.
 

Ensuring user retention demands continuous efforts to captivate and meet their needs. This entails rolling out frequent updates, introducing fresh features, and crafting personalized experiences to sustain user interest and activity. Platforms need to prioritize user engagement strategies, including loyalty programs, tailored promotions, and clear communication, to nurture a loyal user community. Neglecting these efforts risks users migrating to rival platforms, directly affecting revenue and impeding long-term growth.
 

Fantasy Sports Market Trends

Artificial intelligence (AI) and machine learning are increasingly shaping the landscape of the fantasy sports industry. These technologies are revolutionizing user experiences, offering advanced player analytics, predictive models, and tailored recommendations. By sifting through vast data sets, AI algorithms refine team selections, elevating gameplay to new levels of strategy and engagement. Moreover, AI-powered chatbots and customer service tools are bolstering user support, ensuring swift issue resolutions. This surge in AI adoption not only attracts new users but also cements loyalty among existing players, fostering more interactive and data-rich gameplay.
 

For instance, in October 2023, ESPN enhanced its fantasy football platform using AI models from IBM's watsonx. These models, leveraging neural networks and natural language processing, provide advanced features like Waiver Grades and Trade Grades. The integration aims to offer deeper insights and personalized recommendations, significantly improving decision-making and user engagement for the 11 million fantasy managers.
 

Fantasy Sports Market Analysis

Based on platform, the market is divided into mobile applications, web-based platforms, and console/PC games. The console/PC games segment is expected to reach a value over USD 10 billion by 2032.
 

• The console and PC gaming markets benefit from high-quality graphics, advanced gameplay mechanics, and immersive experiences that attract a dedicated gaming audience. These platforms are often preferred by serious gamers who seek a more engaging and comprehensive gaming experience compared to mobile or web-based options. The ability to support high-performance hardware, such as powerful GPUs and expansive storage, further enhances the appeal of console and PC games.
   
• The rise of esports and competitive gaming has significantly contributed to the growth of the console/PC games segment. Major tournaments, professional leagues, and streaming platforms have elevated the profile of console and PC games, driving increased consumer interest and investment in these platforms.
   

Based on game format, the fantasy sports market is divided into daily fantasy sports, weekly fantasy sports, and season-long fantasy sports. The daily fantasy sports segment is the fastest growing segment with a CAGR of over 15% between 2024 and 2032.
 

• The format's short duration and immediate results appeal to users looking for quick and frequent gaming experiences. The flexibility of daily fantasy sports allows users to join contests and draft new teams daily, providing more opportunities for participation and engagement.
   
• The segment benefits from increased media coverage and partnerships with major sports leagues, enhancing its visibility and attractiveness. Lastly, advancements in mobile technology and user-friendly platforms make it easier for players to access and participate in daily fantasy sports, further fueling its expansion.
   

North America dominated the global fantasy sports market in 2023, accounting for a share of over 30%. The increasing popularity of sports like football, basketball, and baseball has spurred greater interest in fantasy sports. Technological advancements, including enhanced mobile applications and advanced data analytics, provide users with sophisticated tools and real-time insights, thereby making the fantasy sports experience more engaging and strategic.
 

The US fantasy sports market is experiencing robust growth, firmly embedded in the country's sports culture. Driven by a passionate sports fan base and increasing interest in betting, fantasy sports platforms provide an engaging medium for fans to connect with their favorite teams and players. Additionally, the recent legalization of sports betting in several states has significantly bolstered the market, enhancing the overall user experience.
 

In China, the fantasy sports industry is rapidly expanding, driven by the country’s growing sports enthusiasm and increasing internet penetration. The rise of sports events like the Chinese Basketball Association (CBA) and the China Super League (CSL) has heightened interest in fantasy sports platforms.
 

South Korea’s fantasy sports market is experiencing notable growth, fueled by the country’s vibrant sports culture and the popularity of esports. The integration of fantasy sports into mainstream media and sports broadcasting has increased awareness and participation. Additionally, the country's high smartphone penetration and tech-savvy population are driving the adoption of fantasy sports apps. Companies are innovating with features tailored to local sports preferences, such as Korean Baseball Organization (KBO) fantasy leagues, which cater to the strong local interest in baseball.
 

In Japan, the fantasy sports industry is expanding because of growing interest in professional sports like baseball and soccer. The country’s strong sports culture, combined with the increasing popularity of mobile and online gaming, is driving market growth. Japanese fantasy sports platforms are focusing on major leagues such as Nippon Professional Baseball (NPB) and J. League soccer, offering localized content and features.
 

Fantasy Sports Market Share

DraftKings and FanDuel hold a significant share in the fantasy sports industry. As leaders in the sector, DraftKings and FanDuel offer a range of fantasy sports services, including daily and season-long fantasy games, which attract millions of users. Their success is driven by their user-friendly interfaces, comprehensive game offerings, and robust marketing strategies. DraftKings and FanDuel's prominence is further supported by their partnerships with major sports leagues and media companies, solidifying their positions as the top players in the market.
 

Fantasy Sports Market Companies

Major players operating in the fantasy sports industry are:

• CBS Sports Fantasy
• DraftKings
• ESPN Fantasy Sports
• FanDuel
• Sleeper
• SportsLine (by CBS Sports)    
• Yahoo Fantasy Sports
   

Fantasy Sports Industry News

• In July 2024, Dream11 announced a major upgrade to its fantasy sports platform, integrating advanced AI technology to enhance gameplay. The new AI-powered features are designed to provide deeper player insights and optimize strategies, aiming to elevate user experience and reinforce Dream11's leadership in the Indian fantasy sports industry
   
• In March 2024, a Meta-GWI study revealed that approximately 88% of Indian gamers shifted from real-money games to fantasy sports during major events like the IPL and World Cup. The study highlighted that Meta platforms are key for discovering new games, with AI, VR, and AR technologies garnering significant interest among casual gamers.
   
• In August 2023, Gridiron AI introduced an AI-driven approach to fantasy football, offering predictive models for player rankings. The company's technology reduces human bias by providing data-driven projections and customizable settings, enhancing fantasy football management and player prop bets with more precise, consistent predictions.
   

The fantasy sports market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD million) from 2021 to 2032, for the following segments:

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Market, By Sport Category

• Team sports
  • Football (Soccer)
  • American football
  • Basketball
  • Baseball
  • Hockey
  • Cricket
  • Rugby
  • Others (e.g., Volleyball, Handball)
• Individual sports
  • Golf
  • Tennis
  • Track and field
  • Motorsports
  • Others (e.g., Boxing, MMA)

Market, By Platform

• Mobile applications
  • iOS
  • Android
  • Cross-platform
• Web-based platforms
• Console/PC games

Market, By Game Format

• Daily fantasy sports
• Weekly fantasy sports
• Season-long fantasy sports

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA