According to a new market research report published by The Business Research Company, the global fantasy sports market is expected to grow from $20.36 billion in 2020 to $22.31 billion in 2021 at a compound annual growth rate (CAGR) of 9.5%.
The global fantasy sports market is mainly due to the increase in the number of young people, the growth of digital infrastructure, the availability of mobile gadgets, as well as the increase in the popularity of players in various sports, the influx of investments in Internet infrastructure and the development of fantasy sports applications. The market is expected to reach $38.6 billion in 2025 with an average annual growth rate of 14.7%. A growing youth population has a global impact on boosting growth the global fantasy sports market.
Interestingly, this market is built on the sale of fantasy sports services by legal entities (companies, private entrepreneurs, partnerships) that are engaged in providing online games and interactive betting services.
Fantasy sports: what is it and how to play
Fantasy Sports is a virtual game based on real sports competitions. Fantasy sport, less commonly known as grill or roto, is a type of game, most often over the Internet, where participants assemble imaginary or virtual teams from real professional sports players. Teams compete at the base statistical indicators of these players in real games. Then the result is converted into points, and then it is formed and summed up according to the list selected the manager of every fantasy team. These scoring systems are often quite simple to be manually calculated by the “league commissioner” – coordinating and managing the league generally.
Or points can be taken and calculated using computers that track the actual results of professional sports. In fantasy sports, creators teams are recruited, traded and discarded, just like in a real sport. Fantasy managers unite players into virtual teams that bring points for successful actions in real matches, for example, in football, are goals, assists and cleansheets.
Fantasy tournaments are won by the team with the most points. In fantasy competitions, each athlete is given a price (or salary) and a general salary cap is set, which cannot be exceeded when forming a team. The team is not it will be possible to take only the strongest players, since cheap and promising players are always required.
Why play fantasy sports Fantasy sports increases interest in watching matches and changes perception
games – members of their fantasy team are usually watched more closely, fearing substitutions and watching the match to the end, regardless of the number of points scored.
With active game, your favorites appear among little-known players, an emotional connection arises with them, and it becomes more and more interesting to watch non-status meetings. The games of outsiders are sorted out, the fate of prize money for winning a fantasy tournament is being decided. For top managers, fantasy sports can become the main source of income, and
each tour can bring in tens of thousands of dollars. The abundance of sports and types of competition in fantasy sports makes i possible for everyone to find their own profitable niche
Making a fantasy team with the right to win turns into a sports puzzle with a variety of extraordinary solutions.
Due to a number of restrictions, new, unique strategies, and teams of managers can behave differently within the same championship. In this intellectual competition, there is only one the right decision and there is always room for creativity.
Seasonal and daily fantasy Fantasy sports, in turn, can be classified into two types: seasonal and daily.
Seasonal tournaments are held for a long time, covering major competitions – a national championship or a world tournament. Competitions are divided into rounds, and the cost of players between
they are not significantly changed, as are the teams of fantasy managers. More often than not, a manager needs to carefully and reasonably make long-term decisions.
The most famous example is the Fantasy Premier League, the official seasonal fantasy sport of the English Premier League. Daily tournaments are short-term matches. They can be single-match tournaments or competitions for one round. In each round, the cost of players is significantly
changes, and managers create completely new teams.
Take FanTeam, Europe’s premier daily fantasy venue, as a well-known example.
Global Fantasy Sports Market Trends Major players who operate in the Fantasy Sports sector have focused on
AI (artificial intelligence) technologies to make fantasy sports trading easier.
For example, in September 2020, IBM and ESPN showed the world a new app feature
for fantasy football, using IBM Watson AI to generate fair transactions and keep players informed. This option is being developed to make fantasy football more interesting.
The global fantasy sports market is divided into:
- by sport, platform,
- type of use
- application and geography.
- football, baseball,
- basketball, hockey, cricket, others.
- website, mobile application.
- By type of use: free, paid, combined method.