The North America Fantasy Sports Market is expected to grow at a CAGR of 10.7% over the forecast period 2020 to 2025.
– The growing fame of players in different sports, the popularity of football, increasing investment in internet infrastructure, and the launch of fantasy sports applications are the principal determinants that will give tremendous growth possibilities to the region.
– For instance, as per GSMA Intelligence, North America was ranked third with an online penetration rate of 88% as of January 2020. Besides, according to Zenith Optimedia, in 2018, the average daily minutes of North American internet consumption per capita amounted to 237 minutes.
– According to Hootsuite Inc., as of January 2020, there were approximately 246.3 million mobile internet users in the United States. The total online audience amounted to over 288 million active internet users. Overall, internet users accounted for 87% of the population.
– The evolution of 5G technology in 2020 is presumed to improve wireless network investment in infrastructure. According to FierceWireless (Questex LLC), the number of 5G connections is projected to grow to 410 million by 2025 in North America.
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Key Market Trends
Daily Fantasy Sports to Dominate the Market
– Though it is still an emerging industry in the region, according to the American Gaming Association legal sports betting has already seen more than USD 17 billion in wages and USD 1.2 billion in revenue, in just 14 states where sports betting is legal, and data is available since the Supreme Court reversed a decades-long federal ban in June 2018. Companies like Virginia-based company Eaglestrike Fantasy Sports have fantasy kiosks in sports bars across five states, and hosts live fantasy competitions.
– According to Vox Media, LLC., The DFS industry is currently dominated by two companies namely DraftKings and FanDuel who account for more than 90% of market share in the United States. While FanDuel was one of the chief movers in the DFS space and the clear business leader through early 2015, DraftKings has outdone it for the No. 1 spot, with Yahoo Daily Fantasy and FantasyDraft vying for No. 3.
– The Fantasy Sports Trade Association (FSTA) states that the daily Fantasy Sports generated USD 2.91 billion in 2018 in the United States. The entire market was worth USD 7.22 billion in the same year. According to New York State Gaming Commission, in March 2018, total entry fees/handle from daily fantasy sports in the United States amounted to USD 236.51 million, thus presenting lucrative opportunities for the market vendors.
Football to Drive the North America Fantasy Sports Market
– The two most-prominent fantasy sports in the United States, where the majority of fantasy sports are played, are fantasy baseball and fantasy gridiron football. Football by itself accounts for the largest share in the fantasy Sports Market, owing to increased attendance for football leagues, such as GOPPPL (Greater Oakland Professional Pigskin Prognosticators League), National Football League (NFL) and American Football League.
– North America presently holds the maximum football fantasy sports market and going forward, it will account for notable growth due to economic growth, the increasing demand for football, a growing number of internet-accessible tools, and sports sponsorships. For example, in 2019, the National Football League (NFL) confirmed a multi-year deal with DraftKings and became the first official daily fantasy partner with exclusive sponsorship on NFL branding and other combinations across its platforms.
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