North America Fantasy Sports Market to 2027: Key Players Include DraftKings, Fan Duel, Yahoo Fantasy Sports, CBS Sports and ESPN – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “North America Fantasy Sports Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)” report has been added to ResearchAndMarkets.com’s offering.

The North America Fantasy Sports Market is expected to grow at a CAGR of 10.7% over the forecast period 2021 to 2026.

Key Highlights

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.

Also, according to the same source, the number of mobile broadband 5G connections is projected to grow to 391 million by 2025 in North America. It is predicted that 5G will enhance the performance by 100 times faster than 4G networks that will provide a better user experience and drive the fantasy sports market.

The launch of various fantasy sports apps will be one of the significant factors driving fantasy sports market growth. Fantasy sports apps enable a more productive, comfortable, and better game experience, allowing players to create a private league, join public leagues, player rankings, projections, offer performance tracking, material design, mock drafts, and other features.

According to the Fantasy Sports Trade Association (FSTA), there were 59.3 million fantasy sports players in the United States in 2018. During a December 2019 survey conducted by Capgemini, 58% of respondents aged 18 to 27 stated that they watched sports content via over-the-top streaming platforms such as Hotstar, ESPN+, or Hulu.

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 the 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 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/handling 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.

Companies Mentioned

• DraftKings Inc.
• Fan Duel Group
• Yahoo Fantasy Sports
• CBS Sports
• ESPN

For more information about this report visit https://www.researchandmarkets.com/r/98swc9

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