Fantasy Sports Market Could Hit $92.61 Billion By 2032

While the growth of standard online sports betting has begun to skyrocket due to spreading legalization, fantasy sports remains popular. In fact, the multi-billion dollar industry isn’t likely to slow down anytime soon, with some projections expecting a huge leap in the next decade. Although the pandemic held back fantasy sports a bit, with the temporary halting of different leagues, the industry came storming back once sporting events returned.

While FanDuel and DraftKings might be some of the biggest names in fantasy sports in the United States, there are plenty of other international platforms driving the industry forward. Let’s take a look at the growth of the fantasy sports industry as well as the current state of fantasy sports in the U.S. and beyond.

Fantasy Sports Is A Billion-Dollar Industry On The Grow

A brand new report on the data surrounding fantasy sports has yielded some fascinating results. According to the Global Fantasy Sports Market Size, Statistics, Trend Analysis, and Forecast Report 2022-2032, fantasy sports was a $21.46 billion industry in 2021. That number will continue to balloon in the coming years, with a projected $92.61 billion industry size by 2032.

The report also broke down the most popular sports for fantasy players. In addition to football (easily the most popular fantasy sport in the U.S.), hockey, baseball, cricket, and basketball were all listed as top fantasy sports choices. Fantasy cricket is especially popular in India, which has itself become a major player in fantasy sports. In fact, India has become the fastest growing fantasy market thanks to its high millennial population and wide userbase of smartphone technology.

What Are The Top Fantasy Sports Companies?

Over the past decade, the U.S. fantasy sports market has shifted a bit with the growth of daily fantasy sports platforms such as FanDuel, DraftKings, and Monkey Knife Fight. The report lists both DraftKings and FanDuel as some of the biggest players in the current fantasy sports industry. Some other major names included on the list were the National Football League, NBC Sports Edge, Fantrax, FantasyPros, GoodGamer, and Dream Sports.

Some other popular fantasy sports platforms include ESPN Fantasy Sports, CBS Fantasy Sports, and Yahoo Fantasy Sports. While each has some sizable userbases, they tend to trend on the more casual side, with a focus on office pools and payment-free leagues.

Other Data To Draw In

One of the most interesting statistics from the report was the massive prevalence of football, as around three quarters of fantasy players participate. That number might drop in the future, as both the National Hockey League and National Basketball Association are becoming more popular in the fantasy sports realm while cricket is seeing a 38% jump in India.

North America is also the biggest continent in international fantasy sports, while 20% of adults in the United States currently engage in fantasy sports or wager on sporting events. As both fantasy sports and sports betting have steadily grown from niche pastimes to massive industries over the years, it will be interesting to see if some projections almost come off as modest going forward.