U.S. Fantasy Sports Market - Focused Insights 2023-2028

Published Date :  DEC 2023

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Despite stringent regulations, fantasy sports carve a niche, with billions spent across categories. With a favorable market environment, inclusive participation from women, and the digital fluency of Millennials and Gen Z, the market is poised for transformational growth. Key strategies include the DFS model, strategic alliances, and technological advancements, shaping the future of fantasy sports in the US.

The US fantasy sports market is on an impressive growth trajectory, valued at $3,457.76 million in 2022 and expected to reach $6,866.67 million by 2028. This reflects a Compound Annual Growth Rate (CAGR) of 12.11% during the forecast period.

As the US remains the epicenter of the fantasy sports industry, major players like FanDuel, DraftKings, ESPN, Yahoo, and CBS give the market a significant impetus. The Fantasy Sports & Gaming Association (FSTA) also plays a pivotal role in the industry's growth, serving as the sector’s guiding body.

Innovation, such as introducing the Daily Fantasy Sports (DFS) model and the popularity of major leagues like the NBA, MLB, NFL, and NHL, drives user engagement and market expansion. Despite the stringent rules and regulations against gambling, fantasy sports have found a unique niche, with fans spending billions across various fantasy sports categories.

The market environment is favorable for vendors, and transformational growth is expected, with relaxing regulations and technological advancements paving the way. The participation of women in fantasy sports is surging, boosted by social media and targeted advertising, indicating a market that is becoming increasingly inclusive.

Millennials and Gen Z are pivotal to the market’s expansion. Digital fluency and an appetite for interactive, tech-driven entertainment distinguish these demographics as key contributors to the industry’s future.

The immense popularity of American football has translated into a large, dedicated audience for fantasy sports versions of the game. Similarly, fantasy baseball enjoys widespread engagement among fans familiar with the various play formats.

Mobile apps have revolutionized the fantasy sports experience, offering real-time updates and strategic tools for users to manage their teams on the go, enhancing engagement and market growth.

The US fantasy sports market is competitive, with key players dominating it and focusing on strategic alliances and technological advancements to maintain their positions and attract a broader user base. Companies like FanDuel, DraftKings, Yahoo, and ESPN are at the forefront of this dynamic market, shaping the future of fantasy sports in the US.

KEY HIGHLIGHTS:

  • Fantasy sports has witnessed considerable growth in the number of users engaged in playing the various contests being offered by vendors. With the advent of the DFS model, key vendors, namely FanDuel and DraftKings, have garnered successful fan attention.
  • The key strategy for their growth has remained the extensive offerings of fantasy sports categories, along with additional supportive information that enables fans to make real-time decisions regarding team selection and contests being entered. Furthermore, in the coming years, one can expect the market for fantasy sports to witness significant growth owing to the innovative business models being offered and a consistent chain of users engaging with their platforms.
  • Unlike the traditional fantasy sports model, where players mostly play with their co-workers or peers, the DFS model enables them to play online with thousands of other players. This, in turn, is expected to raise the demand for higher fan engagement and, subsequently, the growth of the fantasy sports business across the nation.
  • Considering that millennials are the largest adult generation in the most powerful country of the world (the US), the market in the region has become a soft target for fantasy sports vendors to expand their footprint. The digitalizing economy is a boon for fantasy sports vendors owing to the high availability of smartphones across the region.
  • The market for fantasy sports in the US has remained a positive one for the vendors, and this trend is expected to continue during the forecast period. With regulations easing across many states in the US, coupled with technological advancements and strategic partnerships, one can certainly look towards transformational growth for the fantasy sports business in the region.
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Summary

REPORT HIGHLIGHTS

SEGMENTATION & FORECAST

  • Sport (Revenue)
  • Fantasy Football
  • Fantasy Soccer
  • Fantasy Basketball
  • Fantasy Baseball
  • Fantasy Hockey
  • Fantasy Golf
  • Fantasy Cricket
  • Other Fantasy Sports
  • Gender (Revenue)
  • Male
  • Female
  • Platform (Revenue)
  • Application
  • Website 
  • MARKET STRUCTURE
  • Market Dynamics
  • Competitive Landscape of the US Fantasy Sports Market
  • Key Vendors
  • Other Prominent Vendors
  • APPENDIX
  • Research Methodology
  • Abbreviations
  • About Arizton

Vendor List

  • Key Vendors
  • DraftKings
  • FanDuel
  • Yahoo
  • ESPN
  • Paramount
  • Other Prominent Vendors
  • Boom Fantasy
  • FantasyDraft
  • Fantrax
  • NFL (National Football League)
  • Sleeper
  • RealTime Fantasy Sports
  • SportsHub Games Network
  • Fleaflicker
  • The Huddle
  • MyFantasyLeague

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U.S. Fantasy Sports Market Focused InsightsDOWNLOAD SAMPLE

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Table Of Contents

  • Executive Summary
  • Introduction
  • Key Findings

  • US: Projected Revenue of Fantasy Sports Market (2022-2028) ($Millions)

  • US: Projected Revenue by Sport (2022-2028); (Revenue $MN)
  • Sport Snapshot
  • Fantasy Football
  • Fantasy Soccer
  • Fantasy Basketball
  • Fantasy Baseball
  • Fantasy Hockey
  • Fantasy Golf
  • Fantasy Cricket
  • Other Fantasy Sports 
  • US: Projected Revenue by Gender (2022-2028); (Revenue $MN)
  • Gender Snapshot
  • Male
  • Female 
  • US: Projected Revenue by Platform (2022-2028); (Revenue $MN)
  • Platform Snapshot
  • Application
  • Website

  • US Fantasy Sports Market Trends
  • US Fantasy Sports Market Drivers
  • US Fantasy Sports Market Constraints

  • US Fantasy Sports Market - Competitive Landscape
  • US Fantasy Sports Market - Key Players
  • US Fantasy Sports Market – Other Prominent Vendors

  • Research Methodology
  • Abbreviations
  • About Arizton

Exhibit 1: US Fantasy Sports Market ($ million)

Exhibit 2: US Fantasy Sports Market by Sport 2022–2028 ($ million)

Exhibit 3: Market by Fantasy Football 2022-2028 ($ million)

Exhibit 4: Market by Fantasy Baseball 2022-2028 ($ million)

Exhibit 5: Market by Fantasy Basketball 2022-2028 ($ million)

Exhibit 6: Market by Fantasy Hockey 2022-2028 ($ million)

Exhibit 7: Market by Fantasy Golf 2022-2028 ($ million)

Exhibit 8: Market by Fantasy Soccer 2022-2028 ($ million)

Exhibit 9: Market by Other Fantasy Sports 2022-2028 ($ million)

Exhibit 10: US Fantasy Sports Market by Gender 2022–2028 ($ million)

Exhibit 11: Market by Male Fantasy Sports 2022-2028 ($ million)

Exhibit 12: Market by Female Fantasy Sports 2022-2028 ($ million)

Exhibit 13: US Fantasy Sports Market by Platform 2022–2028 ($ million)

Exhibit 14: Market by Application 2022-2028 ($ million)

Exhibit 15: Market by Website 2022-2028 ($ million)

Table 1: Quantitative Summary Projected Revenue of US Fantasy Sports Market

Table 2: Quantitative Summary Projected Revenue by Sport

Table 3: Quantitative Summary Projected Revenue by Gender

Table 4: Quantitative Summary Projected Revenue by Platform

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Frequently Asked Questions

It is projected to reach $6,866.67 million by 2028.

The market is expected to grow at a CAGR of 12.11% during the forecast period.

Major players include FanDuel, DraftKings, Yahoo, and ESPN, among others.

Factors include the introduction of the DFS model, the popularity of major sports leagues, technological advancements, and the easing of regulations across states.

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