Market Trends of North America Fantasy Sports Industry
This section covers the major market trends shaping the North America Fantasy Sports Market according to our research experts:
Daily Fantasy Sports to Dominate the Market
- Though it is still an emerging industry in the region, the Supreme Court struck down the Professional and Amateur Sports Protection Act two years ago, and sports betting has been legalized nationwide. Sports betting was outlawed under PASPA, except for Nevada and a few other states. States are now free to legalize sports betting and begin their initiatives after the ban was overturned. The business sector has been booming and on fire. Since last year, the market has expanded from 19 states to 32 states plus Washington, D.C.
- According to Vox Media, LLC., The DFS industry is currently dominated by two companies, DraftKings and FanDuel, which 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, DraftKings has outdone it for the No. 1 spot, with Yahoo Daily Fantasy and FantasyDraft vying for No. 3.
- According to YouGov America and their analysis reveals that 15% of U.S. adults over the age of 21 indicate they have participated in fantasy sports at least once in the last 12 months, with 21% of men and 8% of women. Ages 25 to 44 comprise the majority (58%) of gamers. Around 30% more people who reported a gross household income over US$80,000 in the past year played fantasy sports.
- The introduction of regulated sports betting in North Carolina was done in March last year. The opening occurred after Gov. Roy Cooper approved two years ago to "enable sports and horse race wagering on tribal grounds," which was classified as a "Class III" gaming activity under the state compact. The new rule authorizes betting on college and professional sports, but all gamblers must do so in person at one of two retail establishments.
- While daily fantasy football has forever been king in DFS, daily fantasy basketball has become much more prominent in recent years. A fantasy based on the NBA is much like it is for the NFL. The legitimacy of daily fantasy sports is currently the most significant issue in the region. In most utmost jurisdictions globally, DFS has recognized a gambling product and needs a gaming license to run. In North America, the legality of DFS is usually manageable.
Understand The Key Trends Shaping This Market
Download PDF
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. As we advance, 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.
Get Analysis on Important Geographic Markets
Download PDF
