The Rise of Fantasy Sports
Started from the bottom now we here. Nothing suits fantasy sports better than this! In 1988, about half a million people were interested in Football Fantasy Sports in the US and Canada. By 2015, this number shot up to 56.8 million. One can say millions of young sports aficionados across the world are now hooked on to fantasy sports, and the number is rising rapidly. According to FSTA, Fantasy Sports industry is now worth $7 billion!
Let’s check out some numbers!
● 71% Male // 29% Female
● Average Age: 32
● College Degree or More: 50%
● Have a household income of $75k+: 53%
● Have full-time employment: 67%
● Average Annual Spending Per Fantasy Player (age 18+): $653
● Favorite Fantasy Sport: Football
● Fantasy Sports Players that Pay League Fee: 70%
Fantasy sports players are younger, better educated, with higher household incomes and more likely to have fulltime employment:
The above statistics show how religiously fantasy sports is played. “The fantasy sports industry’s continuing growth demonstrates consumers’ passion for the hobby and their desire to play with friends and family,” said FSTA president Paul Charchian. “We continue to see innovation that broadens the appeal of fantasy sports and data that shows tremendous gains in the scale of participation and economic impact.” Presently, blockchain is embellishing the fantasy sports industry. The blockchain technology is all set to redefine the landscape of fantasy sports industry.
With onset of blockchain, it is expected to see even more bizarre rise of the fantasy sports industry.
As time goes on and technological advancements brace the sports industry, the statistics will keep on evolving. This is one of the reasons why fantasy sports industry is a multi-billion dollar business. Had there been no technology of internet, smartphones, computer languages; one wouldn’t have imagined a day like today. What hooks people to this concept is the remuneration- this is exactly what knowledgeable and passionate participants want. By using this conviction, fantasy sports industry has the most loyal people to them.
In Europe we talk about the art of football, the poetry of football. There’s been a resistance to breaking it down and analyzing it in the past
Professor Stefan Szymanski
The user gets the option to choose from any game they like. There are countless number of games out there which can satisfy the sporty animal inside. With hindsight, the fantasy sports industry is the one which is not going to slow down anytime soon. Until human keeps getting the pump of adrenaline rush within, sports will go on. The worth of this industry will be measured by its performance in the coming times. In future, the industries which rely their backs on technological advancements have always proven to soar higher in nature. Likewise, in the fantasy sports industry, blockchain is stepping in. So are other technologies like artificial intelligence, virtual reality. Ultimately, it’s the user experience that has to be maximised and these technologies act as catalysts. This industry is about to face a very healthy competition among its rivals in the near future. This competition will also give rise to new budding startups. Such an environment will definitely lead to growth of the industry holistically.