Despite fantasy sports being more popular in the United States, more countries have embraced it worldwide. It has a growing fan base globally. Statistics show that the value of the global fantasy Sports market was $27.2 Billion in 2022, and it is expected to reach $76.51 Billion by 2030.

This 13.8% CAGR growth is attributed to many things. Some include a growing sports fan base, improved digital infrastructure, and legal acceptance, among other factors. Let us take you through each in detail below.

What is A Fantasy Sport?

It is an online game you play by assembling virtual or imaginary teams of actual players of professional sports. Fantasy sports games are structured as paid competitions, and the winner receives a share of the pot funded by your entry fees. They date way back to the 19th century, although they were still in the initial stages and under testing.

For example, Wilfred Bill Winkenbach, a businessman in Oakland, California, developed a fantasy golf and baseball game in the 1950s. Sociologist William A. also followed with a baseball Seminar League in 1960. However, fantasy sports games have greatly improved with today’s technological advancements.

They are considered as a form of gambling but face fewer restrictions than other forms like online sports betting and casino gaming. Fantasy sports are viewed as games of skill and not chance, thus being exempted from gambling regulations and bans in many states. The most popular are Fantasy football, baseball, cricket, and basketball. You can play them on the PC and mobile devices.

Factors For the Increasing Popularity of Fantasy Sports Globally

1. Growing Sports Fan Base

Various sports are popular globally and have a growing fan base that is picking interest in fantasy sports. For instance, football currently has over 3.4 Billion fans worldwide. Cricket follows it with over 2.5 Billion, hockey with 2 Billion, and tennis with 1 Billion fans.

Many fans have the urge to be part of the sports. This ranges from watching the events to betting on them and participating in the games through fantasy sports. They prefer to use their skills and knowledge for a reward in predicting their favorite sport.

2. Improved Digital Infrastructure

The digital infrastructure has improved globally. Many people now own smartphones, tablets, laptops, and PCs on which they play fantasy sports games. Not only that but there’s also widespread internet access that enables them to access various gaming platforms.

For example, countries like Australia have the cheapest data in the world. This means it is less expensive for Aussies to play fantasy sports games. The United States also has stable internet connections that promote smooth gameplay. Many fantasy sports websites have also developed apps for seamless mobile gaming experiences.

The apps are easy to download and install and are accessible on different devices, such as Android and iOS. Other gambling platforms like sportsbooks and top online casinos have also embraced mobile apps to give customers better experiences. Fortunately, you can easily find the latter when you read the expert reviews at https://www.gambleonlineaustralia.com/casino/reviews/. They have the best mobile-compatible casinos with a variety of games and outstanding promotions.

3. Legal Acceptance

Fantasy sports games are allowed legally in many countries across the globe. So, many people play them freely without strict regulations. In the United States, they are legal in 45 states, including Alabama, Arkansas, California, Arizona, and Alaska. The Unlawful Internet Gambling Enforcement Act 2006 grants the games a specific exemption from the general prohibition on gambling.

Additionally, fantasy sports games are legal in Australia. They are considered betting activities, which are legal in the country. However, they are subject to interstate and territory gambling regulations.

Other countries like the UK, France, Italy, Spain, India, and Germany are also big markets for the fantasy sports industry and have less strict regulations. The favorable legal terms are promoting its growing popularity.

4. Increased Investment

Many investors picked interest in Fantasy sports worldwide and are heavily financing the industry. They have joined it through mergers, buying shares, creating partnerships, and offering virtual platforms for participating in various contests.

Some of the world’s top Fantasy Sports companies include FanDuel, DraftKings Inc., and Stats Perform in the United States. Dream11 and Gameskraft in India and The Courier-Mail and Draftstars in Australia as listed at https://www.inven.ai/company-lists/top-21-fantasy-sports-companies.

The fantasy sports companies are also investing heavily in marketing. They use several advertising strategies on different digital channels to win new customers and re-engage dormant ones. This includes content marketing, email marketing, sponsorships, affiliate marketing, and social media marketing.

5. Emergence of Many Sports Leagues

Fantasy sports covers a variety of top sports leagues around the globe that attract many players. They range from daily and weekly to season-long commitments. Most of them, like the NFL, have several participating teams, as explained at https://www.nashuatelegraph.com/wire/?category=2921203&ID=319393. They give players a wide choice on their gaming adventures and can choose their favorite teams and leagues. Others include NBA, A-League, AFL, and NRL.

Best of all, they are available for both free play and real-money entry on most platforms. You can try out any league for free before playing it with real money.

Fantasy Sports are Growing in Popularity Globally

Besides North America, where the fantasy sports market is most dominant, it is growing in popularity globally. Many states in Europe, Asia Pacific, South America, the Middle East, and Africa embrace it. This explains the increasing market value of fantasy sports as it enters new markets.