The market of Fantasport
FANTASPORT MARKET - All of us have dreamed at least once to take the field with our sports idols and win important goals with them. Or how many times have we seen a match sitting comfortably on the couch and shouted coaching advice to the players on the field? With Esports and Fantasports realize both active and coaching situations. The markets of both are worth a lot of money and each have more and more. We start for example from fantasports that from a simple passion and pastime t have put on a real market that is worth a lot of money.
What are the fantasports
Fantasports are games in which participants create virtual sports formations, choosing their athletes within a park of real professional athletes. Once their team is created, the participants compete against each other, gaining points depending on the performance of the athletes chosen during the real sports events. Fantasports can be played on virtually any real sport, whether group or individual: football, American football, baseball, basketball, cycling, hockey, boxing, motorcycling, f1 and so on. As with real sports there are versions of amateur and "professional" fantasports. In fact, you can play or group with friends and choose your own rules or rely on structuring companies, some of which are listed on the stock exchange.
The fame of this type of games is mainly due to its online version, which initially exploded in the USA, and which since 2015 is also taking hold in Europe. It must be specified that the success of fantasports online was mainly due to their daily form, which is called daily fantasy sport. In this version of the game users are called to face each other in daily competitions, where you then have the opportunity to create a team, enter a contest and win prizes during the same day, or at the limit within a few days. The adjective "daily" serves to differentiate the most classic form of fantasy sport, where players are forced to choose a squad of players at the beginning of a sports season, and then deploy them from time to time during all matches of the year.
From a simple pastime the fantasports I know become real business opportunities. For example, the advent of fantasy sports online has also allowed the creation of contests with millionaire prizes. Since 2016 online fantasports have also been legalized in Italy, presenting a new product in the world of gambling.
The market value of fantasports is in continuous increase
Recent data highlight:
"The global demand for fantasport, in terms of turnover, was estimated at $20.69 billion in 2020 and should reach 48.07 billion by 2027, at a composite annual growth rate (CAGR) of 12.8% from 2021 to 2027".
These data make an impression and even more if they are compared to those of 2017 that take into account only the Italian fantasport market. In fact, at the time, the sector, which saw as the main platforms Sky, Tim and Fantagazzetta, was worth about 12 million euros per season.
The success and annual growth that fantasports have had is due in particular to the integration and progress of digital technology. The usability offered by smartphones, tablets and computers played a key role. Protagonists of the advancement of interest in fantasports was given by the marketing of number apps that have strongly contributed to the growth of the Global Fantasy Sports Market.
Another factor to consider is the increase in the youth population for market growth. However, the lack of technical infrastructure in developing economies and the lack of security related to payment transfer and data security may hamper the growth of the market. Nevertheless, growing technological advances in this field to develop more innovative offers may offer more opportunities.
Fantasport and Esports markets with great impact
During the world lockdowns, fantasports suffered greatly from the cancellation of virtually all championships in every sport. The opposite reasoning instead applied to Esports who benefited from the stop. They were for months the stage of new improvised championships. During these events the fans were able to interact and compare themselves with their idols, maybe even smelling the possibility of beating them on their ground.
Now that the world seems to be divided, however, both fantasports and Esports have increased even more. The latter because they have now conquered the public, the first because they offer opportunities for socializing between people, which we now need extremely.
