In recent years, fantasy sports have emerged as yet another avenue for bettors and bookmakers to wager on their favorite players and teams, and a recent report from Grand View Research has predicted that the global fantasy market will balloon at a compound annual growth rate (CAGR) of just over 14 percent from 2023 to 2030, thanks to a number of factors, including the proliferation of high-speed internet and smartphones as well as increased sports viewership overall.
The 140-page report, titled “Fantasy Sports Market Size, Share & Trends Analysis Report By Sports, By Sports Type, By Platform, By Gameplay, By Device, By Demographics, By Region, And Segment Forecasts, 2023 – 2030,” also posited that the U.S. market specifically will grow at a healthy CAGR of 12 percent. In 2022, the global market was estimated to be worth US$20.3 billion, with the U.S. accounting for at least $6 billion of that total.
Another key factor mentioned by Grand View is the legalization of traditional sports betting in a number of new jurisdictions and U.S. states in the last five years. Not only that, but the scope of betting and data partnerships between operators and leagues themselves has accelerated the number of players and offerings.
