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Global Fantasy Sports Growth Projected to Outpace Recent US Growth

Bill Asher

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The owner of Lucid Entertainment, Bill Asher is an experienced entrepreneur having started over two dozen companies in various industries. Currently, Bill Asher is working on internet-related businesses such as fantasy sports gaming.

The fantasy sports services industry has grown leaps and bounds over the last couple of years. According to research from IBIS World, in the United States, the industry recorded an annual growth of 8.1 percent between 2014 and 2018. In that time the number of companies in the industry grew 12.6 percent to hit 947 while industry employees grew 11 percent to over 35,883. Much of this growth is attributed to high smartphone ownership and internet access in the United States. An abundance of fantasy sports apps has also contributed to this growth.

Now, new research is projecting an almost similar growth pattern in the global fantasy sports industry. Research firm Technavio released a market research report that forecasted a compounded annual growth of 12 percent between 2018 and 2022. According to the report, this growth will be propelled by increasing internet access and phone ownership in regions such as APAC (Asia Pacific) and EMEA (Europe, Middle East, and Africa). Technavio further noted that in that period, brands would increasingly use fantasy sports for product promotion targeting high-income players between the ages of 25 and 50.