Global Fantasy Sports Market to reach up to US＄30 billion by 2027, study reveals

online game

The market report further predicts annual growth ranging between 5.23% and 7.72% for the next four years

Brazil – By 2027, the global Fantasy Sports market should jump from the current amount of US$ 22.3 billion and reach figures in excess of US$ 30.5 billion. This is what the trend report “Fantasy Sports Market by Product, Platform and Geography – Forecast and Analysis 2023 – 2027” reveals, developed by global TechNavio, a leading market research company. Fantasy Sports is a type of online game where participants climb imaginary or virtual teams of real players in a professional sport.

The market report also predicts annual growth ranging between 5.23% and 7.72% for the next four years and lists the countries of South America as key to this result, contributing with 7.52% to the global market for fantasy sports in 2027, and includes Brazil as one of the world’s fastest growing economies. According to the document, in 2019, the country recorded growth of almost 1.1% in the Gross Domestic Product (GDP), due to the increase in sports lovers.

For the president of the Brazilian Association of Fantasy Sports (ABFS), Rafael Marchetti Marcondes, the factor not only weighs in favor of the sector but is also a clear demonstration of the potential of the fantasy sports market to boost the national economy.

“The numbers are important for us to analyze our advances and also allow us to define strategies for assertive action. In addition to market demands, we are also evolving in the public debate, where we are dialoguing with important decision makers to sensitize public opinion about the importance of regulating the sector. Today, the Fantasy Sports sector has more than 30 million Brazilians and this scenario requires regulation to guarantee the safety of consumers, operators and investors in the sector”,

observes the president.

Bill 2796/2021, already approved in the Chamber, is being discussed in the Federal Senate and aims to encourage entrepreneurship for the production of online games in Brazil, through the regulation of the sector, and for the executive, with the regulation, the growth of the sector of fantasy games is estimated at 120% by 2026. In addition, more than 5,800 direct jobs can be generated.

Rafael also details that the laws in force in Brazil do not follow the requirements of the games sector and highlights that not only the Association, but several companies in the field share the thought that the approval of the PL is the best way to boost this market.

“The industry is new and our legislation is outdated. We have an increasingly strong electronic games market, with great potential for job creation and revenue. We are the largest gaming market in Latin America and the 10th in the world in terms of revenue, and we believe that with the approval of the PL, in the format in which it was approved by the Chamber, we can further boost the national electronic games market, which today collects around of R$ 12 billion per year. In addition, we ensure the development of the entertainment industry and we also ratify our commitment to offer services with more transparency and security to our consumers and the entire chain involved”,

highlights Raphael.

The president also notes that the proposal, approved by the deputies on October 19, 2022, in addition to contributing to leverage the growth of the entire electronic games industry, “is in perfect harmony with the Economic Freedom Act and has full synergy with market needs”, he concludes.

*With advisory information

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