DUBLIN–(BUSINESS WIRE)–The “Asia-Pacific Fantasy Sports Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)” report has been added to ResearchAndMarkets.com’s offering.
The Asia-Pacific Fantasy Sports Market is expected to register a CAGR of 18.32% over the forecast period.
The emergence and popularity of sports leagues in the Asia-Pacific region, coupled with the rapid development of digital infrastructure and payments, has led to the rise of fantasy sports as other means for sports enthusiasts for connecting with their favorite sports, and test their skills and knowledge of the game. This format has already seen significant adoption in the global market.
The Asia-Pacific region has also witnessed considerable growth in the fantasy sports user base during the past few years. The format is gaining significant traction, catalyzed by affordable mobile data services, and the proliferation of smartphones and broadband internet, which enabled users to connect with their favorite sport through fantasy sports platforms.
Key Highlights
The Chinese Super League (CSL) is a league known to invest a lot of energy and big money on the dream of creating one of the best football leagues. Attendance records could confirm the public’s interest with more than 24,000 spectators, on average, are present for matches in the CSL.
This makes it one of the most popular football competitions in the world. In June 2019, FootballCoin is one of CSL’s supporters, and the game’s developers announced to include the league in its CSL fantasy football contests. FootballCoin is a fantasy football game utilizing blockchain technology at its core.
The developers of the game successfully merged the two worlds, that of fantasy sports to that of cryptocurrency. The fantasy CSL players and teams are actively involved in the fantasy soccer contests organized by FootballCoin.
In May 2019, Japan’s first fantasy sports content provider, Neo Sports, announced to host a Fantasy ONE on ONE event as part of the Basketball League Championship 2018-2019 on amid rapidly growing popularity for the game across the country.
Because sports betting at present is prohibited in Japan, users will not be able to pay participation fees to win several cash prizes with their fantasy leagues, so the scale is expected to remain small, with Amazon gift certificates could be won totaling the equivalent of JPY 3 million.
It is anticipated that events such as this will pave the way for a relaxation of laws governing participation in Fantasy Sports. Neo Sports is the first Japanese company to join the American Fantasy Sports Association and plans to expand beyond basketball to other sports. This experiment is expected to be a revolutionary step for Japanese fantasy sports.
In June 2020, the South Korean soccer association K League announced a licensing agreement with the blockchain-enabled fantasy soccer platform.
The deal gives Sorare, developers of a global fantasy football game, the right to include over 400 players from the league’s upper division in its platform, which at present comprises players from prominent teams including Juventus, Napoli, and Atletico Madrid. Sorare utilizes the Ethereum blockchain to generate unique digital cards representing players, which can be traded by users.
The firm’s fantasy soccer platform has about 3,000 monthly active users who can choose to play with players with over 100 different soccer clubs and generate about USD 200,000 in sales in May 2020. Although betting for online sports is illegal in South Korea, fantasy soccer is not betting because no financial sacrifice users have to make.
Key Market Trends
Cricket is Expected to Hold Significant Share
Cricket enjoys immense love and passion, especially in the Asia-Pacific countries such as India, Pakistan and Australia, and is almost a religion to its fans India. The ever so enthusiastic fans follow every single run, wicket, century, scored by their favorite cricketers. This in-depth knowledge of the sport, which is very common among countries like India and Australia, gives them an edge in all the fantasy sports games related to cricket.
Apart from the Indian Premier League (IPL), other international cricket leagues like the Big Bash, T20 Blast, Caribbean Premier League, Bangladesh Premier League, are very popular among the audience in the region. Hence, with every new T20 league, a new door of opportunities to make significant profits is opened. Countless cricket fans are engaging in the fantasy sports game related to the sport.
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/dmje3s
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