Wilfred "Bill" Winkenbach devised fantasy golf in the latter part of the 1950s, in which each player selected a team of professional golfers and the person with the lowest combined total of strokes at the end of the tournament would win.
Bill Winkenbach with an award he won.
Rotisserie League Baseball was formed by a group of sports media writers and baseball fans to play fantasy baseball. It created a point system and made each player the "owner" of a new team that would draft real players. The scoring system was created by Daniel Okrent.
Sports journalists report on player performance and statistics, giving any fantasy player valuable information for drafting and playing their teams. They have also participated in fantasy sports and written stories popularizing them.
Fantasy football emerged in the market in the late 1970s, but did not become popular until the late 90s and early 2000s with the creation of fantasy sports websites.
$26 billion is the estimated annual total spending for fantasy sports.
While federal gambling laws contain exceptions for fantasy sports because it is somewhat skill-based and not dependent on actual scores, some states have stricter gambling regulation that make many fantasy leagues illegal. There is greater risk of losing money in daily fantasy leagues, which also face legal battles.
Many states are seeking bans of daily fantasy sites because of their gambling nature. They are pay to play and contain too much chance in the daily setting.
The internet greatly expanded the popularity of fantasy sports because it made participation, entry, and statistics easier and more available.
FSTA stands for Fantasy Sports Trade Association. It is an organization that promotes the interests of fantasy sports and it functions as a trading group for the fantasy sports industry.
Many of the smaller fantasy sports sites and companies could not keep up with the industry during the Dotcom era. These companies crashed as larger players, such as Yahoo! emerged.
Fantasy sports allow people to actively participate in sports that they love. It seems almost every man in America is in love with the football, but not every man in America can play in the NFL. With fantasy sports, people can live vicariously through the players on their roster. It gives the average person multiple opportunities to participate in the sports they love.
Many believe that pay to play fantasy sports sites are thinly veiled gambling companies without restrictions.
As fantasy sports grew more and more popular, media outlets began to devote time and articles to covering fantasy data. They discuss the leagues, player stats, injuries, and game conditions more than ever before to satiate fantasy sports players' unending need for information on their teams.
The NFL used to only broadcast local games, and occasionally feature match ups between competitive teams. Due to the popularity of fantasy sports, the NFL now broadcasts nearly every single game anywhere at anytime. Because fantasy teams are a mix of players from teams across the country, good and bad, fans want to see every game possible. This gives more money to all the NFL teams, even the terrible ones. It also allows good players on bad teams to shine.
The fantasy sports industry grows each year. The emergence of daily fantasy sports greatly increased this growth. These rates will only continue to increase as access to the games, leagues, and their popularity increases.
Market Segmentation Analysis:
66% Male to 34% Female
Average Age: 38
66% Have College Degree or More
51% Earn 75k or Greater Annually
67% Have Full Time Employment