Brazil fantasy sports market to exceed USD 1.5B by 2020

The fantasy sports market in Brazil is expected to exceed USD 1.5B by 2020, growing at a Compound Annual Growth Rate (CAGR) of over 20% during the forecast period, indicated the latest market research study released by Technavio.

2016-05-02

Brazil

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The fantasy sports market in Brazil is expected to exceed USD 1.5B by 2020, growing at a Compound Annual Growth Rate (CAGR) of over 20% during the forecast period, indicated the latest market research study released by Technavio.

The research report titled ‘Fantasy Sports Market in Brazil 2016-2020’, provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes an up to date analysis and forecast for various market segments and all geographical regions.

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According to the report the fantasy soccer market in Brazil is expected to reach USD 987Mby 2020, growing at a CAGR of 22%. The popularity of the game and the rising Internet penetration in the country have propelled the growth of fantasy soccer

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According to Abhay Sinha, lead analyst for outdoor gear research at Technavio, “a fantasy sport is a game, which allows participants to create a team made of players of their choice. These participants compete against teams that are owned by other fantasy players. The winning team is determined based on the performance of the selected players in real-world sports.”

The report segments the fantasy sports market in Brazil by product which is divided into five broad categories, including, Fantasy soccer, Fantasy basketball, Fantasy baseball, Fantasy football and Fantasy sports.

According to the report the fantasy soccer market in Brazil is expected to reach US$987m by 2020, growing at a CAGR of 22pc. The popularity of the game and the rising Internet penetration in the country have propelled the growth of fantasy soccer.

The fantasy basketball market in Brazil is expected to reach US$235m by the same year, growing at a CAGR of almost 20pc. Besides Basketball big popularity in the country, the federal government has granted funds to develop it before the Rio 2016 Olympics and establish a talent pool for the national team. Such initiatives are expected to increase interest in basketball among the Brazilian population.

Aditionally fantasy baseball market in Brazil is expected to exceed US$175m by 2020, growing at a CAGR of almost 20pc; football is expected to reach US$86m growing at a CAGR of over 17pc and the market for other fantasy sports will exceed US$42m at a CAGR of over 16pc.

Technavio new research areas highlight CBS, DraftKings, FanDuel, Yahoo as the four top contributors to the fantasy sports market in Brazil.