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The Growing Obsession With Daily Fantasy Sports

The Huffington Post The Huffington Post 23/10/2015 Yura Bryant
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Sports fans love their sports teams and players and this intense love leads some fans to want to partake in the ongoing action of sports game play by participating in daily fantasy sports. Participating in the ongoing game play action of sports, means that many participants of fantasy sports are spending a lot of money to be involved in the intense competition involving statistics, game theory and large cash prizes.
Millions of fans are participating in daily fantasy sports, which has led to the formation of a Fantasy Sports Trade Association. An accurate number is approximately 56.8 million participating players in the U.S. and Canada as of 2015. The constant need for continued updates and statistical analysis means that people invest a significant amount of time and money into fantasy sports. The average annual spending among participants is $465. But why exactly is daily fantasy sports so popular?
The popularity is due to fans feeling like they have a real stake in the performance of their selected players and their assembled teams. The money that can be won for winning in fantasy competition plays a big part in the growth of fantasy sports but emotional attachment is also a huge factor within the growing obsession. When participant's selected players and assembled teams do well, they feel as if their knowledge plays a huge role in their winning process. People who engage in fantasy sports see themselves as sports strategist, a mix of team owner and general manager who understands the dynamics of player performances from week to week.
The intense desire for fantasy sports players to win extends beyond watching actual game play. They are analyzing statistics daily in order to be well prepared for game day so that they can make the right decisions about their fantasy roster. Fantasy players frequent Daily Fantasy Cafe, which provides tons of information, that helps fantasy sports participants stay up to date about the latest news and performances of the players on their assembled teams. This type of ongoing coverage of game play performances and player statistics help to further intensify the obsession people have about fantasy sports.
There is a great deal of money being made in the daily fantasy sports industry due to this growing obsession. The two biggest providers in the marketplace, FanDuel and DraftKings are both valued at over $1 billion. This is due to so many active participants being heavily invested in the competition of fantasy sports. This leads to investment capital pouring in to help cultivate the continued growth of fantasy sports players. One key reason for investment capital is because of the entry fees that fantasy players pay in the hopes of winning large cash prizes. The average entry fees range from $50- $100 but some fees can reach upwards of thousands of dollars. And with millions of people paying entry fees to participate in competition, this adds up to a $3 billion industry for the year 2015.
Estimations are that fantasy sports will grow into a $14 billion industry by 2020. This tremendous amount of money being generated, has helped to attract particular investment interest and dollars. FanDuel has raised over $360 million from investors, which include: Comcast, Time Warner and the NBA. DraftKings has raised $375 million from investors, which include: Fox Networks, Robert Kraft (Patriots team owner) and Madison Square Garden.
Daily fantasy sports is only expected to continue to grow, which leagues and networks hope will help to increase viewership of their entertainment product. Fantasy sports is a win-win situation for most who are involved in the activity of the industry, except for those who lose their money. But even with the odds of losing being on the table, people are still willing to throw their money into the competition pool because of the lucrative cash prizes given out. And due to competitive nature being so high, which fuels the desire for continual participation and an intense need to win.

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