Why does no one offer crypto fantasy sports? Fantasy sports is an established part of the gambling world and Crypto sportsbooks and casinos offer a wide range of betting options. If any of them did crypto fantasy sports well they would instantly become the industry leader. So why don’t they?
The rise of fantasy sports
USA & Canada
Two nations have been instrumental in the recent growth of fantasy sports – the United States and India. The main thing they have in common is that standard sports betting is banned but fantasy sports are allowed.
America accounts for 58% market share and is where fantasy sports were born. In 2006 the Unlawful Internet Gambling Enforcement Act banned standard sports betting but allowed fantasy sports as a “skill-based game”.
Five years later, DraftKings became popular by allowing high-quality legal fantasy sports to be played coast to coast. So popular that in 2013 Major League Baseball became the first league to get on the bandwagon by purchasing a stake in DraftKings. Fox Sports, Major League Soccer and the NHL all followed suit, propelling fantasy sports into the mainstream.
India, another country with a sports betting ban that makes an exception for fantasy sports, saw similar growth thanks to Indian Premier League cricket. KPMG estimate the online gaming market in India to be worth $43.8 billion and could reach $118.8 billion in 2023.