The worldwide fantasy sports market is predicted to grow by USD 6.11 billion between 2021 and 2026, developing at a CAGR of 6.51 percent over the forecast period. The study provides extensive insights into the major drivers, trends, and constraints influencing worldwide market growth.

At offices around the country, entrepreneurs will be affected by a type of brain drain, which is essentially a massive distraction and engagement problem: their disengaged staff playing fantasy sports on company time.

According to a recent Gallup study, disengaged employees cost American businesses an estimated $350 billion every year. According to a survey conducted by the outplacement firm Challenger, Gray and Christmas Inc., fantasy football season alone is responsible for an estimated $13.4 billion of that.

This isn’t about a large number of individuals calling in ill because they’re tired following a weekend of tailgating and football watching. Rather, it is the result of people who come to work in the body but not in the heart.

According to Challenger, 18.3 million working Americans participate in fantasy sports on business time. Employers pay $447.4 million for every hour employees spend on their fantasy teams. If players (workers) spend just two hours a week managing their teams on business time, this adds up to $895 million every week. If you find that number frightening, please take a seat before continuing. When you multiply that two hours per person by a 15-week fantasy football season, the expense skyrockets to $13.4 billion.

“Presenteeism” is considerably more destructive than absenteeism in many respects, especially when you include the office pools, fantasy leagues, and time spent following metrics online – not to mention the work backlog caused by truly absent coworkers.

Smart companies, on the other hand, may transform this negative into a good by harnessing fantasy football to boost morale. I know since I used to oversee an ESPN Radio station in North Carolina. I developed fantasy football leagues for our listeners and marketers to increase audience engagement.

Using Fantasy Football to Promote Brands

Because of the rising popularity of fantasy sports, many corporations are joining fantasy leagues to sell their products. Unilever, for example, has developed a fantasy football site for its Dove Men+Care brand. 

It gives customers unique access to ESPN analysts’ fantasy football recommendations and assistance. Similarly, Hilton introduced a free fantasy racing tournament for hotel chain honors club members. 

The participation of such marketers is likely to expand throughout the forecast period, promoting the market growth. During the projection period, the popularity of e-sports, as well as the application of blockchain technology and cryptocurrencies in fantasy sports, will drive market expansion.

Analysis of Segmentation

The fantasy sports market is segmented by type (fantasy soccer, fantasy baseball, fantasy basketball, fantasy football, and others) and geography in this market research analysis (North America, Europe, APAC, South America, and the Middle East and Africa).

In 2021, the North American area topped the fantasy sports market, followed by Europe, APAC, South America, and the Middle East and Africa, in that order. North America is predicted to have the biggest incremental increase throughout the projection period due to the region’s growing number of fantasy sports participants. The high presence and penetration of key providers will help drive the expansion of the North American fantasy sports industry.

To increase morale, join a fantasy league

Use your fantasy league to foster teamwork inside your firm. Statchat.com is a free website that rates complete fantasy leagues on the most major league systems, including ESPN, CBS, Yahoo!, Fantrax, and My Fantasy League. It allows leagues to play against other leagues, with the winner claiming National League Champions after the season.

Take advantage of the chance to have your personnel entertain clients during NFL games if you reside in or near an NFL market. I used to be able to bring major accounts to Carolina Panthers games in Charlotte when I was on the radio. 

The games gave me a lot of valuable time with significant clients, both during the events and on the way to and from them. This allowed them to identify certain synergies between their organizations that would not have been possible otherwise.

Implement a “jersey week” in which all employees are encouraged to dress casually and wear their favorite player’s jersey. Cleats and eye black are optional. Hold a tailgate party at lunch hour, maybe outside if the weather permits.

Conclusion

It doesn’t matter how brilliant you are or how hard you work; you will have years when things don’t go your way. So, as long as you don’t throw every penny you have into your first season and get crushed, it’s worthwhile and a lot of fun. Just don’t expect to get wealthy. Even though live drafting is completely unnecessary, I invest the extra price and enjoy the entertainment value of a Vegas getaway to start the football season every autumn.