Daily Fantasy Sports services would see a compound annual growth rate of 20 percent.
Brazil.- Technavio, a British technology research and advisory company with global coverage, released yesterday its latest report about Brazilian further gaming industry, focusing on the fantasy sports market in particular. The results revealed that the industry could exceed US$1.5 billion by 2020. Soccer would be the most profitable sport betting game.
The full analysis, available on Technavio’s official website, studied Brazilian market in terms of revenues and market trends. Major sports betting providers for the region are CBS, DraftKings, FanDuel and Yahoo. Football (soccer,) basketball and baseball bets would be the most popular in the Latin American country. Only football betting, the favourite national sport, would reach US$987 million by 2020 and its compound annual growth rate would be of 22 percent.
Rio 2016 Olympics has been enhancing other sports activities investing on development of basketball and baseball. “The increasing interest in football and the introduction of daily fantasy sports (DFS) is expected to boost the growth of the fantasy football market in Brazil,” adds Abhay Sinha, lead analyst for outdoor gear research at Technavio. Basketball and baseball would grow 20 percent per year, achieving around US$235 million and US$175 million respectively. As to football, the growth is calculated on US$86 million with an annual increment of 17 percent. The rest of the total revenue would be completed with sports betting on mix martial arts, ice hockey, boxing, golf, tennis and motorsport.