Over 30 million Americans spend nearly $1 billion dollars on fantasy sports every year. Of those that play fantasy sports, about 21 million play fantasy football. It is the country’s most popular fantasy sport.
Real simple, pick real players in hopes you draft a good team that perform really well. It is easy to manage, unlike fantasy baseball, and requires little effort since you only have to manage your team once a week.
It is not just about bragging rights; it is a robust business for corporate America. Information companies from newspapers, magazines and websites capitalize on the revenue that fantasy sports provide. These companies provide the information for managing the teams, including statistics and sports news.
Papa John’s is even getting in on the fun. They will judge leagues on “a mix of fun and serious ingredients that go into forming and sustaining a great league.” Andrew Varga, Papa John’s chief marketing officer said, “Beginning with fantasy football drafts this month all the way to the NFL Draft next year, Papa John’s will be providing fans with opportunities to make the football season better than ever.”
Many other businesses see an influx of revenue from catering to fantasy sports enthusiasts. Over 25,000 fantasy draft parties are expected to hosted by Hooter’s at the start of the NFL 2010 season. They will be offering free player cheat sheets, draft boards and coupons to attract customers that play fantasy football.
“Each year we’ve just seen it grow and grow and grow,” Alex Edwards, General Manager of Buffalo Wild Wings. The Waterford Lakes location in Orlando, Florida will host 40 fantasy football draft parties before first game of the season.
The average fantasy sports customer is male, white-collar, and makes upwards of $90,000 a year. Even NFL players themselves are known to play. Chris Cooley of the Washington Redskins and Drew Jones of the Jacksonville Jaguars even play fantasy sports.
On average, you will pay $60-$80 per team and 40% of the leagues are free. ESPN, CBSSports and Yahoo all do free analysis. You can sign up for free and then as a league manager, setup your own fees and structure. In some leagues, it is up to the people that play who determine their own entry fees. Only 20% of the fantasy sports websites charge for information.
Marketing to the armchair quarterback can prove to be a profitable business. It is not just fun and games; there is real money to be made in fantasy sports.