There’s a common misconception that “fantasy sports” is just a silly, archaic term for daydreaming. I’m here to tell you that fantasy leagues are serious business!
Fantasy leagues have been around since the late 1970s and have evolved since then. Nowadays, many participants spend money on being part of these contests. These contests lead to cash prizes and bragging rights as well as intellectual stimulation for all involved.
Orzare has some more information about Fantasy sports: it’s where elves play soccer or what.
Fantasy sports can be an easy way to contribute to your favorite team or player without actually being on the field with them. I’m here to tell you all about the history of fantasy leagues, their popularity today and why they are important to Americans. Let the games begin!
These contests are nothing new. The first leagues were created in the 1970s by baseball fans who were bored with their daily nine-inning games.
These “fantasy leagues” were a way for people who did not play baseball professionally to actually be on a team and compete with other people who loved baseball as much as they did .
Here are some points discussed-
1. Fantasy Sports are a mainstream entertainment:
The most popular fantasy sport worldwide is football, or soccer as it’s known in many other countries. It is estimated that 57 million people in the UK and 30 million people in the US participate in fantasy football.
Another popular sport to play a fantasy version of is Major League Baseball. With an annual salary of $19,000,000, Alex Rodriguez is one of the wealthiest players to ever play for the Yankees.
He also has a career batting average of .284 and 647 home runs. Rodriguez has improved his numbers since joining the Yankees in 2004 by playing for a better team and having more fans actively following him on their fantasy league teams.
2. Fantasy sports are a form of entertainment
In addition to being a serious sport, fantasy sports can be a form of entertainment as well. People who play these games create groups with friends and family to enjoy these games together.
It is often fun to make trades between friends or family members since everyone involved knows each other’s strengths and weaknesses. These trades are usually more enjoyable because they involve people you know rather than strangers on the internet.
In addition, it is more interesting to hear someone talk about why they traded someone that you like then it is another person you do not know at all .
3. Fantasy sports provide a good way to invest in your favorite team
In the past, fantasy sports were primarily thought of as a hobby rather than investing in one’s favorite team. However, more people are investing now because of the success of sports such as basketball and football.
In baseball and basketball, players such as Kobe Bryant and LeBron James have amassed large salaries that they could use to invest in their favorite teams. Individuals can invest however much they like; some begin with very little while others can invest thousands of dollars.
Fans are able to see their dream team come together if they had been patient enough to have funds set aside for them .
4. Fantasy Sports are an important part of American Business
The fantasy sports industry is worth a lot of money. The Fantasy Sports Trade Association estimates that $800 million was spent on fantasy sports in the 2008-2009 season . Football and baseball are the two most popular fantasy sports leagues.
These two leagues alone accounted for $550 million in the year 2008-2009 . In addition, this market is expected to grow over the next few years especially with online betting becoming more popular and better organized .
As many things do, fantasy sports have evolved from a once solitary activity to one that participants can share with their friends and family members. Despite this change, fantasy sports still have much in common with their original form.
5. Fantasy sports is a multi-billion dollar industry
Fantasy sports have grown from a simple small business in the 1970s to a multi-million dollar industry in the 21st century . People who work on fantasy sports sites get paid hourly and make between $10,000 and $15,000 yearly .
A few years back the NY Times estimated that fantasy sports had around eight million participants. The NY Times also stated that fantasy sports made approximately $500 million USD in 2006 with an estimated 5% growth every year. This figure has likely changed since then, but it’s easy to see that fantasy leagues have grown exponentially since they began over thirty years ago .