The fantasy sports market is witnessing remarkable growth, with projections indicating it will reach $84.98 billion by 2032, according to a study by Skyquest. This expansion reflects a compound annual growth rate (CAGR) of 12.1 percent from 2025 to 2032. Key drivers behind this surge include the rising popularity of major sporting leagues such as the NFL, NBA, Premier League, and IPL. As these leagues continue to attract vast global audiences, fan engagement has surged, significantly contributing to the expansion of fantasy sports platforms.
Technological advancements have further accelerated this growth. Enhanced digital connectivity, including widespread smartphone use and improved internet speeds, has made it easier for fans to participate in fantasy sports and manage their teams in real time. Additionally, the booming online gaming and esports sectors have introduced fantasy sports to younger demographics who enjoy interactive and competitive gaming experiences.
In an interview with SiGMA News, Joe Pisano, CEO of Jade Entertainment and Gaming Technologies, and Swati Chamoli, Director and Co-founder of MyFab11, shared insights on the evolving landscape of fantasy sports and sportsbook platforms, discussing emerging trends, challenges, and future opportunities.
Pisano highlighted Sri Lanka’s emerging role in the global gaming industry, citing the country’s strategic advantages. “We choose Sri Lanka’s strategic location, booming tourism industry, and evolving regulatory landscape to make it an optimal hub for global casino market ventures. With the right investments and regulatory support, the country has the potential to become a premier gaming destination, attracting high-rollers, international investors, and digital gaming enterprises alike,” Pisano explained. He revealed that Jade Fantasy’s website had drawn 16 million visitors over the past six months, demonstrating strong regional interest.
“Fantasy is only phase one of our Sri Lanka plan,” Pisano stated. He outlined upcoming plans to launch a sportsbook platform and introduce a live games connectivity hub to stream electronic games online. These additions aim to expand Jade Fantasy’s offerings and cater to evolving consumer demands.
Chamoli, meanwhile, emphasised that India remains MyFab11’s largest market, driven by the nation’s strong cricket culture and the IPL’s immense popularity. “Cricket lovers play it very religiously on our platform,” she said, attributing the platform’s success to India’s enthusiastic sports following.
Chamoli also pointed to the rising acceptance of fantasy sports in global markets, including the UK, Australia, and the US. “With government support, we’re seeing significant growth in our user base,” she added, highlighting the positive impact of regulatory changes in these regions.
Both Pisano and Chamoli acknowledged that advancements in technology have played a crucial role in the growth of fantasy sports and sportsbook platforms.
Pisano credited mobile app development for transforming the industry. “Users can place bets, manage their fantasy teams, and access live sports data all from their smartphones or tablets, driving engagement and growth,” he said. These innovations have created a more immersive experience for sports fans, enabling real-time decision-making and improving user engagement.
“Fantasy sports give fans an added layer of engagement by allowing them to create and manage teams, compete with friends or strangers, and win money or prizes based on real-world performance,” Pisano noted. “Sports betting similarly ties fans closer to the action, making each game more exciting, as viewers have stakes in the outcomes.”
Chamoli agreed that fantasy sports are gaining wider acceptance, especially in regions where cultural sensitivities had previously slowed adoption. “It’s not taboo anymore. People are becoming more aware of these platforms,” she said.
The legalisation of sports betting has significantly boosted the fantasy sports and sportsbook sectors. Pisano explained that regulatory changes have “expanded markets, encouraged cross-platform engagement, increased revenue opportunities, and bolstered consumer trust.”
He emphasised that legal frameworks have created a safer environment for consumers while also driving innovation. “As more regions move toward legalising sports betting, this trend is expected to continue, further shaping the future of these industries,” Pisano said. He believes that the alignment of regulations with technological developments has created a more competitive and integrated sports entertainment ecosystem.
Emerging technologies such as artificial intelligence (AI) and blockchain are reshaping the fantasy sports and sportsbook landscape. Pisano highlighted AI’s role in improving platform efficiency, personalising user experiences, and enhancing predictive analytics. “AI is driving personalisation, predictive analytics, and improved customer service,” he said.
Pisano also underscored blockchain’s potential to improve security, transparency, and trust within the industry. “Blockchain ensures transparent transactions, safeguards user data, and offers a tamper-proof system,” he noted. These tools, he added, are essential for ensuring fairness and maintaining consumer confidence.
Chamoli confirmed that MyFab11 has also adopted AI, albeit for internal support. “We use it from the back end, where it helps improve our response to users,” she explained.
Despite the industry’s rapid expansion, Pisano warned that several challenges persist, particularly around regulatory compliance, responsible gaming, and competition from illegal operators.
He stressed the importance of licensed operators adhering to strict compliance standards and promoting responsible gaming practices. “The biggest challenge to sports betting isn’t compliance from licensed operators — it’s illegal operators who bypass responsible gaming practices,” Pisano stated.
He urged regulators to intensify their efforts to address these risks. “We would like the regulators to increase efforts to stamp out illegal gaming,” he said, warning that unregulated platforms threaten consumer safety and undermine legitimate businesses.
Looking ahead, Pisano predicted several key trends that could reshape the fantasy sports and sportsbook sectors over the next five years.
“AI-driven player performance predictions and personalised betting recommendations will become mainstream,” he said. Pisano also highlighted blockchain’s role in developing transparent and fair gaming environments. He further pointed to the growing integration of cryptocurrency payments and NFT-based fantasy collectibles as emerging trends that will attract digital-native consumers.
“Fantasy sports could move to micro-fantasy formats, where users draft players for short periods — maybe for just one quarter or half a match,” Pisano suggested. This trend could enhance user engagement by offering quicker outcomes and more strategic decision-making.
Pisano revealed that Jade Fantasy is already exploring ways to develop an integrated ecosystem combining fantasy sports, traditional sports betting, a sports news site, and social interaction features.
As the fantasy sports and sportsbook industries continue to expand, driven by evolving technology, regulatory support, and shifting consumer behaviours, industry leaders like Pisano and Chamoli remain confident about the sector’s future.
The dynamic evolution of fantasy sports and sportsbook platforms is poised to reshape global gaming landscapes, offering users deeper engagement, innovative features, and increasingly personalised experiences.
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