Crypto Gambling and Fantasy Sports - A Gap in the Market?

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Quote from: Kittygalore on March 03, 2021, 08:51:03 AM

Quote from: nitrobetting on March 03, 2021, 01:03:46 AM

Good question and for a niche that has so much variety and options to choose from, fantasy sports would be a good addition. Although, I think only the traditional bookies would likely be interested to join.

It is indeed a good addition but are there enough people that will be betting on it so the bookies can pursue doing it though? The problem with fantasy sports is that they are so niche that they might have a problem gaining some people to watch because I haven't heard anyone talking about one even in other forums, the only way that it can work is when the fantasy sport that is being introduced will become popular.

This is currently the problem for fantasy sports on the market of cryptocurrencies, we know there is a huge industry for fantasy sports on the fiat market but for some reason this is not true here, it seems that on average the people that are in this market are not attracted to this kind of gambling.

We may wonder why this is the case but at the end of the day it does not matter, if casinos do not see a huge demand for a particular kind of game then they are not going to take the time to implement it creating a vicious circle from which there does not seems to be any escape.

fiulpro

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Honestly before your post came I did have no idea about fantasy sports perse in a professional manner and did not know that players are looking for such events to bet but I do believe that other than the sites players can themselves organize bets and that too would be extremely good since without the middle man you guys would be able to participate more wholly and avoid possible scams, third part fee etc. Therefore if you are not finding an option online then you can certainly make one yourself ! You can assemble your own team and see for yourself, in the most popular games there are people and even companies already doing that so that's a whole different scenario. I do believe the reason why the bug sites don't have much of them is because people are already doing them individually . Even the fighting games there are tournaments ( paid ) being organized for teams it's nothing but betting on your skills ! It is already a very prevalent thing, just find a good community.

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Quote from: nitrobetting on March 03, 2021, 01:03:46 AM

Good question and for a niche that has so much variety and options to choose from, fantasy sports would be a good addition. Although, I think only the traditional bookies would likely be interested to join.

It is indeed a good addition but are there enough people that will be betting on it so the bookies can pursue doing it though? The problem with fantasy sports is that they are so niche that they might have a problem gaining some people to watch because I haven't heard anyone talking about one even in other forums, the only way that it can work is when the fantasy sport that is being introduced will become popular.

imstillthebest

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Quote from: nitrobetting on March 03, 2021, 01:03:46 AM

Good question and for a niche that has so much variety and options to choose from, fantasy sports would be a good addition. Although, I think only the traditional bookies would likely be interested to join.

Is there a gap in the market? I think there is. Fantasy sports seem to be a forgotten element in the gambling industry and I doubt the impact it would make to a sportsbook provider if it was to be applied.

Maybe this is where the wide variety of options hurt cryptos, just because there are other current and better popular options to bet on like casinos and other markets.

its not only for traditional bookies but all crypto bookies can include this because in a demanding world of gambling we already have common games everywhere and there are gamblers that want more and want to try different variations but fantasy sports are rarely introduced .
fantasy sport is not forgotten because it is related to sports and for it to be forgotten they need to forget sports first but thats not going to happen .

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Quote from: madnessteat on March 02, 2021, 12:07:39 AM

I don't really agree with the author because I read an article that says that fantasy sports are in high demand among rich people.

Yeah, demand is there but there ain't many sites that are offering fantasy sports though, specially in the crypto world.

Quote from: AOBTCT6 on March 01, 2021, 08:40:00 AM

Do you think fantasy sports are just be a phase that have already peaked? Or are they hear to stay - and if so why are no crypto sportsbooks offering anything here?

I think fantasy sports have a lot of fiat sites offering them and one reason why crypto sportsbooks are so famous is because people want to bet big and withdraw anonymously, while fantasy sports betting doesn't involve much of amounts which is why not many providers are there.

I don't know many but there used to be an option at sportsbet.io earlier, I am not sure if it still exists though since I am not a fan of fantasy sports myself. I tried to search and found this https://sportsbet.io/promotions/fantasy-sports but it might be no longer available.

nitrobetting

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Good question and for a niche that has so much variety and options to choose from, fantasy sports would be a good addition. Although, I think only the traditional bookies would likely be interested to join.

Is there a gap in the market? I think there is. Fantasy sports seem to be a forgotten element in the gambling industry and I doubt the impact it would make to a sportsbook provider if it was to be applied.

Maybe this is where the wide variety of options hurt cryptos, just because there are other current and better popular options to bet on like casinos and other markets.

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Quote from: Twentyonepaylots on March 02, 2021, 05:38:37 PM

It's an uncharted venture indeed, but I don't see the lack of fantasy betting crypto sites or games as something that would greatly impact the market right now. As of the moment there are much more ways for pepole to spend their money on casinos and stuff and since Fantasy games already died last 2014, I don't think it will catch up with the growing demands of the people.

I doubt fantasy games is dying anytime soon when you look at some of the popular sportsbook like Draftkings and Fanduel. I don't have an account on these sportsbooks but I always see a lot of people sharing and posting their fantasy teams on social media whenever there's a big game on the weekends like the NFL. I think it'll grow even more since it's also becoming a thing on esports.

wxa7115

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Quote from: dothebeats on March 01, 2021, 01:47:38 PM

There certainly is. Perhaps there also isn't enough demand from crypto-gambling enthusiasts and regulars since most are focused on casino-based games such as dice, slots, poker, roulettes, and what have you. It's nice to see actual fantasy sports bookies on the crypto scene, given its recent rise in popularity. But again, no sportsbook would include this if there isn't enough demand to make it a viable addition to their platform. It'll take resources and funds for advertisements on its initial launch, too, so it's really hard to make it work currently, but hopefully soon we get it.

This seems like the most simple answer of all, there is not a lot of demand for fantasy games so casinos do not see too much of a need to offer this service to their customers, lets take a look at other games like poker, we have casinos that offer poker but it is nowhere near the offers we get from other games, this means that the demand is not there so I can only imagine the demand for fantasy sports is even lower so it is not surprising we are not seeing anything like what the OP wants.

However once we get more adoption I really think people are going to migrate from the fiat platforms to crypto platforms as it is happening already with many people preferring to gamble with cryptocurrencies than to gamble with fiat.

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Quote from: Twentyonepaylots on March 02, 2021, 05:38:37 PM

It's an uncharted venture indeed, but I don't see the lack of fantasy betting crypto sites or games as something that would greatly impact the market right now. As of the moment there are much more ways for pepole to spend their money on casinos and stuff and since Fantasy games already died last 2014, I don't think it will catch up with the growing demands of the people.

give it a time, and this will be picked up by major crypto sportsbooks as well. not only rich people are into this sports but a lot of millennials as well. and most of them are just starting to learn about crypto, so maybe few years from now, they will be the largest bettors in fantasy sports using crypto bookies.

Twentyonepaylots

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It's an uncharted venture indeed, but I don't see the lack of fantasy betting crypto sites or games as something that would greatly impact the market right now. As of the moment there are much more ways for pepole to spend their money on casinos and stuff and since Fantasy games already died last 2014, I don't think it will catch up with the growing demands of the people.

mu_enrico

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I only play fantasy football (soccer) on Facebook games like 10 years ago or so, but I know my friends --who are hardcore football fans-- still playing this game. Anyway, I did some research last year FYI:

Quote from: mu_enrico on April 22, 2020, 06:57:21 AM

It looks like for online entertainment, sports betting and fantasy sports are predicted to grow in the coming years!
...
Even if states legalized online casinos, Millenials seem to prefer sports betting and fantasy sports.

Not sure if because of postponement on major sports event (at that time), youngsters then prefer online slots (slots booming).

kryptqnick

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Op, I have a question for you: are fantasy sports much different from simulated reality sports? I'm asking because there's an English Premier League SRL, for instance, and bets on their matches are sometimes available for betting on Sportsbet.io. And there are also some other simulated reality matches to bet on sometimes. I created a thread about these events once, so you can refer to it to find more information. Note that in SRL it's the developers to assemble data on the actual teams and then run a simulation of them playing.

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There are existing cryptocurrency based fantasy sports platforms. They're underutilized due to them not being updated in more than 12+ months last I checked.

Fantasy sports are much more heavily regulated, restricted and illegalized than gambling in the USA.

Fan duel, draftkings and other fantasy sports sites are illegal in the US states of: arizona, alabama, hawaii, idaho, iowa, louisiana, montana, nevada and washington state.

There is a good opportunity for cryptocurrency based fantasy sports. The sector is so heavily regulated and restricted it prevents it from being effectively leveraged.

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Maybe fantasy sports are not too popular as the other gambling games, so you do not find many gambling sites with that type of game. But if there are many people interested in playing that game, some developers will start their project and ask or invite some people to test the game before they launch. Maybe you can suggest to the gambling site that you already know to implement that games into their site, so that can be the other way to invite more players to their site.

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Quote from: madnessteat on March 02, 2021, 12:07:39 AM

I don't really agree with the author because I read an article that says that fantasy sports are in high demand among rich people. In addition, as correctly noted sportbettor there is more than one site offering betting services in the world of fantasy sports. Of course, if you compare it to poker or blackjack, it's a drop in the ocean.

Fantasy sports are in demand across many demographics - not just rich people. Fantasy sports being in high demand suggests a crypto sportsbook should take it on and try.

Interesting to hear ralle14 say Sportsbet did try and it didn't work due to lack of interest. Consider the high demand for the games why do you think this is? Is it because players have easier access to actual sports betting markets through crypto? Or is there little cross over between crypto enthusiasts and fantasy sports players? Interested to hear your opinions.

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Quote from: madnessteat on March 02, 2021, 12:07:39 AM

I don't really agree with the author because I read an article that says that fantasy sports are in high demand among rich people. In addition, as correctly noted sportbettor there is more than one site offering betting services in the world of fantasy sports. Of course, if you compare it to poker or blackjack, it's a drop in the ocean.

I don't understand why fantasy sports are in high demand among rich people only! I think they are in high demand among the youth because they are the one who really love fantasy sports. This concept of fantasy sports is comparatively new so I don't see why Rich people are the main beneficiaries here!

Also this kind of gambling has a great future because they are not legally banned in countries like USA or India or wherever the betting on live sports is banned. So along with a gap in the market, there are untapped regions to explore!

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Quote from: AOBTCT6 on March 01, 2021, 08:40:00 AM

Surely this is a big gap in the market which a sportsbook can pounce on? I'm surprised no one has of yet.

Do you think fantasy sports are just be a phase that have already peaked? Or are they hear to stay - and if so why are no crypto sportsbooks offering anything here?

If you're interested I did write a blog post going into greater detail about this here - https://bitedge.com/blog/fantasy-sports-with-crypto/

I haven't played fantasy sports in years. Back at university I had a lot of fun playing it with friends. If there is no crypto bookmaker yet playing in the fantasy leagues it is definitely missing something. The larger the crypto market the higher demand for different types of crypto betting markets. I might be a bit too old now but for the younger generations this could be very attractive again. Thanks for posting your blog here, I will check it out.

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Quote from: dothebeats on March 01, 2021, 01:47:38 PM

There certainly is. Perhaps there also isn't enough demand from crypto-gambling enthusiasts and regulars since most are focused on casino-based games such as dice, slots, poker, roulettes, and what have you. It's nice to see actual fantasy sports bookies on the crypto scene, given its recent rise in popularity. But again, no sportsbook would include this if there isn't enough demand to make it a viable addition to their platform. It'll take resources and funds for advertisements on its initial launch, too, so it's really hard to make it work currently, but hopefully soon we get it.

I have seen some of this games but you are right, there isn't a lot when it comes to customer base. Not to mention that most fantasy enthusiasts are not into gambling as most of them prefer board games like DnD or LARPing. Yes it is good to see fantasy sports in the gambling industry but cricket noises are definitely going to be present because there aren't a lot of players as I have said earlier, I think that we should just focus our attention on what is currently on the table.

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Quote from: AOBTCT6 on March 01, 2021, 08:40:00 AM

Looking at the demographics of fantasy sports, it's predominantly played in countries where sports gambing is banned. For example, in USA and India fantasy sports get around gambling laws, allowing users to experience the thrill of betting. Does this mean people who are allowed to bet aren't too bothered by fantasy games? If so, I can see why crypto sportsbooks haven't put any effort in here. As they allow anyone anywhere to bet, customers would just head straight for the standard sports markets and there wouldn't be such a big appetite for anything fantasy related.

I wonder what exactly the laws are against: Gambling (taking big risk)? Or not engaging in "fantasy sports" betting/predicting atall?

Perhaps the name "Gambling" is why the laws are harsh on it and they are able to get around it by practicing & encouraging safe/responsible betting.?

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Quote from: shoreno on March 02, 2021, 02:06:15 AM

only rich people ? i think this is true because im not rich and i cant understand how this game works but there are still non rich people that are smart and can probably understand how this game works and bets arent going to be super expensive so they can still participate on it . on the other hand card game , casino game and sports betting are indeed much popular and easy to understand for the majority of the people and the other reason is these games are in real time not just a fantasy . thats why there is a gap between them and fantasy sports / betting .

In fact, you don't have to have any knowledge or be rich to understand how fantasy sports are played. Read the Wikipedia article on Fantasy football - https://en.wikipedia.org/wiki/Fantasy_football_(association) and you will understand the principle of the game. You can find more fantasy sports games in this article - https://en.wikipedia.org/wiki/Fantasy_sport#Popular_fantasy_sports

Topic: Crypto Gambling and Fantasy Sports - A Gap in the Market? (Read 290 times)