Fantasy sports has been around for more than a decade are now gaining more popularity as the technology today allows for easier access to statistics/real-time information updates and the ability to network with one another via social networking features. Fantasy sport sites allow individuals to partake in competitions based on the performance of professional athletes. Participants select a fantasy team within a league and pick players for each match (manage roster/schedules). Points are then awarded or deducted throughout the season based on player’s performance. Sport fans are finding fantasy games more addictive than ever and the industry is now valued as a $1.5 billion-a-year-business with an average fantasy sports player spending $150 annually to participate. Yahoo’s acquisition of Rivals.com, Wikia's purchase of ArmchairGM and Time and Sports Illustrated's takeover of FanNation are indicators of the growing business of fantasy sports. According to the research conducted by Northwestern’s Kellogg School of Management, the three main reasons people play fantasy sports is it’s competitive nature, people’s love for sports and finally for prizes/rewards.

Recently, several fantasy sport sites are integrating a number of social networking features to allow users to connect with other players. ScreamingSports lets you create your own personal fantasy sport profile where you can post blogs, photos, videos or IM your fantasy league buddies. Moreover, the site aggregates all sporting news and updates as well as your fantasy sport team's place whether it's from Yahoo, CBS or ESPN. Basically, you can connect with other players, compete for points and get updates on how the team is performing, view games are coming up as well as last minute game breakers like injuries or expulsions. You can also access your team profile from the mobile phone.  Similarly, TeamSnap is a Web 2.0-ish sports destination site where users can manage their teams with up-to-date statistical information and analyzer tools as well as social elements like blogs and photo-sharing. Meanwhile, other sport sites like FanNation, Sportingo and Rotowire have become a user-generated sports media platform where anyone can be a commentator, critic or sports journalist.

Big portal sites are also developing technologies to keep the action in their leagues exciting and simple to operate. For example, Yahoo offers real-time statistics that are available instantly. ESPN launched the “Live Draft Lobby” which enables players to improve their player-picking skills. CBS Sportsline features podcast and instant messaging updates. As Web traffic to several of these sport fantasy sites increases, there are great advertising opportunities for marketers to tap into this highly engaged gaming audience. Due to the addictive and thrilling experience of fantasy sports, marketers have an excellent prospect of forging long-term connections with the players. eMarketer estimates that US advertising spending on sports-related Web sites will grow from $407 million in 2006 to reach $1.1 billion in 2011. Advertisers in sports fantasy sites now include Visa, Coca-Cola, General Motors, Samsung and McDonald’s, among others.

The industry has a lot of room to grow as it expands to other sports and demographic groups; women are now playing more fantasy games. With improved technology and the integration of social networking elements, sport fans can rest assured that they won’t miss a single action.

Resources: Fantasy Sports Trade Association (FSTA), CNN, eMarketer