Millions Embrace Fantasy Sports, Industry Continues to Grow

Newswise — Millions of sports fans are fantasizing about the outcome of the 2005 NCAA basketball tournament. Millions more dream of fantasy wrestling, fantasy bass fishing and on and on.

According to Kim Beason, University of Mississippi professor of park and recreation management, up to 30 million people entered either an online or office tournament pool for the NCAA basketball championship this year.

In a new Fantasy Sports Trade Association study, which he presented last week in Las Vegas, Beason states that a majority of fantasy sports fans play and compete with friends and co-workers.

"Fantasy sports helps build and sustain personal relationships," Beason said. "In the workplace, NCAA tournament pools, for example, increase office camaraderie, and online tournament pools allow friends living in different parts of the country a chance to keep in touch."

While office pools may be frowned upon by supervisors, Beason's newest consumer behavior study indicates that fantasy sports are in the workplace to stay. Last year, nearly 70 percent of fantasy sports fans admitted to checking or managing their fantasy sport teams online while at work.

Terex, the world's third largest construction company, has embraced fantasy sports in the workplace. On the company Web site, Terex offers a free Web-based fantasy football league for customers and dealers.

"We set up the fantasy football league to increase brand recognition," said Tom Bright, Terex director of parts sales. "Last year, we had 500 people sign up to play. It's been a great success and a lot of fun."

Beason's study suggests fantasy sports is a maturing industry that involves large segments of a person's leisure time and activity. For example, those surveyed indicated participating in fantasy baseball for more than eight years, spending more than four hours per week managing their teams.

"Last year, consumers spent an average of 45 minutes a day just thinking about fantasy sports," Beason said.

The study also suggests that approximately a million additional people are expected to jump on the fantasy sports bandwagon over the coming year, which represents a projected 6 percent growth rate amounting to some 18 million Americans playing fantasy sports. And with the advent of new technology, such as hand-held palm pilots, Beason believes the industry's growth potential to be phenomenal.

"Fantasy sports is big business," Beason said. "It's here to stay." The Fantasy Sports Trade Association Conference was held March 16-17 at the Rio hotel and casino in Las Vegas.

To learn more about the study of park and recreation management at UM, visit http://www.olemiss.edu/depts/eslm/.