A comprehensive report on the demographics of daily fantasy sports use has been released by Eliers Research. Among the findings in the report, which surveyed 1420 individuals between June 18th and July 9th, was that a near unanimous 98% of survey respondents identified themselves as male (98%), white (92%) and a millennial (61%).
Perhaps most surprising in the report is that while 53.1% have been playing traditional/season long fantasy sports for more than 10 years — and 78% for more than 5 years — that 48% have significantly reduced their season-long activity since they started playing daily fantasy sports.
Other Notable Findings Among Eilers Research Report
The survey contained tons of good nuggets of info if you are interested in the daily fantasy sports industry. Be sure to read the entire report.
DFS Demographics for Daily Fantasy Sports Participants
In addition to male being the dominate gender of daily fantasy sports participants, players can also be generalized as very white (91%), relatively young (63% under 35 years old) and with a decent amount of disposal income. The average household income among responders was $77,000, with some 77% having incomes of $50k or more.
Traditional Fantasy Sports Participation
While not a secret that most daily fantasy sports players also play in season long NFL leagues, a total of 95% of respondents say they play both, with the typical entry fee for those leagues being under $100. Only 23% play just one league with 15% joining at least five traditional leagues a year. And while fantasy football garners most of the attention in the industry, a full 61% play at least one fantasy sports league other than football.
Profile of Daily Fantasy Sports Player
Daily fantasy sports sites started sprouting up in 2007, but huge widespread growth is only a recent phenomenon. Among respondents of the survey, a full 62% have been playing less than 2 years and only 18% of respondents have been playing over 3 years. When asked about how they found out about daily fantasy sports, 26% found out about the game from a friend or word of month while 25% heard about DFS from the web. TV and radio commercials are responsible for 37% of awareness.
Over 96% of respondents said they would probably recommend daily fantasy sports to a friend. Eilers notes the DFS industry gets a strong 46 Net Promoter Score, a good indicator of happy customers and future growth as those happy customers tell others.
Most DFS players (56%) in the survey identified themselves as an intermediate DFS player, while only 3% identified as somebody who plays DFS for a living. Still, 25% considered themselves as an advanced player who spends at least 10 hours a week on research, plays multiple sports or has a large bankroll. Eilers noted that it believes around 70% of daily fantasy sports users are not making money over the long term from daily fantasy sports.
No surprise that football was surveyed as the favorite daily fantasy sport among players followed by baseball, basketball and golf.
Favorite Daily Fantasy Sports Site and Usage
DraftKings was the most popular DFS site in this survey with 51% of respondents favoring the popular brand. FanDuel was a close second with 43%, followed by “other sites” with 6.4%. Fantasy Aces and Victiv were the most popular popular sites not named DraftKings or FanDuel, although 56% of respondents do not play any other site besides those two. Daily fantasy players were more likely to recommend DraftKings to their friends than FanDuel.
When asked to rate the importance of what motivates a player to play on a specific site, players listed liquidity and availability of games as top choices, followed closely by size of guaranteed prize pools, game format and payout structure.
The most popular buy-in among respondents was $5 or less with 46% responding and 42% saying they spend less than $100 a week on daily fantasy sports.
Pros and Cons of Daily Fantasy Sports
When asked to answer what they liked most about daily fantasy sports, 35% responded that it makes watching the games more fun and engaging while 31% most liked the thrill of having money on the line.
Daily fantasy sports is not without its faults. 32.4% said they did not like the rake structure of daily fantasy sports site and 31.8% did not like the offering of multiple or unlimited entries in guaranteed prize pool tournaments.