Introduction

Fantasy sports and legal sports betting have transformed into colossal industries, generating billions in revenue across the U.S. Black fans are notably among the most engaged; however, ownership and economic returns remain largely outside of the community. The untapped intersection of cultural influence and tech ownership presents a historic opportunity.

The Billion-Dollar Industry

The global fantasy sports market was valued at $22 billion in 2023, with projections to reach $48 billion by 2030, growing at a compound annual growth rate (CAGR) of approximately 11.8 %. Meanwhile, the U.S. fantasy sports services segment alone was valued at $10.1 billion in 2023.

On the sports betting side, DraftKings and FanDuel dominate roughly 80 % of the U.S. market. Analysts forecast the U.S. sports-betting market could swell to as much as $39 billion by 2030.

Despite vast engagement, particularly among Black fans—68 % of Black or African American respondents reported engaging in betting activities in a 2023 ESPN survey (the highest among surveyed demographics)—Black ownership in the industry remains nonexistent.

Follow the Money

• DraftKings + FanDuel account for ~80 % of U.S. sports betting market share; U.S. betting market projected to reach $39 billion by 2030

• Global fantasy sports market: $22 billion (2023) → USD 48 billion by 2030 (CAGR ~11.8 %)

• U.S. fantasy services market: $10.1 billion (2023)

• 68 % of Black respondents engage in betting, the highest demographic share

The Cultural Leverage

Black culture—through arena fashion statements, music tie-ins, barbershop debates, and more—drives the modern sports narrative. Yet, there’s no equivalent fantasy or betting ecosystem built for or owned by Black communities, meaning that cultural currency is converted into value elsewhere.

Imagine fantasy platforms that center HBCU football and basketball; connect with NIL athletes; or are curated by artists, podcasts, and influencers embedded in Black cultural spaces. These represent real and underleveraged opportunities to align engagement and ownership.

“If we can dominate the conversation, we can dominate the platform.”

Building Our Own Digital Arena

A clear blueprint exists for change through ownership and cultural alignment:

• HBCU Partnerships: Launch fantasy leagues focused on HBCU sports, tapping into alumni networks, gameday energy, and community pride.

• Black-Owned Tech Ventures: Build fantasy and betting platforms with startup capital from Black community investors, ensuring profits return to the community.

• Media & Culture Crossovers: Collaborate with hip-hop artists, podcasts, and influencers to create culturally resonant fantasy experiences.

Missed Market Share

• 0 major fantasy sports or sports-betting platforms are Black-owned, despite the multi-billion-dollar market.

Conclusion

Black America has long been the backbone of sports fandom, yet profits rarely reflect that loyalty. The fantasy sports and betting industries underscore this pattern—cultural participation without ownership. It’s time for a shift: for Black communities not just to consume, but to own the platforms where cultural capital becomes economic capital.