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Sports betting is on the rise and fantasy sports is the main proponent

A man wearing a dress holds a sign after apparently losing at Fantasy Football. (AP Photo/Chuck Burton)

Fantasy sports have gone from a weekend side hobby to a billion-dollar industry with millions playing every year.

Research done by the Statista Research Department shows that, since 2003, the number of fantasy sports players in North America has increased by 311%, or 47.3 million people. Since 2015, the increase has been 5.7 million people, or a 10% increase.

Along with the staggering number of people managing fantasy teams, money has flooded into the market via sports betting.