Market segmentation and consumer motivation are among the most important concepts utilized in the prediction and explanation of consumer behavior. Although fantasy sports consumption has shown a remarkable growth in recent years, there has been limited research on the characteristics of participants of this activity, motivational factors influencing participation, and the effects of these factors on consumer behavior and preferences. For this purpose, we aimed to reveal the motives of fantasy football consumers, to comprise motivational market segments, and to show the potential differences between the segments in terms of experience. In the present study, we used non-hierarchical clustering (K-mean analysis) and hierarchical clustering (Ward cluster algorithm) analyses to determine the number of segments. In addition, we analyzed the potential differences between segments using ANOVA and chi-square analyses. As a result, we found that fantasy football consumers were classified into three different segments (loyal gamblers, hedonists, and casual players) with a motivational basis for the different behavioral responses. According to difference analysis, the consumers who are in different segments were found to be statistically different in terms of consumption behavior and experiential characteristics. The theoretical and practical effects of the study results were evaluated for academicians and practitioners.
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