An estimated 35 million people in North America participated in fantasy sport in 2011. This study examines how participation levels in fantasy football affect team identification, team loyalty, fandom of the National Football League (NFL ), and consumer behavior. Survey results indicate higher fantasy participation levels leading to higher team identification, higher team loyalty, and higher fandom, where fandom of the NFL is higher than team identification. Other results show higher levels of fantasy participation led to more time spent watching NFL games as well as more time spent online researching and updating their fantasy football team. Additionally, 41% of fantasy football participants prefer a win by their fantasy team instead of their favorite team. A win preference of fantasy team resulted in lower team identification and team loyalty, which has major implications on ticket sales, team merchandise sales, and sponsorship sales.