This man is blowing up fantasy sports
The notion of playing general manager by assembling an imaginary sports team has been around since the 1960s, when a company called Strat-O-Matic created a card game based on the concept.
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DraftKings, founded in 2012 and based in Boston, is one such app. FanDuel, founded in 2009 and based in New York, is another. Both
companies have raised hundreds of millions of dollars (and garnered
billion-dollar valuations) from blue-chip investors as they vigorously
compete for eyeballs and wallets in an estimated $15 billion business.
The Fantasy Sports Trade Association, created in 1997 to lobby for the
industry, estimates that there are 57 million fantasy-sports
participants in North America.
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DraftKings and FanDuel control 95% of the daily-fantasy market, estimates Eilers Research, and for now DraftKings appears to have the edge. “DraftKings is outspending FanDuel by 4X,” says Eilers partner Adam Krejcik. “So they’re seeing the result.”
DraftKings and FanDuel control 95% of the daily-fantasy market, estimates Eilers Research, and for now DraftKings appears to have the edge. “DraftKings is outspending FanDuel by 4X,” says Eilers partner Adam Krejcik. “So they’re seeing the result.”
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