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DAILY FANTASY SPORTS A LUCRATIVE BUSINESS

Friday January 16,2015 : DAILY FANTASY SPORTS A LUCRATIVE BUSINESS
 
Market leader FanDuel's latest numbers show the way.
 
If you ever doubted the potential of the daily fantasy sports betting business, think again; the latest numbers from one of the market leaders illustrates the boom that is being experienced as US players in particular flock to d.f.s. sites and pay to predict the fortunes of their imaginary teams for fun and hopefully profit.
 
FanDuel this week reported full year revenues of $57.3 million, a massive 298 percent year-on-year rise, with the operator paying out $564.4 million in prizes. That’s up from about $14 million the previous year and $1.2 million in 2011.
 
Founder and CEO Nigel Eccles (40) says that he's in the business for the long haul and has his sights set on building a multibillion-dollar business.
 
New York-based FanDuel has over a million paying users and controls about two-thirds of the d.f.s. market.
 
The company, which was valued at more than $1 billion during its last investment round according to some sources, has raised $88 million from investors including Comcast; private equity firms Shamrock Capital Advisors and KKR; and the National Basketball Association
 
It's biggest rival is Boston-based DraftKings, which has attracted $76 million in venture capital.
 
Eilers Research predicts that this year the d.f.s. sector will collect more in entry fees than all the sports books at Vegas casinos combined.
 
Eccles says that FanDuel can rake in $27,500 in entry fees per second, and that he plans to expand the number of live contests, including some at the Playboy Mansion. He’s also talking with sports channels about producing a reality show about fantasy players to heighten the sector's profile.
 
He revealed to reporters recently that the average new customer acquisition cost is $70, but retention is good.
 
“In what other business do you buy a customer for $70 and that user generates $100 per year indefinitely?” he asks, pointing out that good marketing of a good product is the key to success.



Gambling News :

NBA odds on Thunder vs. Pacers Game? - This Wednesday night in Indianapolis, Paul George is due to play his first game at the Fieldhouse as a member of the Oklahoma City Thunder (12-13 SU, 8-17 ATS). But George might not face the Indiana Pacers (15-11 SU, 16-10 ATS); he’s listed as day-to-day with a right calf contusion. Tip-off is at 7 PM ET on ESPN.

2 New Christmas Slots For Microgaming - Microgaming’s jolly game additions this December. Microgaming adds two more games to kick off the festive season, in addition to its action-packed Highlander online slot.

SportsBetting Supreme Court Showdown - Sports Law, Betting and Integrity leaders convene to preview Supreme Court Showdown. Thought leaders weigh in on Christie vs. NCAA (which in January will shift to Murphy vs. NCAA)

Mega Moolah Progressive Slot Pays Again - On 15 November 2017, the Mega Moolah jackpot was won by a Grand Mondial Casino player. They took home €938,306.35.

Microgame S.p.A. in deal with Prima Networks - Prima Networks, powered by Microgaming, has signed a deal with Microgame S.p.A., the leading Italian gaming service provider.

NBA Odds: Heat Can Burn Cavaliers in Cleveland - The Cleveland Cavaliers (12-7 SU, 6-12-1 ATS) may have turned their season around, but they’ve got a challenging matchup this Tuesday against the Miami Heat (9-9 SU, 7-9-2 ATS), tipping off at 7 PM ET on NBA-TV. Miami is 7-4 SU and 6-5 ATS against the Cavs since LeBron James went back to Cleveland in 2014.

Games Concept Day in Malta - The Quickfire Games Concept Day is the second full-day workshop to date, the first being held in Gibraltar in July.

AFC’s fight against match-fixing - The Asian Football Confederation (AFC) has introduced a new AFC integrity mobile application, which will enable fans, players and officials to report possible suspicious activities or provide information concerning match-fixing or corruption to the AFC Integrity Unit.

PartyPoker Removes Dormant Account Fees - partypoker today announced that players will no longer be charged fees for inactivity on their online accounts.

NHL Odds: Rangers Look for Seventh Straight in Chicago - The Chicago Blackhawks (8-8-2) will try to get their season on track this Wednesday when they host the surging New York Rangers (9-7-2) in an Original Six showdown. NBCSN has the coverage beginning at 8 PM ET.

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