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Philadephia Inquirer gets into Fantasy Sports
4/8/10 - The third oldest newspaper in the United States, the Philadephia Inquirer, has entered into a business agreement that will see it using modern fantasy sports betting technology to boost revenues.
Philly.com has inked a deal with fantasy sports provider FanDuel.com that will see it becoming the first online news publication to use the power of daily fantasy sports games to open up a new revenue stream.
Following the model of UK newspapers, which generate millions of dollars in online revenue from betting and paid games, Philly.com plans to launch an online fantasy sports game where players play and win in a day - using real money. Bet on any Sporting Event
Touted as "one-night stand" fantasy sports, the game is a white-labelled version of FanDuel.com, which first launched its standalone game in July last year.
Thanks to the fantasy sports carve-out in the 2006 Unlawful Internet Gaming Enforcement Act, these instant fantasy games are legal in the US – something that the FanDuel team has been very careful to emphasise. FanDuel and its partners generate revenue from taking a commission on each game.
FanDuel has been developed by Hubdub Ltd, the Edinburgh and San Francisco based games development company. Founded in November 2007, Hubdub Ltd launched it's first free game, Hubdub.com, in 2008 and received venture funding in early 2009.
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