FanDuel claims to have made over $10M in payments to its fantasy players. That get your attention?
FanDuel is a daily and weekly fantasy sports game site. The product offering is currently focused on only US-based sports. Wait, isn’t sports betting illegal? Well, not entirely. The 2006 Unlawful Internet Gaming Enforcement Act has a loop whole which apparently allows for this type of “daily game.” It’s 100% legal.
For FanDuels’ users, it’s quite easy. You pick nine players that fit under the salary cap, and in the end one player in the league walks away with the prize.
In what are some rather widespread advertising campaigns, FanDuel is coordinating multiple free-to-enter baseball pools to kick-off the MLB season. They’re trying to get you hooked. In these leagues players can walk about with a $1,000 first place prize.
Along with this recent publicity, the site has recently raised another $1.3M round of funding from its existing investors. The total capital raised to date is now $7m.
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