Fantasy Sports Get Fans and Financing by the Millions
September 27, 2012
Fantasy football players aren't the only ones hoping for a touchdown; investors are also vying for the win by betting on what could be the next big fantasy sports startup. Fantasy Sports is a $2 billion market, according to a whitepaper put out by sports-focused investment bank Park Lane. Along with the estimated 20 million Americans that participate in fantasy sports each year, venture capitalists are also pouring millions into the companies that allow us to play. A number of fantasy sports startups have snagged funding this year—Boston-based DraftKings, daily game site FanDuel and numberFire, an app bringing data analytics to fantasy football, all raised new rounds. There are exits to be had in the field, too. Fastpoint Games sold to Weplay in May, and PicksPal was acquired by Liberty Media back in 2009. Game on!