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SBD/November 10, 2014/Marketing and Sponsorship
NHL Signs Two-Year Deal With DraftKings As Rise Of Daily Fantasy Games Continues
Published November 10, 2014
FANTASY SPORTS, REAL MONEY: In N.Y., Justin Tasch wrote daily fantasy sports "are on a meteoric rise." About 41 million people play fantasy sports, and of those, about 3% "partake in daily leagues, a number expected to increase significantly over the next several years." Daily leagues "are growing so fast they are revolutionizing the industry." FanDuel "recently struck up a partnership" with the Nets, and DraftKings has deals with the Patriots and MLB. DraftKings "takes a flat commission on each contest, typically 6-9%, but says that can vary based on the type of contest, while FanDuel’s cut is 9-10%." Both companies "are flourishing." FanDuel garnered $70M in its "most recent round of funding with investments from Shamrock, NBC Sports and KKR, about a week after" DraftKings raised $41M "in its own funding efforts." FanDuel "pays out more than" $10M per week, and DraftKings has a top weekly prize of $1M (N.Y. DAILY NEWS, 11/9).