The largest sports betting firm, Dublin-based Paddy Power, has acquired Daily Fantasy Sports operator Draft.
This would be Paddy Power’s first foray in the Daily Fantasy Sports market.
Reports suggest the Irish betting firm paid an initial $19m with a further cash consideration of up to $29m to be paid out over the next four years based on performance.
While the US DFS market made around $300 million last year, legal ramifications slowed the industry down. In recent months several Daily Fantasy Sports companies in the United States have been shuttered.
- Aaron Goldstein, Gambling911.com