DraftKings, FanDuel to Reward Billions in Contest Prize Money in 2015
Leading Daily Fantasy Sports sites Draftkings and FanDuel are prepared to dole out billions in prize money this year.
The news comes as DraftKings announced it had secured another $300 million in funding on Monday.
The financing round includes investments from Fox Sports, Major League Baseball, the NHL and Major League Soccer, as well as Legends Hospitality (owned by the New York Yankees and Dallas Cowboys) and The Madison Square Garden Company (owner of the Knicks and Rangers). The Kraft Group, which owns the New England Patriots and Revolution, invested in a prior round.
DraftKings says it will reward $1 billion in prize money. FanDuel says it will reward $2 billion.
FanDuel has raised $363 million from the likes of global investment firm KKR and Google Capital, as well as media partners Time Warner, NBC Sports Ventures and Comcast Ventures. FanDuel also has some NFL investors, but it has not disclosed who they are.
- Aaron Goldstein, Gambling911.com
