However, its also expected that the action on these fantasy football sites is also experiencing a major uptick. While neither of the fantasy sports companies are profitable at the moment due to spending on advertising to bring in customers, a combination of the two would likely be huge for their industry.. The sites offer contests that last for a few hours yet offer big money prizes, in exchange for members paying fees to enter.
The latest decisions being pondered by both DraftKings CEO Jason Robbins and FanDuel CEO Nigel Eccles include whether or not to raise more private funding, go public, or if they should consider merging to make one big company. Louis Post-Dispatch report, its been noted that the two respective fantasy sports companies have been weighing their options in an attempt to expand in growth for the future. With sports gambling still illegal throughout most of the United States, it seems like it may be the next best thing for those looking to compete for cash prizes.
In a St. With DraftKings recently receiving $300 million in funding and FanDuel, $275 million, in July, these companies seem destined for high growth in the United States until legalized gambling is brought to fruition. A comparison is made to the merging of Sirius and XM Radio to become Sirius XM, a powerhouse in satellite radio now. Its already estimated each of the companies is worth $1 billion alone, and they continue to grow as more and more Americans sign up to draft their virtual teams. With the recent start of the NFL season, action has picked up in Vegas and with online sports books. Just recently, the Boston Herald reported on Sept. 13 that DraftKings, based in Boston, was betting big on their fantasy sports offering, to the tune of a whopping $24 million spent on television ads. It remains to be seen if the two companies will continue solo or merge to take over the fantasy sports world.
The DraftKings & FanDuel fantasy football platforms may soon merge together to take the sports world by storm