Fantasy sports wagering fees top $40 million
October 12, 2015 5:12 PM
by Phil Hevener
The two top fantasy sports wagering companies generated $43.6 million in entry fees for tournaments based on Sunday’s NFL games, suggesting recent cheating allegations have not scared off customers at FanDuel and DraftKings, Bloomberg reported Monday morning.
A record number of people entered what are known as contests, according to SuperLobby, an industry research firm based in the UK. Bloomberg said the two companies received 7.1 million entries to their guaranteed prize pool tournaments.
The weekend games offered the first chance to quantify the impact of a brewing controversy that has lawmakers calling for congressional action.
The sites give entrants the chance to draft a team of real life players. How well those players do on the field on a particular day determines the outcome of the fantasy contest.
SuperLobby tracks how many people play the multi-player tournaments, information the sites make public to people as they sign up.
Bloomberg reported that “so far, the biggest money is sticking around. One of the big money players said he did not feel cheated, “but there is a concern someone could do it.”
After a New York Times editorial that called for a review of the largely unregulated world of fantasy betting, DanDuel and DraftKings went on he defense, trying to reassure their customers.
Phil Hevener has been writing about the Nevada gaming business for more than 30 years. Email: PhilHevener@GamingToday.com.