The world of Daily Fantasy Sports (DFS) has picked up vast momentum in the past year, and it’s hurling through the market at considerable speed. Here we’ll take you through a short story of how DFS came to be.
How It All Started
It’s easy to forget that the concept of Fantasy Sport has actually been around for a very long time – as early as World War II! Fantasy Sport can be thought of as DFS’ ‘older grandpa’; they’re both related but they’re very different in terms of speed and excitement.
DFS is the younger, faster, more modern version – instead of a player having to hold out for an entire season of the game, it could now be played in a day, making for immediate winnings and immediate gratification (To know more about exactly what Daily Fantasy Sports entails, click here). It was first born online by FanDuel back in 2009. This is the earliest as well as the biggest DFS gaming website out there. Nigel Eccles, the founder of the company realised a gap in the market, in terms of the era of technology, (as well as the law), that allowed for a daily model of Fantasy Sport.
From here, it was a rapid snowball effect: other DFS companies began forming, including the likes of RotoGrinders (2010) and DraftStreet (2010).
Amongst them was DraftKings, founded in 2012. It has the second biggest influence in the online DFS community. Both FanDuel and DraftKing rose to fame and fortune when DraftKings became the first company to be invested in by a professional sports organisation, Major League Baseball, and FanDuel today is worth over a whopping $1 billion. They most definitely reign supremacy over the DFS world right now.
So, Where’s It All Headed Now?
It’s the age of the technological advancement, where things are done in the now, within a matter of milliseconds, and right in your pocket. DFS accommodates, and is even moulded by this demand. It is widely accessible on mobile devices and the quick format of the game suits the fast-paced lifestyle we lead today. The hefty cash prizes, going all the way up to a staggering $1 million, make for an appealing play too.
The future for DFS looks promising – it hasn’t even reached its peak yet. According to research, it is predicted that DFS will “grow by 41%” each year, and reach highs of $14.4 billion in 2020. On that note, there is definitely space for expansion in the UK market for a big online DFS site, so get ready and hold on to your seats.