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News Roundup: UK greenlights Yahoo DFS, Mondogoal stops cash contests, DFS industry may double by 2021

Big changes are occurring in the DFS world: from Yahoo Daily Fantasy Sports getting the green light in the UK, to Mondogoal closing its doors on cash contests for players, there’s a lot going on!

Plus a recent report has suggested that the DFS industry may double by 2021. Want all the deets? Read on…

Yahoo Daily Fantasy Sports coming to the UK

Yahoo logo outside company building

Yahoo Daily Fantasy Sports will soon be available for UK players! The UK Gambling Commission has given Yahoo the green light to enter the UK market.

Yahoo plans to offer daily fantasy football contests. The UK site will localise deposit currency to British pounds, but we’ll also be able to play in contests with American and Canadian fans, meaning there are even bigger cash prizes to win.

The Yahoo Daily Fantasy Sports platform joins big players DraftKings and FanDuel in obtaining a UK license. Despite the latter two operators fiercely denying DFS has anything to do with gambling, all operate under ‘pool betting’ licenses here.

Online gambling is legal in the UK, but all sites require a license. Conversely, operators have been arguing that DFS is purely a game of skill in the US, where online gambling is illegal.

As the third biggest player in the DFS market (though trailing behind the big two), we welcome Yahoo Daily Fantasy Sports to our shores! What with the DraftKings FanDuel merger coming up next year, it’s great to have more places to play. However, on the flipside…

Mondogoal stops cash contests; becoming business-to-business platform

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Just as one DFS operator enters the stage, another exits. On December 1st Mondogoal stopped offering cash contests to players. Instead, the company is focussing on providing its gaming platform to other sports betting sites, in a business-to-business model.

Mondogoal offer this message to their website visitors:

“As of December 1st, Mondogoal will no longer be open for cash play. We have decided to move forward as [a] business to business operation. All remaining balances are segregated and available for withdrawal.

“Please continue to play our freeroll contests and look for us on your favourite betting platform.”

So you’ll be able to play Mondogoal goal contests for money on other websites, plus Mondogoal still offers freeroll contests on their own site. However, Mondogoal is no longer the home of daily fantasy football contests it once was.

Instead, Mondogoal is becoming more like Global Daily Fantasy Sports, the readymade daily fantasy gaming platform which is making headway with development and investors.

Anyone who has deposited money with Mondogoal will still be able to withdraw their cash from the site.

Report Suggests DFS Industry Could Double by 2021

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A UK market research company has reported that the daily fantasy sports industry could double in value by 2021. This will take the industry’s worth from $2.6 billion to $5.3 billion.

Juniper Research conducted a study on the industry’s future, and have produced very optimistic results. This is mainly because of the news that DraftKings and FanDuel are merging in 2017. Researchers state in their press release:

“Current leaders DraftKings and FanDuel represent over 90% of the Daily Fantasy Sports market; the recent merger between the two will see them consolidate their position and dwarf closest rival Yahoo.”

Juniper also attributes the industry’s future success to developing new markets in the UK, Australia, and Latin America.

However, they warn that DFS operators need to be careful about possible financial constraints, particularly big payouts on guaranteed prize pools. The report also mentions difficulties in relation to big advertising campaigns, which drain money and have been costly to DraftKings and FanDuel in legal fees.

Researcher Lauren Foye states: “Both they and emerging players will need to quell suggestions that only 10% of ‘professional’ players win the monetary prizes on offer”, and mentions private leagues as a good alternative. DraftKings have recently done this on their UK site with their Social Leagues feature.

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