Yahoo! launched its daily fantasy product this week, aiming to leverage its vast fantasy sports traffic and turn season-long fantasy players into paying DFS users.
“Today, we’re taking the game to the next level and giving fans what they’ve always wanted – the chance to compete with their friends and win cash, every day,” the company said in a press release. “With today’s launch, Yahoo! becomes the first major sports site and the only technology company of its scale to offer its own daily fantasy experience.”
Indeed, for 16 years Yahoo! has been a popular destination for fantasy sports enthusiasts, who, until now, were unable to place bets on sporting events directly through the site itself.
Yahoo!’s DFS product will no doubt become a force to be reckoned in the booming daily fantasy industry. The brand brings even more legitimacy to the market and is one which many players will trust with handling their cash.
But competing with established sites like FanDuel and DraftKings will require a heavy investment. Adam Krejcik, managing editor at Eilers research, says that Yahoo! will need to spend around $100 million this year to keep pace with the industry’s largest sites.
Focus on mobile
According to the tech giant, the company created its DFS apps and software with mobile browsing in mind. Users can play daily fantasy and full season fantasy on Yahoo!’s iOS app, while receiving real-time sports updates. The developers’ aim was to design a product which would give users an “all-in-one experience.”
Yahoo! CEO Melissa Mayer quietly revealed that the company would launch its own daily fantasy site in a recent earnings call, and promised that the product would offer players a brand-new DFS experience.
FanDuel CEO Nigel Eccles, however, was not impressed by Yahoo!’s offering and voiced his displeasure to the Wall Street Journal. “When we heard that Yahoo! was joining the daily fantasy space we expected something new and exciting that could affect the industry,” he said. “Now to see that they’ve spent the last six months cloning FanDuel’s product – pixel for pixel – is totally flattering, but also slightly disappointing.”