eSports and Daily Fantasy Sports (DFS) largely were unknown in recent years, but now are poised to become dominant forces in entertainment and gaming.
The millennials-focused eSports and DFS are fledgling industries that are on the cusp of obtaining necessary regulatory approval in many and likely most of the United States, and some suggest legal sports books there and around the globe could reap billions in annual revenues.
Legal sports books outside the United States already offer wagering on eSporting events, but those generally have beenunregulated events.
eSports are millennials-dominant, and its rising popularity and value have spurred self-regulation efforts within the industry, as well as from various governments.
Eilers & Krejcik Gaming estimated the current eSports betting market at $7.4 billion. The market now relies mostly on virtual currency, called “skins,” to conduct wagering.
That likely will grow, though, as more content is made available.
Yahoo Esports and ESL recently announced a partnership to provide live streaming of eSporting contests around the globe.
Yahoo will provide in-depth coverage and storytelling of major live ESL events and stream them live in high definition.
“Our Yahoo Esports team is extremely excited to be partnering with ESL to bring greater coverage of its leading eSports events, as well as innovate in new competitive formats and content offerings that we are sure will excite both fans and advertisers alike,” Yahoo Video and Esports Vice President Zachary John said in a news release.
Yahoo launched Yahoo Esports in March and will provide eSports experts and talent, including Travis Gafford, Taylor Cocke, Dylan Walker, and Michael Mar.
Yahoo Esports also will air the top competitive games including “League of Legends,” “Counter-Strike: Global Offensive,” “Dota 2,” “Street Fighter V”, “Heroes of the Storm”, as well as major topics and personalities in the eSports industry.
“Having a partner like Yahoo Esports means we will not only reach a broader audience with a supreme quality broadcast, but also deliver exclusive editorial content for eSports fans worldwide,” ESL Senior Vice President of Sales Nik Adams said.
While Yahoo is helping to boost the global eSports market, it also is a major player in DFS, where FanDuel has announced a new program designed to transform the market.
FanDuel recently announced the launch of a new DFS program that enables users to click on a “friends” tab and compete in contests only involving their friends.
Doing so enables them to play their traditional friends-only fantasy football leagues on the FanDuel platform, while also having the ability to compete against the wider pool of FanDuel users in traditional DFS formats.
FanDuel CEO Nigel Eccles recently told Yahoo Finance the industry is growing fast, has many large competitors, and the new friends mode will “transform” the DFS industry.
The Fantasy Sports Trade Association says more than 41 million people participated in fantasy sports in the United States and Canada in 2014. With more states gradually legalizing paid DFS, that number is likely to grow rapidly.
Dallas Mavericks owner Mark Cuban, who made his initial fortune during the dot.com craze, and New England Patriots owner Robert Kraft are among those investing in DFS. DraftKings and FanDuel each are valued at more than $1 billion, and growing.
Even Hollywood is getting in on the act, with plans to make a movie about the growth of DFS and various conflicts that have occurred.
Those conflicts include alleged sharing if insider information that lead to big payout to a DraftKings employee from FanDuel, and states banning paid DFS contests after initially allowing them.
