Yahoo to Offer Daily Fantasy Sports

Yahoo has announced it will join the fast-growing daily fantasy sports industry saying it will offer its own product starting this summer. The offering could be a serious challenger to DraftKings and FanDuel, which currently dominate the market.

Yahoo has announced it will enter the daily fantasy sports ring with a plan to go live in the second or third quarter of this year.

“We have a new daily fantasy offering that will launch this summer,” Yahoo CEO Marissa Mayer announced during a first quarter earnings call for the company.

Yahoo will join DraftKings and FanDuel in competition for the daily fantasy market and the announcement immediately set off speculation on Yahoo’s future impact on the industry.

Yahoo had seemed to be backing off from season-long fantasy sports, but one-day fantasy sports leagues—which offer prizes for daily play—have been growing steadily in popularity.

Still, the company does have a history with fantasy sports—and a digital player base—but the question before the company is whether its entering the daily leagues too late or if there is room for a third competitor.

Meanwhile, the Walt Disney Co. has just announced a $250 million investment in DraftKings, which is already being promoted heavily on the Disney-owned ESPN networks.

Also, Amaya gaming—owners of PokerStars—have also announced plans for a daily fantasy offering this year, meaning a total of four major players could soon be trying to divide up the DFS pie.