Fastest Growing Segment In Sports Industry (Bloomberg)
According to the Fantasy Sports Trade Association, $3.38 billion were spent last year on daily-play fantasy sports ??? making it the fastest growing segment in sports fantasy. The association???s president, Paul Charchian, said, ???It???s growing so fast by the time we get research back, it???s already out of date. It???s gotten more investment in the past two years than in the history of fantasy sports combined.??? In fact, just last November, DraftKings Inc., a Boston-based organization of daily fantasy players, just completed a November fundraising that stuffed its coffers with an additional $24 million. Even Comcast Ventures ??? the venture capital affiliate of NBC???s Compcast Corp. was part of a group that helped fund FanDuel Inc., to a $11 million stake. So what???s the timeframe on publicly traded fantasy sports?