Do you think fantasy sports requires more skill than luck? According DraftKings CEO Jason Robinson, the potential to predict the outcome and the understanding of sports statistics needed to do well are what it takes to be truly successful at fantasy sports—not just luck. And if anyone knows fantasy sports success it’s DraftKings, which claims to be the fastest-growing company in daily fantasy sports, has over 2 million registered users, and has made more than $100 million in revenue in the three years it’s been in business. They only appear to be growing as a powerful industry force.
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“On Monday, DraftKings, which ranked No. 45 on the 2015 CNBC Disruptor List, secured another $300 million in funding and is now valued at $1 billion—putting it firmly in the elite club of Wall Street unicorns. Its list of investors include Fox Sports, Major League Baseball, the National Hockey League and Major League Soccer. Robins said there is a synergistic relationship between the site and its investors. ‘When people play Draft Kings’ fantasy products they tend to watch more games, they tend to be more into the statistics and doing research on the games,’ he said.”
Even with such success, it’s difficult to say if fantasy sports will always stay on the right side of gambling legislation. A lot of major companies are investing in the practice but not everyone is willing to accept its validity as a game of skill and legal means of income. Some have even said that, in order to do well, you don’t need as much of an understanding of sports as you do an understanding of gambling, and that the activity can be risky, feed into gambling addictions, and is misrepresented as a quick and easy way to “double your money”.