FanDuel grabs $70 million


In the US, fantasy football is multi-billion dollar online industry. According to the Fantasy Sports Trade Association, there are around 23 million Americans participating in fantasy football each year, with an average gamer spending three hours per week managing his fantasy team. For 23 million players, this translates to 1.2 billion online hours over a 17-week season.

With stats this big, it’s no wonder that investors are betting their money in fantasy football startups. Last week, DraftKings grabbed $41 million in funding. Today, rival FanDuel announced that it has raised $70 million in fresh funds. Read about the story here.

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