If the lines between legal sports betting and daily fantasy sports haven’t been blurred enough, what will an iGaming-like experience bring to the industry?
We’re about to find out. FantasySpin, a free slot-style game that allows you to build a DFS lineup, has acquired the DFS site BettorFantasy and will soon create a cash-based contest combining the two online betting sites.
“These two brands teaming up is excellent news for fantasy players worldwide, and I'm thrilled to witness the exciting possibilities that lie ahead," BettorFantasy CEO Sahil Patel said in a released statement.
The collaboration is looking to redefine the daily fantasy sports experience, and Patel believes this will be a “game-changer.”
Merging markets
FantasySpin’s app offers a virtual slot game that uses skill and strategy to build lineups and allow users to win prizes through free tournaments.
BettorFantasy, which was founded in 2021, is licensed to operate in 20 U.S. states and has quickly built a brand with innovative contests. Users enter these contests with a prop roster through an "Action Draft" and compete for cash prizes.
The merger brings FantasySpin into those U.S. markets, which includes a handful of legal sports betting states.
Public battle
DFS and sportsbooks have been waging a public battle for years, with some of the biggest names in the industry going at it through the media.
This summer, online sportsbook giants FanDuel and DraftKings got into a war of words with DFS site Underdog. A FanDuel representative called DFS sites “illegal sportsbooks” because they aren’t under the same rules and regulations and have markets that greatly resemble prop betting.
Underdog CEO Jeremy Levine took exception and said that the sportsbooks are trying to “squeeze” DFS sites out of the competition.
DFS has come under fire in legal betting states as well. Lawmakers in New York and Michigan prohibited the use of DFS’s pick’em contests this week because of how closely the unregulated sites are to sports betting. Other states, like Ohio and Florida, are also battling daily fantasy sites.
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