Online horse racing firm enters fantasy sports sector
News on 22 Sep 2013
News on 22 Sep 2013
BetAmerica is a San Francisco-based company best known for its virtual horse racing operations, but it will soon be a big name in the US fantasy sports sector if CEO John Ford achieves his goals.
The company is diversifying into the skill gaming field with FanEx, a fantasy sports website which offers a real-money hub for fantasy sports fans to compete in daily fantasy sports leagues.
Speaking to the publication GamesBeat, Ford said that FanEx is offering a range of fantasy action on sports that include NFL Football, Major League Baseball, and NBA Basketball. And the company has plans to expand that soon into PGA Golf and horse racing.
Ford is confident that FanEx can differentiate itself in a tough competitive market through its EasyScore proprietary system, which simplifies fantasy sports action for the punters, and – Ford claims – has the potential to attract players and turn the industry on its head.
BetAmerica is no stranger to holding and disbursing large sums of money – its online horse racing operation has paid out over $100 million to players since 2007, Ford says.
Likely competition for the new venture will include FanDuel, the current leader in daily fantasy sports, which has been around since 2009, and claims that it pays out over $2 million in prizes every week.
FanDuel Inc is a US company based in New York City, but with techie staff operating from Edinburgh, Scotland. The company has to date raised $18 million in venture capital and numbers companies like Pentech Ventures, Piton Capital, Bullpen Capital and Comcast Ventures among its investors.
