Yahoo is bringing real money to its popular Fantasy Sports app, expanding from its previous season-long contests to daily and weekly ones, launching the new Yahoo Daily Fantasy product for desktop and mobile devices on Wednesday in the 45 states where virtual sports wagering is legal. Users can reportedly pay up to $600 a day, and Yahoo charges 10% of each contest entry fee.
Fantasy sports have been gaining momentum in recent years. A recent survey by the Fantasy Sports Trade Association reports that over 56.8 million people participated in fantasy sports in 2014, growing 40% from 2013. As fantasy sports continue to grow, the audience it congregates seems ripe for relevant brands to capitalize on through sponsorships and partnerships.