Elise Amendola, AP Bud Selig once tried to warn the world about what would happen if legalized sports gambling spread to more states. Instead of cheering for their favorite teams, the baseball commissioner predicted, fans would be more inclined to cheer for themselves to win money — a factor he said would harm his sport's character. After all four leagues issued similar warnings ineach sport is partnered up with two start-up companies whose business model relies on fans trying to make fast money every day based on player performance in games. It's called daily fantasy sports. It's legal in almost every state.
Consumer behaviors have changed and audacious business models have emerged, all in ways that might have seemed impossible when we were kids kicking footballs around a pitch. The changing consumption of sport Sports entertainment is undergoing one of the most disruptive and exciting transformations of all industries.
The industry that has undergone one of the most disruptive and exciting transformations, and continues to do so, is the sports entertainment industry. Consuming sports is one of the most popular forms of entertainment — from experiencing sports live in-person at a stadium, with friends in a pub, listening on the radio, or watching your favorite team on TV with your kids jumping up and down on the couch, amplifying your own cheers.
The experience is not just a stream of audio and visuals, but the overlay of information and emotion that comes with live analysis, real-time data, and concurrent interaction across multiple screens.
Not to mention sweating the actual sport experience both live or via instant replays, which creates some of the most thrilling and entertaining moments that we experience as consumers and fans. The game inside the game Related Stories Hosting Virtual Game Worlds and Always-On Enterprises It is the exhilarating connection and unification that sports create which explains why consumption has changed so rapidly, particularly over the last years.
New technologies, such as virtual reality and immersive 3D video experiences, brands moving into new OTT spaces, greater connectivity, and portability innovations, have truly changed the game.
Fans no longer watch sports in a linear way.
They can then test their skills and knowledge by playing privately with friends or with other fans globally. DFS is similar to season-long fantasy sports, where players the consumer assemble virtual teams of real players of a professional sport.
These teams compete based on the statistical performance of those players in the actual games. DFS is slightly different from traditional season-long fantasy sports, with the key exception being that the entire contest starts and ends in a much shorter time frame.
Contests range from a single day to one week depending on the sport, and customers pick a team of players based on a salary cap, and those players earn points based on their actual in-game performance.
The great part about DFS is that customers can test their skills and knowledge by playing privately with friends and family or in larger contests with other fans globally.
DFS is an approachable and friendly way to digest and deploy your sports knowledge, and provides players and consumers with an added social component to experiencing their favorite athletes and team.
The fantasy sport eco-system An entire ecosystem is built around fantasy football and other sports, creating a holistic sports entertainment experience for fans around the world. As the leader in DFS, DraftKings has become a key driver behind the digital evolution in sports consumption and is forever changing the way consumers engage with sports.
DraftKings has become a catalyst for a new sports entertainment and media industry, one that integrates sports, technology, data, entertainment, and media to increase consumer engagement in professional sports.
It does this through powering a transformation in sports with apps, content, data, and a growing community of fans sharing sports experiences daily.
Part of what is so great about DraftKings is that while we are disrupting an industry, we have also found that we are lifting other industries and creating additional opportunities for other businesses such as on-air hosts, analytics providers, statisticians, fantasy experts, and an array of media that collect and share player data.
There is an entire ecosystem that is built around fantasy football and other sports, creating a holistic sports entertainment experience for fans around the world.
The numbers reinforce this view: Daily fantasy sports players engage with more content TV, online, in the news than non-players. Streaming services and social media are also innovating, joining the elite list of disruptors and evolving due to sports.
The service will also include components of live television, with the most notable live feature being sports. The service also includes a cloud-based DVR to let users record video to watch at a later time.
We expect to see many similarities emerge in Europe and around the world as our business, and our category with many new competitors emerges and grows. DraftKings and DFS have been at the forefront of sports consumption innovations for the last five years.
DraftKings and DFS in the US have been at the forefront of these sports consumption innovations for the last five years. Since DraftKings was founded in , the company has experienced rapid growth and scaled its product quickly to serve more than 9 million registered customers in multiple countries, including the U.
The company has also forged official partnerships with prestigious leagues and teams around the world, including Euroleague Basketball, the Canadian Football League, and Premier League legends, Liverpool FC. Over the last five years, some of the biggest names in sports have come to appreciate just how much better daily fantasy sports makes the sports experience — creating a deeper connection for the consumer and more excitement for sports fans to watch, consume, and engage.
DraftKings is the fastest-growing company in the industry since its launch in Before joining DraftKings, he worked in the international gaming industry where he gained his extensive knowledge in international business development, commercial law, regulatory compliance, game design, and public affairs efforts around the world.