FanDuel plots fantasy e-sports move with AlphaDraft acquisition
FanDuel is to expand its services into the fantasy e-sports market after striking a deal to acquire platform AlphaDraft.
Under the agreement, daily fantasy sports operator FanDuel will leverage the partnership to enhance and expand its core product offering in order to reach new fans while maximising engagement.
As part of the deal, FanDuel will bring e-sports operator AlphaDraft’s employee base in-house to help create a “one-of-its-kind” daily fantasy product specifically for e-sports.
AlphaDraft has already established itself in the e-sports market and has secured financial backing from a number of high profile investors, such as former NBA basketball commissioner David Stern.
The acquisition comes after FanDuel last month also struck a deal to purchase sports analytics company numberFire.
“It is clear that FanDuel is committed to the fan community,” AlphaDraft chief executive Todd Peterson said.
“This pairing creates an incredible opportunity to drive the fantasy industry forward and create compelling products that will enhance all fan engagement.”
Nigel Eccles, chief executive and co-founder of FanDuel, added: “With over 200 million people globally watching e-sports, AlphaDraft gives those fans a way to engage with this burgeoning entertainment product that creates an enormous opportunity for us.
“This is sports for a new demographic, with very little crossover with what are considered traditional sports fans, and this acquisition gives us the ability to leverage the expertise of AlphaDraft’s team, while helping their efforts in customer acquisition and building awareness of this new industry.”
Related article: FanDuel to acquire sports analytics firm numberFire