Posts Tagged ‘internet poker transactions’

Is Daily Fantasy Sports going through a Poker Boom?

Friday, November 21st, 2014

chris-moneymaker-andrew-luckEven today, many poker players like to discuss the Poker Boom, which, depending upon whom you ask, lasted from 2003 – 2006 (maybe until ’08). Regardless of when the Boom ended, many can agree that the downturn’s fondation was laid when the United States enacted the Unlawful Internet Gambling Enforcement Act (UIGEA). But one activity that avoided the umbrella of this unfavorable 2006 bill against online gambling: fantasy sports.

Largely thanks to the NFL’s deep pockets and desire to keep fantasy sports alive – due to the fan interest it brings – fantasy sports don’t come with the same limitations as online poker and casino games (at least for Americans). So players can use PayPal and other handy forms of payment to fund their accounts.

This is just one reason why daily fantasy sports (DFS) have been exploding over the past 1-2 years. Now, just like online poker today, sites like DraftKings and FanDuel are offering multi-million dollar tournaments.

As we covered before, poker pro Matt Smith was a big beneficiary of one of these tournaments. Smith earned the million-dollar top prize in a $2.2 million NFL tourney on DraftKings. Other noted poker pros who did well in this tourney included Brian Hastings, Aaron Jones and Tony Dunst.

Of course, a boom isn’t built on the participation of pros, but rather the average Joes. And as this New York Post article indicates, Mr. Average Joe is setting his DFS lineup far more often these days.

The NY Post cites how FanDuel expects to pay out over $500 million in prizes this year, and over $1 billion in 2015. Their player base will also reach 1 million people this year, quadruple what it was in 2013. And while 1 million is FAR off the 50 million-plus that PokerStars boasts, it indicates that the largest DFS sites are growing by leaps and bounds.

Will DFS ever reach the lofty status that online poker did in the mid-2000s (and remains at today)? Well, there’s no Chris Moneymaker figure in the DFS world yet. But both DraftKings and FanDuel seem to be driving the game, much like PokerStars and Full Tilt did for internet poker. And with DFS tournaments growing larger and larger, it’s only a matter of time before the football-loving version of Moneymaker comes along.