Former Competitors DraftKings And FanDuel Team Up To Stay Afloat
DraftKings and FanDuel announced a planned merger that should become official in late 2017, if it's approved by federal regulators.By Grant Suneson | November 18, 2016
DraftKings and FanDuel are trying to merge in what could be a last-ditch attempt to save each company.
Both companies operate daily fantasy sports sites. They're similar to regular fantasy football teams where players pick from a pool of pro athletes based on who they think will have a better game. But contests only last for a day, a week or a portion of the season. Players pay to take part, and those with the highest scores win cash prizes from the pooled entry money.