Scandal, Schmandal. Fantasy Sports Still Rake In Millions
Fantasy sports sites like DraftKings and FanDuel are facing scrutiny over their business practices, but they still stand to make millions of dollars.By Jamal Andress | October 21, 2015
For daily fantasy sports, 2015 has been the best of times ... and the worst of times.
On Sunday of week five of the NFL season, more than $45 million was spent on entry fees on DraftKings and FanDuel — the largest day of participation this NFL season. Between FanDuel (3.4 million) and DraftKings (4.1 million), there were more than 7.5 million entries on Sunday alone.
Along with the money these companies are bringing in, they are paying out quite a bit. FanDuel and DraftKings combined paid out more than $40 million in prize money Sunday of week five. And FanDuel says it will pay out more than $2 billion before the season ends.