Dublin-based bookmaker Paddy Power has launched a new daily fantasy sports product in Ireland and the UK titled Paddy Power Fantasy.
Paddy Power clients need not sign up or register for a new account to make use of Paddy Power Fantasy. With their existing Paddy Power account and account funds, they are able to access daily fantasy sports company FanDuel’s pools in the US, and enter a wide range of sporting contests, including Premier League football, American football, tennis, golf, basketball, baseball, and even hockey.
Many people will have played fantasy sports before, although rarely ever for real money. However, playing daily fantasy sports for real prize winnings is simple enough. You choose your dream team of players from different sides, playing based on who you think will perform well that day, and pitch your team of fantasy picks against other players’.
If the players play well, they will earn you points, and you’ll lose points if they don’t. At the end of each day, the winning manager will be the one whose team has the most points in the league. Contests typically run for one day or a few days at most, which means that players do not need to be tied down to months-long commitments, and can start afresh without waiting too long.
Paddy Power Fantasy, which went live in the last few days of August, is Paddy Power’s first foray into daily fantasy sports outside of the United States. Its parent company Flutter Entertainment, formerly known as Paddy Power Betfair, bought FanDuel – the second-largest service of its kind in the country – in 2018.
FanDuel’s fantasy sports offering was previously live in the UK market. However, it had to be withdrawn in 2017, due to a lack of liquidity.
FanDuel has made major inroads in the regulated US sports betting market since the Professional and Amateur Sports Protection Act (PASPA) was overturned last year, on grounds that it was unconstitutional. FanDuel now accounts for nearly half of the New Jersey betting market.
Flutter CEO Peter Jackson was reported as saying that he was “delighted” with the company’s US performance, and “encouraged by the regulatory momentum that has seen 10 states regulate online sports betting since the repeal of PASPA.”
“Cross-sell is an important contributor to our success, with around half our customers in New Jersey coming from our existing daily fantasy business, while strong cross-sales have delivered 15% market share in online casino.”