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Paddy Power Betfair Plc Expand into Daily Fantasy Sports

11 May 2017

paddy power betfairPaddy Power Betfair continue their quest for new, profitable markets, as they have expanded to a largely uncharted territory for European bookmakers. They group has decided to expand into Daily Fantasy Sports and have acquired the mobile led DRAFT operator (http://www.playdraft.com/).

What is the Size of the Fantasy market?

This provides access to one of the fastest growing betting markets in the world, as it is estimated that DFS have raked in $300 million during the last two years. According to Betfair Paddy Power, the acquisition of DRAFT has cost $19 million, while a further $29 million cash injection has been deemed necessary by the group's commercial analysts.

According to chief executive Breon Corcoran: “We are excited to be bringing DRAFT into the Group and to further increase our presence in the United States. DRAFT has a differentiated product and we believe the business, with the support of our marketing and technology expertise, can take share in the fast‐growing daily fantasy sports market”.

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Paddy is the best example of “united we stand” in betting business, as they started as a merger of all Irish bookies, who expanded in many countries and eventually merged with Betfair. Nowadays Paddy’s popularity is exceeding the British Isles, their main area of interest. They’re one of the first bookmakers who took advantage of odds as a commercial campaign, offering odds on bizarre events to attract publicity. Their services could be complete if they added an Asian Handicap option to their great number of alternative betting selections. They still offer their website only in English, by choice.

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