Yahoo introduces Yahoo Sports Daily Fantasy contests, players can win cash prizes

Markets Associated Press

Tech company Yahoo is entering the realm of daily fantasy sports contests with a new product called Yahoo Sports Daily Fantasy.

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The product lets users draft players and creating fantasy teams on a daily basis. Users win cash prizes based on how these teams fare.

Yahoo Inc. said Wednesday it has offered other fantasy sports products, including Full Season Fantasy, to users for 16 years.

The move pits it against two other daily fantasy sports offerings that have been growing quickly, Fanduel and Draftkings.

According to Yahoo, the number of fantasy sports players rose 40 percent to 56 million users in the U.S. and Canada over the past year.