Yahoo Gambles With Daily Fantasy Sports

By MarketWatch Pulse

Silicon Valley stalwart Yahoo is moving into daily fantasy sports, a growing field that gives consumers the nearest thing to online sports gambling most states allow. Yahoo, which is a popular destination for season-long fantasy sports, will take a 10% cut of the money that players put in to wager that their lineup of players will perform better than competitors' in that night's action. Yahoo Sports Daily Fantasy -- which will compete with startups like DraftKings and FanDuel -- will begin with Major League Baseball games, and plans to offer NFL action as well. Yahoo cited a study in its news release that said 56 million people in the U.S. and Canada played daily fantasy sports in 2014, up 40% from the year before. The games will be available in 45 states that allow daily fantasy sports.

Copyright © 2015 MarketWatch, Inc.

Continue Reading Below