A merger borne of weakness

(K. Brent Tomer),

FANTASY sports have become so pervasive in America that it is often increasingly unclear whether fans care which real-life team wins. The games, in which players speculate on athletics by building teams of virtual players whose performances track those of their real-world counterparts, have blossomed from the informal “rotisserie” leagues of the early 1980s into a massive entertainment industry, with 57m participants and some $1.5bn in revenues per year. Watch a National Football League game today with a group of friends, and you will inevitably be inundated with jokes about how your fantasy team has just tanked thanks to a poor throw from a quarterback—even if it was your beloved hometown club that intercepted the pass and returned it for a touchdown. On the surface, the announcement on November 18th that DraftKings and FanDuel, the two largest players in daily fantasy sports (DFS)—the fastest-growing segment of the market—would join forces in a “merger of equals” would appear to be a case of the industry’s nouveau riche getting much, much…Continue reading

via K. Brent Tomer CFTC A merger borne of weakness

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