Do you remember FanDuel’s “Bitcoin Bowl” in January 2018? If so you already know that FanDuel gave away a total of 3.75 Bitcoin Core (BTC) in a $3 tournament. In essence, this promotion, while innovative told us that FanDuel was open to the idea of offering crypto currency on their site. In fact, introducing this viable alternative has been on FanDuel’s mind for a long time.
But to make sure their players get the best, they had to find a reliable partner. And it seems that the wait is finally over. Indeed, in recent news, FanDuel announced they’d start accepting Bitcoin Cash (BCH) and BTC. This information came to light after the company announced a new collaboration with BitPay.
Live since September
As the market grows, so does the demand for more payment methods. And adding crypto currency is a true stroke of genius. Especially since one of the biggest sporting events of the year is about to kick off, the NFL season.
According to sources, the option works on FanDuels site and mobile application. Sonny Singh, BitPay’s CCO added his 2 cents in the press release and said that.
“We wanted to have the option in place for Bitcoin users to deposit crypto currency into their FanDuel accounts and take advantage of the DFS game. NFL Football is one of the most popular sports betting events to watch and the start of the football season makes it a perfect time to introduce Bitcoin to these fans.”
A Billion-dollar industry
Without a doubt, DFS is a booming vertical in the States, and the product shows an annual user increase of 10%. The massive interest of DFS translates into an industry worth around $8 Billion. In fact, in North America alone, The Fantasy Sports Trade Association (FSTA) estimates that over 59 Million people participate in some form of DFS activity.
And FanDuel together with DraftKing rules over 90% of the market.
Now combining these figures with the increasing interest of crypto currency. And everyone knows that sky’s the limit.