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Millionaire Man Cave Dwellers
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Author:  The Breeze [ Thu Jan 15, 2015 10:40 am ]
Post subject:  Millionaire Man Cave Dwellers

Just caught this article on the phantasy sports craze. Pretty good read:

http://www.businessweek.com/articles/20 ... picks=true



Quote:
At that moment, FanDuel is raking in $27,500 in entry fees per second. Eccles says he plans to expand the number of live contests, including some at the Playboy Mansion. He’s talking with sports channels about producing a reality show about fantasy players, or maybe a show like CNBC’s Mad Money but about pro athlete values instead of stocks. “I just think that’d be really interesting TV,” he says.



Quote:
The site collects 10 percent from each entry fee and leaves the rest for prizes. Revenue last year, after paying out $564.5 million in winnings, was $57.3 million. That’s up from about $14 million the previous year and $1.2 million in 2011. Eccles says the company isn’t profitable, “but we’re building a multibillion-dollar business.”

About 80 percent of FanDuel revenue comes from top-quintile spenders such as Bryce Mauro (3rd_and_Schlong), a 21-year-old student at DePauw University. Mauro says he spends about $35,000 on as many as 1,000 NFL contests per week on FanDuel and other sites, plus another $15,000 per night on basketball. He says he made $250,000 in profit last year. “I do it as my full-time job, basically,” he says.


read more at link

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