Underdog Fantasy Gets Long List of Backers to Fund $10M Investment
Underdog Fantasy proclaimed on Mon it secured $10 one thousand thousand inwards investments, and and then the phantasy sports operator threw a political party online to celebrate.
The Brooklyn-based keep company also proclaimed it would offering a $3.5 1000000 season-long fantasise football game tournament, with the victor getting $1,000,001. The tournament is consort inward Underdog’s “Best Ball” format, which is ace of quadruplet games it currently offers.
In the “Best Ball” format, team owners potation a squad of 18 players and then let it mount on auto-pilot for the season, as in that respect are no trades or releases allowed. The players who garner the most points at to each one view will fall points for the owner’s team. That way the possessor won’t have to frantically place his or her lineup at 12:58 pm ET i Sun because they forgot until the finally narrow to replace a starting running back up on a bye hebdomad before they went with his or her significant other and their parents for brunch.
Besides season-long tournaments, Underdog also offers hebdomadary multi-player “Battle Royale” games, daily multi-player phantasy games, and single-player day-by-day fantasy. The latter is an over-under pick’em parlay-style gamey wherein a player picks between 2 and pentad athletes and wins money if apiece pick is correct.
Athletes, Rappers, Business Leaders Among Investors
The $10 gazillion inwards funding comes from an almost surreal name of individuals. It includes Dallas Mavericks possessor and Shark Tank investor Saint Mark Cuban, former Mickey Power Betfair CEO Breon Corcoran, and stake capitalistic Kevin Carter.
Carter antecedently invested inward DRAFT, a fantasize sports biz founded past Underdog Chairman and cofounder Jeremy Levine.
Kevin Carter was the innate(p) choice to lede our round, as he was the first off investor inward my finally companionship piece he was at SV Angel Falls and believed in us before anyone else did,” Levine said.
The investor listing also features athletes the likes of Kevin Will Durant (with Rich Kleiman’s Thirty Five Ventures), Jared Goff, Gospel According to Matthew Delladova, and Thomas Woodrow Wilson Chandler. It also includes musical duo The Chainsmokers (with Mantis VC) and rappers Nas, Future, and Gunna. There’s also ESPN NFL insider go Schefter, as swell as representatives from the gaming world, including Eilers & Krejcik, founders of SimpleBet, Fantasy Labs, Roto Grinders, and Action Network.
Others pitching in include Bleacher Report host and Louisville sports media legend X Lefkoe.
Lefkoe, Schefter, and The Chainsmokers were among those connection the Underdog founders and crew for an hours-long online case to trumpeter the occasion.
Underdog Among Fantasy Innovators
Underdog, which held its world-class “Best Ball” tournament last-place year, is component of an emerging aggroup of fantasy sports operators that feature transformed the genre. Others inward the industry include Guillotine League, which features NFL leagues where all players caper against each other to each one hebdomad and the lowest power point amount for that calendar week is eliminated.
In addition, same Underdog, PrizePicks and Monkey Knife Fight provide sports betting-styled games geared mainly, though not necessarily exclusively, for people who unrecorded in jurisdictions where licensed sportsbooks aren’t allowed to operate.
That has led to significant investiture in the companies inward recent months. In January, Bally’s Corp. purchased Monkey Knife Fight, while, like Underdog, PrizePicks has landed funding from the likes of poker game pro Phil Hellmuth, former baseball slugger Andruw Jones, and former NBA player St. Andrew Bogut.
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