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Yahoo introduces betting to its fantasy sports

Yahoo introduces betting to its fantasy sports

Faced with stagnant advertising revenue, Yahoo Inc. is hoping for a boost by joining a booming industry: fantasy sports betting. The Silicon Valley giant announced this week that it launched Yahoo Sports Daily Fantasy, a betting service that could introduce tens of millions of people to legalized online sports gambling. The service, available through a mobile app, allows users to compete in groups or individually by betting on a professional athlete's performance. Daily fantasy games will generate about $2.6 billion this year in entry fees, an industry euphemism for wagers, growing 41% annually to an estimated $14.4 billion by 2020, according to Eilers Research in Anaheim. The...