Yahoo Looking To Enter eSports Arena With Major League Gaming Acquisition
The opportunities to offer real money prizes in a format other than gambling is exactly what players like Yahoo are looking for. Following their entry into the now controversial DFS sector in July, Yahoo are reportedly looking to expand into the growing eSports industry with their acquisition of eSports organization Major League Gaming (MLG).
The exact details of the deal are not known but reports are that Yahoo is looking to add the option of posting bets on eSports to their current daily fantasy sports offering. Yahoo are looking to follow their rivals in the DFS market FanDuel who in September partnered with AlphaDraft in order to offer their DFS product in the eSports market. DraftKings have also announced their intentions to offer an eSports product which is no surprise as they seem to mirror FanDuel’s moves.
MLG was founded in 2002 by Mike Sepso and Sundance Giovanni. They have since raised $10 million in financing by Ritchie Capital Management. Yahoo are not the first technological giant to get involve in eSports as Amazon acquired the live streaming platform Twitch last year for a $970 million. Google also entered the arena with their launch of YouTube Gaming a few months ago which subscribers pay $9.99 a month.