News From The Sports Scene

Fantasy Sports Market Further Matures with Escrow Services

Fantasy Sports Market Further Matures with Escrow Services

Forbes reports that the billion-dollar fantasy sports business might become even more popular and easier to play for money with escrow companies popping up. Large players as FanDuel and DraftKings offer daily fantasy sports for money against players from all over Canada and the US, but other sites like ESPN and Yahoo offer mostly free games, but we all know tons of money is involved in those games too.

Most amateur fantasy sports players pool together some money for March Madness or the NFL season with friends and colleagues, but the hassle of organizing the money aspect proves to be a pain time and time again. These escrow companies like LeagueSafe and FanHold fix this big problem, and major annoyance, with fans of fantasy sports.

When using companies like FanHold and LeagueSafe players send their money, in a PayPal-like system, to the aforementioned websites. The websites hold the money in escrow until the end of the season, or until the winner is known. The league commissioner can then quickly send money to the winner without having to chase after unpaid league fees, or wire money themselves.

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