Yahoo plans fantasy sports move

rnet corporation Yahoo has announced its plans to enter the daily fantasy sports market.

Yahoo CEO Marissa Mayer confirmed the move at an earnings call to discuss its financial results for the first quarter of this year.

Yahoo’s net earnings fell 93% year-on-year from $312m to $21m in Q1, and its adjusted EBITDA decreased 25% from $306m to $231m.

The move echoes that of provider Amaya Gaming Group, owner of poker brand PokerStars, which plans to extend its offering to fantasy sports, as its CEO David Baazov confirmed at a conference call last month that it plans to launch its fantasy sports product in time for the start of the National Football League season in September.

Fantasy sports are legal in more than 40 US states, and bills have been introduced relating to the matter in various US states this year.

Two separate bills were introduced in Washington in January, which seek to have the games classified as skill as opposed to gambling, while a bill to legalise real-money daily fantasy sports in Louisiana was submitted by State Representative Joseph Lopinto earlier this month and Iowa’s Senate passed Senate File 166 in March, defining them as games of skill.

Two separate sports betting bills were put forward in Indiana in January, one of which included fantasy sports.