Daily Fantasy Sports has become a favorite past time for many sports lovers in America. In May 2015 fantasy sport was a $2B industry, experiencing 10.7% annual growth, and employing 4,386 people in 292 businesses. In September 2015, Forbes reported that Eilers Research was projecting that daily fantasy games will generate around $2.6 billion in entry fees in 2017 alone and grow 41% annually, reaching $14.4 billion in 2020. Fantasy Sports have become a social element that helps people to connect with friends and strangers alike as one can play and win money in the process. As a matter of fact Daily Fantasy Sports is different from the traditional fantasy sports which was mainly played with friends and was viewed as a means of keeping in touch with friends throughout the season. With the modern daily fantasy sports there is a possibility of making serious money as you can create a league with friends, coworkers, social media contacts, followers, and even strangers. With the possibility of creating private contests, engaging multiple players and the possibility of winning big money fantasy sports is becoming a huge part of sports lovers. Players can now create contests and decide the entry fees and how the winnings will be split amongst the winners. Therefore, with the interest in Fantasy sports growing it has moved away from being just a social experience to a more meaningful platform that people can make money by creating excellent leagues and selecting the best players for their teams. As a matter of fact, there are several people that play daily fantasy sports professionally and as a source of income thus showing how much the industry has grown.
In this respect, daily fantasy sports sites have grown in prominence in recent years as more people engage in the games. The daily fantasy sports sites earn a 10% commission for each contest however credit card processing is as high as 5% cutting profits in half. PayPal is no better and player deposits can be frozen or worse stolen. Combined with the risk of fraudulent deposits and charge backs a more secure and cost effective solution is needed. To boost these experiences and ensure that the players reap maximum benefit from the games there is need for a more viable solution that is safe for both players and the daily fantasy sports websites. To solve these and other problems we have created DFScoin. Our coin is more secure for both the end user and fantasy sports sites. Transaction costs are drastically lowered. With our blockchain and open ledger players can be confident that their deposited funds are safe and used only to payout prize pools.
The DFScoin will be used as an in game currency for contests and competition where by users will stake a given amount of the cryptocurrency against their leagues. The winners will then be paid in the coin with the sites deducting their commission as usual. The biggest difference will be felt by the players in terms of the transaction costs. Whereas credit cards companies charge as much as 5% for processing payments, the DFScoin charges will be much lower to ensure that the players get to keep large proportion of their winnings. The players will also be able to send each other DFScoins at minimal transaction fees as compared to the high credit card companies’ fees. This can even help players lend each other coins to play in their preferred leagues and pay back at very minimal costs. In addition, the players can choose to keep their DFScoins in the blockchain securely for future gaming without the fear of losing their currency, their money being frozen or potential threat of hacking.
We have taken major steps to ensure that DFScoin is available to players in playing daily fantasy sports across multiple platforms. DFSCoin will be available starting this NFL season on DraftDaily.com, FanLucci.com and other sites using our platform and on many crypto currency exchanges by September 2017. DFScoin also looks forward to collaborating with many more other daily fantasy sports companies to adopt the cryptocurrency as a payment method on their websites. This will ensure that players can use the coin conveniently to place stakes on both public and private contests. Also, the DFScoin availability on multiple exchanges means that players can easily convert their fiat currencies to the coin easily and at the same time convert their winnings to fiat. Most importantly, the conversion of the cryptocurrency to and from fiat currencies will be instantaneous thus enabling winners to withdraw their winnings immediately unlike using credit card companies which may take longer to reflect on one’s account. These fast processing speeds coupled with low transaction fees will help boost the overall experience of playing fantasy sports.
Also with fantasy sports, people from different countries can play the daily fantasy sports in a seamless manner. Furthermore, the coin can be used for different sports and leagues and as such it expected to change the fantasy sports experience in a huge way. With an initial supply of 210,000,000 coins it is expected the DFScoin will dominate the daily fantasy sports industry and set the standard that all users and players alike embrace. This limited supply is also expected to raise the demand for the DFScoin meaning that users can not only gain from playing the sports but can also hold the coin and benefit from its appreciation in value. In other words, users of the DFScoin stand to gain much more as compared to the current credit card and other payment solutions on offer.
To be able to use DFScoin to play daily fantasy sports, users will be required to download the DFSCoin Wallet from our website, http://dfscoins.com/. Currently we have both Windows and Linux wallets and we will be developing and adding Mac and Android wallets in due course. Once you have the wallet you will be able to purchase the DFScoins from multiple exchanges including YoBit, Cryptopia, Bittrex and others within 5 to 10 days from the finish on the ICO. Once the wallet is loaded then you can use DFSCoin to play on DraftDaily.com and FanLucci.com starting this NFL season long with other DFS sites who have partnered with us. To withdraw winnings you can exchange your DFScoins for preferred fiat currency on the listed exchanges as well as trade them with peers on the DFScoin blockchain.
