DFS

Backing Draft: What next for Paddy Power Betfair and its newly-acquired DFS operator?

Paddy Power Betfair entered the US daily fantasy market in May with the acquisition of start-up operator Draft for up to $48m. EGR Intel finds out how Draft caught the eye and what the deal means for both companies

In January 2016, Jeremy Levine, co-founder of Draft, had to sit his investors down and tell them there was a 50% chance the company wouldn’t make it in the real-money DFS world. Despite having raised $3.5m in Series A funding less than a year before, New York State Attorney General Eric Schneiderman had declared DFS to be a…

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