Disney is reportedly investing $250 million in DraftKings Inc., a Boston-based online fantasy sports startup. DraftKings enables fans to play fantasy sports on a per-game basis with real money. As part of the deal, DraftKings has committed to spending more than $500 million in future advertising on ESPN’s platforms. While sports fans have enjoyed a variety of options for fantasy leagues from CBS, ESPN, Yahoo and others, the model involved tracking performances across an entire season — and did not involve playing for cash payouts. Continue reading DraftKings: Disney Investing in Online Fantasy Sports Business

San Francisco-based startup Skillz has raised $6 million in equity funding and venture debt to bring cash stakes to mobile games. With this type of functionality, players usually put in an ante of 60 cents with the hopes of winning a $1 prize. Skillz currently shells out $10,000 per day in cash rewards across 175 games running on its platform. The game developers are also making more revenue with cash tournaments than they are through traditional advertising. Continue reading Skillz Has Plans to Expand Play-for-Cash into Mobile Gaming