PlayUp, an Australian daily fantasy sports (DFS) site is seeking $10 million in funding so it can expand its unique model of a site that relies solely on advertising for its revenues.
Players can play for free and can win “prize money” redeemable at an online store. They can purchase products from Play Up’s commercial partners, which include Rebel Sport, BCF and others.
And there WILL be players. Currently 100,000 have signed up, which exceeds initial expectations. Moreover, the players are returning, drawn by the competition and prizes, according to founder Daniel Simic.
DFS allows players to “bet” on teams or players and earn points at the end of the day. In many ways, it mimics legal online sports betting. So much so that many jurisdictions are fighting it, claiming that it is actually gambling.
PlayUp is different. The most obvious difference being that players don’t actually “bet” any of their own funds. It currently offers contests in NRL, AFL and international cricket. Simic wants to add NBA, A-League, EPL, T20 cricket, Kabaddi and eSports.
Simic told Online Casino: “Millions of new daily fantasy sports players have come into the market in just the past few years alone. By making it more accessible and offering the opportunity to win real prizes, without any entry fees, we hope to take fantasy sports to the next level in Australia and around the world.”