DraftMix is an online platform allowing fantasy sports enthusiasts to play pickup games against other players for real and virtual money.
Business Model:
Revenue: $0
Employees: 1-10
Address:
City: Campbell
State: California
Zip:
Country: United States
On DraftMix fantasy sports fans can sign up and play pickup games against other players on the site for virtual dollars or for real money . Open games are listed in a lobby, where players can sign up in groups ranging from 4 to 10 players each paying into a prize pool. DraftMix also ponies up a nightly cash prize for a free game as well. When a game is full, players pick their teams from active profession players. Each fantasy manager&s;s team is scored on their players stats in the upcoming "real world" games. Since stats are needed to find the winning team, the time it takes to finish a game varies by sport. Football fantasy games are finished weekly, since all the teams play each Sunday. Basketball can finish a bit faster since teams play daily. The manager with the most points wins the money pot, with 10% of real cash games going to DraftMix. Now all this may sound fine playing fantasy sports for fantasy dollars, but doesn&s;t bringing real money into play amount to internet gambling? No, says co-founder Matt Maroon, who points the the fantasy sports exemption in the [Internet Gambling Prohibition and Enforcement Act](http://www.govtrack.us/congress/billtext.xpd?bill=h109-4411). The act, which was a big blow to sites like PartyPoker, specifically exempts "participation in any fantasy or simulation sports game or educational game or contest". Fantasy sports is seen as a game of skill and played for a fixed cash prize. Although a quick perusal of the exemption leaves feeling they&s;re at least bending the rules. Also in the realm of fantasy sport startups are [Screaming Sports](http://www.crunchbase.com/organization/screamingsports) and [Fleaflicker](http://www.crunchbase.com/organization/fleaflicker).
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Announced Date | Company | Transaction | Money Raised |
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Announced Date | Transaction | Number of Investors | Money Raised | Lead Investors | 6/2007 | Seed Round | 1 | - |
Y Combinator Y Combinator |
6/2007 | Seed Round | 1 | - |
Y Combinator Y Combinator |
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