Dallas Mavericks owner Mark Cuban is known for being one of the biggest investors in the world and he is also known for being outspoken and controversial. Cuban reminded us of that on Wednesday as it was announced that he had invested in a daily fantasy sports startup company.
It’s no surprise that Cuban has made his way into one of the most popular things going when it comes to fantasy sports today. He talked with Business Insider, who initially reported the news of Cuban investing in Fantasy Labs Inc.
“The explosive growth of fantasy sports, and its involvement with new categories of competition like eSports, increase the need for high-end resources like the platform offered by Fantasy Labs,” Cuban said. “I’m excited to be involved with a company that is working to advance an industry that is poised for huge growth.”
Fantasy Labs was founded by Peter Jennings and Jonathan Bales in 2015. Both of these men have seen their fair share of success in DFS leagues like DraftKings and FanDuel, winning more than $2 million combined.
“Mr. Cuban’s belief in the future of daily fantasy sports, and its ability to positively enhance the viewing experience for fans, make this an ideal partnership for Fantasy Labs,” Bales said. “This new funding will allow us to enhance our product offerings to create the best possible experience for our customers and the rapidly growing population of fantasy sports players.”
FanDuel and DraftKings have been in a heap of legal trouble the last few months and it has led to the games being declared illegal gambling in a handful of states, most notably in New York.
Cuban knows exactly what he is doing and if he didn’t think this could be successful, then he wouldn’t have invested. It should be interesting to see where this company goes from here.
*Featured Photo (above) credit to USA TODAY Sports