On Tuesday, Boom Fantasy completed a $4.5 million funding round. The company plans on using the funds to expand its development team, secure partnerships and develop new gameplay.
Boom Fantasy also launched a new game called Boom Streaks this month. Players of this game who answer eight questions correctly in a row can walk away with prizes roughly 10,000 times their initial buy-in. They also get the chance to cash out mid-game if they don’t want to risk going all the way.
STEPS CHECK
Boom users are climbing the pyramid to 10,000x on their investment!
If you want a head start, check the Streaks Marketplace and make your best offer
pic.twitter.com/UYPJkDoto5
— Boom Fantasy (@BoomDFS) June 19, 2018
The company differentiates itself from other daily fantasy games by asking questions about live events rather than challenging players with creating teams. But like others within the industry, Boom Fantasy may benefit greatly from the Supreme Court’s ruling on legalizing sports betting.
“Last month’s Supreme Court ruling was obviously welcome news for Boom Fantasy, as we had all the critical pieces in place to pursue this massive market,” said Boom Fantasy CEO, Stephen A. Murphy, in a statement. “We have a great core team, a rigorous and focused approach to developing entertaining and profitable gameplay, and a real-money gaming platform that is live in 35 U.S. states. Now, we have set our eyes squarely focused on the U.S. sports betting market with a resolve to create incredible, differentiated, and fun products for sports fans across the country.”
SportTechie Takeaway
The Supreme Court’s ruling almost immediately shifted the online fantasy sports landscape. Irish betting house Paddy Power Betfair bought up 61 percent of FanDuel, a DFS powerhouse, less than two weeks after the court’s decision. As states begin to legalize gambling, the entire sports betting—and sports—landscape in the U.S. could change significantly in the next few weeks, months, and years.