Yahoo (YHOO) has announced that it will be holding daily fantasy sports events.
Yahoo’s daily fantasy sports contests will be playable via its desktop website, a mobile website and an app for Apple’s (AAPL) iPhone. The company is going to start the events out with games that are free to enter and have $6,500 in cash prizes, reports The New York Times.
Following the launch of its daily fantasy sports games, Yahoo will only be allowing those living in the United States to play. The first games will be for Major League Baseball, but more sports will be added as their seasons start. The company will keep 10% of entry fees that players pay and could also sells ads for the events, The New York Times notes.
Yahoo has already offered fantasy sports games that lets players build their teams for a season. With the new daily games, these players can use their already built teams to compete, which removes the hassle of building a new team every day, reports Recode.
YHOO shares were up 2% as of Noon Thursday.
