Silicon Valley stalwart Yahoo [s:yhoo] is moving into daily fantasy sports, a growing field that gives consumers the nearest thing to online sports gambling most states allow. Yahoo, which is a popular destination for season-long fantasy sports, will take a 10 percent cut of the money that players put in to wager that their lineup of players will perform better than competitors’ in that night’s action. Yahoo Sports Daily Fantasy — which will compete with startups like DraftKings and FanDuel — will begin with Major League Baseball games, and plans to offer NFL action as well. Yahoo cited a study in its news release that said 56 million people in the U.S. and Canada played daily fantasy sports in 2014, up 40 percent from the year before. The games will be available in 45 states that allow daily fantasy sports.
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From:: Stock Market News