The daily fantasy landscape is changing once again as DraftKings acquires DraftStreet.
After a week filled with rumor and speculation it’s become official, as DraftKings acquires DraftStreet in a blockbuster deal that will see the two companies combine player bases at DraftKings. The sites were positioned as number two and three in the industry respectively. For everyone trying to catch up on the latest details, I have written these cliff notes to help shed light on the acquisition.
Player accounts will be merged from DraftStreet to DraftKings seamlessly say representatives of DraftKings. To ease the transition, DraftKings is offering multiple deposit incentives for players both with and without DraftKings accounts.
In addition, any tickets won for future events will be credited into player accounts as DraftKings cash.
DraftKings has also reached a resolution for ticket holders of DraftStreet’s end of season fantasy baseball event, the DraftStreet Fantasy Baseball Championship. Players can either cash their ticket out for full face value, or swap it for a seat in the DraftKings end of season fantasy baseball event, which is a live championship at the Atlantis resort.
Note: Due to conflicting reports, I have reached out to DraftKings CEO Jason Robins to find out if players can swap tickets for the end of season events.
The live Atlantis event touts a purse of $3,300,000 while the DraftStreet online only event offered just $2,000,000 in prizes.
Listen to Jason Robins, CEO of DraftKings talk about handling DraftStreet Fantasy Baseball Championship tickets below.
An aspect sure to affect the bottom line of many within the industry is the loss of their affiliate accounts with DraftStreet. DraftStreet was home to many high-volume players, and it will certainly take its toll on those who were previously receiving monthly affiliate payments.
Existing affiliate accounts with DraftKings will continue to be honored, as will new sign-ups to DraftKings. This means affiliates who had sign-ups through DraftStreet, can still attempt to sign-up those players without existing DraftKings accounts under their affiliate links.
A short-term deal is in place for existing DraftStreet employees to continue working with DraftKings to help with improving their product and easing transitional pains. No word on whether these employees will be offered long-term positions with the company, but there does appear to be controversy surrounding the manner in which they were retained. Details on the short-term deal and possible controversy can be found in this article from Darren Heitner of Forbes.com.
DraftStreet was home to a unique and loyal fanbase who enjoyed their specific offerings and style of gameplay. A representative from DraftKings hinted that possible integration of the two gameplay experiences may happen in the future, but that nothing is planned as of now.
DraftKings and DraftStreet sit at opposite ends of the spectrum in terms of player pricing for their salary cap games. This has fueled speculation by some that many DraftStreet veterans will be uncomfortable going from the $100,000 salary cap to DraftKings hallmark $50,000 cap.
When asked about the popular pick’em style and live draft contests offered by DraftStreet, DraftKings representatives hinted that they may consider implementing them in the future. No timetable has been given. Pick’em games and live drafts have long been fan favorites at DraftStreet, and the overwhelming sentiment expressed by former DraftStreet players has been disappointment that these contests will no longer be offered.
Where to Play Now
Players looking to continue playing pick’em style contests and live drafts can do so at many sites. However, DraftDay offers a wide variety of contests scattered across every major sport, including pick’em games and live drafts. They also offer a $100,000 dollar salary cap, which may help ease the transition for those players looking to continue their daily fantasy play on a site more closely resembling DraftStreet’s salary cap.
DraftDay is also offering a $125 Pick’em Freeroll this Friday night! Players undecided on where to continue their daily fantasy play will have an opportunity to sample DraftDay’s offerings for free, and may even win some money in the process! There are also $1 and $5.50 pick’em tournaments for each major sport whenever contests are offered.