Singlepoint, Inc. (OTC: SING), a leading mobile technology and payments provider, is making its mark in the daily fantasy sports (DFS) industry, just months after officially entering the market with minority acquisitions in two major DFS companies: GoDraft and DraftFury. One of the fastest growing industries at the moment, the DFS market brings together millions of people spending an average of $550+ every year, with 39% of them using a mobile device to pay, according to Fantasy Sports Trade Association (FSTA) statistics.
The minority acquisitions, in particular the participation in DraftFury, will allow Singlepoint to capitalize on this fast-growing market, especially at the height of the NFL season. Singlepoint is currently the only publicly traded company in the U.S. that allows shareholders to be involved in DFS, and it is planning to take a noticeable stake in the industry, according to company CEO Greg Lambrecht. Even a small stake could be game changing, given that the daily fantasy games industry is expected to grow at a rate of roughly 41% per year, reaching $14.4 billion in entry fees alone by 2020. For reference, entry fees were about $2.6 billion last year.
According to FSTA data for 2015 (http://dtn.fm/dda0A), about 20% of the U.S. population and about 17% of the Canadian population over 12 years of age play daily fantasy sports, totaling 57.4 million people. For comparison, there were roughly 15 million players in 2003. Of these 57.4 million, 66% are male and 34% are female, with an average age of 38.6. Also, the FSTA found that daily fantasy sports players are overall better educated, as 66% of them have a college degree or more. Most of them have a household income of more than $75,000, while 67% have full-time employment.
The average spending per fantasy player of 18+ years of age is $556, money spent on league-related costs and materials and single-player challenge games. Statistics also show that a total of 70% of daily fantasy sports participants pay league fees, and the most popular fantasy sport remains football. Additionally, a growing number of players now use some sort of mobile device to play – 39%, compared to only 25% in 2012. Players use their mobile devices for activities such as checking the score of their games or of other games in their league, drafting a team and/or changing line-ups, joining a fantasy sports league, researching players, posting comments, and viewing or listening to fantasy sports media ranging from podcasts and radio shows to TV or online videos.
With its minority investments in GoDraft and DraftFury, and with other planned acquisitions in the DFS vertical in the future, Singlepoint could be primed to become a significant player on the market. Founded in 2006, the company is currently a leading provider of mobile technology, mobile marketing and mobile payment services. Its products target small to mid-sized enterprises by offering solutions that allow clients to conduct business transactions, engage in targeted mobile communication or accept donations.
For more information, visit the company’s website at www.Singlepoint.com
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