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PlayON Become Official Partner of Formula1
Daily fantasy sports operator PlayON continue to make big waves, both in Australia and internationally, with news overnight that PlayON have partnered with Formula1 to become the official DFS provider for the sport. PlayON have also revealed their intentions to join the US daily fantasy sports market.
Currently PlayON operate in Europe and Australia, but with US legislation starting to finalise the groundwork for DFS in some states, PlayON are ready to tackle the market this year.
Fantasy Formula1 is a very niche market but it’s an exciting proposition for DFS players, and the global reach and enormous following that F1 brings, the partnership is set to provide great exposure for the PlayON brand.
As part of the deal, Formula1 have bought into PlayON with a partial ownership position based on a valuation of £30 million. It marks the first time F1 has taken an equity stake in an external company.
The partnership will also see Formula 1 races streamed live through the PlayON interface, so players will be able to build their fantasy teams and then watch all the action unfold live in the same location.
Fantasy Formula1 is already live in the PlayON lobby under the “MS” (Motorsport) tab with the next event coming up on April 28th for the Azerbaijan Grand Prix. To play, you’ll have to pick a team of five drivers and one constructor for the race, working within a typical DFS salary. Your team will earn points for finishing positions, positions gained and fastest lap among others. Daily contests for the Azerbaijan Grand Prix will have as much as $2,000 guaranteed while the Abu Dhabi Grand Prix in November will promise a $20,000 prize pool guarantee.
For more information about PlayON, check out our PlayON review page.