Tech company Yahoo is entering the realm of daily fantasy sports contests with a new product called Yahoo Sports Daily Fantasy.
The product lets users draft players and creating fantasy teams on a daily basis. Users win cash prizes based on how these teams fare.
Yahoo Inc. said Wednesday it has offered other fantasy sports products, including Full Season Fantasy, to users for 16 years.
The move pits it against two other daily fantasy sports offerings that have been growing quickly, Fanduel and Draftkings.
According to Yahoo, the number of fantasy sports players rose 40 percent to 56 million users in the US and Canada over the past year.
Last week, Yahoo said it is testing letting Google put its online search skills to work at some of its online properties.
The pioneering Silicon Valley Internet firm was looking at whether having a mix of players handling search results or search ad placement at its websites would benefit Yahoo and its users.
"As we work to create the absolute best experiences for Yahoo users, from time to time, we run small tests with a variety of partners including search providers," a Yahoo spokesperson said, noting that Google was among those search firms.
Microsoft and Yahoo updated their search partnership in April to allow more flexibility in searches and end Yahoo's exclusive sales force role with advertisers.
The search partnership between Microsoft and Yahoo took effect in 2010 and was supposed to last 10 years, but Yahoo had the option of exiting it midway if certain revenue conditions were not met. Yahoo's chief executive, Marissa Mayer, had repeatedly signalled that she was dissatisfied.
Written with agency inputs
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