FanDuel to accept bitcoin deposits via BitPay

Bitcoin • September 3, 2019, 5:25PM EDT
The Block

FanDuel, the sports-betting technology giant, will start supporting bitcoin deposits, according to a BitPay press release. FanDuel users can now make bitcoin deposits to their accounts via a computer or mobile device to bet on FanDuel games. This is not FanDuel's first foray into bitcoin. In 2018, the firm announced a fantasy football contest which rewarded winners with bitcoins.

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“NFL Football is one of the most popular sporting events to watch and the start of the football season makes it a perfect time to introduce Bitcoin to these fans,” said Sonny Singh, BitPay’s Chief Commercial Officer. “We wanted to have the option in place for Bitcoin users to deposit cryptocurrency into their FanDuel accounts and take advantage of the daily fantasy sports games.”

FanDuel was acquired by UK- and Ireland-based sports-betting giant Paddy Power Betfair in 2018. At that time, the firm was generating $10 million in annual revenue.

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Steven Zheng is a researcher for The Block. He joined The Block in August 2018. Steven graduated from St. John’s University with a degree in economics. Previously, he covered blockchain and crypto at Radicle, a startup analytics firm. He also had brief stints at Cheddar, a media startup, and Bowery Capital, a venture capital firm. He owns bitcoin. Follow Steven on Twitter at: @Dogetoshi

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