Company Overview

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Founded:
June 1, 2007
Founders:
Chad Remesch
Employees:
3
Headquarters:
Campbell, CA
Funding:
$0.00
Categories:
Venture Capital, Fantasy Sports, Sports
Description:
DraftMix is an online platform allowing fantasy sports enthusiasts to play pickup games against other players for real and virtual money.

Detailed Description

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On DraftMix fantasy sports fans can sign up and play pickup games against other players on the site for virtual dollars or for real money . Open games are listed in a lobby, where players can sign up in groups ranging from 4 to 10 players each paying into a prize pool. DraftMix also ponies up a nightly cash prize for a free game as well.

When a game is full, players pick their teams from active profession players. Each fantasy manager's team is scored on their players stats in the upcoming "real world" games. Since stats are needed to find the winning team, the time it takes to finish a game varies by sport. Football fantasy games are finished weekly, since all the teams play each Sunday. Basketball can finish a bit faster since teams play daily. The manager with the most points wins the money pot, with 10% of real cash games going to DraftMix.

Now all this may sound fine playing fantasy sports for fantasy dollars, but doesn't bringing real money into play amount to internet gambling? No, says co-founder Matt Maroon, who points the the fantasy sports exemption in the Internet Gambling Prohibition and Enforcement Act. The act, which was a big blow to sites like PartyPoker, specifically exempts "participation in any fantasy or simulation sports game or educational game or contest". Fantasy sports is seen as a game of skill and played for a fixed cash prize. Although a quick perusal of the exemption leaves feeling they're at least bending the rules.

Also in the realm of fantasy sport startups are Screaming Sports and Fleaflicker.

Current Team (4)

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Past Team (1)

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Funding Rounds (1) - $0.00

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Products (1)

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  • Cb default image

    DraftMix

    DraftMix allows fantasy sports enthusiasts to play often, giving them the chance to draft a new...

Investors (1)

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  • 53204721d16c944526ae033cd8cb17c2

    Y Combinator

    Y Combinator is a seed accelerator that provides financing services and business consulting to...

Offices/Locations (1)

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  • Office

    Campbell, CA

    USA

Competitors (1)

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  • 9079411fa476d8f1265a4a4f956eb6fd

    Screaming Sports

    Screaming Sports offers a social networking service designed specifically for fantasy sports...