The Big Business of Fantasy Sports

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Dec. 6 (Bloomberg) -- Brian Schwartz, co-founder and CEO of DraftStreet, discusses the changing landscape of fantasy sports with Pimm Fox on Bloomberg Television's "Taking Stock." (Source: Bloomberg)

Notes.

His company recently purchased draftstreet.com.

Former on the popularity of fantasy leagues, i am joined by their chief executive, brian schwartz.

Thank you.

Before you came on, you do not expect to be running a company that is doing fantasy sports when you were at the university of wisconsin madison, were you?

Nope.

I knew that i would get into something digital, but fantasy sports was a dream i never thought would come true.

You had been playing since the age of 11? 11 or 12, i was picking up newspapers, checking the stats to see how my team was doing.

How does draftstreet.com work?

Instead of joining drafting a team for the whole season, and you draft a team for the week.

You draft a team of players from any nfl team that you want.

My team will compete against others for that one week.

I will dress a team for this sunday.

The end of the games on monday night, the league is over.

, the people have signed up for this?

We have over 350,000 registered users right now.

Equally divided among sports, baseball and football?

Football is the most popular, but we did a lot of action in baseball and basketball, and we also have college sports, which is a little lower.

Normally they will come into play football, but they see there is basketball and baseball and they will start playing those because they still enjoy it.

What is a cost to participate in the drafttstreet.com empire?

It is free every week.

That said, if you want to win a little money, you can wager money.

You can wager as much as $400 or as little as two dollars.

How do you deal with the loss of prescribed internet gambling and gaming online?

The federal government has classified fantasy sports as a game of skill, so it is completely legal to wager on fantasy sports.

By having that the station, you don't have to worry about the rules governing online gaming.

Correct, it is in the roles that we are exempt.

What is next for draftstreet.com?

Where were you be old and revenue?

-- where will you be building revenue?

There are over 30 million americans playing fantasy sports, so we think we can expand.

And we can expand to new sports.

We're planning on having soccer for the world cup next year.

Will you have to hire a lot more people who are more familiar with soccer?

Definitely, we want experts in every sport that we offer.

The leagues are based on how we price different players.

So you get a fair pricing of every player you want to draft, so we went to be experts at soccer as well.

How have you done on the website?

I only play against my coworkers and friends.

I don't want to brag, but i do pretty well.

Does barry diller play fantasy sports?

Not yet.

He sees the potential of the product, but i don't think he is a fantasy fan himself.

You said more than 350,000 registered users.

Do they all pay or some of them free?

Roughly 10%, 15% will play in the pay league.

Is there an average wager?

Each individual over their lifetime will wager somewhere around 3000, $4000. 3000, $4000? any specific target as far as

This text has been automatically generated. It may not be 100% accurate.

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