Cuban invests in Fantasy Labs inc.

Mark Cuban has invested in daily fantasy sports start-up Fantasy Labs inc.

The company was founded in 2015 by Peter Jennings and Jonathan Bales. They are both professional DFS players and DraftKings analysts. Jennings was the winner of DraftKings first $1 million (£703,000) tournament, whilst Bales has won hundreds of thousands in DFS winnings.

Bales said of Cuban’s investment: “Mr. Cuban’s belief in the future of daily fantasy sports, and its ability to positively enhance the viewing experience for fans, make this an ideal partnership for Fantasy Labs.”

He continued: “This new funding will allow us to enhance our product offerings to create the best possible experience for our customers and the rapidly growing population of fantasy sports players.”

Fantasy Labs offers DFS players the data and analytic tools to allow them to test theories, create models, optimize profitable lineups, and compete at a high level within tournaments and contests.

Mark Cuban is the owner of the Dallas Mavericks and is well renowned for large investments, having also invested in esports platform Unikrn. He has repeatedly stated his belief in the business potential of DFS sites.

Cuban said of the announcement: “The explosive growth of fantasy sports, and its involvement with new categories of competition like eSports, increase the need for high-end resources like the platform offered by Fantasy Labs.”

He added: “I’m excited to be involved with a company that is working to advance an industry that is poised for huge growth.”