Boom Fantasy has acquired the assets of DFS site DraftPot and will allow players to either withdraw balances or play on Boom Fantasy.
DraftPot announced today that Boom Fantasy had acquired the DFS site’s “substantial assets” as part of a recent $2 million dollar funding round. Players received world about the acquisition via email and through the DraftPot website.
“First and foremost, we would like to thank you, our players, for your trust and loyalty. Draftpot was started out of a college dorm room and grew to become a notable brand in the daily fantasy sports industry,” read the email from DraftPot.
What the Changes Mean for Players
During the NFL season last year, DraftPot had a drastically lowered selection of contests and prize pools, after featuring some impressively large contests the prior year. After the football season, contests at the site essentially dried up. There were also some reports of slow withdrawals.
With the acquisition by Boom Fantasy, players will be able to access their funds from their DraftPot account.
According to the statement, Boom Fantasy have also set up an account for users on the Boom Fantasy website, where players will be able to have their withdrawal requests processed through the Boom platform. To accommodate the DraftPot players, the minimum withdrawal requirements have been lowered to allow DraftPot players to withdraw any funds they may have. Boom Fantasy claims to have one of the fastest withdrawal times in the industry.
Players can use the same log-in credentials to log in to Boom Fantasy. To entice players to try the site, the DFS site will be giving a 100% up to $1,000 sign-up bonus for former players of DraftPot. Players will also receive $10 instant cash for those who deposit at least $100.
Any customer service requests that DraftPot players have will be received by Boom Fantasy customer support.
Boom Fantasy is also sending an email to players explaining why former DraftPot players should consider migrating over to Boom Fantasy.
Who is Boom Fantasy?
Boom Fantasy, which launched in 2017, was named by EGR as “2017 app of the year.” Although not nearly the size of DraftKings or FanDuel, Boom Fantasy aims to offer players a different kind of daily fantasy sports site. CEO Stephen A. Miller says that DraftKings and FanDuel have failed in a key area. “Boom Fantasy was founded on a simple premise — that FanDuel and DraftKings just weren’t all that fun.”
While the lobby will look familiar to seasoned DFS players, lineups are constructed in a drastically different way. Instead of drafting players within a salary cap like traditional DFS sites, users of the site are asked a series of questions to create their lineups, as seen below:
The player with the most points at the end of the contest will win their share of the prize pool. Contests are held for heads-up, double ups and satellites. Multi-entry contests are also available. Boom Fantasy offers contests for NBA, MLB, NHL, PGA and of course, NFL when in season.
Entrance fees for the contests range from $1 up to $5,300 with most running contests below $20. Boom Fantasy is featuring guaranteed contests of between $5k-$100k during the NBA Finals for the next week.