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Yahoo wants you to gamble on fantasy sports

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You already use Yahoo Sports to track your fantasy leagues, meticulously crafting winning line-ups each week for the sheer thrill of bragging rights--but what if you want to make it, well, interesting? Now you can: Yahoo just updated its fantasy sports app with daily, real-money tournaments.

Getting started is pretty simple: Yahoo Fantasy users can add up to $600 per day to participate in curated public contests, or private tournaments with their friends. The app uses a simplified salary limit ($200 budget per tournament), with winnings paid out at the end of each day via PayPal. Not confident enough in your draft to put cash on it? Don't worry--Yahoo will also host several free tournaments each day for folks just want to play for fun.

The Yahoo Fantasy update comes at just the right time for the company: advertising revenue at Yahoo has been in a steady decline in recent months--gambling could be just what the firm needs to keep the books balanced. Online fantasy gambling is a fast growing market (remember that $250 million Disney poured into DraftKings?)--and with Yahoo poised to pocket 10-percent of all player entry fees, Daily Sports looks like a solid bet.

Engadget’s parent company, Verizon, now owns Yahoo. Engadget remains editorially independent.

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