As recently reported in the Wall Street Journal, Walt Disney Co., the parent company of ESPN, has agreed to invest $250 million in the fantasy sports company DraftKings Inc.
DraftKings and its competitor, FanDuel Inc., are part of a growing niche of Internet-based daily fantasy sports businesses that allow players to play for immediate cash payouts based on, as the moniker suggests, daily competitions in which participants compete against other players and/or the “house.”
The Disney investment speaks …