SAN FRANCISCO — Yahoo is placing a big bet on sports fans as a source of future profits.
The company announced Wednesday that it would begin hosting daily and one-week fantasy sports games, entering a fast-growing market that could bring it hundreds of millions of dollars in new revenue. The site was active immediately on Wednesday.
Playing fantasy sports is one of the most popular pastimes for Internet users, with an estimated 57 million people in the United States and Canada participating this year, according to research conducted by Ipsos for the Fantasy Sports Trade Association.