Phil Ivey is a man who wears a number of business hats away from the poker table and his latest venture has taken him into the world of Daily Fantasy Sports (DFS).
Ivey may have made his name and his fortune as a poker player, but in between his exploits at the felt he’s always been a fan of all forms of gambling.
Whether it’s casino games (including punto banco which famously landed him in hot water with two major casinos) or sports betting, Ivey has always enjoyed battling the odds in an attempt to come out on top.
Another Business Move for Ivey
In fact, such is his willingness to roll the dice and take a chance, that’s he’s also launched a number of business ventures over the last few years.
Although some haven’t been as successful as he’d have hoped, Ivey has put his name to a number of products and services, including an online poker training site (Ivey League) and a sports management company that sponsored the likes of up and coming boxer, Dusty Hernandez-Harrison.
With a background in gambling and business, it seems only natural that Ivey would eventually find his way into the DFS industry and that’s what emerged this week when he announced the launch of PhilIveyDFS.
Set to go live in February, Ivey’s DFS site will be a part of the iTEAM Network and offer an online platform for DFS players.
According to the CEO of the iTEAM Network, Gabe Hunterton, the addition of Ivey-branded site to the network is part of an aggressive expansion plan in 2016.
For Ivey the deal will be another way for him to monetize his reputation in the iGaming world.
“Over the past few years, I’ve been looking for more ways to share with fans my perspective on daily fantasy sports. I was honored to have multiple options, but iTEAM Network’s focus on compliance and the core technology, along with the leadership of Gabe Hunterton, ultimately made it a pretty easy decision,” said Ivey.
Influential Figures Backing DFS
Although DFS operators are currently experiencing a rough time in the US, a number of high profile figures are now showing their public support for the industry.
Speaking at the Fantasy Sports Trade Association, just one day after Texas Attorney General Ken Paxton concluded DFS was illegal, Mark Cuban reiterated that DFS is a game of skill and turned Paxton’s stock market analogy against him.
“Why is the stock market acting like it is? Nobody knows. Where should you invest your money in the stock market? I have talked to some of the smartest people and nobody knows. That sounds like a game of chance to me,” quipped Cuban.
Regardless of the current legal and political wrangling, Ivey is willing to roll the DFS dice and will find out if it was a bet worth making as 2016 plays out.