American newspaper enters online betting service

Legal online service launched by Philly.com.

The online unit of the Inquirer and its sister publication, the Philadelphia Daily News, has named the service Instant Fantasy Games. The US newspaper is the first in the media industry to enter the world of online betting, according to a report in Editor & Publisher, a newspaper trade journal.

The Philadelphia newspaper has partnered with British wagering company Fanduel to launch the service. It enables wagerers to pick groups of players from professional baseball, hockey, or basketball leagues and is similar to fantasy leagues from sites such as yahoo and ESPN. Philly.com will conduct Instant Fantasy games everyday where players pay $5 to $50 a game, with the chance to win as much as $90.

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