Former Florida Governor Jeb Bush is now finding his luck in the daily fantasy sports (DFS) industry after his dreams of becoming the next U.S. president – just like his brother and father – was crushed by no less than businessman Donald Trump during the Republican primary cycle.
Tampa Bay Times reported that Bush will act as a “strategic consultant” for the law firm Buchanan, Ingersoll & Rooney, and its clients. Among the clients of the law firm were fantasy sports giants DraftKings and FanDuel.
The firm, which is headquartered in Pittsburgh, Pennsylvania, is known for having a strong lobbying presence in Washington, D.C. Lobbyist tracker OpenSecrets claimed that Buchanan has lobbied on behalf of Turing Pharmaceuticals, formerly headed by Martin Shkreli, In 2015 and 2016.
“There are very few people that have the breadth of experience that Gov. Bush has, both in the public and private sector,” Buchanan CEO Joseph Dougherty said in a statement. “We believe his insight will be a tremendous asset to our attorneys and clients.”
In a statement provided by the firm, Bush said: “I believe that putting my knowledge and experience together with Buchanan’s professional acumen will help Buchanan’s clients grow and prosper.”
“We live in a complex business and political environment, and I believe that putting my knowledge and experience together with Buchanan’s professional acumen will help Buchanan’s clients grow and prosper,” he added.
It is an exciting time indeed for Bush, especially now that the amount of entry fees of DFS annually will reach $5.3 billion by 2020.
According to the latest study conduct by Juniper Research, consumer spend on DFS will reach $5.3 billion by 2021, up from $2.6 billion this year, as key players seek to develop new markets including the UK, Australia and Latin America.
North American remains the DFS leader, with US regulatory loopholes denoting the activity a ‘game of skill’, rather than gambling. Juniper, however, believes that West Europe will overtake North American market over the coming five years.
Current leaders DraftKings and FanDuel represent over 90% of the Daily Fantasy Sports market; and the recent merger between the two, will see them consolidate their position and dwarf closest rival Yahoo.
