Yahoo Inc. seeks to boost its brand by joining fantasy sports betting, one of thesuccessful industries. This came because of its stagnant advertising revenue.

This week, the Silicon Valley giant made announcement of launching a betting service that could introduce over ten million people to legalize online sports gambling called Yahoo Sports Daily Fantasy.

Yahoo Sports Daily Fantasy is available through a mobile app. It enables users to compete either in groups or individually by placing bets on the performance of a professional athlete.

According to Eilers Research in Anaheim, the service is estimated to make $1.4 billion by 2020, with the industry for wagers growing at the rate of 41% every year. As such, this year, the service will generate around $2.6 billion in entry fee.

As said by Fantasy Sports Trade Assn, 56.8 million will be the total number of people playing fantasy sports this year.

With sites like FanDuel and Draftkings on the lead, fantasy betting has thrived since the Government passed the unlawful Gambling Enforcement Act in 2006.

The Vice president of Yahoo, Ken Fuchs said, “The move will allow Calif to expand its existence on mobile devices and create a base of steady transactional revenues by taking 19% of each wager.”

Yahoo is planning to start expanding its presence with football and baseball then later move to hockey and basketball, hoping to go international one day.

On the contrary, the managing director for Eilers Research, Adam Krejcik is disappointed that Yahoo Daily Sports Fantasy‘s platform is almost similar to its competitors FanDuel and Draftkings. Instead, Yahoo should have invested at least $100 million this year to make casual users of fantasy sports have shareable experience on social media.

On Thursday,Krejcik wrote to clients, “As much as Yahoo has the necessary resources to spend, it is uncertain to us whether the management is willing to commit to such amount of cash.”

Fuchs declined and went ahead to explain how the company was going to invest this year.