New York Life Insurance, a Fortune 100 company, has reportedly blocked access to fantasy football teams on Yahoo for its employees.
According to job portal website Ladders, the employees at the NY Life insurance were not able to access fantasy football teams on Yahoo, instead, a message awaited them which read: “Sorry, you don’t have permission to visit this site. Not allowed to browse the Gambling category.”
According to The Fantasy Sports & Gaming Association about 59.3 million Americans participate in fantasy sports each year. Moreover, it says that there are almost 7.6 million fantasy football players employed in the U.S.
Fox Business reports on behalf of staffing company Challenger, Gray & Christmas that on average participants spend 30 minutes a day on fantasy, and employers lose $212.3 million every week due to lost production. Over the entire season, including the preseason, the firm says fantasy football costs employers more than $9 billion a year.
“While the cost to employers seems high, it likely will not affect any individual company’s bottom line,” Challenger said, adding that it “can be a boost to a company’s bottom line in terms of higher morale and lower turnover.”