Source: DraftKings
The House of Mouse is setting out to conquer yet another highly-lucrative space: Fantasy sports, The Wall Street Journal reported Friday.
Walt Disney is making a $250-million bet on DraftKings, a Boston-based fantasy sports start-up that lets users play with real money at stake on a per-game basis, the report said.
related investing news
In return for the investment, DraftKings has agreed to spend more than $500 million on advertising with ESPN, Disney's 24-hour sports network, the report added.
Disney's investment would raise DraftKing's value to about $900 million, according to the report.
Read More Disney plans 'Star Wars,' 'Frozen' sequels
DraftKings did not immediately responded to CNBC's request for comment, while ESPN declined to comment.