Players will be able to enter specific games they are interested in, rather than every game across the season. They will also be able to select multiple line-ups, rather than just one.
There will be a salary cap, very similar to the English Premier League’s Fantasy Football game, which has proven popular in the UK.
Paddy Power’s customers will have the opportunity to win up to £3.5m ($4.3m) with two headline contests being promoted for the opening weekend of the NFL.
Customers can access Paddy Power Fantasy online and through the operator’s app.
A spokesperson for Paddy Power said: “We believe there is a real appetite for a fantasy-based product that offers rewards each week, while reducing the burden of regularly updating a team.
“While the NFL market will be the most popular to begin with, we think this will shift toward other sports, including football, through a mixture of cross-selling and product marketing.”