It looks like drone racing might just be the next big thing in spectator sport. This came after real estate mogul and Miami Dolphins owner Stephen Ross recently invested $1 million on the New York-based startup The Drone Racing League, which plans to hold its first race this year.

"The Drone Racing League venture hopes to re-create the success of live videogame competitions, which lately have been packing arenas like Madison Square Garden," according to the Wall Street Journal.

The attraction is not really surprising if one examines how drone racing is done. In drone racing, participants wear goggles, which are patched to the front-facing camera of the flying device. This allows the wearer to watch the scene unfold as the drone zips through the air.

"When I fly full-sized aircraft I see things and think, 'oh it would be so fun to dive in between that,' but I can't because it's my life at stake and you've got to take it a bit more seriously. With these thing I can now do that. And if I get it wrong, worst case, I break a frame and I have to build a new one," Chad Nowak, a drone racing enthusiast, told Gizmag. Some of the drones are capable of speeds up to 100 mph.

Like other racing sports, drone racing also has a race course (see video below), which is usually located in a large open warehouse outfitted with barriers such as red tape and pylons. As participants race their machines, spectators can monitor the excitement through a huge display or they can also bring their own goggles, which allows them to tune into the channel of participating players.

Ross' involvement through his investment is expected to not only add more cash to drive drone racing development, but he has also been drawing attention to the new sport. This is particularly important since The Drone Racing League sees ticket sales, sponsorship and media tie-ups as main sources of its future revenue, according to The Verge.