The virtual world has overtaken the physical one, and sports is the latest victim to it. The concept of picking players and running a contest based on their year-to-date stats has been around since shortly. Making money with online fantasy sports is the latest concept you would want to get into.
With DAILY FANTASY SPORTS, though, gamers can break out of their sleepy office pool and test their skill against as many as hundreds or thousands of other lineups in one hypercompetitive Fantasy free-for-all.
Balancing the madness of not missing out a single second of any match, fantasy football leagues have gathered enough popularity as well. This is a merger of virtuallity to realty.
As much as participants see fantasy sports league as a chance to actually be a part of the sport and stand a chance to win prizes in return, the organizers see it as a chance to make huge profits. This is all done through the entry fee pool. Just as $11 billion flow toward football, around $1.5 billion revenue is generated through fantasy football which is set to grow manifolds in the coming time
Daily fantasy sports contests are played across shorter periods of time, such as a single week of a season, rather than an full season. Daily fantasy games are typically played as “contests” subject to an entry fee.
Daily fantasy sports began to emerge in 2007 with the launch of Fantasy Sports Live.
In 2008, NBC launched SnapDraft; and FanDuel quickly became the prominent DAILY FANTASY SPORTS site shortly after it launched in 2009.
DAILY FANTASY SPORTS experienced a major increase in prominence in 2014 and 2015 with the dramatic growth of two competing services: Draft Kings and Fan Duel. Both received venture capital investments from various firms, including sports teams and broadcasters, and became known for running aggressive marketing campaigns with an emphasis on huge amounts of money.
DraftKings is a Boston, MA, daily fantasy sports contest provider. The company allows users to enter daily and weekly fantasy sports-related contests and win money based on individual player and team performances in five major American sports (MLB, the NHL, the NFL, the NBA and the PGA), Premier League and UEFA Champions League soccer, NASCAR auto racing, Canadian Football League, the Arena Football League, Mixed Martial Arts (MMA) and Tennis
FanDuel is a daily fantasy sports provider from the United States and bookmaker based in New York City. Originally founded in 2009, the service is the second largest DAILY FANTASY SPORTS service in the country (behind DraftKings) based on entry fees and user base.
How they make money
DraftKings and FanDuel, two of the most powerful heads in the industry, organize contests with a chance to win NFL sized payouts and charge a participation fee for the same. They take a cut in these cash-prize contests and that is how they earn most of their revenues. FanDuel takes nearly 10% cut and spends the rest for funding the prizes. Engaging the participants.
Other revenue sources: Advertising, sold tournament sponsorships, co-produced videos are another trending ways of making money through fantasy sports. CBS, Yahoo, Disney earn a huge amount of their earning through advertising.
How you can make money
We’re going to help you out by providing you with all the information you need to start your DFS career and provide you with the knowledge that will help you make money by playing fantasy sports.
- Lesser-known sites. If you’re just starting out, it might be best to start in the lower leagues. After all, that’s where you’re least likely to encounter more skilled players who would wipe the floor with anyone that’s new to the game. These lesser-known DFS websites also aren’t as expensive as others. Of course, since you’ll be paying less money to play, your winning amounts will also be lower. This trade-off is good since you’ll learn the ropes in a month or two, and you’ll earn a bit of money as well (while not losing too much of it).
- Creating and respecting a budget you set is more important than memorizing all the stats over a full season. Sure, stats will help you win more, but proper budgeting will help you earn more. Figure out how much money you want to spend on an overall season and then divide that money for each week
- You should spend more on cash games and less on tournaments, but ultimately, this is up to you. Cash games. The reason cash games are so effective at bringing in a profit is that they’re mostly 50/50 games. This means that you have to be better than half of the players/entrants. Everyone earns the same amount of cash, whether they’re the best or 49th.
- Intel. ‘Information is power’ – goes the old saying. You’ll want to learn as much as possible before you move on to stronger and more famous websitesnsely. The more you know, the better you’ll be able to construct your team, which in turn means that you’ll have much better chances at winning!