Welcome to the exciting world of betting on fantasy sports. The information provided on this page will help you better understand the nuances of betting on fantasy sports. Hopefully, the tips offered in the last section will help you become a winner.
Fantasy Sports – Manage You Own Team for Cash
For generations, baseball and football enthusiasts have been plying their trade as fantasy sports managers. Unfortunately, fantasy sports leagues would run for months before a winner would be declared. In recent years, dedicated fantasy sports sites have allowed fantasy managers to compete against one another for prize money on a daily or weekly basis. It was a major step up from meeting for drafts in the company conference room where folks would draft their fantasy players and compete in a league for “the pool” of cash.
From dedicated fantasy sports sites to online sports books, fantasy sports enthusiasm is reaching new heights. The fantasy sports industry has risen from league formats to weekly and daily competitions where money is legally exchanging hands at an increasingly fast pace. Also, fantasy sports is no longer restricted to football and baseball. A new generation of fantasy sports managers can now participate in daily and weekly fantasy competitions on sports like golf, NASCAR (auto racing), basketball, soccer and any other sport where teams can be selected, and numbers tracked.
How to Bet on Fantasy Sports – Group Contests
As indicated above, fantasy sports battles are now waged over a day for sports like baseball and basketball or a week for pro football. The process of selecting a roster has also changed. In the past, managers would select players who would be immediately removed from the pool of available players. On fantasy and sports betting sites, managers now have access to all the same players with one caveat: they have to make their selections while staying within a prescribed budget.
Example: An online bookmaker is facilitating a fantasy contest that allows for 100 participants. The Entry fee is $10 per team (managers may be permitted up to 3 teams per contest). The prize money is usually distributed to approximately 25% of the field with the biggest portion going to the overall winner. Each manager is given a salary budget of say $50,000 to purchase players from the entire population of actual players expected to compete that day or week. For the rest of our example, we will focus on a daily Major League Baseball (MLB) contest.
With their $50,000 salary budget, each manager is expected to pick a specific number of players to fill a specific number of positions. Each MLB player has been assigned a salary based on their statistical output throughout the season or from prior seasons if the new MLB season have just gotten underway. In most cases, the fantasy manager would be required to select players to fill the following positions: 1B, 2B, 3B, SS, Of, Of, Of, C, SP, SP and one utility player. Each manager gets to select any player they want but cannot exceed the salary budget.
The selection process has to be completed and entry fee played 2 minutes prior to the start of the first scheduled game. As the actual players perform, fantasy managers earn points for the player’s performance. Points are rewarded based on a predetermined scoring platform. Once all scheduled daily games have been completed and the final scores (real time scoring) have been calculated, the winner and prize earners are identified and paid. Note: The bookmaker or dedicated fantasy sports provider earn their money by taking a cut from the pool. If the total pool consists of $1,000 (100 managers at $10 each), the house takes usually 10% and distributes the rest. Managers should avoid bookmakers that want a bigger cut. After all, they are getting paid only as facilitators with no vested interest in the outcome.
The entire process is the same for National Football League (NFL) or golf contests except each contest runs for an entire week from Tuesday through Monday Night Football for football and the four days of tournament play for golf.
It’s worth noting than some of the bigger contests could be offering more than cash prizes. The actual tournament could be a qualifier for a future bigger tournament with an exciting prize package that includes cash, assets and exciting trips to special events like the Super Bowl.
How to Bet on Fantasy Sports – Head–to–Head Competitions
A lot of managers like betting against a smaller group of managers. This is referred to as head-to-head competition. All the rules and scoring are the same and the outcomes are determined in the same manner. The only difference is the number of participants.
Each fantasy sports site or bookmaker maintains a list of available contests. Most of the head-to-head contests are being organized by fellow participants. In some cases, the contest developer has some leeway regarding how the contest is designed (ie: the amount of the entry fee, payouts, etc.). New participants can view the available contests and join the ones that fit their personal preferences.
Head-to-head competitions can include as few as 2 people and as many as 10. Anything more than 10 would generally be classified as a tournament competition. Again, the payouts represent 90% of the total pool. In 2-people matchups, it’s winner-takes-all.
Fantasy Sports Betting Tips
Successful fantasy sports mangers have one important attribute in common. They understand how to turn statistical information into cold, hard cash. Here’s some tips that might help you compete as a fantasy sports manager at the highest levels.
- Fantasy baseball – review stats on how batters perform against the pitcher they will be facing on the applicable day
- Fantasy football – Check weather reports and avoid players who might have to play under adverse conditions
- Fantasy baseball – Don’t get locked into paying too much for your starting pitchers. Seek out mid-level pitchers who have a favorable matchup and save your budget for better hitters.
- Fantasy baseball – Avoid batters who are scheduled to face a top 10 pitcher. They are top 10 pitchers for a reason.
- General – research your fantasy manager competition and avoid head-to-head matchups with managers who obviously invest a lot of time and money tracking statistics and winning contests. Stay with managers who have a similar manager profile to yours
As a rule of thumb, you should never bet more than 5% of your bankroll on a single contest. Above all, you never want to gamble with more than you can afford to lose. That means pay your bills, put some savings aside and have fun betting on tennis matches with whatever you might have remaining. Responsible gambling is the only way to truly enjoy the experience.