Daily fantasy sports have become the new version of online poker, but it’s becoming increasingly regulated. At one time, the owners of these daily fantasy companies thought they were going to be able to operate unimpeded in the United States market, but it turns out that most states are of the opinion that these games DO qualify as gambling and should be regulated as such. Here are some tips for how to win at fantasy sports.
1. Understand why this is a game of skill, not chance
You’re choosing players based on how well you expect them to perform. If you do a better job of this than your opponents, you’ll win in the long run.
2. Follow your favorite sports well enough to be an expert
In order to get an edge, you have to know more about the game than your opponent.
3. Don’t bet on your favorite players or teams
This is the biggest mistake that most sports fans make when they’re betting sports. It’s an easy mistake to make in fantasy sports, too.
4. Use a different strategy for cash games than you do tournaments
Cash games are ones where you’re competing against a single opponent or you’re trying to land in the top 50% of the field. These games offer an almost even money payout, and your goal with such games is to have a high score with low volatility. Tournaments, on the other hand, offer fewer but larger prizes depending on how you place. You want to embrace volatile players in order to win, because you’re going to need a bigger score in order to get in the money.
5. Check the laws where you live before signing up
Not all states allow daily fantasy sports, although season long contests seem to be legal everywhere.
6. Read, read, and then, read some more
An educated fantasy sports player is a winning fantasy sports player. There are hundreds, probably thousands, of sites which offer information that can help you win. Your goal should be to read almost all of it.
7. Don’t play with money you can’t afford to lose
This is a fundamental rule of gambling, but for some reason, fantasy sports players seem to be more likely than most to risk money they can’t afford. Sports bettors often have the same problem.
8. Have a sufficient bankroll
You need enough buy-ins to avoid going broke if you have a bad week. This means having a large enough bankroll to enter dozens of contests at once. Don’t put all your bankroll into a single contest unless you’re comfortable with going broke.
9. Understand how the rake works and be good enough to beat it
Contest fees at this site are divided into a rake and the amount that goes toward paying your prize money. For example, if you pay $11 to get into a contest, a dollar goes to the house as rake. The other $10 becomes part of the prize pool. You have to win a correspondingly higher percentage of contests in order to make a profit.
10. Stick with the sports you understand
Fantasy sports aren’t too different from regular sports betting, so if you want to win consistently, you need to stick with the sports you know something about. It’s a game of skill, remember?