How to Use Daily Fantasy Sports to Become a Better Sports BettorPublished November 24, 2022 by Shane
Fantasy sports and sports betting is similar but not the same. The question is, can one be used to better your skill in the other? In this article, we dive deeper into fantasy sports and explore how to improve your real-money betting game with DFS.
Compared to playing casino games, there is little argument from anyone that sports betting involves elements of skill, knowledge, experience, and understanding - not just luck.
A bettor can employ a range of strategies to defeat the other players in the outcome of a sports bet. The same can be said about the outcome of betting on a fantasy sports game but just on a much larger scale.
In fantasy sports, there is a reasonable skill of adding or dropping players, drafting players, lineup changes, trades, and injuries. These are all considered important factors to victory rather than the element of chance. So how can fantasy sports betting be used to become a better sports bettor? Let’s look at the possibilities.
What is Fantasy Betting?
It all started in 1962 when Bill Winkenbach, then part owner of the Oakland Raiders football team, gathered with some friends in a New York City hotel. It was here that they created the first fantasy football league, which was dubbed the GOPPPL (Greater Oakland Professional Pigskin Prognosticators League).
Today, fantasy sports are games often played using the internet. Participants play by assembling virtual or imaginary teams that are based on real players of a professional sport. These teams then compete based on the statistical performance of those players in the actual game.
Fantasy football may be a hobby for most, but it is also a legitimate way to make money. Players can win real cash by participating in online events and winning contests online. The outcome of your fantasy game is determined by how good your fantasy team is. The prize money can add up to a substantial prize pot throughout the season.
A Billion-Dollar Industry
According to the Global Fantasy Sports Market Size Trend Analysis and Forecast Report, fantasy sports were a $21.46 billion industry in 2021. The forecast is for this figure to grow to $47.94 billion by 2028, with the probability of hitting $92.61 billion by 2032. Over 70 million internet users worldwide participate in fantasy sports and sports betting.
In comparison, the global sports betting market was valued at $76.75 billion in 2021, estimated at $84.58 billion in 2022, and is estimated to reach $223.40 billion by 2032.
With similar estimated percentage growth forecasts, these two sports obviously have much in common.
A Game That Rewards Skill
Fantasy sports leagues are games of skill. In the US, the Federal government passed a Bill in 2006 excluding fantasy sports and sports betting as games of chance. The Bill further states that these betting types have an outcome that reflects the relative knowledge of the participants.
Furthermore, the Bill says that transactions from banks or similar institutions to online gambling sites are illegal, with the (notable) exception of fantasy sports, online lotteries and horse/harness racing. According to State and Federal laws in the US, fantasy sports betting is not defined as gambling.
In the case of fantasy or simulation sports games, an outcome "determined predominantly by accumulated statistical results of sporting events, including any non-participant's individual performance in such sporting events” is expected, making it legal in the US.
To be competitive, fantasy sports bettors must consider a myriad of statistics, facts and game theories. Especially in the National Fantasy Baseball Championship, the highly skilled fantasy player wins more frequently, making the game a contest that inherently rewards skill.
What Makes Fantasy Betting Different From Sports Betting?
The fundamental difference between the two is that one is a competition between multiple players (fantasy sports), and the other is a competition between the player and the bookmaker (sports betting). With sports betting, a winning bet is entirely dependent on an outcome of a specific event without involving any skill on the participant's part, much like casino gambling.
However, what sets sports betting in a different class from casino gambling is the applied knowledge a participant can use to their advantage. Elements such as statistics, player form, team performances, trends, forecasts, and injuries, can tip the scales in favour of a successful betting outcome of a real-life event.
On the other hand, fantasy sports betting does not depend on a real-life event's outcome. Instead, the result of a bet is purely based on the participant's skills involving their knowledge of the sport. Studying the statistical analysis of players and teams can determine which players are likely to win.
How Can You Use Fantasy Sport to Become a Better Sports Bettor?
Fantasy sports is a great learning platform to better your sports betting knowledge. However, you have to buy in with sports betting, and a punter cannot bet on a sports event for free. On the contrary, you can register to play Fantasy Premier League for free and join over 9 million players competing for phenomenal cash prizes.
By betting on fantasy sports, you can learn the rules of sports betting and bet types for free and then use the acquired knowledge and experience to gain an advantage when betting on sports.
Fantasy sports betting will tremendously increase your learning and decision-making ability. As it helps you to understand the insights in football or other sports games, it can help you plan your sports bets more efficiently.
Earning While Learning
The benefits of betting on fantasy sports games are endless, and it draws millions of players yearly with good reason. Besides all the knowledge and experience you will gain, it will help you start some friendly competition while potentially earning real money and excellent rewards!
Moreover, by playing fantasy sports, you will get a realistic feeling of what it is like to bet on sports for real money.
The fantasy leagues offer intense competition, socialising with other sports fanatics, the chance to own and manage a team and the thrill of victory all in one. So get familiar with terms such as DFS, GPP, 50/50, Multipliers, Qualifiers, and Satellites and get your fantasy game on!
Where to play fantasy sports?
There are probably lots of sites to get started; we at OCR recommend bet365, a well-known, worldwide trusted operator for all online gambling verticals; this operator has been ranked among the top 3 most trusted operators we recommend for online gambling for the last ten years. You can find the link to bet365 sports below.