As previously mentioned, there are several ways to bet in fantasy sports betting, but the type of wager you choose depends on the sport and whether you’re participating in a league for an entire season, or opting for a stake in daily fantasy sports.
The rules for creating teams also differ by sport, but for the most part, you're given a budget or salary cap to choose players (they each have a price tag attached to them) for your team. Points and scoring systems also vary. For example, how your team earns points in soccer will be different from how they earn them in baseball or football. In football, a player in the wide receiver position would accumulate points based on his yards, touchdowns, etc. whereas a soccer player would rank for goals, penalties, etc.
You already know that fantasy leagues generally comprise playing against another fantasy team. In football, a winner is crowned if their team scores the most points among their starting lineup, so the goal is to pick a formation that will yield the best overall statistics, leading to more points, and, ultimately, the winner of the prize pool.
Some leagues don’t award 100% of the prize pool though. Instead, winners get a certain percentage of it, and there are smaller sums awarded to the runner-ups.
Fantasy sports bettors can also choose to play against a single opponent only. Their wagers placed would be equal in amount and the winner (who walks away with their opponent’s stake) is determined by whose team scores the most points.
Daily Fantasy Sports
Daily fantasy sports break the months-long full-season format of classic fantasy leagues into smaller, more action-packed chunks where you can choose your exact favorite players every day or week. There’s no heavy commitment involved, so you’re not stuck with, say, a poor choice of players (for months and months on end) that don’t deliver results or win you any money.
In daily fantasy sports, injuries and poor drafts and trades are not an issue as with the season-long version.
Sports-crazy fans and those keen on fantasy sports can look forward to nonstop fun and entertainment while selecting the precise starting lineup or team of their choice. There are also more opportunities to win because the contests are consistently on with daily and weekly wagering taking place.
The salary cap that puts a certain level of restraint on your selection is still in place, but it doesn’t necessarily hinder your control. Remember, it’s not always that the most expensive players are the best — this is especially true in daily fantasy sports.
Here are the steps to get started with fantasy betting:
Find a Reputable Sportsbook
Select a trusted fantasy site or sportsbook (more on this in just a bit).
Register or Sign in
Create an account if you’re new, or simply login.
Select a Fantasy Sport
Navigate to the daily fantasy sports offering and select the one you’re most confident in. You should have a fair amount of knowledge of the sport, as well as insights into players, teams, and gameplay.
Opt for a Game Type
Choose your betting or game type (we will cover this in the next section).