Some people love to take big risks by playing a football card or putting some other sports bets on a book. It can be fun and exciting, but it can also be devastating if the losses keep adding up. However, this doesn’t mean you can’t make money off of your sports knowledge.
Fantasy sports are a great way to put that knowledge to use and actually make some money while you are at it. It takes longer than placing a bet, but it can be much safer and very lucrative.
In this article, I will give you some advice on the ways that you can make money from playing fantasy sports.
Choose your sport
You may love a variety of sports and have a lot of knowledge about them all. But if you focus on one then you can really dive deep into it and be far more focused. If you are a basketball fan, then having a really solid NBA DFS will likely be more successful because you aren’t distracted by other sports.
Once you have a good strategy working and are making some money then you can pivot and use the same ideas for different sports. And if the seasons do not intersect much then this could work in your favor so you can be making money year-round.
You can also pick a sport based on how many games in the season as you have more opportunities to make money. You can choose a short season like the NFL so you can wrap up the league sooner and collect your money at the end.
Enter a lot of events
Just like investments, your strategy for making money doing fantasy leagues needs to be diversified. This means signing up for a lot of different events and platforms. The obvious ones are DraftKings and FanDuel but it shouldn’t stop there.
You should also be joining some small leagues online or even with friends to spread out the risk. The more you can manage to do the better your chances at making more money.
Have a spreadsheet that can give you accurate lineups for all your events and platforms so you can stay organized.
It can be difficult to juggle since each league and platform have different ways that players can score points. This means that you must do a lot of research to make sure every lineup is optimized.
Run your own leagues
If you are really organized then you can start a number of leagues and act as commissioner. You collect fees from all the players in your league so this can add up to a nice sum of money.
It is work, however as you can’t just take people’s money and that’s it. You have to make sure that your leagues run smoothly. This means that you must have clear rules and enforce them regularly. Setting up drafts and creating a point system that makes sense and is more fun for the owners.