Fantasy sports is a great way to make the games more exciting.
It’s also becoming a great way to make some quick and easy money.
We’re all familiar with the full-season fantasy leagues and pools. Draft a team, make trades throughout the year and hope that your players outperform everyone else’s, with the winner claiming the pot at the end of the season.
Now you don’t even need to wait all year to get results.
Several websites have recently introduced daily fantasy sports, where you draft a team each day (or week, when it comes to the NFL) and go one-on-one against other opponents or join a larger pool.
The big advantage is the immediacy of results. At the end of the day, take your winnings and throw them back in for the next day or week’s action.
If you’re good, you can make a lot of money because you’re applying your edge day after day. It’s a lot easier to come out ahead than picking a team and crossing your fingers that you’ll finish first at the end of the year.
The best website we’ve seen for daily fantasy sports is FanDuel. FanDuel offers daily fantasy games on the NFL, NBA, NHL and Major League Baseball. There are several different options for players, like picking teams under varying salary caps or using an auto draft that selects your team (you can rank the players yourself before the auto draft).
FanDuel makes its money by charging a small commission on all the games, much like the rake in poker. For example, if you play a $5 game, you’ll win $9 (the other $1 from your opponent goes to FanDuel).
That means you’re playing against everyone else, not the house. If you know your sports, it shouldn’t be too hard to come out ahead.
A friend of mine recently started playing at FanDuel and is doing quite well. He posts a lot of games each week in the NFL, so even if he just wins 60 per cent of his games, he’ll end up making some decent coin.
I started playing at FanDuel a couple weeks ago and have made some quick money as well. On top of the financial gain, it also makes the games even more interesting, pulling for your players and cheering against your opponent’s.
Check it out. It never hurts having another way to use your sports knowledge to make a few bucks.