Being a consistent winner at daily fantasy sports is no small feat in 2019. DFS is littered with sharks who are looking for vulnerable prey to line their pockets.
To compete with the big boys on sites like DraftKings and FanDuel, you need sound strategies and smart money management. These skills are especially critical for newbies.
This article will provide ten tips to help new DFS players get started and remain competitive on FanDuel. If you follow these tips, you’ll minimize your spend and increase your chances of generating a positive cash flow.
The days of huge deposit-match bonuses are over. Even trying to figure out how to claim your bonuses requires a degree in mathematics.
Still, when you’re a DFS novice, you need to pinch every penny you can. To that end, FanDuel has recently re-introduced a deposit match offer for new users.
It’s not the massive bonus that it once was, but it will save you a few bucks as you start to get a few contests under your belt.
2. Gain an Edge by Leveraging DFS Tools & Analytics
The best FanDuel players are not spending their time browsing the web for player news. They’re not building spreadsheets or developing algorithms to help them construct a productive team.
Successful daily fantasy players utilize software that helps them quickly research and configure tons of winning lineups. By applying proven strategies, they leverage software packages to gain an edge across many contests.
FanDuel offers some widgets for creating lineups, and they’re passable. But who wants to enter a lineup with the same players as others who are using FanDuel’s free builders?
The best DFS lineup optimizers are independent software suites. The developers behind these tools employ proprietary algorithms that you can use to build winning lineups for numerous DFS hosts and sports.
These sites offer packages for every skill level and budget. Most offer a free trial period so you can build a few lineups and test their viability before you come out-of-pocket.
3. Get Familiar With the Supported Contest Categories
At the current count, FanDuel has five different game styles and seven different contest types, just for the NFL. Here are the game styles for football:
• Single Game
• Full Roster
• SuperFlex
• 3-Man Challenge
• QuickPick Kickers
And the contest types:
• Tournaments
• Best the Score
• Multipliers
• Head to Heads
• 3-100 Player
• 50/50s
• Beginner Contests
To become a well-rounded player, you’ll need to become accustomed to the most popular contest types: tournaments, head-to-heads, and 50/50s. Once you master these three contest types, you can move on to the less popular ones.
4. Play Lots of Free Leagues to Get Acclimated
FanDuel routinely offers freeroll contests that let you compete in tournaments for cash prizes with absolutely no risk. Newbies should take advantage of these contests, even if you have a minimal chance of taking down a jackpot.
Any practice you can get researching and configuring lineups will help you build confidence as you enter more contests. You can even use a free subscription to a lineup optimizer, along with a freeroll contest, to test your true potential as a DFS player.
5. Take Advantage of Beginner Only Contests
In addition to freerolls, FanDuel offers beginner-only contests to all new users. You have the opportunity to enter beginner contests for your first fifty entries.
In these contests, you will only compete against other users who have played in fewer than fifty contests. Use this time to familiarize yourself and build your bankroll.
6. Adjust your Strategy Based on Contest Type
Using the same strategy for every game you enter is a losing endeavor. The best DFS players adjust their approach based on the contest type in which they’re competing.
For instance, in tournaments, it’s best to select players that have a very high ceiling. Because there are so many entrants, you have to score high or go home.
But in head-to-head contests, it’s smarter to play it safe and choose players with high floors. That way, you’re playing it safer as you only have to beat one other player.
Research the most successful techniques for each contest type, add them to your repertoire, and continually improve.
7. Avoid Big Tournaments Until You Win Consistently
It’s easy to get excited about huge FanDuel tournaments with hefty payouts. Who wouldn’t want a chance to win over a million dollars?
But the reality is that winning even six figures in a FanDuel contest is on par with winning the lottery. As such, it’s a sure-fire way to watch your bankroll dwindle to nothing.
Instead, focus on improving your skills through double-up contest and head-to-heads. This will make your bankroll last longer as you gain experience.
8. Take Advantage of League Overlays
FanDuel hosts some tournaments called GPPs (Guaranteed Prize Pools). These are tournaments for which FanDuel will guarantee the payouts, even if the contest isn’t full.
When a contest starts without being full, this is known as an overlay. Once you progress to tournament play, leveraging overlay tournaments is a smart approach as your odds of finishing in the money can be much higher.
To find overlays, monitor the lobby for unfilled contests that are scheduled to start soon. Then, when you find a promising tournament, pounce.
9. Determine Your Strengths, Then Scale-Up
As you enter more and more contests, you’ll naturally be more successful in some contest types than others. Once you determine your most lucrative contest types, make a concerted effort to focus on these contests.
To consistently win big in DFS, you’ll have to enter more contests. Increase your odds of success by focusing on the games in which you naturally perform best.
10. Learn How to Manage & Maximize Your Bankroll
As the number of games you enter increases, it will become difficult to track your most profitable contest types. Instead of relying on custom tracking spreadsheets (or your instinct), you can utilize software that tracks your contest results for you.
Bankroll management software imports your contest history, applies algorithms to determine your strong and weak points, makes suggestions to improve your game. By tracking your successes (and failures), you can make smarter decisions about your contest choices going forward.
