What was once a simple way of making a sport more entertaining, fantasy sports betting has boomed in recent years.
Fantasy sports betting might be old news to some of you as die-hard fans used it daily in their favorite bar, watching a sports game with some friends or in the living room with a few beers. This form of betting served a more recreational purpose and usually consisted of drinks or pretzels as the prize, not a big wallet-emptying bet.
Due to the technological advancements we’ve seen over the last few years, fantasy sports betting is now more accessible to everyone. As a result, it has increased in popularity and become a significant mainstream way of betting and having some fun. The stakes are rising, and fans can win big this time.
You can still do it all from the comfort of your home, the bar or while watching a game at the club, which is why it is so great, and the public seems to love it so much. If you’re new to fantasy sports betting, fear not; this form of betting is easy to pick up and very soon, you’ll be able to have a go at winning yourself a hefty chunk of coin.
Here are the basics for any newcomers or anyone wanting to refresh their memory and increase their chances of winning big.
What is Fantasy Sports Betting?
First of all, fantasy sports is a type of gaming where participants can create virtual teams consisting of real players. The virtual teams compete against each other and win based on a scoring process and how the athletes perform in real live games.
Types of Fantasy Sports Betting
The private league is considered the more exclusive side of fantasy sports betting. The ‘exclusive style’ of betting has various rules that must be followed to take part in it, assuming you have been allowed into one of these elusive leagues.
This neighborhood fantasy football league style of betting means that once you’ve bagged a player for your team, no one else can use that player. First come, first served in this league. You have to be invited to play, and the stakes are significantly higher than most other ways of competing in fantasy sports. The pay-outs can be huge, but the risks are just as significant.
Participants win by defeating a single opponent, chosen at random each week. This league traditionally lasts a whole season.
Daily Fantasy Open Competition Format
The opposite of a private league is the daily fantasy open competition format. This format can last anywhere between a day or a week. The whole point is to allow participants to get in and out as quickly as possible with their winnings. Fast-paced and medium stakes are the style with this format.
Players can pick whoever they want for their teams with very few restrictions. There will be duplicates in this way of betting which can have drawbacks, but you can make up for it in your strategy. All participants compete against all other participants at the same time. The player with the highest total score wins everything.
Scoring Points in Fantasy Sports Betting
Points are scored based on the players you selected for your team and how well they perform in their game. It is essential to pay attention to the rules when setting up your team, as you need a team that will guarantee you the win no matter the format you have chosen to play. Certain positions on the field will earn you more points, so spending more money on a quarterback is justified in this case.
You don’t have to use real money in this form of betting as each bettor receives a virtual sum of money for their team’s salaries. Virtual money not only increases the entertainment value of any game but also provides you with just as much fun as any other form of betting, with less risk involved.
So why not give fantasy sports betting a go? It’s easy to understand, and you don’t have to get financially involved if you don’t want to. You are in control of who you bet on and how much you spend. The perfect betting opportunity!