Daily fantasy sports are a variety of fantasy sports games where contests take place in a matter of days or hours rather than over a whole season. As with traditional fantasy sports betting, players build teams from a pool of professional athletes and earn points based on their team members’ individual performance on the field. Online platforms allow you to place bets and earn money by competing against other players.
Daily fantasy sports, proponents argue, require genuine skill to play well. In fact, in 2015, more than 90% of profits from Major League Baseball fantasy sports went to fewer than just 2% of the user base. That’s why many platforms started introducing features for more level competition, like tiered entry fees, veteran-level identification, the ability to block players, and beginner-level contests, all of which make it easier to get started and work your way up.
Daily fantasy sports in brief
Daily fantasy sports are a subset of fantasy sports betting, played over much shorter time periods, with more frequent team selection, betting and prizes. Participants engage in contests through online platforms, which allow them to build a team of athletes for a given league and win prize money based on the athletes’ real-world performance.
A quicker way to play fantasy sports
As opposed to traditional fantasy sports games, which are typically played out over an entire season, daily fantasy sports are based on much shorter time periods — right down to the length of a single day or sporting event.RECOMMENDED VIDEOS FOR YOU…
For example, one of the most popular platforms for daily fantasy sports, Draftkings, allows you to build and submit your team right up until the start of a game. The results are posted at the end of the day, and earnings made available shortly thereafter.
A booming industry
Daily fantasy sports today is a multi-billion dollar industry. In the US, it’s largely dominated by two online platforms, DraftKings and Fanduel, whose collective revenue for 2018 was close to $25 million. Each year, millions of players invest more than a billion US dollars in contest entry fees.
That’s not bad for an industry whose legal standing, until recently, was on shaky ground. In fact, until 2018, traditional sports betting was illegal in the United States, and the question of whether fantasy sports fell into this category was hotly debated. Today, however, the vast majority of states have explicitly legalized daily fantasy sports, and online platforms are increasing in number, user count, and total winnings awarded.