The opportunity for interested parties to play fantasy sports is at an all-time high. But even still, there is room for growth. Piggybacking off of two prime platforms, BettingOnFantasySports.com reveals what they are, how they are implemented, and how prospective fantasy players are able to use them. While sports wagering remains extremely popular, the idea of wagering on fantasy sports is appealing because it's something that is different.
The concept isn't brand new though as there have been many successful websites that pay out account holders millions of dollars every month. The word is out about fantasy sites and the reviews have been nothing but positive.
Is It Legal To Bet Real Money On Fantasy Sports?
The concept of placing a wager on fantasy sports obviously begs the question over the legality of the issue because of the fact that sports gambling is very limited in the United States. In fact when it comes to online sports betting sites, bettors have to branch out to offshore sportsbooks located outside of the United States. However, those same federal laws that govern sports betting are the direct reason that betting real money on fantasy sports is legal.
Within the Unlawful Internet Gambling Enforcement Act, Federal Wire Act, and the Professional and Amateur Sports Protection Act, fantasy sports are excluded from the term 'gambling'. This means that sites can operate in the U.S. legally, and those who are interested in playing fantasy sports online for money can do so without having to worry about breaking any sort of federal or state laws.
How Does Fantasy Betting Work?
At its core, betting on fantasy sports really is quite simple. Certainly there are a lot of numbers, statistics, and research that can be done in order for a team owner to try and formulate the best team possible. But at the end of the day, betting on fantasy sports simply means placing a wager on the team you've created to go up against other teams.
There are several ways in which this can be done however. There are traditional fantasy leagues, and there are daily and weekly fantasy betting leagues. Traditional fantasy leagues operate under a draft where players selected belong to that team for the season. The money that can be won through this type of fantasy sports league comes at the end of the season, where cash and prizes can be awarded to the winner(s).
Daily and weekly fantasy sites operate on a different platform. The philosophy of these sites centers on no regular draft and no season-long team in which players are tied to owners for the duration. Rather, daily leagues allow fantasy players to select a team for that day and enter into tournaments and leagues to try and win money. The tournament lasts just for that day, with money disbursed according to how the rules were set up. There is no requirement for how many tournaments can be entered; players are free to do as they choose. The bet is placed through a tournament entry fee where there can be as little as two teams, or up to several thousand. With that, comes a huge disparity in what players can win. It's all up to how they want to play their teams. Another important point to make is that every team formed for a tournament can be different as well. A player that is selected to be on a team is still open for every other user to select as well.
The form of sports betting most similar to fantasy betting comes in the area of player prop betting. Essentially gambling on fantasy sports involves placing money on the performance of players indirectly to add up to a score. Player prop odds place a direct bet on a player's performance for a game, whether for yardage, touchdowns, or a number of other categories. Fantasy betting could be derived from player prop wagering.
Where Can I Gamble On Fantasy Sports Online?
There are many websites dedicated to fantasy sports betting where users can create an account, formulate a team, and play for a desired amount. Both traditional draft leagues and betting sites have this opportunity; the forum is the only difference.
Potential fantasy team owners looking for a wide range of daily and weekly leagues will do themselves justice by visiting FanDuel. This site provides a user-friendly atmosphere in a well-organized system of fantasy betting comprised of daily and weekly wagering opportunities. There are four different betting arenas that FanDuel features. They are leagues, tournaments, head-to-head, and 50/50 where half of the field entered wins. There are plenty of chances to win real money at FanDuel, and not just fantasy betting on the NFL either.
There are six total sports that FanDuel currently has available for their account holders to try fantasy betting. The site pays out several million dollars a month to its users. We definitely recommend that you visit FanDuel, create an account, and give it a shot.
Hundreds of player prop betting odds can be found at Bovada Sportsbook at any one time, making for one of most extensive selections offered of any online sportsbook in the world. Bovada is not a fantasy betting site, it is an online sportsbook. But, it's a sportsbook that gives users the chance to wager on a multitude of players covering statistical performances within their matchups.
Bovada accepts a couple of different types of wagers for player props. Straight bets are the most common, where one wager is made for a single outcome. But parlays are also quite popular at Bovada Sportsbook too. These wagers can link different player props together for a high payout. You'll be hard-pressed to find a better selection + range of options associated with player props than you will at Bovada!
While there are many traditional league fantasy websites around, one of them has separated itself from the pack through options, service, and quality. There are plenty of different fantasy opportunities available at CBSSports.com. This is a great traditional site that allows for drafts to take place, teams to be selected, and even the chance to play for big cash and prizes. Leagues get the opportunity to play for free, or can purchase prize packages that they compete for and award to the winners at the end of the season.
Exactly how good is the software behind CBS Fantasy Sports? The NFL fantasy football used to be the software behind the official NFL fantasy on the league site. CBS is rated as the top fantasy football site, but is regarded very well among other leagues that they offer as well.
More About Betting Money On Fantasy Sports
Let's check out some other important information about betting sites for fantasy sports. Most notably, what sports are commonly available, how much you can expect to spend and win, and creating your account to get the ball rolling.
Fantasy Sports Available To Bet
Not every fantasy site will have the same sports available, so it's important to check out a few different sites if you've got a particular sport or league in mind. Obviously the biggest fantasy sport out there is football and the NFL. But there are many more opportunities to try out. Fantasy baseball is very popular, as is the NBA, and even the PGA Tour. Both traditional and fantasy betting sites will be made up of different options to play.
How Much Does It Cost?
This part is very unique, because both the sites and the fantasy players have a role. First off, it can be completely free if players do not want to bet real money. There are many free leagues that can be joined at traditional sites and daily sites. But if you are interested in playing fantasy sports for money, there can be league costs and a charge for cash and prizes at traditional sites. With daily sites, it's left up to the account holder. They can play for small entry fees, large entry fees, in 50 leagues, or in 2 leagues.
How Much Can I Win?
With a traditional league, the parameters are installed prior to the draft where the amount that can be won is known. For a daily site, there is no limit because the leagues are continuous an ever-changing. Players are able to create teams for as many leagues as they want. This means that payouts can vary greatly depending on the type of player.
Getting Started Betting On Fantasy Sports
If you've decided that fantasy sports gambling is something that interests you and you want to know how to get started, follow these simple steps below. The good news is that it's not complicated to get things going, and within minutes you can be set up at both types of sites.
An account registration is required for a traditional league site and a daily tournament site. The information needed could differ from site to site, but there will be a general process for opening up as a new user.
If you are playing for money, then the next step would be to fund an account. At daily fantasy betting sites there will be a list of accepted funding options. Major credit cards are generally accepted, as is PayPal. For traditional leagues, the expenses can be a startup cost for the league, or a purchase of a prize package for the season.
After your account is created and funded, it's time to play the fantasy sport you've registered for. At a daily site, that can be a number of different sports because your account gives you access to every type of sport available.
For those that win, traditional leagues will payout the prizes that were established at the start of the league. Getting paid out through the daily site will be specific to the withdrawal methods there. Most come in the form of a check, or an electronic payout through PayPal.
