Can You Make Money on Daily Fantasy Sports?

Home Side Hustles Can You Make Money on Daily Fantasy Sports?

If you're going to play DFS to generate some side income, you can follow this DFS strategy to put yourself in a decent position to succeed.

Let me start by stating what should be clear: daily fantasy sports apps are not a reliable source of money.

Playing any fantasy sports with real money on the line you’re as likely to lose money as make it – and in most cases, more so.

At the same time, however, daily fantasy has become an extremely popular activity, with almost 57 million people in the U.S. and Canada playing as of just a few years ago (and more growth since).

That basic fact implies plenty of people are trying to make money through DFS. So – can it be done? And if so, how?

I can’t claim to be a DFS millionaire, though such people do exist. Having played my share however, and having had mixed success, I can at least recommend some logical tips.

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Mind you, these do not comprise any foolproof guide to success or earnings – and again, there’s a reason DFS apps don’t appear here. They are not reliable sources of income.

If you’re going to play anyway though and you’re hoping to generate some side income, you can follow these steps to put yourself in a decent position to succeed.

Startup Loans

1. Stay Informed

The good news, if you’re determined to play daily fantasy, is that there’s a lot of very good expert advice out there.

You can always read articles or subscribe to various fantasy newsletters and statistical tools. You can also listen to a range of fantasy podcasts that have emerged over the last few years.

Just be sure you’re opting for analysis rather than opinions.

Many of the people covering fantasy sports for a living have teams of researchers or at least analytical tools at their disposal and can provide information you don’t necessarily see just by browsing through data on your own.

This can be valuable, and can inform your decisions with your own daily fantasy strategy.

2. Compare Game Styles

The most intimidating thing about daily fantasy can be the lobby on a major site or app.

When you first get into DFS, you’ll see innumerable contests, and some big numbers attached.

You might see “$100 entry,” or “50,000 participants.” As you delve into the lists of available game styles however you’ll find a huge range of contests, from massive ones with those kinds of numbers to head-to-head, one-on-one matchups with $1 on the line.

You’ll also find different types of games with different odds for players. For example, two of the easier options are “50/50” games in which exactly 50 percent of participants earn money back, or “Double-Up” games in which slightly less than half of the group doubles the buy-in.

Choosing a game with better odds is the first step toward strategic, responsible DFS gaming.

3. Compare Platforms

Deciding between game styles is important no matter what DFS site or app you end up playing on. However, choosing a daily fantasy platform is an important part of the process as well.

At this point there is a lot of overlap in terms of the various offerings described above. However, some sites focus more on certain sports than others, they all have different options when it comes to matched deposit bonuses, and some offer fun alternative games, such as “Pick’em” contests.

To some extent the differences between platforms are more about what you like than what’s most likely to win you money. But at the very least you want to makes sure the platform you choose has ample opportunity in the sports you know the most about.

4. Do The Math

When you’re actually choosing a lineup of players in daily fantasy, it’s important to do the math, rather than just look at the players. In DFS you secure the stats of a roster of players for a given day or week, but each player costs fake money, and you have to work within a set salary.

DFS Strategy

So for instance, in NFL daily fantasy, Patriots legend Tom Brady is always going to look more valuable than Jaguars quarterback Blake Bortles. But if Brady

costs $7,000 and Bortles costs $5,000, and they’ve scored comparably in the last two weeks, Bortles is the better buy.

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Add up your salaries and expected point totals as you go, build a few different lineups, and then compare projected point totals, and you may be surprised which lineups work best. But it’s almost always wise to take this kind of mathematical approach.

5. Diversify

If you’re really getting into DFS and you’re interested in having multiple active games at the same time, it’s also a good idea to diversify. This is actually what stock traders do, and while it doesn’t work exactly the same way, the concept holds up.

The idea is not to trust the same assets (in this case lineups) with your whole investment. Instead, try a few different lineups or types of contests.

You may not be likely to win them all, but you’re less likely to lose them all.

Another way to earn money is through blockchain sports betting, but what’s that look like?

Blockchain Sports Betting: What’s That Look Like?

More and more bookmakers have implemented Bitcoin as a form of payment. Some of them were born precisely as Bitcoin betting houses, that is, everything is focused on the new digital currency. Blockchain sports betting has become very popular offering an impressive blend of Bitcoin and sports. On some online betting sites, you can bet on various virtual sports like football, cycling, horse and greyhound racing, table tennis, motor racing, badminton or archery. Bitcoin betting houses are based on three fundamental principles: fun, fast and fair.

The main advantage of such platforms is their reputation for having a secure infrastructure and the variety of sporting events their covers. Most platforms do not require any personal information from its users. Users can easily & fast create an account and place their bets anonymously. Bitcoin is a digital currency that has some features that make it interesting for sports betting. Deposits and withdrawals can be processed within a few moments and are also completely anonymous. Therefore, to register with a Bitcoin bookmaker, no personal information is required.

Pure Fun

Bitcoin is increasingly used by online betting houses due to the many advantages it has, both for users and for the betting houses themselves. These advantages are being used by thousands of users around the world, who already prefer to operate with Bitcoin instead of traditional currencies.

Online betting houses present an entertaining way to hang out, making sports bets, including live bets that cause a lot of emotion. Something that draws attention and is new are virtual games. Most betting platforms provide an excellent customer service and extremely fast payments. Find your favourite teams and sports easily and place your bets. You can bet on women’s or men’s tennis, ice hockey, boxing, volleyball, cycling, or golf. Try thrilling live bets that require immediate action.

Live Service for Everyone

Online betting software has been designed to ensure that you are able to find the best odds and place a bet with no more than three clicks. The live countdown begins! Time is the essence in the Bitcoin world & live sports betting. Countdown timers allow you to accurately track the progress of any sports competition.

Sports Betting Experience

Online sports betting leaders cover all major categories of sports and games, including basketball, football, handball, soccer, volleyball, winter sports, tennis, cycling, cricket, billiards, ice hockey, motor sports, rugby, bandy, darts and even e-sports.

You can place bets in tournaments and popular leagues such as the NBA, the NHL, the NFL, the English Premier League, the Spanish First Division, the Italian Serie A and many more.

How Does Sports Betting Work?

The very exciting thing about sports betting is that it offers an option to bet on e-sport tournaments that also involve video games.

There are plenty, amazing and unique loyalty programs and event-based promotions to attract more users. The platforms focus on security, performance and customer service. Quality, reliability, and performance are its most important features. The loyalty program takes the form of monthly leaderboards. Players can choose between several leaderboards at the beginning of the month and start betting according to the eligibility criteria for the chosen badge. The bets placed by the players are reflected in the position of the leaderboard. As players collect more points, their winnings will also grow considerably.

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Finally, sports betting sites actively support its users and offer multiple channels to get in touch with customer support. It is a perfect occasion for beginners and experienced players anywhere in the world to place bets and win.

For Bitcoin Fans

There are some sites exclusively developed for players who wanted to have Bitcoin as a payment method. Everything there is focused on Bitcoin, a digital currency that allows users a total control of their accounts thanks to the Bitcoin wallet from which they pay. It guarantees complete security in their transactions and absolute privacy. In fact, neither the casino nor the betting house knows who you are, nor where are you from and where do you live. It only knows that you, an email account, have made a transaction to bet or play the casino and that you have also made a withdrawal of money because you have won a few times. Nothing else. This allows anyone from anywhere in the world to have access to the betting house. You can use it even if you do not have a license from your own country.

Most betting houses offer both single and multiple bets and have different types of bets for each event. Usually, they offer not just football. There are also main & famous basketball and tennis tournaments well known in the world, as well as the major American leagues ( NHL, NBA, MLB and NFL ) and all the major sporting events that take place throughout the year. Perhaps, the only thing that can be missed is that there is no possibility of betting on the World Championship of Motorcycling, although there is Formula 1, NASCAR and even Superbikes.

In addition to all this, you can also bet on minority sports such as cricket, badminton or snooker. Also, the e-Sports, so fashionable now, also have some events to bet.

Where is it Available?

Sports betting is available in all countries of the world. It is a website exclusively for Bitcoin users, so it would be a contradiction that it would not work anywhere in the world. In those countries where you can not play because of licenses, using a VPN we can skip the restriction without problems. Betting houses are 100% international!

Can You Trust Sports Betting Online?

Absolutely. Paying in Bitcoin is 100% safe. You only have to enter the amount of Bitcoin you want in an encrypted address, which you can remove any time you want. Nobody knows your identity or where the Bitcoin comes from. Nothing. For that reason, using sports betting house may be safer than a betting house where they accept all kinds of payments. If anything characterizes the betting houses where Bitcoin is allowed, it’s perfect security.

Image Source: Andrew Harrer/Bloomberg via Getty Images

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About the author

Mark Harris
Mark Harris is known as the 'finance guy' around these parts. He also likes to branch out and talk about a variety of other topics from the side gig economy to investing, and more.

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