A Beginner's Guide to Fantasy Sports Betting Online
The world of fantasy sports betting is still relatively new, and it is certainly unique. As the name suggests, this form of sports betting consists of fantasy contests as opposed to specific and real life events.
Fantasy sports betting has become hugely popular within the USA and Canada, and we have seen leagues emerge for many sports including Baseball, NFL, Ice Hockey and Basketball. Fantasy sports betting has also evolved outside of North American sports too, with leagues springing up across Europe including the Premier League, Champions League and other soccer leagues alike.
Typically, sports bettors who engage in online fantasy sports betting will do so over the course of a season, rather than on one singular event.
Fantasy Leagues, including the NFL and the Premier League typically operate the same way. Players are required to pick their 'fantasy team' each week, with the hope that their chosen players perform well (in real life) and are chosen for the fantasy team. If they are correct, players will win points and potentially cash prizes.
How to Take Part in Fantasy Sports Betting
Fantasy sports betting is very different to traditional betting. With online fantasy sports or contests, you can bet and try to win against each rather than a bookmaker. There are also numerous ways in which you can take part.
And while there are numerous leagues that are popular across North America and Canada, there is still only 3 fundamental ways in which a league traditionally operates.
- Fixed Entry Competition
Through fixed entry competition, you will pay a set fee to take part and choose your fantasy team each and every week. This can be a one-time entry fee for a weekly competition, or an entry fee for a season long league.
- Prize Pool Competition
Prizes pools are almost always designed for ongoing fantasy sports leagues, with players choosing their fantasy team each and every week for an entire season. Players can play in open leagues or closed leagues, and if they perform well they can win real cash prizes.
- Bet against one opponent
Unlike prize pools, the world of online fantasy sports provides another unique betting opportunity. Rather than engage in ongoing leagues, you can simply place a wager against somebody else. This will often be for just one week, and the player whose team performs the best will win the opponents stake.
Currently, fantasy sports betting is available for some of the biggest leagues in the world. This includes the NFL, NBA, NHL, Premier League (UK soccer), Champions League (European soccer) and many more.
Fantasy Sports Betting vs. Traditional Sports Betting
There are distinct differences between fantasy sports betting and traditional sports betting. The most distinct difference is that online fantasy sports are not based on one specific outcome, while regular sports betting is.
Secondly, fantasy sports usually require you to select a team week after week - with the only way to win money being winning the actual contest (or placing high).
Thirdly, fantasy sports betting is much more of a community event. This is because players are betting against each other, and the standings of particular fantasy sports leagues are updated weekly. This creates an enjoyable betting environment, and allows players to compete against friends, colleagues or even family.
Finally, engaging in online fantasy sports ensures that betting is much more controlled. With traditional sports betting it can be easy for someone to chase losses and gamble beyond their limits, whereas this isn't really possible with fantasy sports betting.
Do's and Don'ts of Fantasy Sports Betting
While fantasy sports leagues create an enjoyable and competitive environment, the majority still enters with the intention of trying to win! And it is possible, providing you follow the advice given right here.
- Watch your chosen sport closely
Since you will need to pick certain players each week, it is vitally important to actually follow the sport in question. For instance, there is not much point in taking part in a fantasy football league if you have a very vague interest in the NFL. To have a chance of winning you will need to be extremely aware of what is going on in that particular sport. This will allow for more informed choices when selecting your fantasy team each week, as well as a better overall enjoyment level.
- Choose a sport you enjoy
While these may seem obvious, many players still take part in fantasy sports leagues that they don't have a particular interest in. This is sometimes the result of potential prizes outweighing a player's actual interest in a sport. There are many sports that have fantasy sports betting availabilities such as: soccer, basketball, football, ice hockey, baseball and several others. However, choose one that you enjoy to maximize enjoyment from these contests.
- Don't always choose the best
Let's take basketball as an example. If you choose Lebron James week in and week out, it is highly likely that many others have chosen him. Be creative and search for lesser-known players to gain an edge over the competition. Particularly since there can be greater points awarded for players that are less obvious or less favored.
And, in the end...
Fantasy sports betting provides an ideal environment for beginner's to get their feet wet with betting. The associated risks, both monetary and habitual gambling is considerably less. It also provides an environment that can be highly engaging and enjoyable, not to mention the potential for high payouts on specific leagues.
To get started, simply enter a contest of your choice and start taking part. We suggest choosing a league or even a singular event where the entry fee is relatively low, especially until you become more familiar with fantasy sports betting.
