Daily Fantasy Sports (DFS)

Alisa Barladyan
03 Apr 2022
19:22

When it comes to season-long fantasy sports events, daily fantasy sports have been available since 2007. Daily fantasy sports (DFS) have recently been more well known in the United States, after the legalization of sports betting in that country two years ago.

In this article, we will discuss what DFS is and what it is all about.

Daily Fantasy Sports in a Nutshell

In daily fantasy sports, teams are selected, bets are placed, and rewards are awarded more often than in traditional fantasy sports since the games are played over shorter periods.

Competitors create athletes for specific leagues on online platforms, competing for cash prizes based on how well their team performs in reality. Proponents of daily fantasy sports say that success in these games necessitates actual talent.

In 2015, less than 2% of Major League Baseball fantasy sports players pocketed more than 90% of the earnings generated by the industry.

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The Easiest Way to Participate in Daily Fantasy Sports

Daily Fantasy Sports (DFS) differs from traditional fantasy sports games. They only last for a single day or athletic event instead of the complete season as traditional fantasy sports.

For example, DraftKings, one of the most popular platforms for daily fantasy sports, allows you to design and submit your team shortly before starting a game. End-of-day results are released, and earnings are made accessible shortly afterward.

Best Daily Fantasy Sport Sites

Types of DFS

In the United States, Draftkings and FanDuel are two of the most popular daily fantasy sports services. The operators of these agencies have varying degrees of deviance. There are many different types of daily fantasy sports.

Guaranteed Prize Pools

In this category, participants pay an entry fee and compete for a predetermined reward. It's a tremendous success for the participants because they may enter several times.

 As the name implies, winners will get their rewards regardless of how many positions are filled. The game proceeds regardless of whether or not there are any open spots.

Cash games

Many people participate in this form of fantasy every day. Creating a league or joining an existing one falls under this category.

The best teams are then granted awards based on their performance. Cash games have lower prize pools than guaranteed prize pools, and as a result, their continuation is not assured.

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Head-to-Head

Two players face off in this match-up-style game. They fight for prize pools, in which the winner gets the entire sum of money. If you win a daily fantasy sports game, you get the whole reward fund for that day.

50/50

The other daily fantasy game type popular with players is called 50/50. The majority of people in this group share their interests. The other half, who have departed, have made no more gains and have received nothing.

A few other DFS variations don't use the DraftKings/FanDuel model, but they all use player statistics. Some versions choose players without paying them a "salary," while others utilize house-banked predictions to predict how well a given player or players would perform.

Parlay and prediction fantasy sports

A new class of fantasy products has emerged for the first time that focuses on projecting individual player performance rather than picking an entire team.

How to Play Daily Fantasy Sports

Creating an account, building a team, and collecting your prizes may all be done online or using mobile apps. Check the terms and conditions carefully before you begin.

These can vary from site to site, and each has its own set of guidelines and methodology for calculating your score. To sum it up, here's how it works:

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Register for a daily fantasy sports account on a sports website

You have a few choices, but it's usually easier to use one of the more important sites because they offer resources and leagues designed explicitly for newcomers. It is not difficult to get started with either DraftKings or FanDuel.

Choose a game mode, sport, and contest

To begin competing, you must first create an account and choose the sport(s) you want to participate in.

The vast majority of platforms support these sports—however, a few specialize in just one or two, such as NASCAR or MMA.

You'll need to sign up for a contest if you want to participate. Sport, style, size, minimum purchase, and length will be advertised on the platform's main screen or lobby. An entry fee is required to participate in a competition.

Create your team

It's now time to assemble your team. If you're looking for a particular player, you'll be able to see their stats and, if relevant, recent reviews.

Choosing the most incredible squad possible is entirely up to you, but you'll need to keep their total pay under a particular amount, known as the "salary cap." When it comes to daily fantasy sports, the trick is in team creation, so think carefully about your alternatives.

Sports offered in daily fantasy

DFS is most prevalent in the following North American team sports:

  • Baseball (MLB)
  • Hockey (NHL)
  • Football (NFL)
  • Basketball (NBA)

Many additional sports are available on sites like FanDuel, DraftKings, and others, including:

  • Golf
  • NASCAR
  • College football
  • College basketball
  • Soccer
  • Mixed martial arts
  • Esports (like League of Legends)
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Information About DFS Sites, Including Stats and Bonuses

The DraftKings promo code and a brief overview of the site's features

Draftkings webpage showing the signup bonuses
DraftKings webpage

Before other legal online sportsbooks, DraftKings made its US debut. Over the last several years, the sports betting business as a whole has developed at an exponential rate, with DraftKings being one of the pioneers.

The DraftKings Sportsbook will be launched in New York, Louisiana, and Maryland in 2022, after the company's expansion into more than a dozen states, including Arizona and Illinois. New players may take advantage of a $1,050 DraftKings offer with cutting-edge technology and features.

The DraftKings promo code for January 2022

DraftKings PromoBonusMinimum Deposit
Free Bet Offer$50 with any deposit$5
First Deposit Bonus20% up to $1,000$5

To access both halves of the DraftKings Sportsbook bonus, you must make a deposit. As an introductory offer, you may earn $50 in free bets by making a $5 deposit.

You'll earn $50 in free bets once you deposit, which you can use to place your wagers. You can't get your money back, but you can keep it if you win.

The DraftKings promotion will also provide you a 20% bonus on your initial deposit of up to $1,000. To receive a $1,000 incentive, a $5,000 deposit would be required.

Alternatively, you might begin with a lower sum, such as $100, in which case the matching bonus would be $20. For every $25 you wager on the site, you'll earn one dollar in bonus money that you may use to withdraw.

The FanDuel promo code and a brief overview of the site's features

FanDuel Homepage showing the welcome bonuses
FanDuel webpage

Over time, FanDuel has grown to become one of the most popular US-based sportsbooks on the internet. Several states, including Arizona, Colorado, and Pennsylvania, have seen its growth since its inception in New Jersey in 2018.

More than a dozen states have legalized sports betting, and more are expected. On January 8th, New York and Louisiana are slated to go live. FanDuel offers a risk-free way for new customers to test out the site and popular features.

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The FanDuel Sportsbook promo code January 2022

FanDuel PromoBonus
FanDuel Sportsbook Sign-Up BonusUp to $1,000 risk-free bet
FanDuel DFS No-Deposit Sign-Up Bonus$5
FanDuel DFS Deposit Match20% for up to $500

Upon signing up, you'll be able to take advantage of a risk-free wager with a deposit. However, you may also activate the deal with smaller payments such as $50 or $100. It only applies to the initial bet you make on the site, so you have some protection.

If your gamble is unsuccessful, FanDuel will reimburse you up to the maximum amount of your wager as site credit. The site credit you've accrued isn't instantly available for withdrawal, but you may use it to place more wagers. Your winnings will be available for instant withdrawal from FanDuel if you are the lucky winner.

Is Daily Fantasy Sports Legal?

The legality of daily fantasy sports is now a hot topic in the US. Most countries consider DFS a kind of gambling that requires a gaming license to operate.

The legality of DFS in the US is sometimes murky. First, some scope: The Unlawful Internet Gambling Enforcement Act of 2006 spawned an entire industry.

This federal rule only relates to internet gambling payment processing, but not fantasy sports. Many people, including the UIGEA's originator, say the law was never intended for DFS. Added to that, state law trumps federal law in determining what is and isn't gaming.

Attorneys general around the country say DFS is illegal gambling, causing issues in states like Illinois and Texas. And, according to some legal experts, those jurisdictions aren't the only ones where DFS is suspected to be operating illegally.

This has led to confusion over where you may play DFS, as well as a spate of regulations intended at establishing the game's legality. Several states have approved DFS legislation since 2016.

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FAQs

What other daily fantasy sports sites are there besides DraftKings and FanDuel?
Numerous DFS providers compete for the business. Yahoo, FantasyDraft, and Draft are just a few of the most well-known options.
Is daily fantasy sports just another way to bet on sports?
According to whom you ask, the answer will vary. While some people regard sports betting to be a game of skill, almost everyone else sees it as a type of gambling. Depending on how you look at it, DFS is either a skill-based game or plain gambling. Casually, most people consider it a form of skill-based gambling.
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