What are DFS?
DFS, stands for daily fantasy sports. If you are not familiar with the term you are no doubt familiar with the sites that they run on. Popular sites like Draft Kings and Fanduel are constantly advertising through all different types of televised sporting events.
What makes them different?
There are a couple things that separate these sites from the standard fantasy sport sites is that you do not draft a team and then have the same team through out the entire season. Instead you are given a salary cap with which you use to build your team. You also have the opportunity to enter some of the contests multiple times, allowing you to enter in a number of different lineups to have a better chance of getting them correct. Like most leagues that you play in there is money involved; however they range in price so that any one with any budget is able to enter in a tournament and have the opportunity to win.
So is it Gambling?
The main argument that tends to come up when talking about fantasy sports, is whether or not it is gambling. To a certain degree I would agree that it is gambling, for the simple fact that you are spending money to win money. In some contests the chance to win thousands of dollars. My argument that is not entirely gambling is that there are a number of variables that require an incredible amount of not only a strong knowledge of the sport that you playing, as well as time and research into it as well. As it is with gambling, the person that takes the time and effort to research and develop a good strategy are usually the ones that come out on top and the world of fantasy sports is no exception.
Is it possible to make money doing this?
The simple answer is yes. It is possible to make money entering these contests; however in my experience, since most tournaments are played with a large amount of people it is incredibly difficult to make large amounts of money. The reason being that with so many people entering in lineups, it makes it that much more difficult for you to have the winning lineup. One thing that helps is that you are able to enter multiple lineups into these contests to help increase your odds of picking the winning lineup. On the flip side so is every one else that enters into the contest. To give your self the best chance to come out of these contests ahead is to do a combination of research and entering in a bunch of different lineups. One effective strategy is to comprise a list of the players that you feel have the best chance for success based on the individual match up. Than creating multiple lineups with the players you feel give you the best chance to score the most fantasy points.
There is a difference between making money dong this and making enough money doing this as a sole means of earning a living. Doing this for a living requires an incredible amount of time and research. I do not want to give any one the impression that they can simply start to this and will instantly be making enough money to quit their day job. Believe me I wish that were the case, but you know the old saying, if it were that easy every one would do it. It can definitely be a way to make a little extra money, but the same rues apply, it will require that you spend time not only researching stats and match ups as well as actually watching as many games as you are able to.