Frequently Asked Questions
If you’re unfamiliar with DFS, you’re in for a treat. DFS stands for Daily Fantasy Sports and it’s one of the greatest creations by man. If you don’t know what fantasy sports are, let me break it down. It’s simply drafting a team of players from any sport and using their stats for your own individual self-constructed roster. Fantasy baseball was actually created in the 1980s in a rotisserie format and it has been developed into a billion-dollar industry. Season-long formats were the originator but daily fantasy sports have taken over. Unlike season-long leagues where you draft a team and play out the season with waiver wires, etc, DFS allows you to play every day.
There are many ways to play DFS but the most common way is to build a lineup with a designated salary. You fill positions just like managers for actual sports franchises and it’s a way for anyone to manage a hypothetical sports team as they please. It’s become such a big industry, there are many DFS sites out there and billions of dollars at stake. Sites like FanDuel and DraftKings are the biggest ducks in the pond but there are tons of other ways to play. There are also sites like Monkey Knife Fight, which allows you to play fantasy through props rather than salaries. This is simply picking if a player will finish above or below a designated projection. For example, you can pick whether Tom Brady will throw for more or less than 300 yards. That’s completely different from the salary-based formats, where players get rewarded fantasy points for the stats that they accrue.
This is probably the most complicated question, simply because there are so many ways to play these days. Let’s discuss the most common format, which happens to be salary-based. While we discussed it a little bit earlier, here’s a better breakdown. Much like an on-the-field team, you construct a roster based on a salary. Let’s say you’re playing football and you have a $100 salary for a particular DFS contest. That means players will be priced accordingly based on their production and matchup and your goal is to keep inside your salary means and build the optimal lineup. Your players will collect fantasy points based on your particular scoring format and you’ll compete against other DFS players to aim for the highest score.
The types of contests vary as well. Many people like to play tournaments because that’s where the big bucks are made. This is simply a fixed amount of people all entering into a tournament and the top-scoring teams will win the majority of the money. Usually, the winner will take down about 15 percent of the prize pool while about 20 percent of the field will get paid some amount of money based on where they finish. There are also head-to-head matches, in which you play someone one-on-one with the winner taking the other person’s buy-in. There are also 50/50s, in which half of the field make double their buy-in. That’s just a small amount of the contests available and there’s anything for anybody based on how you like to play.
DFS is simply one of the fastest-growing hobbies in America and it’s truly a game-changer for sports in general.
This one is quite simple. If you go on your browser and type in DFS, you’ll find thousands of sites at your fingertips. The biggest ones are FanDuel and DraftKings, as those two sites have billions of dollars’ worth of contests every year. They’re actually notorious for making millionaires out of DFS players and it’s as simple as signing up and making a deposit to start playing for real money. While it may sound sketchy to enter your credit card information into a DFS site, these sites have unbelievably strict security because of all the money that they go through. If you want to get started, you can even create an account for free on these sites and test the water before even making a deposit.
It’s a fine line to determine the difference between DFS and betting because at the end of the day, it’s putting down money on sporting performances. The government would tell you that DFS is legal because it’s a skill-based game while sports gambling is luck-based. Both of these initiatives are well on their way to being fully legalized and but different states have DFS as illegal and some have sports betting as illegal while some have them legal.
To put it simply, DFS is predicting player performances while betting is gambling on team performances. What makes it interesting is that you can find the same betting props in Vegas that you can find on DFS sites. That aforementioned passing yardage prop that we outlined for Monkey Knife Fight is something you could see on a betting site and it truly emphasizes just how close these industries are interconnected. Many DFS experts use betting lines and totals to help do research for DFS, and almost anyone in the industry would tell you that DFS is a form of betting, despite the contrary legalities.