Fantasy Betting Explained
Fantasy betting has been getting a lot of press recently, but there is much confusion as to what fantasy betting actually is.
In a nutshell, fantasy sport is a type of online gaming, where participants of the game set up virtual teams of real players of a real professional sports game. These teams then compete in the fantasy world, but play is based on the statistical performance of those real players in the real games. Performance is converted into points, which are compiled, totalled, and managed by each fantasy team’s manager. The actual game play of the fantasy sport is much like in the real professional sport games, and team owners can draft, trade, or drop players.
The essential defining factor of fantasy sports is the fact that they are scored using results from actual real-life sporting events. Currently, fantasy sports is a multi-billion-dollar industry.
Types of Sports
There is no limits to the types of sports involved in fantasy sports leagues. The concept of game play and fantasy sports betting is much the same, regardless of which type of fantasy sport is played. The most popular types of real-life professional sports adapted to fantasy sport include US football, basketball, soccer, and baseball.
Betting on Fantasy Sports
Even though betting on fantasy sports, like betting on real sports, involves betting on an actual sporting game, the two types of betting could not be more different. This is primarily because real-life traditional sports betting focuses mostly on the outcome of the sporting event, whereas this is not the case in fantasy sports betting.
In fantasy sports betting, the basic principle is that you build a team of players based on certain selection criteria, and then those players will play the games and try and win points for the bettor’s team. Bettors or players can then place real-money wagers with other people who have also put together fantasy sports teams, and winners will be selected according to whose team performs best in a given game.
Even though fantasy sports leagues have been around for a while and are quite commonplace, the actual betting on fantasy sports in a relatively new phenomenon.
How to Bet on Fantasy Sports
There are various ways to bet on fantasy sports games. For example, one way bettors could choose to bet on fantasy sports is to pay to enter a specific league, which will consist of multiple opponents and then take place over a fixed period of time. This could be for only a few rounds of the game or it could last for a whole season, depending on the teams involved in the fantasy sports league.
The owner of the team that scores the most points will win the whole prize pool. It is then up to the owner to decide how much everyone else gets. Sometimes they will get a percentage of the whole prize pool and sometimes smaller prizes will be paid out.