Sports betting is one of the most lucrative and entertaining forms of gambling. However, fantasy sports betting is by far the fastest-growing type of sports betting. It has a relatively low barrier to entry, but to succeed you need to be well-versed in the rules and strategies.
In basic terms, fantasy sports betting is a form of sports betting where, instead of placing a wager on the outcome of a sports event, you create a virtual team by drafting real players of a particular sport, and your team competes with virtual teams created by other participants.
To start betting and competing with other contestants, you would enter a contest or league online by signing up and making a deposit for a usually small stake, then you will draft your virtual team. There are three types of leagues in which you may compete, and each has its own payout criteria.
A head to head league means you're competing with one other contestant only, but to win in a 50/50 league, you need to be among the top-performing half of the league. GPP leagues on the other hand, allow you to compete with every single participant in the league, for a guaranteed prize pool.
Head to head and 50/50 leagues are cash games. In a 50/50 league, the best half of the league win double their buy-in and the same applies to the head to head contest.
GPP payouts are slightly different because they usually involve a guaranteed prize pool. Typically the top participant will receive 70% of the prize, the runner up 40% and so forth.
The league wouldn't be fair or interesting if everyone could pick the best players of a particular sport. To combat this, you will need to ''buy'' your players, but you're also given a salary cap. This means that you need to fill all positions in your team, but you may not exceed the limit of your salary cap.
Some leagues allow you to pick a player that's already been picked by other participants, but others don't. However, once you've selected your players and the contest has begun, you may not switch or trade players.
Your players' performance in an active game determines the points you score. For example, in American football, you may score a certain amount of points for every touchdown, but you will not score the same amount of points for an interception. The weighting of points depends on the game in particular and the type of league.
Perhaps the most compelling reason to participate in fantasy sports betting is the fact that you could potentially win a generous price from a relatively small buy-in stake. In addition, seasons are usually shorter, so you'd expect faster payouts.
You should keep in mind that to increase your chances of success, you should be smart about your strategy. A rule of thumb is to not overspend on any particular player. For other fun gambling tips, look around our website.