Daily fantasy sports have become popular for one reason and one reason only. People are sick and tired of waiting the entire sports season to collect their winnings. People are impatient and its showing. I remember when the online poker industry was at this level and rising because you could make money just as quick.
What are daily fantasy sports?
It is a contest much like your season long fantasy contests. However, these contests only last a day, two days, or sometimes even a week.
Why is it becoming as popular as it is?
Everyone in the world today is looking for fast cash. They want to make as much as they can as fast as they can with as little effort as they can. In some cases this industry provides that very thing. I have seen people that know very little about basketball throw a random roster in for a single night and come out thousands of dollars ahead. However, these contests tend to favor the people with the most knowledge about that particular sport in the long run.
There are thousands of people that are figuring out that they can make a living playing in these contests as long as they stay focused and do their research. Create and edge on your competition and then exploit it. I firmly believe that it becomes an addiction. The want and need to be better than everyone else. A skill game that can make you money.
How Do You Play?
The first thing you need to do before you can play daily fantasy sports is become a member of a website that provides these types of contests. Once you are a member you can deposit money into your account. You can then use that money to enter tournaments as well as many other types of games.
All of the major sports are featured. You can also find some of the lesser known sports featured on some of the smaller sites. I think I have even seen fantasy bowling out there somewhere.
The type of game depends on your liking. The most popular is the salary cap game. In this game you are given a certain amount of money and you need to fill out a roster of players without spending over your limit. The player's price usually depends on his or her skill level. The player with the roster that produces the most points at the end of the night wins. There are also other games like head to heads and 50 / 50's where you only have to beat half of your competition to double your money. Anyone that is serious about making a career out of this industry will live and die on head to heads and 50 / 50's.
Is It Legal?
Online poker was a massive hit in the United States but was shut down over night due to violation of gambling laws. However, fantasy sports is considered a game of skill and received a specific exemption from the 2006 Unlawful Internet Gambling Enforcement Act (UIGEA 2006). The daily sites use the same guidelines as the season long games ran by ESPN, Yahoo, and many others. The only difference is that daily fantasy sports only lasts a day not an entire season. Making it completely legal.