US Fantasy Sports Sites
Daily fantasy sports or “DFS” are fantasy sports competitions that typically only last a day instead of the full length of a season. DFS is now being played by tens of millions of fans annually. The most common sports among daily fantasy users are football and basketball. The core difference between daily fantasy sports and season-long fantasy sports is that DFS is compressed into a day or two as a substitute of picking a roster of players lasting a whole season. Another distinctive attribute of daily fantasy sports is the fact that it is played against several thousands of other contestants, unlike the season-based fantasy leagues that pits accomplices, workmates, or family members against each other.
After choosing a DFS site, users need to fund their account using one of the methods available on that site. PayPal is a preferred method by most users. After the payment has processed and the funds are in the user’s account they are ready to join a tournament and begin drafting their team.
Once a user has joined a tournament, they are given a “budget” that they must not exceed. For example, say they are given a budget of $50,000. The best player in the draft may cost around $12,000 or higher to roster where the worst players in the draft may only cost around $3,000 to roster. Each player available in the draft has a price and user’s draft their players based on a number of strategic factors including; Price, Value, Usage Rate, and other important variables.
Users accumulate points based on certain statistics of their selected players throughout the length of the game. Users track their team’s points and individual player’s stats via a live leaderboard / scoreboard. The higher the user finishes, the larger the prize will be. In Tournament contests, only half or less than half will return a cash prize. In Double-Up contests normally 50% or half of the entrants will win a cash prize. Head to Head matchups also exist where 2 users draft a lineup and go head to head with hopes to double their money by winning. The entry fee and contest type will also have a lot to do with how much can be won. Prizes can vary from as little as $1 to as much as $1,000,000. During the Football, Basketball, and Baseball seasons, it’s not uncommon to see daily tournaments offering a $100,000 first place prize. Entry fees also vary depending on the size of the contest, the type of contest, and the potential prizes.
In the current market, Daily Fantasy Sports are controlled by two major enterprises. Those being DraftKings and FanDuel whose combined market share is greater than 90 percent of the entire industry. Although FanDuel were the pioneers of this sector and held the position of industry leaders up until 2015, DraftKings has gained significant ground over the years and now hold the biggest daily fantasy sports market share. However, other smaller companies also exist in this industry. They include Yahoo Daily Fantasy and FantasyDraft, which compete for the remaining market share.
So what sports are offered by DFS sites? Daily fantasy sports focus on the major sports in North America. These include: Football, Basketball, Baseball, and Hockey.
However, both FanDuel and DraftKings offer additional sports comprising of: College Football, College Basketball, Golf, NASCAR, Soccer, and E-sports.
Is DFS Legal? The legitimacy of DFS is a hot topic in the US. This industry emerged after the Unlawful Internet Gambling Enforcement Act was ratified in 2006. This regulation limits or prohibits payment processing for online gambling purposes. However, it has an exemption for fantasy sports. Arguments have made painting fantasy sports as illegal gambling under state law, while others view it as an activity operating within the gray area of this law. All these issues have led to confusion regarding states that allow and prohibit daily fantasy sports. The jurisdictions in which DFS is outlawed include; Iowa, Arizona, Washington, Montana