The web’s accessibility has taken fantasy sports to a new level and allowed them to reach a vast audience. Today, fantasy sports are a popular type of gambling which is featured on many various platforms. Let’s take a look at fantasy sports and the characteristics that make them so appealing to players all over the world.
What are fantasy sports?
Fantasy sports are simulations of actual sporting events where participants create imaginary teams made up of real-life players. For example, players can choose famous members of different football teams and unite them all in one imaginary team. Their skills and performance, as well as the goals scored in real life, are reflected in virtual reality, meaning that if the actual player scores a goal, the point goes to the fantasy team he belongs to.
Types of fantasy sports and outcomes of events
Fantasy sports games can be roughly divided into several categories:
- By discipline: football, baseball, or any other game that interests the participants of a tournament;
- By duration: fantasy sports can be played daily or across an entire season;
- By reward: a game can be played for fun or for real money.
Fantasy sports are games of skill, meaning that their outcome does not depend on an RNG like it does in virtual sports. Athletes’ performance, abilities, strategies, and history influence the outcome of the event, so players use their analytical skills to predict the result rather than relying on an RNG.
Fantasy sports tournaments
There are several main types of fantasy sports contests:
- Big Tournaments. These have large player fields and guarantee big prizes.
- Head-to-head Tournaments. H2H tournaments are created for two fantasy players to compete against each other. These are mainly intended for experienced players, not beginners.
- Double Up Games or 50/50. These tournaments are great for beginners, as they distribute the prize pool among the top half of the playing field. They feature many entrants, and the top 50% of them win money.
- Triple, 4x, and 5x Contests. Taking 3x contests as an example, there are 30 entrants who pay a $10 entrance fee, creating a total of $300. After a website takes a commission of 10%, the prize pool of $270 is created, meaning that the top 10 entrants (one third) will each win $27.
Betting on fantasy sports
Betting on fantasy sports differs from other kinds of sports betting, as you create your own fantasy team instead of betting on an existing one. The result and the amount of money players win are determined by the type of tournament chosen - it can be a share of the prize pool or higher prizes in the case of H2H tournaments.
Fantasy sports betting is legal in most countries as it is often not considered gambling. For example, countries like the US and Canada allow the playing of daily fantasy sports for money, as they are considered a game of skill.