swaggerdad Tech Tuesday!
What up fella’s , I know most of you guy have a fantasy team? c’mon who don’t? well today post is for this who dad’s who want to make some extra cash while watching the game. Don’t get it twisted making money from fantasy sports isn’t easy. The players that make thousands from it generally treat it as a career. Not all of us are prepared to take it that seriously – however many of us would still like to earn a little something from fantasy sports. Below are just a few tips on how you can turn fantasy sports into a small side hustle.
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Finding the right site
If you’re a beginner, you probably don’t want to be signing up to the big DFS sites. Not only are these sites more expensive, but they’re also where all the experienced players are (as a new player you won’t stand much of a chance). The lesser-known DFS sites are a great place to learn the ropes. You’ll be playing against players of a similar skill level and spending less money in the process. Winnings are smaller on these sites – you may only make a few dollars extra, but it’s still something. From here, you can then build up your confidence to then take on the bigger leagues on the bigger sites.
Getting the right intel
While there’s a lot of luck involved in fantasy sports, there’s also a certain degree of skill. It pays to have a deep knowledge of the sport and the stats of each player. This is information that is likely to be constantly changing so it’s worth doing your research. There are sites that are dedicated to daily fantasy sports picks. Use these sites to give you a good idea of the best players and best setups.
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Factoring in entry fees
Bigger prizes generally come with bigger buy-ins. Only spend as much as you’re willing to lose. As a beginner, you probably don’t want to be paying huge entry fees – these are the fantasy leagues where you’re going to be up against the pros and there’s little chance you’ll win as a beginner.
Managing one’s bankroll
If you want to make money from fantasy sports, you need to have a spending strategy. Keep a monthly and weekly cap on spending. A general rule of thumb for beginners is to not spend more than 10% of your bankroll on any given competition (at least not until you build up your skill). Record your wins and record your losses and learn from these figures.
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Taking risks
There’s an element of gambling involved in fantasy sports. This is because sports, by nature, is unpredictable. For this reason, the most proficient players don’t just build teams out of superstars. Sometimes they’ll throw in a few athletes that haven’t been playing so well in the hope that they’re about to find their stride. Of course, you can sometimes take calculated risks. For instance, many experienced players analyse the dynamics between athletes in a team – if two athletes perform well together on average, it can sometimes be worth having them both. These two athletes may not individually have the best stats, but together they could turn out to be the secret weapon that you need.
Post contribute by Dee Tyler
Cover Photo by Jen Theodore on Unsplash
