Fantasy football is an online virtual reality game where participants assemble an imaginary team of real players typically from the American Football league, and the NFL (National Football League), and compete against other players. Points are then awarded based on the actual performance of real players in real competitions. Many sports fans nowadays play fantasy football for money.
How to Make Money Playing Fantasy Football?
There are mainly two ways how anyone can play fantasy football for money, either by organizing contests or joining ongoing contests. When organizing contests, the platform owner charges a commission or an administrative fee and recruits other players to join their fantasy league.
Joining contests can either be free or charged a small fee, however at the end of the league, the player that has amassed the most points is the winner and is rewarded with cash. Within these contest leagues, there are also daily, weekly and tournament competitions where winners can earn cash.
Where to Start?
To get started, it is crucial to know that fantasy football is more a game of skill than chance. It requires a lot of research in real players’ positions and statistics, the use of predictive models and utilising mathematical formulas.
Top Five Trusted Websites to Play Fantasy Football For Money
There are several sites to earn money playing fantasy football. The following are the 5 best-trusted sites;
- FanDuel
- DraftKings
- Fantasy Draft
- Fantasy Score
- Yahoo Fantasy Football
FanDuel
Fanduel is one of the largest sites that are well known for fantasy football. The platform is user-friendly and is especially good for beginners as there are training materials and ample contests. You can join for only $1 for a non-free contest and buy-ins for contests range from free to $ 10,000.
DraftKings
DraftKings is also one of the largest platforms for fantasy football. It has a user-friendly interface and many exciting contests for players. It offers three main bonuses;
- Free entry to a Paid Game; when an account is registered
- First-time deposit Bonus; a bonus equivalent to the initial deposit
- Refer-a-friend Bonus; earn a commission off revenue generated by referral
FantasyDraft
FantasyDraft is an upcoming website that is gaining popularity. It has a great referral program where you earn a commission anytime a referral plays and in turn, any other referral that joins under your referral up to the 6th person. It also has one of the best pay-out zones among other online sites.
FantasyScore
Fantasyscore.com is another useful online fantasy football site to make money. It is one of the trusted sites and is backed by major U.S sports powerhouses.
Yahoo Fantasy Football
Yahoo Fantasy Football is a good option for players who wish to compete online with other random players. Users can play for free or enter a paid league for an opportunity to win cash pay-outs. The site enables users to easily send feedback on ways to improve the platform.
Tips to Succeed and Make More Money
The following tips will boost the chances to earn higher points, win and make more money;
- Maximise the use of social media channels such as Twitter to keep abreast of the latest team and players’ information to update your team.
- Seek help and advice from fantasy football experts
- Don’t concentrate on popular players
- Separate your allegiance to the real team you support with your fantasy team
- Always check the news on player injuries
- Make use of technology and predictive models
- Join fantasy football league forums like footballguys.com
- Start small and grow as you become more experienced
- Register to receive team and players’ news notifications
- Ensure you have drafted a backup for your top players
Legal Issues to Consider
There are some U.S states where fantasy football is illegal like Washington, Arizona, Arkansas, Iowa, Tennessee, Louisiana, Montana and Iowa. It is important, therefore, to check with the country, state or local laws on fantasy football.
Taxes should be paid on net income gained on winnings, as guided by the tax regulations of the local area. Any earning above $600 per annum should be declared as miscellaneous income. Good research on the applicable laws should be considered to avoid legal issues coming up later.
Conclusion
In conclusion, anyone can play fantasy football to make money as a secondary source of income. The major succeeding factors are in-depth research and a deep understanding of the game dynamics and players’ statistics. Overall, fantasy football should be enjoyed as a hobby first, then it becomes more fun when you can earn a profit from it.
Frequently Asked Questions
- How can I play fantasy football for money?
You can either organise your contests and invite other players and receive administration fees and also earn when your team wins or either join contests where the winner receives winnings in cash.
- Which websites offer a chance to play fantasy football?
Any of the following websites are recommended, FanDuel, DraftKings, FantasyDraft, FantasyScore or Yahoo Fantasy Football
- How do I receive my earnings from fantasy football?
Most platforms either send player earnings through check by mail or transfer through online payment platforms like PayPal
- Am I required to pay tax on my earnings?
Yes. The law requires one to declare as income any winnings over $600 per year.
