When my buddy Dave said he was dedicating 15% of his betting bankroll this season to “Daily Fantasy Betting” I have to say I was intrigued. I’d heard of Daily Fantasy Betting, but aside from a cursory surf on a few sites, I really didn’t know much about it.
So it was back to the computer to dig a little deeper. I’m very familiar with fantasy sports, having been a “lifer” when it comes to the usual fantasy leagues (2011 National Goofball League Fantasy Champion….ahem….just saying)
A quick Google search served up about a dozen sites that catered to the daily fantasy betting enthusiast. The three sites I ended up checking out were Draftstreet.com, FanDuel.com and FantasyFeud.com.
After a few minutes perusing each site I could see why Fantasy Betting had caught Dave’s attention. Take that “end-of-the-season glory” all fantasy players shoot for and compress the experience into a single day. Add in the basic “risk-reward” element all sports bettors seek and what’s not to like?
It’s as simple as putting up your money, building the best fantasy team you can for that day and if you top the rankings after the final whistle, it’s payday.
So how is this legal? Remember the UIGEA law that knocked online gaming for a loop back in the Fall of 2006 (if you don’t Google it)? There was a specific carve out for fantasy sports, which opened the door for this exact model. It’s taken a while for entrepreneurs to move into the Daily Fantasy Betting space with any real focus, but now that the first movers have established themselves, it looks like the flood gates have opened.
No surprise when you consider Fantasy Sports is creeping ever closer to being a $1 Billion a year industry.
In the next few weeks we’ll be doing some reviews of the different sites that offer this type of option. Stay tuned.