Since 2007, the daily fantasy sports (DFS) concept has continued to soar, with the number of players joining top DFS sites growing. As of 2022, Statista states that there were 50.4 registered fantasy sports players in the US. With such a huge customer base, the question among many is, what are daily fantasy sports?
Our guide explains daily fantasy sports, how they work, and their differences with traditional fantasy sports and sports betting. We will also explain the legal status of DFS and provide a short tutorial on getting started at the best daily fantasy sites. What is daily fantasy sports? Let’s find out!
- 1. Daily Fantasy Sports Explained
- 2. What is Daily Fantasy Sports and How Do They Work?
- 3. Daily Fantasy vs Sports Betting
- 4. Is Daily Fantasy Sports Legal?
- Skill vs Chance
- Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006
- Fantasy sports explained: State law
- 5. Getting Started with Daily Fantasy Sports
- 6. Conclusion: What is Daily Fantasy Sports?
Daily Fantasy Sports Explained
Daily fantasy sports (DFS) are games where competitors build a roster or a dream team of real-life athletes/players to compete against each other in contests ranging from a day to a week. Competitors will earn points based on their players’ performances.
But while they mirror traditional fantasy sports, DFS does not last an entire season but short durations. It explains why you find single-game, single-day, and single-week contests in DFS, with prizes paid out at the end of each contest.
The table below summarizes the differences between DFS and traditional fantasy sports:
| Daily Fantasy Sports | Traditional Fantasy Sports |
|---|---|
| Last for short durations, typically between a day and a week | Last for long durations, typically an entire season |
| A new lineup drafted before each contest | The lineup lasts for an entire season |
| Have a limited pool of players to choose from | Have a larger pool of players to choose from |
| No trades or waivers with the lineup locked after the contests begin | More flexible with trades and waivers available to make lineup changes |
| Have a fixed prize pool for the best performers | Have a variety of prize structures |
| Low entry fees to join contests | Higher entry fees to join the fantasy league |
| Short-term, thus focusing on the best performers over the given time frame | Long-term, thus focusing on the best possible team to last the entire season |
Wondering where to play DFS? Today, you will find several top DFS sites with contests to join and compete for prizes. For example, the DraftKings vs FanDuel battle still extends to DFS, with the two sites leading the way as pioneers in the fantasy concept.
Whatever platform you settle on, you can play fantasy sports like basketball, baseball, hockey, soccer, football, NASCAR, golf, and even fantasy esports. Sleeper and Underdog are other top DFS sites with fantasy sports like football, basketball, hockey, esports and plenty more.
What is Daily Fantasy Sports and How Do They Work?
We have given you the daily fantasy sports definition so the next step is to answer the question: “how does daily fantasy sports work?” It is simple. You choose the sport you prefer and draft your team. To ensure you do not only pick the top-tiered players, you will have a salary cap that your team must remain within. Each sport will have point-earning formats like scoring goals, assists, making runs, and that working with financial constraints is part of the fun.
As you would expect, the better your players perform during the games, the better points you score. Fantasy platforms will not offer fixed odds. Instead, the potential payouts depend on the type of tournaments/contests you join. DFS contests include beginners, single-draft, 50/50, head-to-head, best ball, cash games, GPPs – so there is real variety on offer.
The head-to-head contests, for example, will pit you against another competitor. If you score higher, you take the prize home. GPPs will have higher prize pools, but you will compete against a large pool of players. Once you pick your contest and draft a lineup, the final step is paying an entry fee of as low as $1. Contests may typically last for a day, and once they end, the competitor with the most points takes the biggest prize.
Daily Fantasy vs Sports Betting
There are a few similarities between daily fantasy sports and traditional sports betting. For example, they involve real-life sporting events, with payouts dependent on the results. Other similarities include the following:
- Accessible on same platforms like DraftKings and FanDuel
- Involve real money wagering to win prizes.
- They require an analysis of the different sports, teams, and athletes.
- Playable through online websites or dedicated mobile apps.
However, there are also several differences between DFS and sports betting:
| Daily Fantasy Sports | Traditional Sports Betting |
|---|---|
| Competing against other players | Betting against the house and other players |
| Focus is building a best-performing team to compete | Focus is betting on an outcome of a game or event |
| Earning points based on performances from our team | Winning or losing a bet based on the outcome of a game or event |
| Involve short-term contests lasting a day or a week | Involves an individual match or game |
| Differently structured prizes to award top performers | Have fixed payouts from fixed odds |
| Can play for free (demo) | Only involves real-money wagers |
Is Daily Fantasy Sports Legal?
Regarding legality, we must first answer the question: Is daily fantasy sports gambling? While DFS is a form of gambling since it involves wagering of money, DFS is distinct in how the gambling laws view it in the US industry. Let’s dive a bit deeper:
Skill vs Chance
There are so many fantasy sports example, but it first boils down to whether DFS are games of skill or chance. DFS proponents argue they are games of skill like chess or bowling leagues since competitors require knowledge of the sport or player skills. Companies like FanDuel and DraftKings have classified them as skill-based games, making them different from chance-based sports gambling. In doing so, they avoid the use of fixed odds in DFS. It is, therefore, worth reading up on our DraftKings review to see the full range of what is offered.
Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006
Despite DFS’s existence since 2007, the federal law of 2006 exempts DFS since it has outcomes dependent on the participant’s knowledge and is derived from accumulated statistical results. Therefore, DFS does not fall under the same principles as regular sports betting, which are bound by the act.
Fantasy sports explained: State law
There is also the question of states. DFS legality is regulated state-by-state, just like sports betting and casino gambling. As such, some states legalize DFS within their jurisdictions, while others restrict their operations. But it boils down to a specific operator. For example, DraftKings lists 44 DFS legal states except for Idaho, Hawaii, Montana, Nevada, Oregon, and Washington.
Getting Started with Daily Fantasy Sports
New to DFS? Here is a step-by-step guide on getting started at DFS sites like Underdog or Sleeper:
- Choose a reputable DFS platform: There are many DFS sites, but few match industry leaders like DraftKings and FanDuel. When choosing a reputable platform, check for details like sports and contests, entry fees, duration, skill level, and prize structures. Our FanDuel review can help provide such information and help you find fantasy sports examples.
- Sign up and fund your account: Once you identify your preferred platform, create an account by providing accurate information and deposit funds into your account.
- Pick a contest: There will be hundreds of contests you can join. Pick one from the lobby. A tip for a beginner is picking the ones with a small entry fee or those allowing you to enter for free.
- Draft your team: The next step is to draft a team that falls within the salary cap.
- Sit back and watch your team: The last step is catching the action to see your team rack up points, with the platforms updating the leaderboards automatically. You will receive prizes if your points qualify for one once the contests/tournaments end.
Conclusion: What is Daily Fantasy Sports?
If you are a sports betting fan looking for more thrill, DFS is the way to go. We have covered the daily fantasy sports definition and shown that they go deeper than picking an outcome, but a lineup of players and claiming prizes depending on their real-life performances. At EsportsBet, we ensure that your experience is fun at reputable platforms, where, in addition to sports, you can play fantasy esports and enjoy top offers and features. Ready to try for yourself? Why not head to DraftKings or one of our other recommended platforms?
