What Is Daily Fantasy Sports Betting and How Is It Looking in the US?

Overview of a popular program...

Professional sports is a billion-dollar business, and folks are always creating new and innovative ways to cash on it’s worth. The latest and most thoughtful way now is daily fantasy sports.

A fantasy sport is a game where contestants bring together imaginary teams using real players of the various professional sports team. For instance, assume you’re drafting an NFL team. You’d put together a team comprising a wider receiver from Atlanta, a quarterback from Philly, a running back from Oakland, and more.

All participants in the league do the same before your teams clash. To decide the winner, points are allocated to each action. Once the game comes to an end, you cumulate all your players’ points. The team with the highest score wins.

Unlike traditional fantasy sports, which typically run through an entire season, daily fantasy doesn’t last the full season. It ends in a day. Further, conventional fantasy sports often focus on gaming year after year in league with your buddies.  This is different from daily fantasy sports where participants often play online with indiscriminate players you’re matched up against.

Plus, there’s the money pouring in. Daily fantasy sports (or DFS) betting on certified sites can consist of hundreds of thousands of participants, each forfeiting a few dollars to enter. To mean, the winner may end up taking home millions of dollars in prizes. But first, it starts with finding a legal daily sports site.

Staking real-world money on daily fantasy sports can stimulate an unprecedented rush, which is a problem because DFS isn’t available in all states in states. To help you with this, take a closer look at this table showing DFS provider and states.

When playing daily fantasy sports, 2 categories stick out: ‘Guaranteed Prize Tools’ and ‘Cash Games.’ In cash games, in case you are in first 50% of the contestants, you could win up to twice your entry fee.

Into the bargain, there’s an argument that fantasy sports betting isn’t taking a significant risk like betting on horse or a squad that will win a contest. Instead, it’s rightfully deemed a “game of skill.”

Fantasy sports betting has been around for quite long — longer than you might imagine. The first-ever baseball league was created in 1980 by Sportswriter Daniel Okrent.  The concept spiraled through the nineties when “USA Today” commissioned a weekly column devoted to the subject. In 1999, the Fantasy Sports Trade was established. The following years, this idea spread relatively fast.

Note that laws surrounding daily sports betting are unreservedly vague. Meaning, because a betting site operates in a distinct state doesn’t guarantee that sports betting is fully legal there. On the same note, some states only allow non-cash competitions for points.

All said and done, the Federal Unlawful Internet Gambling And Enforcement Act (UIGEA) takes no position on the legality of daily sports betting. Meaning any state can decide to ban or permit DFS, as well as make up its list of legal and illegal types.

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