Daily Fantasy Sports and sports betting is simple and convenient, thanks to DraftKings and others in the industry. Since sports betting doesn’t seem like too much of a gamble when you know your stuff, it is natural to wonder whether DraftKings is worth it.
There are 9 essential factors to consider when betting with DraftKings, including:
1. Legality in your state
2. User-friendliness
3. Cost to play
4. Type of betting
5. DraftKings rewards program
6. Potential winnings
7. Depositing and withdrawing money
8. Your fantasy sport betting skills
9. Getting addicted
In this article, we’re going to look at each factor to consider before playing DraftKings.
1. Legality In Your State
Not all US states allow you to use DraftKings due to their gambling laws. Federal law sees fantasy sports as a skill game rather than gambling, but DraftKings is still illegal in some states. Some states permit live sports betting, and some only allow non-live.
A few states’ laws only allow sports betting in a retail setting. There are states where online sports betting is legal, but DraftKings isn’t available yet, like in Arkansas. The DraftKings Sportsbook is only available in 20 states, and their online casino is available in 5 states.
The states where DraftKings is illegal to include:
- Hawaii
- Idaho
- Montana
- Nevada
- Washington
- Oregon
2. User-Friendliness
The DraftKings user interface is easy to use and intuitive on all platforms, including the website and sportsbook mobile application. It’s easy to sift through to which sport you want to bet on and the type of bet you want to make, and it doesn’t take any hassle to find what you need.
They highlight the top featuring tournaments, have advanced filters for easy searching, and DraftKings makes it simple to track your tournaments and games live.
Whether you use their web interface or mobile Sportsbook, DraftKings is well-optimized for all devices and has a sleek modern look. You can’t download the app on Google Play or Apple App store, so you must download it through their website.
3. Cost To Play
The apparent factor on whether DraftKings is worth it is how much money you’ll spend to place bets. DraftKings has multiple contest types with their risks and costs.
Guaranteed Prize Pools promise to pay out to the top performers of the large field of bettors. Entry for a prize pool is $500, and you can enter three times. Other games like leagues, 50/50, and multipliers are worth starting with as little as $5. You can base your bets on your confidence level and divide your chance between priced contests.
4. Type Of Betting
DraftKings offers both sports betting and casino games with countless options within each. Sports betting includes PGA, NFL, NBA, MLB, NHL, Soccer, Tennis, F1, eSports, and more.
You can play Daily Fantasy Sports, weekly bets, or for the entire season. You can also bet on specific players if you wish. There are thousands of ways to bet, which leaves you with options that work for your betting skillset.
Their Casino section also offers bountiful options for hours of fun and opportunities to rake in some cash. They have live dealer games like poker or any classic casino game you can think of, from slots to jackpots. They have 810 casino games.
5. DraftKings Rewards Program
DraftKings has a well-rounded rewards program for those who spend plenty of one-on-one time with their interface. These rewards give you something to work toward whether you win or lose your bets. Crowns are player points that allow you to progress through loyalty tiers and will enable you to buy things from a shop and tickets to DraftKings tournaments.
You can earn DK Dollars that help pay contest entrance fees, tickets for a free contest or tournament entry, and hidden rewards that offer surprise bonuses. Although winning bets is the goal, their rewards program offers to soften the blow when you lose.
6. Potential Winnings
Your earning potential might be your number one determining factor on whether DraftKings is worth it. There have been many success stories, but to make massive amounts of money regularly would take watching sports all day, a ton of skill, and capital.
Reports show that 1% of DraftKings players make 90% of the profits, so what does that mean for you?
Your likelihood of winning does depend mainly on your fantasy sports betting skills in predicting and the type of game you play. Keep in mind that DraftKings takes 20% of your winnings.
Your typical well-paying earning potential could mean making $113 out of $10 if you spread your bet into a parlay, but making megabucks isn’t regular or easy.
7. Depositing And Withdrawing Money
Depositing and withdrawing from DraftKings is painless and convenient. You can link your card, bank account, or PayPal. Old-fashioned checks are also available for withdrawal.
Depositing is straightforward, and you shouldn’t face any issues. Withdrawing can take anywhere from one hour to three days, while checks take 7 to 14 days.
8. Your Fantasy Sports Betting Skills
Fantasy sports betting is not for the faint-hearted or the unskilled. You can’t expect to make any money by playing guessing games, as sports betting is considered a skill for a reason.
You’ll want an above-average knowledge of the sport you are betting on and keep track of the news to ensure the bet you place yields a fair-enough accuracy.
Remember that even if you have the most precisely accurate predictions, if you place against other players in your league with a higher bet, you’re likely to earn only a small amount rather than a lot due to the dividends. DraftKings has a unique algorithm per type of bet you make.
9. Getting Addicted
Gambling is risky because it could land you in trouble due to its addictive nature. You may think that sports betting isn’t gambling due to the law not even describing it as such, but the potential of a big win can trick your brain into betting more than you can afford.
Betting on DraftKings is good in moderation, but you’ll need to ensure that you don’t let the prospect of winning leave you without money or your livelihood. Many resources are available to help you if you suspect you’re addicted – and don’t be afraid to talk to your loved ones!
Conclusion
DraftKings is worth it if it is legal in your state and you’re looking for low-cost entry, user-friendliness, a decent rewards program, and simple payment and withdrawals. Although you can win lots of money in DraftKings, it isn’t very likely, and they take 20% of winnings. You’ll have to evaluate your sports betting skillset and your chances of getting addicted before joining DraftKings.