Why Is Daily Fantasy Sports (DFS) So Popular?


If you happen to be a U.S. citizen who enjoys watching NFL games, chances are you are familiar with daily fantasy sports companies such as FanDuel and DraftKings. With advertisements airing every few seconds, you may wonder what these advertisements are about and why daily fantasy sports are so popular?

Daily Fantasy Sports is a more intense version of fantasy sports. Unlike regular fantasy sports, which are played with friends and last all season, daily fantasy sports let you play with strangers and only last for a single day. The convenience and lack of commitment in the game make daily fantasy sports so popular. 

Though daily fantasy sports have become popular in the United States, they are still specific to a particular demographic. Daily fantasy sports might seem like a foreign concept if you do not keep up with U.S. sports news. To help you understand the basics of daily fantasy sports, this article will discuss some common questions people have about what DFS is and how it works. 

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Is Daily Fantasy Profitable?

Daily fantasy sports can be very profitable, depending on your knowledge of sports rules and techniques. Daily fantasy sports is a very lucrative business run by two large companies.

There are plenty of people who make a living from participating in daily fantasy sports. To understand how daily fantasy sports are so profitable, we must first understand how they work. 

Daily fantasy sports are digital fantasy sports games. You are given a specific budget called the salary cap. This budget is usually $50,000. You have to create a fantasy team within this budget with different players from the type of sport you are playing. You will earn points depending on how well the players on your teams perform throughout the game. 

People in fantasy sports operators such as Fanduel and DraftKings bet against each other regarding how a certain player will perform.

You earn money based on how well the players in your team perform. You can easily make money with daily fantasy sports if you understand the games well and know each player’s strengths and weaknesses. 

However, losing money is just as easy as earning it in daily fantasy sports. If you don’t have a proper strategy before drafting your team, you will lose money rather than earn it.

So, if you are interested in daily fantasy sports, make sure you have a game plan before entering the virtual floor. Research the teams thoroughly and only start placing bets after fully understanding how things work. 

Aside from playing the game, you can also earn a lot of money by investing in daily fantasy sports. The two main companies that run daily fantasy sports, Fanduel and DraftKings, are billion-dollar companies. Large corporations such as CNN and ESPN have investments and marketing agreements with these companies. 

Daily fantasy sports have a huge audience and are a highly profitable industry. Investing in these companies has proved profitable for many investors. So, aside from playing, you can also earn from daily fantasy sports by investing in the companies that run them. 

How Big Is The Daily Fantasy Sports Market?

The daily fantasy sports market is huge and continues to grow. To put it into perspective, before the pandemic, the daily fantasy sports market reached a value of 8.48 billion U.S. dollars. The industry took a hit in 2020 due to the pandemic, falling 8.4% in 2019. However, the market has grown in 2021 and hopes to get back on track throughout 2022. 

Though the market for daily fantasy sports is specific to a certain audience, this audience is still large in numbers. Additionally, with its mainstream popularity in 2015, more people are showing an interest in daily fantasy sports every day. Research has shown that daily fantasy sports have grown exponentially over the past few years. 

The FSGA, Fantasy Sports and Gambling Association, shows that daily fantasy sports users in the U.S. grew from 32 million in 2010 to 45.9 million in 2019. Understandably, these numbers went down in 2020 due to the pandemic. However, with the virus under control and things returning to normal, the number of daily fantasy sports users is sure to increase again. 

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Is Daily Fantasy Sports Rigged?

There is no evidence showing that daily fantasy sports are rigged. There are certain tactics and strategies people use to win. However, this ultimately falls on the analytical skills of daily fantasy sports players. Since the game’s outcome depends on the players’ skills, there is no substantial argument for the claim that daily fantasy sports are rigged. 

There are also various debates online regarding the legality of daily fantasy sports. Technically, daily fantasy sports are legal. In 2006, the U.S. Congress passed the “Unlawful Internet Gambling Enforcement Act.” This law prohibits any form of online gambling in the U.S. However, the law did make an exception for daily fantasy sports. 

It is necessary to note that in 2006, fantasy sports were just a fun game people played at home or in the office. No one expected the concept of fantasy sports to become the premise of two large billion-dollar companies.

Therefore, fantasy sports fall into a grey area where they are technically legal. However, this technicality is more of an error on Congress’s part rather than actual permission legitimizing the industry. 

Since 2015, daily fantasy sports have become popular in mainstream U.S. culture. Though not everyone is on board with the concept, the market for daily fantasy sports only grows each year. Here are a few reasons why daily fantasy sports are so popular. 

Money

As discussed above, you can make a lot of money from daily fantasy sports if you know what you are doing. North America has a very rich sports culture. With many fans of the NFL and NBA spending months studying players, daily fantasy sports is the best way to put that research to good use. 

Despite being a form of gambling, daily fantasy sports involve a lot of analytic skills. Getting rewarded for these analytical skills is partly why many people participate in daily fantasy sports every year.

Convenience

Daily fantasy sports are also very convenient. Fantasy sports have always been fun in theory. However, committing to a team for an entire season and constantly waiting for results makes the process tiresome. 

Daily fantasy sports remove these issues from fantasy sports. Since the game only lasts a day or week, you don’t have to commit to a team for the entire season. If you don’t like your team today, you can start again from scratch tomorrow. 

Addictive

Daily fantasy sports are also very addicting. Nothing beats the feeling of getting your first win with your fantasy team. Once you’ve had a shot at success, it is difficult to turn away and do anything else. Alternatively, if you don’t win the first time, the game brings out your competitive spirit. 

Much like those money slot machines in Vegas, you become determined to play until you win. This competitive spirit and community feeling with other players keep people coming back for more. As long as sports and competition continue as an essential part of American culture, daily fantasy sports are here to stay. 

Conclusion

I hope this article helped explain how daily fantasy sports work and why people love them. Now that you know the basics, you’ll have the perfect answer for the next time someone asks why daily fantasy sports are so popular? Thank you for reading this article, and have a nice day!

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