100 Fantasy Football Tips in 100 Days, Day 10: Bankroll Management in Daily Fantasy
The first chapter in my new book Fantasy Football for Smart People: How to Cash in on the Future of the Game deals solely with money management in weekly fantasy football. I think it’s an essential part of winning long-term.
Every season, I pick the winner and score of every NFL game. Over the past three seasons, I’ve compiled a record of 510-257-1 straight up, 405-337-26 against the spread, and 402-349-17 on totals. If you placed $1,100 on every game using my recommendations, you would have won $52,400.
Of course, that assumes you have an unlimited (or very high) bankroll. Though I’ve demonstrated a decent long-term winning percentage on NFL bets, I go through losing streaks like everyone else. Actually, although I finished the 2012 season with a 135-114-7 record against the spread, I began the season horrendously. I was 4-12 after Week 1 and 8-23-1 after Week 2. Through Week 6, I was barely staying afloat at 36-53. It wasn’t until after Week 13 that I even hit .500 on the season! It took a ridiculous 52-26-1 record over the final five weeks of the season for me to even approach my long-term winning percentage.
The point is that no matter how much you know football, placing an exorbitantly high percentage of your bankroll on each wager simply can’t be sustained. When the difference between a professional bettor and a coin flip is often just five percentage points, the most important aspect of profiting from betting—or weekly fantasy football—is effective money management.