100 Fantasy Football Tips in 100 Days, Day 91: The Rise of Daily Fantasy
I’ve been traveling recently, so this series has quickly turned into “100 Tips in 102 Days.” In any event, today’s sample comes from my book on daily fantasy football. It’s a few tips on money management.
The 10 Laws of Money Management
If you want to play weekly fantasy football—and you want to play it for more than a few weeks before going bankrupt—you absolutely must have a sound financial plan. It doesn’t have to be complex, but if you’re consistently placing 11 percent of your total bankroll on each matchup, you’re going to lose your money.
Law No. 1: You will not believe in “sure things.”
Weekly fantasy football is a game ruled by probability. You might be a quality owner—say, a 60 percent long-term winner in head-to-head leagues—and you’ll still lose all of your money if you’re playing as if you’re an 80 percent long-term winner. There are no sure things, and you have to understand the percentages in order to profit from weekly fantasy football.
Law No. 2: You will not wager more than you can afford to lose.
Your bankroll is the total amount of money you’re willing to lose. If you place $1,000 into an account but plan to remove the money if you dip down below $500, your bet sizes—based on a $1,000 bankroll—will be too large in relation to your actual bankroll of $500.
- More Strategy & Analysis. Daily fantasy football expert, Jonathan Bales, recently said “Daily fantasy football strategy, too, has game theory as a cornerstone. You absolutely must consider others’ actions when selecting your lineups.” At scoutPRO®, we agree with Jonathan, which is why we’re developing tools that leverage our signature, patented data for daily game players. Our past research shows that seasonal fantasy players want more accurate predictions and analysis, so its not surprising that daily players are seeking this same level of analysis to help them win prize pools, etc.