So you have decided that you want to earn some extra income by playing Daily Fantasy Sports for real money…
A noble venture, until you dig into your pockets and see that you aren’t as flushed with cash as you want to be.
No worries! We have some daily fantasy sports strategies and tips on how to build a daily fantasy sports bankroll so that you can start to make regular withdrawals and live the lifestyle you deserve.
Let’s start with the most important 1st step…
Get All The FREE Money Being Offered
There are many ways to get FREE money and start your bankroll “on the house” just by joining a new DFS site. Here are what the “Big 3” have to offer:
- FanDuel.com – you can get up to $200 and a FREE entry into a real money contest
- DraftKings.com – you can get a FREE entry into a real money contest
- DraftDay.com – you can get a deposit bonus of up to $250
In other words, scrape together a starting bankroll by joining using the links above and the companies will match your deposit by 100% – doubling up your initial deposit.
Play Freeroll Contests
Even if you are ready to play in real money fantasy leagues, you may as well play in any FREE contests that sites are offering. It costs nothing to play, and if you win, it’s just more money to add to your bankroll.
Play 50/50 Games
Most big daily fantasy players start out grinding it out in 50/50 games. You will not make a ton of money in a short period of time, but you should make a slow and steady profit over the season. You can play a number of games and if you have good skills in fantasy sports, you will be able to add to a bankroll over time. Because the odds of going on a losing streak is rare playing 50/50 games, you can take a shot and play larger $20 – $100 games.
Manage Your Bankroll
Only newbies blow their bankroll in their first week of play! A typical player will only play 5-20% of their bankroll each night, so that even if you get on a cold streak, you will still have enough money to get yourself back on track. If you play just 5%, you will be able to weather the storm longer. If you play 20% of your account, your bankroll will disappear quicker. Never play more than 5% of your total bankroll in a single game. In other words, if your starting bankroll is $500, the max entry fee you should ever play is $25.
Guaranteed Prize Pools Are Tempting…
Guaranteed Prize Pools or GPPs are the big tournaments offered by sites where if you come in 1st, you usually score thousands (or even millions) of dollars. There are some DFS players that only play GPPs and they sometimes make a good living, but you are playing against good competition and only about 20% of the field cashes in. Smart daily fantasy players will only risk 1-10% of their bankroll each night on GPPs knowing that it’s not uncommon to go on stretches of not cashing in for a few days. GPPs are a risky proposition for someone looking to become a DFS player as a profession.
Do What The Pros Do
Guys that play daily fantasy sports for a living will mix and match between 50/50 and GPP games, while playing mostly Head to Head games. Religiously they stick to their bankroll management, so that they can survive any losing streaks. Concentrate on your research on making the best lineups, don’t blow your wad and you too will pocket some good cash playing daily fantasy sports.