So, you aren’t the gambling type, but you love the numbers of football. So you don’t have a lot of cash but you want to feel the shot of adrenaline when a player you “own” performs well on the field. Your future in fantasy sports is here…..
With a recent infusion of 70 million dollars in start-up cash and a clientele that is growing by the minute, FanDuel.com is a fantasy sports fans’ dream. It is a daily fantasy sports league where you pick players on a daily or weekly basis for the chance to win money.
Is this gambling ? No, regulators consider fantasy sports games of skill and therefore do not fall under gambling prohibitions. Regulators have said fantasy sports involving real money, are games of skill. The belief is the user has knowledge of professional athletes and statistics. When you open an account you deposit money using your credit or bank card and then you are off and running.
The baseball team I have selected for Thursday night’s match-up
If you love fantasy sports you are probably already in a season long league. A league in which you draft a team at the beginning of the year and make moves as your team’s general manager. It is fun and adds excitement to Sunday afternoon football. With these daily leagues you can pick a different team every week.
This daily fantasy sports league allows you to pick players to assemble a daily team. The caveat is that you can’t go over a pre-determined salary cap, so you can not stack your team with stars at every position. You must mix-and-match, assembling your team under that cap. The goal, to try to beat hundreds, sometimes even thousands of other players. You can enter a daily fantasy league for as little as 1 dollar or for as much as 200 dollars per night. Everyday people are using their knowledge sports and match-ups to rake in thousands of dollars taking on other fantasy enthusiasts.
I know what you are saying, what’s the catch ? As far as I can see there is none. NBC Sports along with private equity firm KKR and Shamrock Capital helped Fan Duel raise 70 million dollars. Fan Duel makes money by taking a small cut from each event they host. They host hundreds of events on a nightly basis. This is profitable and will only become more popular as men, especially young men become obsessed with their fantasy teams.
Fan Duel CEO Nigel Eccles said in an interview that his company is poised for growth and made a profit in the 4th quarter of 2013. While Fan Duel might be a prime target for a big media corporation, Eccles says the plan is to keep growing and eventually go public with an IPO in two to three years.
Sports fans can play daily leagues in NFL football, NBA basketball, MLB baseball, NHL hockey, and college basketball and college football. With the start of the NFL season tonight Fan Duel has hundreds of options for the fantasy enthusiast with the chance of winning hundreds or even thousands of dollars for a one dollar investment.
I look at it this way. I can go to the liquor store and pick five numbers and try to win the lottery. Or, I can use my obsessive knowledge of sports, critically analyze computer spread-sheets, look at match-ups and try to out-wit other sports nerds like myself.
I need to go now. It’s almost time for kick-off and I need to see if I can squeeze Jordy Nelson under the salary cap for my Week 1 FanDuel.com squad.