Many people dream of making big bucks betting on sports games. We refer to this as fantasy sports. These games are everywhere and it can be pretty enticing to want to bet on them. So can you actually make money with fantasy sports?
Is There Money In Fantasy Sports? photo by @ryanknapp
It’s Still Gambling
The main problem with fantasy sports is that it’s still gambling. There’s no way to tell how well a team is going to play during any given game or how any one player is going to perform. There can be injuries a bad game or any number of factors that can go against you so you lose the bet and your money quite quickly. The betting can also be quite confusing and if you don’t know what you’re doing, the losses will quickly mount up.
High Knowledge About Sports Mathematics and Statistics Required
One statistic says that 1.5% of people who play fantasy sports actually win. These people usually have math degrees or they have degrees in statistics. These fantasy sports players understand the ins and outs of sports statistics and can tell how well a team is going to do or how poorly they may perform during any given game. Some even develop algorithms to help them understand the games and the odds of winning. These people track player projections as well as all the statistics about the game. SO this shows that if you’re not a mathematical whiz, you’re not going to win anything at all. Even with a high level of knowledge about the game, these sports players probably lose more than they win a great percentage of the time. It takes great skill as well as sheer luck to win it big at these games.
In reality, sports fantasy betting is highly addictive and you could find yourself in a lot of difficulty if you’re not careful. The average person with money to spends should put that cash into something worthwhile like an investment and not spend it on sports fantasy games where your chances of winning is very low. These games can also be considered illegal by some states so you may be doing something that’s against the law. If you play these games the statistics say overwhelmingly that you’re going to lose your money and not win anything at all. You’re really risking your cash by playing these so called “games”. The stats say that 85% of players who take part in these games lose the game and their money.
Best Advice is Not to Play
Sports fantasy games are not worth the financial risk. There’s far too many variables in the games and the chances of you actually making a profit are far too low to be worth your time. You’re going to make more with your money if you put it into something tangible like stocks or some type of savings account. If you’re a math whiz and really understand sports statistics, you may make some cash with fantasy sports. For the rest of us, say away from that type of gambling.