When you think about making money on sports it usually has you imagining betting with a sports bookie or on a gambling website. Well, although that is a way that you can try to make money, a better idea is to play fantasy sports. Even though football gets all the attention, playing fantasy basketball is also a lot of fun and can make you money.
In fact, it may even be easier to win money playing NBA fantasy over football since there is likely to be less competition. It’s also a lot more fun since you have a lot of action happening at the same time and not just resting your fortune on one game. In this article, we will go over the best ways that you can make money by playing fantasy basketball.
1 – Pick the right format
There are a few different ways to play fantasy sports but the two essentials are that you can play a season-long league or a one-day league called DFS or Daily Fantasy Sports. The first option is fairly obvious in that you do your draft before the season starts and you go through the entire NBA season before a winner is crowned.
The DFS is a league in which you draft your players, set your roster and the league finishes with a winner by the end of the day when the last game is played. This is the best way to make money throughout the season. As long as you have a solid draft strategy and use NBA DFS projections instead of season-long projections. The drafting strategy is different since it involves understanding the matchups rather than just individual stats.
Doing a season-long league can usually make you more money but it is more difficult to win since there is a long time commitment. With either scenario, you do have to be willing to put the time in to make sure that you are making the right moves. Drafting is important and having a solid understanding of the best strategies takes a lot of patience.
2 – Run it yourself
There is another way to make money from fantasy basketball that is guaranteed no matter what place you come in for the season. Every league needs a commissioner to run it. Leagues that have good commissioners are more organized and much more pleasant to play than those without. It takes a lot of time out of your week to be commissioner, so you do get some compensation out of it.
Every team owner pays a fee to play with most of the money going toward the prizes for the winners. However, the commissioner takes a small cut out of the money to keep as payment for the responsibility of running the league. It isn’t a lot of money, usually, but it does give you some extra cash to make it worth it. Not only that but you’ll also play the season for free.
