Why crypto fantasy sports are totally worth your time
Fantasy sportsbooks have gone from fly by night niche to a multi-billion-dollar global business. Its most recent venture involves crypto fantasy sports designed for utmost convenience. Is it worth a try?
For a while now, fantasy sportsbooks have become an important facet in the world of online gaming and as the industry continues to expand, the incorporation of new technology has expanded to cryptocurrencies.
So, what does it really mean to play fantasy sports with cryptocurrency? Let’s look into it.
All you need to know about fantasy sports
When you think about fantasy sports, you’re more likely to associate it with the age of online. However, it’s been around since the 1980s. Sportswriter Daniel Okrent invented the first fantasy league and the rest is history.
Brief background of fantasy sports
By 1999, an official organisation was formed in America. It was named the Fantasy Sports & Gaming Association (FSGA). From here, fantasy sports grew into a well-known industry in mainstream America and the world as a whole.
In 2003, the FSGA made a survey and found that 15 million people were playing fantasy football. It was apparent how much of a huge industry it was starting to become.
By 2013, it was estimated that 21 million people played fantasy sports. Fantasy leagues started to offer all sorts of sports, including esports.
Fantasy sports today
Nowadays, millions of people play fantasy sports. Its market is expected to grow by $9.34 billion from 2020 to 2024 worldwide.
The United States is seen to be the most active with their preference ranging from fantasy baseball to gridiron football. On the other hand, Europe is also experiencing a surge of fantasy sports players.
According to data gathered by the Russian Association of Game Business Development, there are about 5 to 6 million fantasy sports players who are keen on seasonal fantasy sports in Europe. Association football is the most popular fantasy sport in the region with the Fantasy Premier League getting more or less 3.6 million player registrations in most seasons.
In Canada and the United Kingdom, fantasy hockey and association football are the most prevalent games, respectively. Other fantasy sports that are widespread across the world include tennis, cricket, and Australian rules football.
Major sports media outlets such as ESPN, Yahoo Sports, Fox Sports and other specialised websites host a wide variety of fantasy sports. They offer free and paid leagues that yield payouts and prizes if a participant wins.
Esports have highly anticipated events such as the Fortnite World Cup, League of Legends World Championship, BlizzCon 2020, and Capcom Cup. These events are mostly hosted every year, so gamers and spectators alike look forward to them.
Why play fantasy sports?
Fantasy sports are a great leisure activity when you’re dragged into season-long events. They’re fast, convenient and allow people to have a great deal of freedom. You can play anywhere and anytime you want, so what’s not to like?
It also makes sports more interesting than it already is. You also get to practice a more objective and keen perspective when you follow a league. It broadens your knowledge outside of your favourite sports team and even boosts your research and data-related skills.
All the while, you build camaraderie and relationship with other players. Of course, what’s possibly the best thing about fantasy sports is the money in it. At best, you get to walk out with a decent amount of money after enjoying a game!
Trends in the industry
Fantasy sportsbooks have seen trends such as the use of fantasy sports for brand promotion. There have been a lot of giant brands that focus on using fantasy leagues to market their products.
These promotions such as the purchase of ad space, creation of hubs for exclusive access to analysts, and contests for hub members target high-income customers ranging from 25 to 50 years old. This is expected to grow well over the next few years and promote market growth.
There is also an influx of various apps for fantasy sports that further boost its popularity. The most recent course for the industry lies in crypto fantasy sports.
Crypto Fantasy Sports is the Future
Crypto fantasy sports have the very real potential to see in the future of the iGaming industry.
Over time, crypto has grown and penetrated different industries. The gaming industry is an example of a market where crypto is actively included. In this industry, the venture into crypto fantasy sports continues to spread.
Is cryptocurrency necessary?
Due to its market and trends, crypto has a genuine application that will stand the test of time. This means it is well on its way to establishing itself into fantasy sportsbooks for good. It’s just a matter of time, so you might as well give it a try. We guarantee you’ll be pleasantly surprised.
Aside from the fresh and new takes on the old format of fantasy sports, crypto fantasy sports is also a great tool for those looking to learn more about the digital coin.
Why play crypto fantasy sports?
With crypto fantasy sports, you benefit from the same edge these digital assets have over fiat money.
One of its benefits includes fast and easy withdrawal with lower fees. Moreover, it offers transparency, visibility, and security. Crypto fantasy sports eliminate the scandals of trust and make it impossible for the platforms to carry out fraudulent activities. It speeds up the automation process in order to further eliminate tampering on the platform.
What’s more, service fees are reduced based on the removal of third-party involvement. This leads to larger prize pools and better odds that subsequently increase player participation.
Winning strategies for crypto fantasy sports
Crypto fantasy sports are a lot like the traditional game. Therefore, the strategies are pretty much aligned with the established basics in winning at fantasy sportsbooks.
Understanding crypto fantasy sports contests
First of all, you will have to understand the different contests in crypto fantasy sports. There are cash games that consist of the 50/50 contest and head-to-head contest, as well as tournaments.
Some people opt to take part in many small games (that yield small wins) while other players prefer contests with fewer wins and more losses since this means a bigger cash prize. You will have to weigh up what you are willing to risk when you choose a contest to participate in.
Just like in any other betting games, you will have to be aware of your bankroll management. Do not put too much on the line and on any lineup exclusively. The same applies to single contests.
You need to keep an eye on your bankroll management because the more you risk, the greater your chances of losing. Managing and restricting your wagering amounts keeps the gaming experience fun.
Following trends and tracking your own statistics
Becoming a better player in crypto fantasy sports includes going with the trends and changing your habits accordingly.
One of the simplest ways to grow as a player is by keeping accounts of your own results. Tracking your statistics will dramatically improve your game.
The key to getting profit out of crypto fantasy sports is by making educated forecasts based on sound research. When you win, you’ll start to gain confidence that your theories are accurate. If you want to be certain, keeping tabs is a sound way to do this.
Trends can also have an effect on your winning percentages and profitability. An example of this is overlay. Overlays occur when there is more money in the prizepool than the amount generated by the participants. Tournaments with entrenched prize pools do not always get filled up.
Platforms count on a certain number of players to enter the tournament. However, when there are too few players entering the contest, the platform is legally obligated to cover the difference.
Crypto fantasy sports are all about data and statistics, so be sure to always keep track of everything!
Words by: Maria Ramos