Are you a fantasy sports player? Or are you more interested in trying to profit from betting on sports? Let’s learn a bit about each industry with a short overview to follow.
Fantasy Sports, usually played online, is a game where a group of individuals form a league of teams by drafting real players from a professional sports organization, with the NFL among the most popular.
Through a set schedule, teams matchup up against each other every week and compete with points coming from statistical performances of the players on their roster.
The industry has generated about $335 million in revenue last year alone, a slight increase from $332 million the year prior.
Three of the most known and recognized fantasy platforms are Yahoo Sports, DraftKings and FanDuel, with the last two also breaking into the legal sports betting market in the United States, specifically starting in New Jersey.
Betting on sports is much different than Fantasy, as you are wagering on an unpredicted outcome of a real and live event.
However, like Fantasy Sports, the NFL is the number one and most attractive for gambling enthusiasts looking to wager at top rated sportsbooks in the industry.
Some estimate that $400 billion is wagered illegally ever year on sports. New Jersey just shy of its first six month taking action has reported nearly $1 billion in bets.
Offshore operators with impeccable reputations like Bookmaker and 5Dimes are still industry leaders and continues to boom, even with the legalization of across America.
Fantasy Sports always seemed more acceptable while sports betting was considered t taboo, but the reality is when money is at stake – it’s gambling; and now that DraftKings and FanDuel carved out a piece of the pie, it should point too and make people notice where the real money is to be made all along.
Betting on sports has come full circle, and even the leagues are onboard now that they are getting a cut of the action.
The NBA has already struck a deal with MGM Resorts, a multi-year partnership, that includes data and branding as the sports betting landscape continues to evolve.
The NBA will promote MGM Resorts across all its properties, including NBA TV, the NBA App, NBA.com and social media.