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Managing your Daily Fantasy budget is the same as looking after your bank balance in real life: you wouldn’t spend 80% of all of your money on a flashy car or fancy holiday, would you?
Of course not. As smart folks, we live our lives in moderation. And that should be your approach to managing your Daily Fantasy budget too; a slow building effect by accumulating cash prizes until you have the kind of bankroll that allows you to be a little more cosmopolitan with your money.
So how can DFS managers accumulate cash in order to build a healthy bankroll to play with?
Slowly but surely is the best way to manage your bank balance when it comes to Daily Fantasy. You might look at the contests with their huge jackpot payouts and think ‘wow, yes please!’, but ill-discipline – especially as a newcomer to DFS betting – will see your initial deposit disappear quicker than you can say ‘damn, this fantasy sports thing is hard!’.
You have to play the percentages, so think about it like this: in cash-rich contests, you could be playing against 20,000 or more fellow DFS managers. If you participate in a head-to-head contest, then you only have one other player to beat.
As such, you can win a head-to-head with an underperforming team, but not win a penny from a major contest even when your roster performs well. Hopefully that gives you a clearer understanding of how to manage your bankroll!
Remember, DFS betting is a learning experience just like any other. As a beginner, you need to learn the ropes before you strut your stuff in the high-roller contests where the entry fee is higher. So, hone your craft in low entry fee and head-to-head tournaments; you won’t regret it.
Striking the right balance between field size and potential wins is crucial for long term DFS betting success. Some managers only enter the big prize contests – they treat it as a kind of lottery ticket, but one which is a calculated risk rather than a complete gamble.
Others, meanwhile, enter only head-to-heads and ‘double up’ contests. To them, this is an excellent source of extra income.
So finding your own unique balance is key, but here’s a strategy we recommend: winning a head-to-head essentially gives you a free ticket into a big contest that week with the prize money earned. You have to speculate to accumulate!
We hope you liked our guide on how to manage your Daily Fantasy bankroll. Make sure to read our other Beginners Guide articles to fully understand the key aspects of Daily Fantasy Sports.
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