Playing daily fantasy sports (DFS) is a challenging endeavor, but win or lose it’s always a big rush for many reasons.
Of course it’s a lot more fun to play and win in DFS, but winning long-term is very hard to do, even for the professional sharks who spend 40+ hours per week building lineups.
If you are losing money in DFS, and chances are good that you are, there are a few reasons why this is likely happening. Below I list five of these reasons, and offer a tip for each to hopefully help you out a little bit.
1. Same contests, same results – Many of us tend to get into a routine when playing DFS, and this is a great thing so we can neatly fit DFS into our hectic lives, but if we are constantly losing then maybe it’s time to switch things up. Tip: If you have been entering many different lineups into GPP contests, but keep losing then maybe it’s time to start playing more 50/50’s and head to heads where the odds of winning are higher. Don’t be shy to switch things up no matter what way you play DFS, and remember that it’s all an experiment and a hard fought journey.
2. Research process is stagnate – Building lineups is a fun activity, but it’s also a lot of work, especially on busy nights where leagues have 14 or 15 games in the schedule. You likely read the same types of articles on the same types websites, and while this is smart from a time efficiency perspective, it can hurt you also. Tip: I’m not saying you should do research on 20 different sites every day, but don’t be shy to drop a source of information, and add a new source. Try to remember what each source said heading into a night of sports action, and compare it to what actually happened. Some writers are good with words, but poor at offering player tips and insights that truly matter. If sources keep letting you down week after week then maybe it’s time to forget they even exist.
3. Throwing more money at losses – Gambling is addictive for a few reasons, but one is because when you lose you want to quickly make back the lost money as fast as possible. So we double or triple down the next night, and make some money, break even, or get down even further. Tip: Resist the urge to bet fast and bet with emotion in DFS since money can go fast, chip away at losses and grind things out. If you bet $10 one night and lose it all, then next night bet 1/2 or a 1/3 as much and keep doing that until you get on a winning streak. Sometimes when I go cold I’ll just play in free contests until I start winning consistently again, and I feel more confident about putting down hard earned money again on paid contests.
4. Playing sports you don’t know – DFS to some is just a numbers game where it doesn’t matter what sports league it is, they will bet based on player’s past games statistics and fantasy points. This is very important to do obviously, and we provide tools on DraftFuel to analyze players and their value, but there’s more to a drafting strategy than just that. I win the most contests and money playing in NHL and PGA contests since those are the two sports that I watch the most, and therefore understand the best. I thought Auston Matthews having a salary of $5,400 on DraftKings before he played his first game in the NHL was a bit high, but knowing what kind of special kid Matthews is, I felt he would have a big game vs Ottawa, and sure enough he had 4 goals and 16.5 fantasy points to lead all NHL players that night by far. I couldn’t have dreamed about a game that epic, but my premise was right about Matthews. Well worth the $5,400! If I didn’t know the NHL that well and only went on past numbers, then I wouldn’t have drafted Matthews and likely wouldn’t have fared so well financially. Tip: Bet on what you know. The most successful investor in the world is multi-billionaire Warren Buffet, and guess what he invests in? He invests in companies he understands the best, and it pays off handsomely for him.
5. Starting the hometown players – It’s easy to build lineups when the core of them are players from your hometown team, or whatever your favorite teams may be. We do this because we know these players well, and believe in them the most. This is usually a bad idea because we are limiting ourselves to a team or handful of teams to make up the bulk of our lineups. Tip: Potential is everywhere, but you got to do the research to find out where it is on any given day. Maybe every year on a player’s birthday he totally kills it. Or maybe a player is best on the road vs certain teams. You need to know some insights like these to have competitive advantages. This is especially important for low-cost value players who will be low owned. Stacking is an OK strategy, but don’t always stack the players you know best, opportunities shift every day in DFS.
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