Online Fantasy sports betting is betting on a fantasy sports team you create and attempt to beat out the teams formed by competitors for real money prizes. This deviates a little from traditional sports betting because you don’t bet on the end result of a specific event. Although fantasy sports have been existence for decades, the rise of fantasy sports betting was fairly recent. The earliest fantasy sports is said to have been baseball which was established in Boston,1960.
Many Australians are now looking to get in on the action but aren’t quite sure as to how. Well, with our ultimate fantasy sports Australia guide, you will learn all about fantasy sports betting, such as where and how to do it. So, read on, and find out more about this very lucrative sport.
Best Fantasy Sports Betting Sites
How Does Fantasy Sports Betting Work?
Several different bets can be made on fantasy sports. Some of the most notable include the following:
- Prize Pool Leagues – participants pay an entry fee upfront to take part in a league with a fixed prize. Players will be paid depending on where they finish on the league table. Some leagues may have bonus specialised rules that allow for further winning options.
- Head-to-Heads – a player goes up against another player in a contest to win a unified prize pool. Some players believe that these bets are better as you only go up against one other player, but punters need to know the ins and outs of the game to make successful bets.
- 50/50 – these bets take place in larger leagues. Essentially, all the players that end the season in the top half of the league double their initial investment, whereas the bottom half, unfortunately, receives nothing.
- Cash Games – players join or create custom leagues in which the best side will be awarded a prize. While these prizes may be smaller than guaranteed prize pools, they may prove somewhat easier to win in some cases.
What is Fantasy Sports Betting?
Before we can get into what online fantasy sports betting is, we need to take a look at what fantasy sports are. Fantasy sports leagues are based on real-life sporting leagues where participants take the role of manager for their team. With a salary cap and other team limitations, they try to build up the best squad they can with a limited set of resources using fantasy versions of real-life players.
To create an effective fantasy sports squad, punters need to be well-versed in a particular sport. In this way, they can deduce which real-life players will be best for their squad. The limitations mean that players will never be able to select only the top players of the league for their squad.
Fantasy sports gambling is not all that different from regular sports betting. Instead of betting on a team winning a particular match or league, bettors’ wager on their team is best in the league or league game.
Sports with Fantasy Leagues
There are a number of different sports that have popular fantasy sporting leagues built around them. Some of the most popular options in Australia include the following:
- AFL
- Rugby League
- Cricket
- Basketball
- Soccer
- American Football
- Ice Hockey
- Baseball
- Golf
- Daily Fantasy Sports
- UFC
Fantasy Sports Betting Tips
Below are some general fantasy sports betting league tips that apply to the activity as a whole. While punters will need to look at more specific tips and strategies on our specialised fantasy sports pages, these at the very least will help punters pick which leagues to participate in:
- When picking a league to join, pay attention to the duration of the tournament. Daily fantasy sports competitions tend to be more popular than their season-long counterparts due to many reasons. Firstly, there are greater opportunities to place bets. This is because a bet lasts perhaps a week or two. Secondly, the need for sustained interest is much smaller than with season-long leagues. If you know that you aren’t able to retain an interest in a sporting league for a long period, don’t sign up for longer competitions.
- Your strategy will be affected by what sort of competition you choose to compete in. If you choose to participate in a season-long league, you’ll need to look for more consistent players to fill out your squad. However, if you choose to participate in a daily competition, perhaps, it may pay off to look at players on a hot streak.
- There are so many different fantasy leagues available online. It is important to ensure that you know the rules of the league that you join. Just because you were previously involved in a fantasy basketball league in the past does not mean that the next one you join will have the same rules. Ultimately, you need to make sure that you like the rules of the league you’re joining or else you might not have any fun while playing online.
Bet Types
There are a number of different bets that can be made on fantasy sports. Some of the most notable include the following:
- Prize Pool Leagues – participants pay an entry fee upfront to take part in a league with a fixed prize. Players will be paid depending on where they finish on the league table. Some leagues may have bonus specialised rules that allow for further winning options.
- Head-to-Heads – a player goes up against another player in a contest to win a unified prize pool. Some players believe that these bets are better as you only go up against one other player, but punters really need to know the ins and outs of the game to make successful bets.
- 50/50 – these bets take place in larger leagues. Essentially, all the players that end the season in the top half of the league double their initial investment, whereas the bottom half, unfortunately, receives nothing.
- Cash Games – players join or create custom leagues in which the best side will be awarded with a prize. While these prizes may be smaller than guaranteed prize pools, they may prove somewhat easier to win in some cases.
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Is Betting on Fantasy Sports Legal?
Online fantasy sports betting websites are legal in Australia. The form of gambling falls under sports betting, which is made legal under the Interactive Gambling Act 2001 (the only thing that is not so clear-cut and defined are the rules related to online casinos.)
Moneyball has been active in Australia since 2015 and offers punters the chance to make fantasy league teams in all the nation’s favourite sports, including the AFL, NBA, the Big Bash T20 League, the National Rugby League, among others.
DraftKings also recently entered Australia and also offer a range of betting options. Although their selection might be more focused on American sports, there are a few Australian favourite, such as golf and the NBA.
Ultimately, interested fantasy sports betting fans don’t need to worry about the legality of the activity as it is legal. That stated, if you’re still somewhat worried, just check to see if your chosen betting site is registered and regulated by the legislator in your state.
Fantasy Sports FAQs
How many fantasy sports are there?
There are many fantasy sports you can bet on like:
- AFL
- Ice Hockey
- Cricket
- American Football
- Baseball
- Golf
- Basketball
- Soccer
What is the most popular fantasy sports?
AFL is the most popular sport in Australia and a big hit in fantasy sports.
Why is fantasy sports so popular?
Fantasy sport is loved because of its competitiveness, thrills and the big prized you can win. The game has millions of players around the world
How big is the fantasy sports industry?
Fantasy Trade Association estimates the fantasy sports industry to be worth $7.22 billion.
How do you play fantasy sports?
Fantasy sports is played by selecting a league, signing up with a bookie then draft your team and place bets.
Where can you make a fantasy bet?
There are great websites such as the ones listed below which offer fantasy sports:
- PlayUp
- DraftKings
- Draftstars
