You may have already heard about fantasy sports but are not quite sure what it is and how it actually works. And since millions of people around the world are into it, it does pay to know more about its workings – especially if you are interested in trying it out. If you are a beginner at fantasy sports, here’s what you should know: the real deal on fantasy sports.
How it works
It’s simple in its essence, really. A fan or fantasy sports aficionado can choose from a bunch of real world players (using an online process of selection) or a draft in order to form their ‘dream team.’ The chosen players’ statistics in the real world are then compiled and evaluated and compared, and the outcome of this comparison will determine which ‘dream’ or ‘fantasy’ team will win a game.
Those who choose their teams will be able to track their team’s progress and performance with the use of websites and mobile applications. Some fans can even choose to join their leagues with their friends, and then have their teams compete with each other. Some other fans often opt for public leagues, where they can compete against people they don’t know, and these leagues are hosted by various websites (here at Playinglegal.com, there’s more information about this).
Who are the players?
You may not believe it, but as of 2015, there were actually about 56 million fantasy sports players in North America alone. And, what’s more, out of this 56 million, approximately 10 million players were in their teens. Another fascinating fact about the players is that 19% of men in their adulthood take part in fantasy sports, while only 9% of the adult female population plays. The numbers say it all, as well: as of 2015, the total amount per year spent on fantasy sports was at a high of $18 billion.
Fascinating facts and figures
Here are some other numbers and facts and figures which may interest you: fans of fantasy sports who have more money to spare are more than likely to really get into it and play as much as they can. As a matter of fact, 16% of individuals with an income of more than $50,000 a year really delve into fantasy sports, but only 10% of individuals with annual earnings of below $50,000 become active players.
The big players
In fantasy sports, there are basically two main players: FanDuel and DraftKings. These two sites are quite prominent in the industry, and they actually pay out over 90 percent of their fees to customers as prize money so there will be more players getting into the game. FanDuel and DraftKings have some big investors under their belts, including Major League Baseball, the NBA, the NHL (National Hockey League), and some NBA team and NFL team owners.