How to Make Fantasy Football a Legitimate Side Hustle
Over the past couple of years, there’s been an increase in the number of people wanting to make extra income through side hustles. And what better way of making extra cash than by turning your favorite hobby into a side hustle?
Fantasy football is played by over 60 million people across the US and Canada and is estimated to be a $7 billion dollar industry. You too can take advantage of this virtually and make money in the process.
Ok so how does it work?
Traditionally small groups of friends or colleagues would set up their leagues and betting stakes for a potential payout at the end of the season if your team was lucky enough to make it to the finals. However, with the share growth of the industry, this has now progressed to online fantasy contests involving large groups of people all contributing to a shared betting pool.
Embed from Getty ImagesWhat is Fantasy Football?
Fantasy football is a form of online sports betting in the US. It allows fantasy players to own and manage their chosen football teams and compete against other fantasy teams. It can be organized in a variety of ways with the most popular being head to head. Each team is matched up against an opposing team weekly and the team which scores the most fantasy points earns a high rank in the overall standings.
How do you get involved?
Well, all you really need is a smartphone with WIFI, that’s all it takes to get started. You then need to download one of the many apps allowing you access, the two that dominate the industry, FanDuel and DraftKings, allow for bets on virtually any sport you can think of. Once signed up, you can use your phone to deposit money to line up bets, structure cash payouts, set up leagues and make changes all from the comfort of your own home.
How can you make money on fantasy football?
Turning fantasy football into a legitimate side hustle requires skill, dedication and a lot of focus. The players who make the real money, invest their time researching and implementing techniques to help them succeed.
Most good players spend on average around 40 hours a week to come up with their lineups, formulas, strategies, calculations and predictive models. Not to mention the various forums you will need to participate in to keep up to date on the latest info, highlights and advice, especially if you’re not catching the games live.
You will also need to decide what type of contest is right for you, as there are many to choose from, head to head, 50/50, Double-Ups, Multipliers, Qualifiers, etc. Reading up on the different types of contests will give you a better idea of where to put your money and the likelihood of winning.
The Bottom Line
When it comes down to it, can you really make money from fantasy football? Yes, you can, only if you’re willing to put in the long hours required to research which games, techniques and contests have a high probability of you winning and more importantly, making money.
