Fantasy Sports: Progressive Solutions in the Betting Business

Classic casino entertainment and online sports betting attract many players. Prominent operators compete with each other to provide as many games and bonus features for them as possible. However, some players search for a different kind of amusement.

Fantasy sports are gaining popularity as a great alternative to regular betting activities. Punters enjoy using their analytical skills and sports knowledge to win from other users.

Basic Information about the Niche

This unique type of entertainment is not legally classified as gambling activity but is popular at the level of betting. Participants create virtual teams consisting of real athletes. With the help of sports statistical data, they track the successes and failures of the players in real matches.

Fantasy sports leagues are games based rather on skills, not luck. The connection with wagering is present since users can analyse sports events and statistics intending to receive a reward.

The main reasons why punters enjoy such activities are:

1. Socialisation. Participants gather in teams, join leagues, and constantly interact with each other. Virtual communication helps gamblers meet like-minded people among sports fans.
2. Friendly competition. Punters can relieve stress in these games and have a fun time, as well as compete with other participants in a non-violent way.
3. Sports interactivity. Fantasy entertainment helps users get even bigger pleasure from their favourite activities. Assembled teams make watching matches more exciting.
4. Real-money earnings. Fantasy games are played regularly, and at the end of each period, the winners receive cash prizes.

History and Development of Fantasy Sports

The industry has gained huge popularity in recent years. According to the Fantasy Sports & Gaming Association, the market is worth $7.22 billion. In the US, for example, there are over 59 million players in the sector, and the number continues to grow.

The main milestones in the sphere's history are:

History and Development of Fantasy Sports

The 1950s

The predecessors of fantasy sports were 2 baseball-based table games — American Professional Baseball Association (APBA) and Strat-O-Matic.

Players of this board entertainment used dice and statistical sports data from previous matches.

The 1960s

The first fantasy football game was released, founded by Wilfred “Bill” Winkenbach, Scotty Stirling and George Ross.

Mr Winkenbach developed an effective system of rules for fun, which later became the basis for the first league — the Greater Oakland Professional Pigskin Prognostication League (GOPPPL), located in California.

1980

Fantasy sports were first popular in colleges and universities. The student Daniel Okrent with his friends invented rotisserie baseball. The Roto game was based on the actual sports data, excluding previous seasons.

1981

This was the key year for fantasy activities, as it made this field very popular and brought millions of fans. It is related to the Major League Baseball Players Association strike.

The 1990s

Thanks to the advent of the Internet, many punters from all over the world were able to join fantasy leagues as sports data became available online.

2000s
and today

There has been a significant increase in the popularity of the sector, which was even filmed in the TV show "League" (2009–2015).

How Players Participate in Fantasy Sports

This is exciting entertainment with simple mechanics, and users can choose different matches to enjoy the process, including:

• soccer;
• baseball;
• American football;
• hockey;
• basketball;
• cricket;
• golf;
• races, etc.

Each type of sport has its set of rules, criteria for entering, and a unique scoring system.

Typically, participation in a fantasy sports game includes such steps:

1. Punters join leagues and collect real athletes for their teams before the start of the season.
2. After forming the groups, users track the performance and statistics of the sportsmen to determine which fantasy team is better and deserves to win.
3. Participants can manage their groups in any way — by dropping, picking, exchanging athletes, etc.
4. At the end of the season, the team that scored the highest results in total wins.

As a general rule, every fantasy sports league is drafted anew for each sports period. However, in “keeper” mode, some athletes can remain in the same pack for years. Also, several US companies conduct tournaments for days, not weeks or seasons.

Fantasy Sports and Related Wagering Spheres

The industry is often confused with other betting activities. Let us review the main differences between the sectors:

Virtual Sports

Lots of punters and even some operators confuse these completely different areas. In fantasy sports, gamers participate in imaginary teams thanks to real-life athletes whose actions and successes can be predicted. In virtual sports, everything is based on random number generators (RNG). The results of such competitions are occasional, and users play on their luck.

In this sense, virtual entertainment is similar to slots and has the following characteristics:

• the possibility to make many bets in a short period;
• instant result of sessions;
• prototypes of real-life players;
• no betting strategy needed;
• no relation with real events.

Virtual sports are most often used as an additional method to grow gamers’ interest in the operator's catalogue.

Traditional Betting

The United States is the largest wagering market nowadays. Players enjoy legal sports betting for the opportunity to practise analytical thinking, gain extensive knowledge and win prizes.

Fantasy sports are also popular as an excellent alternative to standard wagering. Let us consider the regulation examples of several states:

• in Texas, USA, daily fantasy draws are illegal, while seasonal activities are allowed;
• in Estonia, this industry is considered a sector of betting if there is a bidding system or rewards for participating in the game;
• in Ukraine, the niche has not yet been regulated, although most forms of gambling are now legalised;
• in Japan, wagering is strictly limited, but fantasy sports are not directly prohibited by the Criminal Code;
• in India, the segment is not regulated at all, apart from 2 states — Sikkim and Nagaland;
• in Argentina and Brazil, local authorities independently decide on the activities of wagering operators.

The Main Things about Fantasy Sports Games

The sphere is constantly growing in popularity, which is a good indicator of great potential. In many countries, fantasy sports are not yet regulated, and in some others, they are not considered part of gambling.

The list of the industry’s main peculiarities:

• fantasy sports are games of skill, where punters create virtual teams with real-life athletes based on the statistical data;
• plenty of punters enjoy such entertainment for friendly competition, socialisation, and large real-money winnings;
• fantasy games have simple rules and include many popular sports: baseball, football, cricket, hockey, basketball, etc.

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