The new big thing in not-sure-why-it’s-legal-if-poker-isn’t gaming for money is daily fantasy sports, sites like draftkings, fanduel, and I see yahoo started doing it too. For the NFL, daily becomes weekly - it’s structured as a tournament. Some entries might be you against 100,000 other people, with the top players getting some fraction of the prize pool, like a poker tournament, all the way down to 1 on 1 (not quite) double your money tournaments.
It’s structured as a salary cap league. You have so much in monopoly money salary, and you need to field a fantasy roster - yahoo’s is QB/RB/RB/WR/WR/WR/FLEX/TE/DEF for instance. Each player has a certain cost based on historical performance, recent performance, matchup, and perhaps some sort of dynamic pricing system based on demand - not sure if that’s implemented but it would be smart.
As an example, yahoo has a $10 tournament with a guaranteed prize pool of $1,000,000 they’re advertising pretty heavily on their fantasy page. If it doesn’t fill up, there will be an overlay - right now it’s about half full, I’m not sure if it’ll fill the rest of the way tonight. Their vig appears to be 11.36% out of the prize pool (113636 max entrants, $10, $1m). The top scoring team will get $100,000, 2nd 60,000 all the way through 9988th through 28495th getting $15. It’s basically like a poker tournament, except the rake/fee/vig comes from the prize pool rather than an addition to the entry.
A team I built for that contest, out of the $200 starting dollars of salary cap:
Aaron Rodgers $48
Lamar Miller $27
Chris Ivory $17
Julio Jones $39
Davante Adams $19
James Fucking Jones $10
Delanie Walker $16
Isaiah Crowell $14
Detroit DST $10
I might end up tweaking that around, particularly downgrading from Julio to upgrade James Jones, but in a big multi-entry contest like this it’s probably a good idea to have a boom or bust team. In this case, I can boom if Green Bay’s passing defense is utterly destroying Chicago, which seems likely. I have a synergistic effect between Rodgers, Adams, and Jones - if the latter two have a big day, so does the former. Since I’m trying to get the highest score out of 100,000+ people, these sorts of boom or bust days can be a viable strategy. On the other hand, if I played a 50/50 tournament (which I’m guessing means the top half of the field not-quite doubles their money), I could go for a more conservative, high-floor strategy.
Every week is an independent contest, the prices will change based on the previous weeks performance, and you go again. You can probably submit the same team to multiple contests I’d imagine - it would be stupid if they didn’t have the interface for that. With at least some tournaments you can submit multiple teams with multiple entries… I assume the money goes through paypal (it does with yahoo at least) since this is on the up-and-up.
I actually did play pretty much this very thing when it was pioneered by world sports exchange probably 10 years ago. Didn’t catch on then. Amazingly enough, neither did their rake-free poker.
Anyway, I’m going to give it a shot this year.
Is anyone familiar with the merits of fanduel vs draftkings vs yahoo? Does anyone have experience with the daily/weekly fantasy sports thing?
I thought we could use this thread as a general discussion - different strategies, particularly good values we notice on player costs, whatever. If you’re talking about anything site-specific like prices, be sure to mention which site you’re talking about.