Bitcoin Sports
Daily fantasy sports is one of the most popular and most innovative types of sports related betting today.
In fact, it is quite different from conventional betting, as it involves a lot higher degree of skill.
Although it’s rare, there are sportsbooks that will allow crypto sports betting, which means you can do Bitcoin betting instead of exchanging the funds each time. It’s completely up to you but that option exists with a company like Nitrogen Sports.
Daily fantasy sports is derived from fantasy sports, also known as “rotisserie“. Fantasy sports is a game that predates computers and the internet, but nowadays online fantasy sports is the norm.
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Fantasy sports online can also be played with Bitcoins, in addition to conventional currencies.
Definition of Fantasy Sports
Fantasy sports first appeared after the Second World War. The concept is pretty simple, yet quite revolutionary. Instead of betting on how actual teams will match against each other, all participants assume the role of team managers and select their own players, thus creating an imaginary team. The specific rules, including the number of points won for each action of the chosen players, as well as the number of players that each participant is supposed to select may vary depending on the sport in question.
Players are usually assigned a virtual value, depending on their skills and performances and participants are supposed to do their shopping within the allocated budget. That way, all participants will have equal chances of selecting a solid team and the winner will be decided solely by the participant’s ability to pick the right players.
The first game of fantasy sports was a game of fantasy baseball, as it is simplest to keep track of baseball stats, as opposed to stats of other sports. Then the concept expanded and multiple fantasy sports leagues and competitions were organised. Typically, in the early days, fantasy sports competitions lasted a whole season. The success of each fantasy team was measured in terms of the individual achievements of all selected players of the season as a whole, including all matches in which they participated.
Online Daily Fantasy Sports
The whole season is a long period of time. Winning a game of fantasy sports is a very rewarding, but it takes too long and it is pretty much consisted of waiting for almost a year, after you’ve concluded your initial choice of players. When fantasy sports went online, innovative-minded people realised that there is room to change fantasy sports and make them a lot more dynamic and fast-paced.
That’s how daily fantasy sports (DFS) were born. Daily fantasy sports is a type of fantasy sports where competitions last just one day, or a weekend at most instead of a full season. The concept remains the same, participants choose their players, within the allocated budget and then their results are calculated on the basis of who their players have scored in the course of the match in question.
There are multiple websites that offer daily fantasy sports, and multiple sports are featured, you can play fantasy (American) football, baseball, basketball, golf, hockey as well as soccer (association football). Initially fantasy sports were considered to be an American thing, but with the popularisation of daily fantasy soccer, the popularity of fantasy sports in Europe and the rest of the world was increased.
Types of Competitions
In addition to being able to choose from a range of sports, you can also choose the types of competition. There are larger tournaments with dozens, hundreds and even thousands of participants, there are so called sit ‘n’ go tournaments, head-to-head, double up, as well as beginners only games. These are only the general types of competitions, the operator is free to set specific rules for each competition that they offer.
If you’re new to daily fantasy sports, you may wish to start competing in free competitions, or competitions that have a low entry fee, just so that you won’t lose a lot of money while you’re still earning and gaining experience. Of course, it is always wise to do a bit of research before you start playing, but no amount of research can prepare you for fantasy sports, as much as participation in fantasy sports tournaments can.
Many fantasy sports websites offer free tournament, which feature small prizes, or massive games with a low or no fee, where you can see how you stand against other players, and therefore know how much you will have to improve before you can start winning.
Double ups are competitions where participants ranked in the top half win prizes, whereas those ranked in the bottom half don’t win anything. This is a good option for those who have gained a level of knowledge and confidence, but still have a lot to learn, as they won’t have to be better than every other participant, only half of them.
Head-to-head are competitions where there are only two participants the one who has a better score, takes the prize. The prize is usually consisted of the entrance fee of the opponent, minus a small fee for the fantasy sports website.
There are also winner takes all tournaments, where the player who finishes on top, gets the full prize pool. These high-risk, high-gain competitions are perfect for those who feel confident that they are among the top fantasy sports players at the website.
Fantasy sports require skill and most successful players, especially those who play fantasy sports professionally rely on statistics. It is easy to find statistical data these days, everything is available on the internet, but selecting the right statistical categories and drawing the right conclusions is somewhat more difficult.
Advantages of Playing Fantasy Sports with Bitcoins
Playing fantasy sports with Bitcoins is pretty much the same as playing with conventional money. You need to find a site that accepts Bitcoins, acquire a certain amount of Bitcoins, if you haven’t already and then choose a competition or competitions and start drafting players. At BitcoinOGG you will find a lot of useful information on how to use and acquire Bitcoins.
Bitcoin fantasy sports operators have as diverse offering as non-Bitcoin sites. Moreover, Bitcoin DFS sites have one advantage over sites that don’t accept Bitcoin. Namely, as Bitcoin is not considered to be a currency by a number of countries, you are not legally risking any money when you’re playing fantasy sports with Bitcoins.
That comes very handy in cases where local or national authorities have banned fantasy sports, as bans apply to real money daily fantasy sports, which means that Bitcoin fantasy sports aren’t banned.
The value of Bitcoin is very volatile and it may change significantly, even in the course of a day or two. So, you may win a tournament and find out that you’ve actually won more money than what you’ve expected, if the value of Bitcoin has grown in the meantime.
FAQ
Yes, most operators offer some sort of bonuses or promotions. It may be a standard welcome bonus, where the operator matches the amount that the player initially deposits, or free roll bonuses, where you get to participate for free in competitions for which you’re required to pay a fee.
Yes, many Bitcoin fantasy sports operators offer soccer tournaments and competitions. You can choose the one that you like, pay the participation fee (if it’s not a free tournament) and hope to win.
The player’s rating is a very important category, but it certainly isn’t the only one. For example, you always need to check whether a player is well-rested for the upcoming game, as well as his statistics against the particular team that his team is facing that weekend. Often, very good players don’t play that well against a certain opponent.
Yes, there’s no limit on the number of competitions in which you can participate. As long as you register in time, and the maximum limit of participants (if there is one) isn’t reached and you can pay the fee, you can participate in multiple competitions.
As soon as the competition is over and the results are officially confirmed by the DFS site, you can request a withdrawal. The specific waiting period depends on the site in question, i.e. their withdrawal policy. Generally, Bitcoin withdrawals are a lot faster than withdrawals via other methods.
Conclusion
Daily fantasy sports is a multi-billion dollar industry. Millions of people from all over the world participate in fantasy sports competitions online. There are a lot of fantasy sports operators, each of them trying to offer something better than its competition in order to attract as many players as possible. Playing fantasy sports with Bitcoins, is in principle, no different from playing DFS with conventional currency and there are multiple Bitcoin fantasy sports websites.
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Bitcoin Sports Exchange
How do I deposit in Bitcoin?
Bitcoin Sportsbook
Before making a deposit at a Bitcoin sportsbook, you will first need to buy Bitcoin through a cryptocurrency exchange.
First of all, you will have to upload fiat currency – such as GBP, USD or EUR – to an online website or exchange. From here, you can sell your fiat currency in exchange for Bitcoin.
You will then have to transfer this Bitcoin from the exchange to a special wallet, such as a free online wallet. This money must then be transferred to your Bitcoin sportsbook of choice.
Bitcoin Sports Book
Bitcoin Sports Betting Sites
If you’re not sure how to make a deposit using Bitcoin, you can find out everything you need to know in our guide on how to buy Bitcoin.