Modern sports betting as we know it today has existed in one form or another for the last two hundred years, and it’s become one of the most popular pastimes in the world, enjoyed by hundreds of millions of punters.
But over the year we’ve seen a few other sports-related types of betting gaining some traction among the betting community, and fantasy sports betting is by far the most popular on an international level. But what is fantasy sports betting, and why is it different from other kinds, such as AFL premiership betting?
Fantasy Sports: A Breakdown
The concept behind fantasy sports is relatively simple. A group of people will choose a sport, which can be any sport at all, as long as it’s team-based. The group then uses the players and their stats from the chosen sport and creates their own fantasy version. The fantasy team represents and mimics the real team, meaning that how the team performs in a tournament directly impacts the results of the fantasy team.
Those that are involved usually set their own rules and prize pool, and will often pick a number of players from each team. Once the fantasy team has been completed and drawn up, the group will follow those teams over the course of a season. If the real team wins a game during a tournament match, the fantasy team will then often be given a point, or a number of points. These points accumulate over time, and whichever punter has the most points by the end of the tournament or the season will win the prize pool, or at least a larger percentage of the prize.
Betting on Fantasy Sports
There are plenty of bets to choose from when it comes to fantasy sports, but perhaps the most common is the win bet. This is simply wagering that the chosen team will beat the contending team, and if the former does win, the punter will win however much is in the pool. There are also other types, such as the accumulator, where a series of bets are made on how that team will perform in more than just one game. If their bet holds out throughout the season, they will win a much larger percentage of the prize.
The Legality of Fantasy Sports Betting
While many fantasy sports tend to be among friends, there are some professional websites that will pick and host their own teams, allowing for punters to bet on them directly. These sites will often work within certain jurisdictions.
Due to the fact that it’s still technically considered sports betting, but that no official sports are involved, fantasy sports betting remains in a grey area for the time being. For the most part, however, fantasy sports are legal in most countries, especially in those that allow real sports betting. If the legality is a worry, it’s recommended to create a local fantasy sports club that only allows trusted members to join.