A fantasy money league or daily fantasy sports website provides games (“contests”) for prizes or money. In order to join contests, you need to create a profile and deposit funds via credit card or bank account. Once you have the transferred funds in your account, you can select the contest in which you want to play. Number of entrants, entry fees, prize pools and length of the contest vary. On daily sports sites, most contests cover one or two days of games. In NFL contests for example, the majority of contests include the football games on Sunday and Monday Night Football. There are also contests that only cover the Thursday night game. There are thousands of contests with different criteria to choose from every day.
Once you decide on the contest that interests you, the fun starts. The first step is drafting your team. The draft is usually based on a salary cap. Each player is assigned a dollar amount and you have a total salary dollar amount to spend on your players. Once the contest starts, your team must outscore other teams to win cold hard cash. There are thousands played each day and hundreds of thousands of players on the most popular money league sites. In 2013, there were three NFL contests that made the 1st place prize winner a millionaire. There were a little over 2,000 people in those contests. Entrants had a 1-in-2000 chance of becoming a millionaire. Best of all, these daily fantasy leagues aren’t going anywhere; according to federal US law, fantasy sports are completely legal. Read more on our Legality page.
There are other types of money leagues that last all season long, such as Yahoo Pro Leagues. In this traditional format, you pay a one-time entry fee and the winners win a specified dollar amount at the end of the season. A typical league costs $20 with 10 teams, and the winner takes home $100. Sound like a rip off? We think so. You will end up spending hours researching, adjusting your roster, and after two months of work, you might win $100. If you calculate the return on your time, it comes out being pennies on the hour. Sure, there are some larger stakes, niche fantasy leagues, but the average player will never play in these leagues.
What’s going to happen in the next 3-5 years? Currently, the average fantasy player gets together with a group of friends, and uses Yahoo Fantasy Sports or ESPN free interface. Money is collected and paid out offline by a commissioner who doesn’t do any work at his job. We don’t think these games are going away. It’s too much fun to talk smack to your friends and hoist the $3 trophy at the end of the year. These leagues will always have a place in the world, but the real future is in the daily contests. Millions are being paid out each week and hundreds of millions of dollars are being paid out each year. Think we’re exaggerating? In 2014, DraftKings alone will pay out over $400,000,000 in winnings. It’s already a $1 Billion dollar industry and continues to grow. We predict an exodus from “free” fantasy sports games to daily fantasy money leagues over the next few years.
Our goal is to become the authority source of information, reviews and strategy for you on your journey to making a ton of money doing what you love. Select a sport below to learn more about the top leagues with the best signup bonuses, games and prize pools. We only cover the most trusted and proven leagues that have been paying out hundreds of millions over the past 5 years.