Daily Fantasy Sports has become incredibly popular over for sports fans over the past few years. Often referred to as DFS, Daily Fantasy Sports allows fans to build custom fantasy lineups to participate in a number of different one-day fantasy contests online. One of the most important aspects to playing DFS successfully is being able to manage your bankroll, which is an area where a lot of people struggle. Here is a look at how to most effectively manage your bankroll in DFS.
Establishing A Bankroll
The term Bankroll refers to the amount of money you are using to play DFS. It’s important to set a certain amount of money that you can afford to lose and commit to playing with that money. This strategy prevents you from risking more than you could afford to lose. Of course, the ultimate goal is to win money. However, if you don’t have any money to risk then you obviously can’t get in to the action and you can’t win any money.
Determining Bankroll Amount
The best way to determine how much money you should have in your bankroll is to determine how much money you are willing to lose. For example, if you can afford to lose $100 a week playing DFS, then consider putting aside maybe three-quarters of that amount and put $75 in your bankroll. This way you are risking slightly less than the maximum you would be willing to lose and you don’t have to stress about going bankrupt. The amount of money in each bankroll depends on the individual and how much they would be willing to lose.
Splitting Bankroll By Game Types
There are two main types of DFS contests available online. Guaranteed Prize Pool tournaments and Cash Games. Guaranteed Prize Pools, which are referred to as GPPs, are bigger tournaments with guaranteed prizes. They usually include thousands of players and the money distribution is similar to what you might see in a Poker tournament when the top-20 percent of players are paid out. Cash games are usually 50-50, with one player matching up against another in a heads up contest. When you include entry fees, you will need to win at roughly a 55-percent rate to build a profit over the long run playing in Cash games. Depending on your style you could very your approach to playing the different types of games. If you want a big score, then the GPP games are the best bet. However, if you simply want to slow build your profits then the Cash Pool games are the best approach. Depending on your style, it’s important to establish how you want to divide up your bankroll and how much you are willing to risk playing each type of game. Whether it’s a 50/50 split, 70/30 or 80/20, make sure you take the time to establish set amounts for each style of game.
Managing Wins And Losses
The final factor to remember when handling your DFS bankroll is how to manage wins and losses. For example, if you start with $75 and in the first week you win $125, what will your bankroll be for the next week? Do you raise it to $200? Or do you cash out $100 and play with the remaining $100? Once again, this decision is based on the individual approach and how much money you are willing to risk. The most important thing is to establish a comfort zone in terms of how much you are willing to lose. These bankroll management boundaries are important to making a profit playing DFS. If you follow the steps listed here then you should become that much more effective when it comes to managing your bankroll in DFS tournaments.