Fantasy sports betting involves participants forming virtual teams of real athletes and competing based on their actual game performances. They follow specific rules and scoring systems, facing off against other teams over a set period, typically a season or a week.
Various online sports betting platforms host daily or weekly fantasy sports contests, where participants vie for real money prizes by selecting the top-performing team. Players usually pay an entry fee to join, and the prize pool is divided among winners based on their final rankings.
The popularity of fantasy sports betting is on the rise, with platforms offering competitions for popular sports like football (soccer) in the UK, and American football, basketball, baseball, and hockey in the USA. There are also leagues for other sports such as golf and esports.
Although fantasy sports betting is seen as a skill-based activity rather than one of chance, it’s essential to practice responsible gambling. Participants should be aware that platforms profit through a fee called “the rake,” with a portion deducted as profit while the remainder contributes to the prize pool for winners.