With Daily Fantasy Sports sites and games becoming increasingly popular with every passing day, more and more new players are arriving on the scene. DFS games are easy to play but difficult to master, and new players in particular can often be overwhelmed by the huge amount of specialized terms and phrases that is thrown around in DFS leagues and contests. In order to truly be successful on these sites, the average player will need to learn every aspect of the game and develop a strategy that works for them. An important issue on DFS sites is bankroll management, so we’ll be taking an in-depth look at this factor today.
Bankroll management is a controversial issue in the DFS scene. Some enthusiasts tend to believe that the most successful players rely on enormous bankrolls to multiply their winnings, but there isn’t really much truth to this idea. The average player will make use of a reasonably small bankroll that gradually develops over time. Naturally, your bankroll management can make or break your success in DFS leagues and contests, so it’s important to be aware of the various pitfalls and issues that must be considered in regard to the amounts of money you put on the line.
First of all, and perhaps most importantly, we have to stress that there is no one “golden method” when it comes to bankroll management. You can’t follow a set of rules and enjoy guaranteed success, as every player is different. Just like with your in-game strategy, your method of money management needs to be suited to your own requirements and your own personal style. Every single player is unique and should be treated as such; so don’t feel pressurized into copying the system of another player and expecting it to work for you.
A good way to start planning out your own method of bankroll management is to look at your personal perspectives on your money. You have to look at the way in which you regard your own winnings, for example. Many players tend to win money and then treat this money in a different way to their initial deposit. You might regard this “house money” with a lighter and more carefree attitude than the money that you directly put into your account. This is a habit that is easy to fall into, but it should be avoided at all costs. If you treat your money without the respect it deserves then you will surely lose it more easily.
Essentially, it’s important to adopt the mindset that every bit of money in your account, whether it came from your bank account or the winnings of a contest, is of the same value. In order to be successful on DraftKings, you need to regard the entirety of your bankroll with a certain degree of discipline. Your money shouldn’t be put into groups, which are then treated with different amounts of respect as this will quickly lead to failure in DFS games. To understand and effectively execute your method of bankroll management, you’ll first need to accept this principle.
Another question to pose yourself when thinking about your bankroll is how much are you prepared to put on the line at once? Different strategies can be adopted here and this will depend on your own personality and financial limits. A commonly used method is to only ever risk 10% of your total funds at any one time. Other players go for up to 25% or even more. In my opinion this number should be more conservative after initially creating your account, using our DraftKings promo code, and waiting to receive that deposit bonus.
Naturally, as with any money-based game, the more you risk, the more you stand to win or lose. Bigger risks can pay off but they can also very easily lead to big disappointments, so it’s up to you to decide on what suits you best. DFS sites can quickly eat through your funds if you aren’t careful, so the most important thing is to be responsible with your money and don’t take risks you simply can’t afford.
With prizes of up to one million dollars in certain tournaments, it can be very tempting to invest big funds in your account and go for high-risk contests, but every player needs to find the right balance between risk and reward that suits their style of play. The frequency of play also plays an important role in your bankroll management. Coming back to DFS sites every single day and joining up with huge amounts of games can also be exceptionally tempting but aren’t usually the best ways to make a profit. Successful players are usually gifted with a good degree of patience that helps them choose the right frequencies and investments to enjoy the taste of victory more often than defeat.
Managing your bankroll is important not only for the obvious reason of saving your money and preventing any financial problems in your life, but also in allowing you to make your way to the bigger tournaments with the larger prize pools. Over time, through the use of good fund management and proper strategies including playing in the right contests, you’ll be able to amass the winnings necessary to play for the attractive six-figure prizes. Otherwise, you might decide to simply stick to the smaller games and this can be a sound strategy as well. Smaller games involve lower risks, with head to head matches offering you the best chances of winning. It can be smart to play these sorts of games over a long-term period, as you’ll be giving yourself a decent chance of enjoying some profits.
Overall, no matter what strategy of bankroll management you decide to make use of, the most important thing is to take responsibility for your money. Remember to stay patient and avoid risking too much at once in order to give yourself the best chances of success. This way, you should enjoy the benefits of daily fantasy sports sites and have a good experience overall.