Preparing to Profit in Daily Fantasy Football: Part 1
By Staff Writer Joe Paeno:
Now that you have finally finished all of your season long fantasy football drafts, let me quickly prepare you to start cashing in on your new addiction: DAILY FANTASY SPORTS(DFS). Whether you are a first time player, or a future DFS “grinder”, FanSpeak will provide the tools you need to make a profit on sites like FanDuel and DraftKings. But before we start getting into my weekly picks and analysis, I need to lay a solid foundation that will help you prepare to profit in DFS.
Laying the Foundation
- Ask Yourself the Right Questions: Know Your Who, What, Where, When, and Why?
- Bankroll Management 101
- Strategies for Cash Games
- Winning Strategies for GPP’s
- Utilizing the Vegas (Life) Line
- Understanding the value of VALUE
- Becoming a Grinder: More Tortoise, Less Hare
Ask Yourself the Right Questions:
Who, What, When, Where, and Why?
Who Are Your Sources?
Answer: FanSpeak –Your success is our success. It’s that simple guys.
There are a ton of “fantasy gurus and experts” out there these days. Do yourself a favor and diversify your sources a little bit, so you aren’t getting the same perspective from all of them. Someone needs to challenge your thinking, but don’t bog yourself down with too much info.
Oh, and one more thing…Say Goodbye to Facebook and Introduce yourself to Twitter. There is no better place to find instant news and fantasy content. *Tip* Follow every NFL Team’s Beat Writer for breaking news and more in depth player/team analysis.
Make sure to follow your boy, Joe@Paeno, on Twitter for all the latest news and trends in DFS and Fantasy Football. Schefty doesn’t have anything on me! #EndShamelessPlug
What Kind of Player Are You and What Are Your Goals?
Your goal in DFS is much different then season long fantasy football. In DFS, you have the opportunity to play as little or as much as you want. Season long fantasy football is simply about winning your league. Much like the late Al Davis your motto should be, “Just win, baby!”
In DFS, every week there are MILLIONS of dollars on the line, but the smartest players turn their initial deposit into a decent profit.
When Will You Play?
The beauty of DFS is that you dictate how much or how little you play. I recommend playing on weeks where you monitor your lineups all the way until kickoff. Once your game starts, your entire lineup is locked (except in DraftKings), so it is crucial for you to be watching injury news prior to kickoff. If you think you will be too busy, then don’t play, because you don’t want to be the guy to miss Megatron being a list minute scratch. Things like that do happen, so you need to prepared.
Where Will You Play?
One of the most important things you need to determine is what DFS site(s) you will play on. FanSpeak has decided to partner and affiliate with FanDuel and DraftKings, so we obviously advocate playing in both. However, you need to decide which site better suits your style. DraftKings and FanDuel are very similar, but there are some minor differences that make a big difference. DraftKings scoring gives a full point per reception, compared to the half point FanDuel gives. Also, DraftKings offers flex positions and has a late lineup swap feature that might be attractive for my fellow multi-tasking DFS junkies. Both sites are the cream of the crop, but you just need to evaluate which is best for you. Hopefully, you will get to try your hand at both sites.
Why Are You Playing?
Robert Griffin III coined the slogan, “Know Your Why.” Even though it is cheesy and cliche`, it is just meant to help give you vision, motivation, and purpose. Evaluating your goals will help you meet them more efficiently.
Are you playing mainly for fun? Are you playing to win big in the tournaments? Are you looking to make a little side money? Or maybe you think you have what it takes to turn this into a FULL TIME gig down the road. Seriously, there are plenty of guys that have made the jump from Corporate America to Full Time “DFS Grinder.” For now, lets stick to laying the foundation for which the profits and success will be built upon. Remember, more tortoise and less hare.
Stay tuned to Part 2 tomorrow!