Daily Fantasy Sports Strategy: Bankroll Management

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Bankroll management is the single most important aspect of a daily fantasy player’s life. As an “extreme hobbyist” player (as I like to call myself) I don’t have an unlimited bankroll. My bankroll is established by any freeroll money that I win and the budgeted allotment my wife has given me each month to put toward this excellent hobby. Daily fantasy isn’t my profession (even though that would be great) and doesn’t supply the monthly money I need to sufficiently cover the bills. Don’t get me wrong, there are daily fantasy sports professionals (brettfavre444) and I would love to try playing for a living, but you guys don’t have to live with my wife (and…we will leave it at that.) For a guy like me it was devastating when I had blown through my monthly allotment during the first two weeks of the month. One of my most depressing daily fantasy moments came when I had to drain my Fan Stock on Fantazzle to register for the upcoming week. I know that’s what it was there for, but it was truly depressing. I had to sit on the sidelines and play the freerolls. Freerolls just aren’t as fun to me, even though Fantazzle does a great job of providing excellent paying free rolls for their members. I love the thrill of putting up my cash versus someone else’s cash. Being a gambler at heart, daily fantasy sports fill the void in a legal way. Daily fantasy sports require skill, knowledge, and an understanding of sports in general. This is so much better than betting on a team, because we have a hand in the outcome.

For the “hobbyist” like me, bankroll management comes in the form of making money last. I enjoy playing on Fantazzle every week, I love participating in different sports, and I like competing against multiple people. Because of these three things I want my bankroll to last throughout the month. Let’s say I put $200 a month into my Fantazzle account (excellent investment for you and the guys over at Fantazzle.) My goal is usually to allot 20% to games during the week. This would have me playing $20 that week. On Fantazzle this would allow me to enter multiple games at the $2.75 and $5.50 range or put just a little more in and tackle the $11 games (I like getting my Fan Stock, so this is what I usually do.) If I perform well and have success during that week or days then I add my winnings to my initial pot. If I lose I subtract those winnings and take my 20% from what is left. So if I have a great week and make $60 off of my initial $40 I spent the next weeks pot will be 20% of $260. If I lose (which happens…trust me) then I will take 20% of $160. This way I have money to play each day/week and I could potentially have some carryover into the next week. I have had some great weeks on Fantazzle clearing $350 one week during FedEx Cup Season and I have had some -$100 weeks, but utilizing my bankroll strategy I still get to do what I love, play daily fantasy sports every week. Read more…

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