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Fantasy Sports Explained

Fantasy Sports Explained

Fantasy sport is a relatively new concept, and a lot of gamblers are unsure of how to bet on it.  The Bitcoin Strip is breaking it down so you can play and win on fantasy sport!

Slightly different from sports betting, fantasy sports do not involve betting on the outcome of a match. Instead, people create a fantasy team and compete against opponents to win real money rewards. Originating in the United States of America, Fantasy Sports have been around for quite some time, initially gaining popularity in the 80s. 

In the 90s, fantasy hit an even further boom, thanks to attributes like the internet. Not long after that, many online casinos started to offer fantasy sports, which brings us to what the market is today. 

In recent years, there has been a steady increase in the demand for fantasy sports leagues in the US gambling market. The betting options comprise a few key elements, such as entertainment, sports, and gains.

What Is Fantasy Sports?

Become your team manager and participate in a new and exciting way of betting on sports online. Fantasy sports is a game of prediction centred around virtual teams with real athletes. If this is something that catches your attention, this fantasy sports guide will teach you all you need to know. 

The points are calculated based on real-world statistics that are translated into fantasy points. A good indication is the right player or team to back, based on real-life game performance. Once you have created a team, you can play against other teams in fantasy leagues. Like real-life sports, managers are able to trade, swap out and remove players to keep their points climbing. 

Fantasy Sports Further Explained

There are fantasy sports leagues for different sports, the most popular being US soccer, baseball, basketball, and soccer.

The concept is the same regardless of the sports involved. I need to create a team of players that will earn points based on their performance in real matches.

There are rules for how players are selected and how points are earned, and these rules vary depending on the league and sport you play. Here are some of the top fantasy sports to bet on: 

  • Football (NFL)
  • Basketball (NBA)
  • Baseball (MLB)
  • Hockey (NHL)
  • College Football
  • College Basketball
  • Golf
  • Soccer
  • Mixed martial arts
  • Esports 

Fatasy sport explained right here at the bitcoin strip

The History Of Fantasy Sports 

It’s undeniable that the internet brought a considerable shift in the fantasy sports market, along with all other gambling avenues. The internet brought an increased demand and a demographic shift, with just about anyone able to participate. Unlike in the past, where all fantasy sports games were held in a print fashion, players can now hop online from anywhere. 

In 1995, ESPN launched the first fully Internet-based fantasy baseball game, followed by other major sports and entertainment companies over the next several years. In October of that year, Molson Brewery launched a fantasy hockey website as part of an “I am online” marketing strategy focused on the “I am Canadian” ad campaign.

The site focused on music, entertainment, and hockey in general, in addition to fantasy competitions. The user registered an account and was able to participate in a nine-team fantasy league. The site contained the latest National HockeyLeague (NHL) stats and featured content from theHockey Hall of Fame.

CBS Sports began offering fantasy football leagues in1997. This is the same year that the fantasy news website, now known as RotoWire, was launched. In July 1999, Yahoo launched a free fantasy football product. This decision gave the site an edge over its competitors.

The maker of Fantasy Football Weekly launched later that year. After Yahoo’s decision, some sites abandoned the paid model, while some smaller sites, such as RotoWire, started offering paid products as they began to lose business to larger competitors. CBS, which moved the league commissioner service to a free model, switched to a paid model before the 2002 MLB season.

The history of Fantasy sport

Daily Fantasy Sports 

Daily fantasy sports are a compacted and faster version of the traditional fantasy format, with competition taking place over a period of less than an entire season, often lasting a week or a day. 

Daily fantasy games are commonly subject to an entry fee. A portion of which funds the winner of the game or a prize pool that is distributed to the winners.

In June 2007, one of the first daily fantasy sites, Fantasy Sports Live, was launched. In November 2008, NBC launched the daily fantasy website SnapDraft and FanDuel, founded in 2009 as a spin-off from a Scottish prediction market company. DraftKings is one of the newest fantasy sports sites, which was founded in 2012.

Bet Better On Fantasy Sports

Be sure to be ready when the final whistle blows and have your bets in to determine who is coming on top. If you are looking to get involved in fantasy sports for the first time, make sure you play at a reputable gambling site, such as the ones listed above and tune into The Bitcoin Strip for updated fantasy sport news!

Last updated by Jen Van Lier on October 20, 2022

About the editor

As website manager, Jen contributes reviews and updates to The Bitcoin Strip on a daily basis. Jen worked in the casino industry for 9 years before focusing on Bitcoin in 2016. She writes on subjects ranging from traditional slots all the way through to unique Bitcoin games, provable fairness and Ethereum smart contract gambling.

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