Unlike sports betting, Fantasy Sports betting has been legal almost everywhere in the USA for many years. Simply put, fantasy sports betting is betting on fantasy sports.
It remained legal all over the USA apart from Arizona, Iowa, Louisiana, Montana and Washington,
despite the federal ban on sports betting between 1992 and 2018, because Fantasy Sports have been classed as games of skill, rather than games of chance because gamblers do not bet directly on the outcome of single sporting events.
Instead, they take on the role of a fantasy manager, create an imaginary basketball, rugby, Football, or soccer ‘team’ (for example), often using real-life players in a given sport.
Fantasy sports leagues have been around for quite a while but betting on them is something that has only become particularly popular in recent years.
Real-game statistics are then used to rate players’ performances – and fed into the fantasy team results. Whichever fantasy manager has selected the best-performing overall side over a matchday weekend wins a prize, with bigger prizes based on performances across a league season.
Often, there are limits on the number of players that can be selected from a given real-life team or in a given position. Sometimes, players have imaginary ‘budgets’ to spend on selecting their sides, with players assigned a value based on their popularity in the real world.
Punters then make real-money bets with other fantasy team managers. The winner is the one whose team performs the best. Betting can work in a number of different ways, such as head-to-head ‘games’, or taking part in leagues that run over an entire season.
How players score points varies from sport to sport. In rugby, for example, tries scored, assists, penalties drop goals and conversions kicked, tackles made, metres run with ball in hand, are among the numerous ways fantasy team points can be calculated.