10 Tips for Winning at DraftKings: DraftKings Strategy (Part 1)
One of the most popular daily fantasy sports websites is still DraftKings.com. Tens of thousands of fantasy sports aficionados prefer it over FanDuel despite having a significantly lower overall user base. Having said that, if you can’t win, it doesn’t matter how well-known DraftKings is. It doesn’t matter if you play fantasy baseball, football, soccer, or golf—the possibility to win cash prizes is what keeps you engaged.
How do you triumph over time? It involves thorough research, knowing how to select quality players, keeping an eye on your rivals’ lineups, and budget management. It’s trickier than it seems. Each of those processes is the subject of entire volumes.
For instance, managing your bankroll involves more than just being aware of the amount of money you have available. It also considers how to break losing streaks, how to distribute your wins between low- and high-stakes competitions, and, of course, how to pay taxes on your gains. I’ll summarize the key ideas in this two-part series.
A Quick Guide to DraftKings Success
I’ll use football examples since it is by far the most popular fantasy sport. But don’t be alarmed by that. You can play daily fantasy baseball, golf, hockey, basketball, or any other sport using the 10 tips we’ll go over below and in a subsequent post.
Moving on to the first key
The contest format (cash game or tournament) should affect your draft strategy.
That advice may come out as cliché. But how you draft talent depends greatly on the contest type. The size and reward structure of the competition will alter your priorities.
In the past, we’ve largely discussed this in relation to guaranteed prize pool (GPP) events and 50/50s (cash games). To summarize:
Lineups for cash games vs GPP tournaments.
In a tournament with a huge field, the prize structure will be top-heavy. The top 10 players will receive the majority of the prize money, and about 10-15% of the field will finish in a cash position. Given this, you must take chances in order to end up in a cash situation. Men who could have a big night should be selected in the draft.
The payout structure will be flatter if you’re playing in a 50/50. Everyone receives the same amount of money, and only half of the participants are paid. Because you’re not attempting to place among the top 10 in the field, you don’t need to take as many chances. Simply placing yourself in the 50th percentile will do.
Here’s one way to look at the draft: the more guaranteed points you wish to accumulate, the flatter the payout structure.
That covers head-to-head competitions and 50/50s. More breakthrough performances are required the more top-heavy the reward structure is, the better your chances of winning.
Exercise Caution When Drafting Sleepers
Everyone fantasizes about selecting a sleeper who explodes and having an incredible night. The team owner not only wins money but also gains a reputation as a fantasy sports guru. It nearly seems like magic when it works.
The issue is that most fantasy players discover that selecting sleepers rarely benefits them. Selecting speculative talent in the hopes of a miracle. When the haze clears, they see that their sleepers are still dozing.
Not that selecting sleepers is a poor fantasy strategy. If you know what you’re doing, it can work amazingly well.
The secret lies in being picky.
Keep in mind that a low wage does not indicate latent skill. It usually indicates that the player won’t deliver a standout performance that week.
Building a winning roster can be accomplished by selecting sleepers in the draft. However, selecting players who make a breakthrough requires both research and some luck. Darts are not just thrown at a board. Each week, listen to the talking heads, but keep in mind that thousands of others are doing the same. Find the players who aren’t getting much attention but who appear to have a chance to receive quality playing time owing to an injury, an opponent, or any number of other causes.
View The Most Recent Injury Report
This ought to be self-evident. However, it’s obvious that daily fantasy gamers at DraftKings neglect to consult the injury report before putting together their lineups. They are left with players who wind up missing their games when game time rolls around.
For instance, Jeremy Langford of the Falcons is out with a “undisclosed injury,” according to the most recent NFL injury report (at the time of writing). Will he play in their season opener against the New York Jets? The future? Currently, he is classified as “Questionable.” You don’t want him on your roster if he winds up missing training camp or a few games.
Jaelon Acklin, a wide receiver for the Baltimore Ravens, is in the same boat. Additionally, he has an unidentified injury that could prevent him from attending training camp or several games. Will he suit up for the Jaguars that first week? At this moment, nobody knows for sure. He also has a “Questionable” status mentioned.
The key is to constantly make sure your lineup includes players who will really play by checking the most recent injury report. Spending your pay cap on players that won’t improve your score or chances of winning is the last thing you want to do.
Learn How to Use Bonus Points at DraftKings
Many team owners overlook a few bonuses that are part of the DraftKings scoring system. You’ll get bonus points if your players reach specific numbers!
Check out the weekly fantasy football scoring system at DraftKings. If your quarterback completes at least 300 yards of passing, there is a secret 3-point bonus. A minimum of 100 rushing yards will result in a 3-point bonus for you. And if you rack up 100+ receiving yards, you’ll get another 3-point boost.
Players who can produce those stats are what you desire.
Bonus QB Points
For starters at the QB position, it means keeping an eye on Ben Roethlisberger, Patrick Mahomes, and Matt Ryan. Will they continue to lead quarterbacks as they did the previous year?
You can earn a ton of bonus points from your receivers. At DraftKings, you need to fill 3 WR spots, and each one has the ability to score you 3 points by receiving 100+ yards. Last season, Tyreek Hill, Julio Jones, DeAndre Hopkins, Mike Evans, and Mike Evans led the group. Each one contributed an average of over 100 yards every contest. Will they be able to do it again with these gentlemen?
At DraftKings, the rushing bonus is more difficult to obtain. Two of these come to mind. There are only two running back positions available at DraftKings, to start. Your roster doesn’t offer as many opportunities as your three receivers do.
Second, there aren’t many running backs who consistently average more than 100 yards per game (current group).
In conclusion, DraftKings’ extra points can be useful, especially if you’re aiming to edge over rival team owners in a 50/50 league or tiny league. However, don’t depend on them. They are difficult to obtain.
Your Bankroll Metrics: Establishing
As I have indicated, managing your bankroll in daily fantasy sports is more than just keeping track of the amount of money you have at stake. Starting with a plan that provides you command over your daily and weekly spending is essential. The next step is to determine how many bets you should have active at once.
The best approach to achieve it is to create a formula that takes your findings into account. Your ideal wagering amount will alter as you win more games.
Here are a few pointers I advise you to follow if you’re just entering into fantasy sports.
Start by keeping daily spending to 10% of your whole cash. Don’t put more than $20 in daily admission fees at risk if your deposit is $200.
Track your victories and defeats next. Note the date, the sport, the rules of the competition, the number of participants, the entry fee, and the amount earned or lost. It makes no difference whether you do this on a spreadsheet or with a legal pad and pencil. The latter is better in my opinion because it enables data sorting. The most crucial factor is that you carry it out.
Third, calculate how much cash you should risk each day using a formula that takes into consideration your performance (or week for fantasy football). You can use a variety of formulas. The Kelly criterion is frequently employed by seasoned fantasy gamers. We’ll go into more information about that strategy as well as other bankroll management concerns in the coming future.
These are the fundamentals of managing your cash. The goal is to eliminate the need for decision-making over how much to play. Your stats will show you everything.