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.
Now on the professional end of the spectrum the equation becomes more difficult. I know that there are guys making their living off of playing fantasy sports. These guys understand scoring, understand how to target new players (another reason I like Fantazzle, it evens the playing field), and understand how to manage their bankrolls. The average male in America makes a salary of $50,000 a year. That equals out to about $4,200 a month and $1,050 a week. In my mind this is the necessary salary for a family man and could be a lot lower for a single man (even though the extra money doesn’t hurt.) I say all of this to say that a professional daily fantasy player has to have a huge starting bankroll to make it as a professional. Because of potential losses a professional has to have at least a $10,000 bankroll at all times. This will then allow for monthly earnings to compound and can help one see the upside of daily fantasy sports. If the professional plays 10 of Fantazzle’s $105 competitions a week and wins them all then they reach their required threshold of about $1,000 a week. If the professional factors in the losses they should be playing at 20 of these games a week. Ultimately the professional has to decide how much money they need to survive. Remember because it is a game of skill there is always the potential to lose and one has to play with this mindset.
I know that I will never reach the pinnacle of professional daily fantasy sports player, but I have had some major successes. Through good research and up to date sporting knowledge a daily fantasy hobbyist can be successful. A little extra spending cash is good for the soul. If there are any guys that play on Fantazzle professionally please email me and let me know (email@example.com.) I would love to add you in my articles about the culture of daily fantasy sports.