Daily Dr. Roto—May 16, 2017
Do What I Say, Not What I Do
For all those players who are new to DFS out there, I want you to listen closely to me as I am about to give you some sage advice when it comes to playing tournaments on FanDuel and DraftKings. The truth is that I don’t follow my own prescription (possibly out of stubbornness or out of the delusion that I will pay for my kid's college tuition if I win), but I encourage you to learn from my mistakes. Playing DFS is not easy. Imagine you are just a small minnow in the big ocean. How do you avoid the sharks and the whales? Moreover, how do you avoid the schools of man-eating piranhas waiting to rip your little minnow body apart?
The first thing you must do is to avoid large multiple entry GPPs (Guaranteed Prize Pools). For example, tonight there is the $4 Squeeze on Fanduel. If you play this game, you will be competing against 44,117 of my closest friends. Most, if not all of the time, you will find that people who enter these GPPs have what we call multiple entries. Up to 150 max entries are allowed and if a player has up to 150 max entries at $4 a pop they are paying $600 for a chance to win the big first place prize ($30,000 in tonight’s contest). If you are entering fewer than 150 teams, you are at a competitive disadvantage against the sharks who are swimming in the DFS waters. If you choose to play in these GPPs and don’t have multiple entries, you should go in with the attitude of $4 and a dream, hoping that your 1-3 entries will make you my newest rich friend. This takes a whole lot of luck to happen and often leads to huge disappointment.
One way to avoid the sharks is to “pay up.” Paying up is a risky proposition (especially for new players) because you can lose your money quickly. However, the advantages of playing in these contests are great. First of all, even though the entry fees are higher, fewer overall people are playing in the tournament. For example, tonight on FanDuel, if you are willing to pay a $44 entry fee instead of $4, you will only play against 8,021 people vs. 44,117. That is a huge difference. Sharks will still put in multiple teams, but because of the price point, often they put in fewer teams than the max allowed. This can give you a slight competitive advantage since there are fewer overall teams you are competing with. However, if you lose, you are losing $44 instead of $4.
The other way to circumvent the sharks in the DFS waters is the way that I encourage all new players to use. Single entry GPPs are by far the best and easiest ways to play and learn the game. Admittedly you will make less money in these types of tournaments, but the upside is that you and your opponents are only allowed to place ONE SINGLE team into each contest. This puts the odds closer to your favor and gives you a much better chance to win. If you can win some money at the single entry tournaments, then hopefully you can continue to build your bankroll. Once you do that, you have the chance to be more aggressive in the contests you are playing. The key to winning DFS is to build your bankroll slowly and steadily and make sure you are playing on the right contests.
So go now and enter the single entry contests and become a big winner. Now if I would only listen to my own advice I might just be one too!
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