Do you love fantasy sports?
Fantasy sports is quickly growing from favorite hobby to big business.
Even though there are questions about the legality of fantasy sports, more states are moving to legalize fantasy sports and sports betting.
In 2017, New Jersey became the 16th state to make fantasy sports legal. More recently, the state passed legislation to legalize sports betting.
This would tax and regulate companies that do daily or weekly games.
With these huge shifts, there is a big opportunity to make money in fantasy sports.
Can you make money in fantasy sports without gambling?
Yes, you can! Read on to find out how.
A Brief History of Fantasy Sports
Fantasy sports first started in the 1980s, when a sports journalist in New York created the first baseball rotisserie league with his friends.
It grew in popularity in the 1980s and 1990s, but it exploded in 2000. That’s when sports executives found a correlation between fantasy sports playing and TV viewership.
In 2002, the NFL jumped on board the fantasy sports bandwagon with its first commercials promoting fantasy leagues.
Fast forward to today, and the fantasy sports industry is now a $7 billion industry with about 60 million people playing.
And the industry doesn’t show any signs of slowing down. Here’s how you can get in on the action.
A good place to start to make money in fantasy sports is through affiliate marketing.
You can start a blog about fantasy sports or about a specific sport like football. If you drive enough traffic to your site with great content and marketing strategies, you can make a nice chunk of money off of affiliate programs.
You can have links or offer ways for sports fans to sign up and receive a commission.
These are some of the major fantasy sports sites that offer affiliate programs.
DraftKings is one of the most well-known fantasy sports sites, thanks to its clever marketing strategies.
There is a huge range of fantasy sports to choose from. There are the usual contenders like football and baseball.
You’ll also find soccer, NASCAR, MMA, eSports, and EuroLeague Basketball.
The commission structure at Draft Kings is simple. You make a commission off of your referral’s first month at 40%. After that, you make a 25% commission.
DraftKings also offers a sportsbook for those in New Jersey. You can make a nice commission off of your New Jersey-based visitors where they can place a bet on just about any sport.
FanDuel’s commission structure is a little different from the other fantasy sports sites.
They just don’t pay on commission, they pay a small finder’s fee as well. They’ll pay between $25 – $35 for each person you sign up, along with a percentage of commission for the first two years.
What’s nice about being a FanDuel affiliate is that they give you marketing tools and analytics so you can track your links.
No Halftime has fantasy sports covering football, baseball, hockey, and golf. They have weekly and daily leagues, too.
No Halftime gives affiliates a tiered platform to earn money. You can earn big money in your first three months, between 50% – 70% depending on how much revenue you can generate for the company.
After that, the commission rate is between 25% – 35%.
Of course, you’ll have to solve the problem of getting the traffic to your site in order for it to be worthwhile.
Start by becoming a student of search engine optimization, which can be a great way to drive traffic to your site.
Make Smart Investments
If you see yourself as an investor rather than a gambler, this may appeal to you.
Fantasy sports is a complicated business. It’s not a matter of just throwing up a website and calling it good.
There are a lot of vendors that make fantasy sports work. These are the companies you should pay attention to as the industry grows.
The business of fantasy sports relies on deposits and withdrawals to and from user accounts. The two most common ways for that to happen is through PayPal and check.
You’ll want to take a look at Visa and Mastercard, too. They also take a small percentage of each transaction.
Fantasy Sports in the Cloud
Fantasy sports relies on data to run. Statistics, user data, winnings, and more all have to be stored somewhere.
Fantasy sports sites like FanDuel use Amazon Web Services as its cloud provider. It’s possible that fantasy sports players and other fantasy sports sites use this service, too.
Daily Fantasy Sports Optimizers
There’s another industry that’s popped up in recent years. That’s DFS optimizers. They’re primarily software-based solutions that help fantasy sports players pour through statistics to pick the best fantasy sports teams and strategies possible.
You can check this site out for some of the top DFS optimizers and more info.
Start a Fantasy Sports Business
If the entrepreneurial spirit is kicking in, you can start your own fantasy sports business.
You can choose to be a provider like the ones mentioned above or take a shot at the fantasy sports big boys.
You’ll have to think about your audience, the sports you plan to offer, and what kind of payoffs you’ll offer.
The place to start will be to create a business plan. Starting a fantasy sports site will take killer marketing and investment to get it off the ground.
Your business plan should detail how much money you’re going to need, how you plan to acquire customers, and how quickly investors will get their money back.
Make Money From Fantasy Sports
Whoever coined the phrase to follow your passion and the money will follow was a genius.
Little did they know that you can make money off of fantasy sports. There are countless ways to get a small slice of the $7billion industry.
You can become an affiliate, an investor, an entrepreneur or something completely different. It’s completely up to you and your creativity.
For more great business insight, check out our blog today.