As the NFL has grown into the mega-sport that it has become today, so too did all the activities that go with it such as traditional gambling but also with betting on fantasy NFL football. Of course, anyone that has ever heard of NFL fantasy football already knows that most money is exchanged between friends who are members of a given league. But, there is a whole new breed of fantasy games being introduced as well as new ways to make money that avid fantasy football players should be aware of + know how to use because ignorance could really be expensive in this case.
Before jumping into all the possibilities + recapping the traditional options, lets take a few minutes and get some of the most commonly asked questions out of the way first.
Is Betting On NFL Fantasy Football Legal?
This isn't your run-of-the-mill sports betting. There is no wager being placed on a point spread; no money down on the game total going the over or the under. As such, in the eyes of law betting on fantasy sports is not the same as gambling. The end result is that those who want to bet at a website that offers pro fantasy football for real money can do so safely and legally.
Consult the three federal laws that govern sports betting in the U.S. (Unlawful Internet Gambling Enforcement Act, the Professional and Amateur Sports Protection Act, and the Wire Act) and you'll find specific mention of fantasy sports considered separate. And if you think about it, it makes sense. Think of fantasy betting as a secondary wager(s) where performances translate to points. One could argue that it's a lot like a player proposition bet. While it's certainly in the same ballpark, there are differences in the construct of a fantasy team and placing a direct bet on a player performance at a sportsbook.
Who Can Play and Bet On NFL Fantasy Football?
Anyone who is of age to bet for money in their state is eligible to play. That could mean being 18 or 21, so it's important to check the legal betting age in your area. But Fantasy sports websites do not limit to just players from the United States. In fact, there are some based in the U.S. that also have offices around the world. That means that this is an international phenomenon and not something largely limited in the United States.
And with the NFL going overseas for more and more games playing in London each season, the league is growing to be very popular. That generates much more fan-interest from those in England and around Europe for example.
NFL Fantasy Football Betting Websites
Why is betting on NFL fantasy football taking off? One could argue several reasons, but one of them has to be the ways in which the leagues are formulated. The concept behind wagering on fantasy football piggybacks off weekly betting odds and traditional fantasy football leagues. The two are combined, and what you get are daily and weekly fantasy leagues that continuously change as the NFL schedule calendar flips from week-to-week.
Traditional Fantasy Football NFL Leagues
These are the type of website / league that everyone typically thinks of when talking about NFL fantasy football. The stereotypical image is 8 to 12 people huddled in a room, drafting their teams, and strategizing multiple weeks in advance in order to win their championship. While not always like that, these leagues take commitment and owners are locked in for an entire season. This type of league is commonly done amongst friends but there are plenty of websites that match owners from around the world.
How Long Does It Last? - Can vary league to league. Some can go all 17 weeks of the regular season, while others cut short to compensate for playoff teams that have already clinched where starters would sit.
How Much Can You Win? - Different sites offer prize packages. Also find many 'league agreements' outside of site between fantasy owners. As far as betting though, it's not the main thing here. Be sure to review the prize payout for any paid league you enter directly through a website that runs these type of leagues/games.
Weekly NFL Fantasy Football Betting Websites
Great for those who enjoy fantasy football but don't like the commitment of traditional season-long leagues. These types of websites allow users to come and go as they please and are always welcome to pick back up whenever they choose. The primary benefit of these websites is that their options give the users a choice... not just who they choose to select that week, but also in how much they want to risk / win.
How Long Does It Last? - Fantasy games are played week-to-week however there can be variation as to which games are included in the contest which directly affects the player pool. There are many variations but these can be as short as a few hours or span from Thursday night kickoff until the final whistle blows on Monday Night Football.
How Much Can You Win? - Some of these websites run special promotions earlier in the season which can have up to $1,000,000 guaranteed in the prize pool. With a purse like that, its conceivable to win over $150,000 just for winning one tournament. As for a given week, the sky is the limit as to what could potentially be earned. With thousands of tournaments running weekly across each of the major websites, someone could theoretically risk one million dollars or more if they really wanted to.
Betting NFL Player Propositions At Online Sportsbooks
Player proposition odds are formed at NFL betting sites online. These sites are in a different category than the other two fantasy betting websites, but at the end of the day, users are still risking money on statistical performances except their opponents are the oddsmakers and not other owners.
How Do They Work? - NFL player prop wagering websites stem away from the concept of fantasy sports and is geared towards standard sports betting. Wagers are placed on individual players called 'player props'. These props can cover a wide range of different statistical categories depending on the position that player holds. The wager is made for an individual game, so the outcome of the bet will be known by the conclusion of the matchup.
How Much Can You Win? - A player prop betting line will have a payout installed prior to the game. As such, the amount of money that can be won directly relates to the amount of money that is placed on the line. Betting limits on proposition wagers typically range from $1 and can go up to several thousand... it all depends on the clearance the user has with the online betting website. Most of these wagers are designed to pay close to 1-to-1 but could end up being more or less.
Other Important Details To Consider Before Betting
The 'how' of wagering on NFL fantasy football for cash is an important part of the process. This is where you can turn your deposit into winnings, and winnings into payouts. Different fantasy football websites will have their own way of doing this, but with it being legal the window of options to fund your account are plentiful.
Funding Your NFL Fantasy Football Website Account
The methods for making a deposit into an account to play for money are not obscure. In fact, it's a lot easier than making many online purchases for anything else. Deposits will be accepted in the form of a credit card or PayPal. Either way of funding the deposit goes through instantly. Let's say you make a PayPal deposit of $25 into an account. Those funds will be available to enter your team(s) into leagues in tournaments within seconds. Once your account has been set up and activated, the rest is easy.
Getting Paid Out From Your NFL Fantasy Football Website Account
Typically you'll have two ways of going about receiving a payout from an NFL fantasy football betting site. A check can be sent, or a payment through PayPal can be transferred. Those who deposit with PayPal should receive their payout that same way. It's easy, quick, and there is no extra step to take. A check is a painless process as well, with the only difference being that the time it takes to get to the account holder will be longer. With different users playing for varying amounts, the withdrawal limits are important to know as well. Fantasy sports betting sites for NFL games can pay out millions of dollars each month, with winner collecting all different amounts!
