By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData CollectiveSmartData Collective
  • Analytics
    AnalyticsShow More
    AI analytics
    AI-Based Analytics Are Changing the Future of Credit Cards
    6 Min Read
    data overload showing data analytics
    How Does Next-Gen SIEM Prevent Data Overload For Security Analysts?
    8 Min Read
    hire a marketing agency with a background in data analytics
    5 Reasons to Hire a Marketing Agency that Knows Data Analytics
    7 Min Read
    predictive analytics for amazon pricing
    Using Predictive Analytics to Get the Best Deals on Amazon
    8 Min Read
    data science anayst
    Growing Demand for Data Science & Data Analyst Roles
    6 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-23 SmartData Collective. All Rights Reserved.
Reading: Big Data Drives Booming Demand for Fantasy Sports
Share
Notification Show More
Aa
SmartData CollectiveSmartData Collective
Aa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Big Data > Big Data Drives Booming Demand for Fantasy Sports
Big Data

Big Data Drives Booming Demand for Fantasy Sports

Sean Mallon
Last updated: 2017/08/16 at 11:25 AM
Sean Mallon
4 Min Read
SHARE

Fantasy betting is growing faster than anyone could ever have predicted. In 2008, one in six Americans admitted to betting on sports. That number has increased significantly in the years since. According to recent statistics, North Americans are spending over $27 billion a year on fantasy sports wagers.

Contents
Why Big Data is a Game Changer for the Fantasy Sports IndustryBig Data Will Drive Growth of Fantasy Sports Betting

Americans aren’t the only ones becoming more interested in fantasy sports. Many overseas players getting in on the action too. They are using DNS proxies to watch march madness from anywhere.

A number of factors have contributed to the sudden interest in fantasy sports. However, big data is probably the most significant.

Why Big Data is a Game Changer for the Fantasy Sports Industry

Fantasy sports betting is as much a game of skill as chance. Bettors with a solid understanding of statistics and detailed knowledge of players have a much better chance of winning. More companies are tracking data on players and making it available, which is transforming the fantasy sports industry.

More Read

Data Ethics: Safeguarding Privacy and Ensuring Responsible Data Practices

Data Ethics: Safeguarding Privacy and Ensuring Responsible Data Practices

Banks Merge Data Mining and CRM Tools to Boost Profitability
How Residential Proxies Help Improve Data Gathering
How Smart Buildings Use Data to Help Businesses Cut Costs
Data Careers That Make a Positive Impact on the World

Identify Best Predictors

Being prepared is one of the golden rules of DraftKings. The only way to be adequately prepared is to collect as much data as possible. Here is the most important excerpt from their post “11 Rules for Winning at Daily Fantasy.”

“Whenever you feel like saying, ‘I was just unlucky,’ trust me when I say, you’re probably an idiot.’ Analyze the reality. Don’t just try to make yourself feel better.

In chess there’s a saying, ‘Only the good players get lucky.’ This applies to every area of life. As Scott Adams (creator of Dilbert) said to me, ‘if you know you’re only going to succeed at 10% of the things you try, make sure you try 100 things.’”

General Managers used to believe that looking at the aggregate value of each player was the best way to win. They would always draft players with the best overall stats. However, former Oakland Athletics general manager Billy Beane proved otherwise.

According to Beane’s analysis, teams with a higher on base percentage had a statistically much better chance of winning. Rather than draft and train The most well-rounded players, Beane would focus more on those that had the best chance of getting on base.

The same principles apply to fantasy sports bettors. Bettors need to learn everything they can about the players in their virtual roster.

Prepare for Different Outcomes to Minimize Risk

Unfortunately, you can never predict sports outcomes with any level of certainty. Some bettors take too many risks, because they’re overly confident in their match ups.

Having access to plenty of data keeps you from being overly confident. You can study different historical trends to understand potential outcomes. This will keep you from making poorly thought out betting decisions.

Big Data Will Drive Growth of Fantasy Sports Betting

Fantasy sports have become very popular in recent years. Part of the reason is that players realize that having access to more detailed information allows them to make more informed than decisions. This allows shrewd players to make more money from their wagers.

Sean Mallon July 27, 2016
Share This Article
Facebook Twitter Pinterest LinkedIn
Share
By Sean Mallon
Sean is a freelance writer and big data expert. He loves to write on big data, analytics and predictive analytics.

Follow us on Facebook

Latest News

Data Ethics: Safeguarding Privacy and Ensuring Responsible Data Practices
Data Ethics: Safeguarding Privacy and Ensuring Responsible Data Practices
Best Practices Big Data Data Collection Data Management Privacy
data protection for SMEs
8 Crucial Tips to Help SMEs Guard Against Data Breaches
Data Management
How AI is Boosting the Customer Support Game
How AI is Boosting the Customer Support Game
Artificial Intelligence
AI analytics
AI-Based Analytics Are Changing the Future of Credit Cards
Analytics Artificial Intelligence Exclusive

Stay Connected

1.2k Followers Like
33.7k Followers Follow
222 Followers Pin

You Might also Like

Data Ethics: Safeguarding Privacy and Ensuring Responsible Data Practices
Best PracticesBig DataData CollectionData ManagementPrivacy

Data Ethics: Safeguarding Privacy and Ensuring Responsible Data Practices

7 Min Read
data mining and crm for banking
Big Data

Banks Merge Data Mining and CRM Tools to Boost Profitability

9 Min Read
residential proxies
Big Data

How Residential Proxies Help Improve Data Gathering

7 Min Read
smart building data-driven business
Big Data

How Smart Buildings Use Data to Help Businesses Cut Costs

8 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

AI chatbots
AI Chatbots Can Help Retailers Convert Live Broadcast Viewers into Sales!
Chatbots
ai is improving the safety of cars
From Bolts to Bots: How AI Is Fortifying the Automotive Industry
Artificial Intelligence

Quick Link

  • About
  • Contact
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
Go to mobile version
Welcome Back!

Sign in to your account

Lost your password?