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.
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.
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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.