Cookies help us display personalized product recommendations and ensure you have great shopping experience.

By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData CollectiveSmartData Collective
  • Analytics
    AnalyticsShow More
    data analytics and truck accident claims
    How Data Analytics Reduces Truck Accidents and Speeds Up Claims
    7 Min Read
    predictive analytics for interior designers
    Interior Designers Boost Profits with Predictive Analytics
    8 Min Read
    image fx (67)
    Improving LinkedIn Ad Strategies with Data Analytics
    9 Min Read
    big data and remote work
    Data Helps Speech-Language Pathologists Deliver Better Results
    6 Min Read
    data driven insights
    How Data-Driven Insights Are Addressing Gaps in Patient Communication and Equity
    8 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-25 SmartData Collective. All Rights Reserved.
Reading: Big Data Drives Booming Demand for Fantasy Sports
Share
Notification
Font ResizerAa
SmartData CollectiveSmartData Collective
Font ResizerAa
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
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

Predictions 2009 – John Battelle’s Searchblog
CEOs: Hold Your Team Accountable for Data Analysis
A social network… for the one dollar bill in your pocket.
Blogging from the Gartner BI Summit: Day 2
Digital Universe Study: The Big Hype

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.

Share This Article
Facebook Pinterest LinkedIn
Share
BySean Mallon
Sean is a freelance writer and big data expert with a passion for exploring the depths of information that can be extracted from massive datasets. With years of experience in the field, he has developed a deep understanding of how data can be harnessed to drive insights and make informed decisions.

Follow us on Facebook

Latest News

data analytics and truck accident claims
How Data Analytics Reduces Truck Accidents and Speeds Up Claims
Analytics Big Data Exclusive
predictive analytics for interior designers
Interior Designers Boost Profits with Predictive Analytics
Analytics Exclusive Predictive Analytics
big data and cybercrime
Stopping Lateral Movement in a Data-Heavy, Edge-First World
Big Data Exclusive
AI and data mining
What the Rise of AI Web Scrapers Means for Data Teams
Artificial Intelligence Big Data Exclusive

Stay Connected

1.2kFollowersLike
33.7kFollowersFollow
222FollowersPin

You Might also Like

The Bolus of Bucks

1 Min Read

IBM Holds Human Capital Management (HCM) University in Private…

1 Min Read

SAS Innovates into the Big Data Analytics Era

9 Min Read

Podcast: BI tools vs. Microsoft Excel Spreadsheets

1 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
data-driven web design
5 Great Tips for Using Data Analytics for Website UX
Big Data

Quick Link

  • About
  • Contact
  • Privacy
Follow US
© 2008-25 SmartData Collective. All Rights Reserved.
Go to mobile version
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?