How Does DraftKings Work? A Comprehensive Guide

If you’re a sports fan and have been on the internet recently, chances are you’ve come across ads for Daily Fantasy Sports (DFS) sites like DraftKings. And with over 8 million active users, DraftKings has definitely made its mark in the fantasy sports industry. But for those who are new to DFS or have been curious about how it all works, this guide is for you.

In this article, we will explore everything you need to know about DraftKings – from its history and how it differs from traditional fantasy sports, to its gameplay and strategies for winning. So if you’re ready to learn more about the world of DraftKings, let’s dive in!

History and Evolution of DraftKings

DraftKings was founded in 2012 by Jason Robins, Matthew Kalish, and Paul Liberman, who were all friends from college. The trio wanted to create a fantasy sports platform that was faster and more exciting than traditional season-long leagues. In just a few years, DraftKings became a leading name in the fantasy sports industry, and in 2015, it surpassed its main competitor FanDuel in terms of daily active users.

One of the major turning points for DraftKings came in 2018 when the Supreme Court ruled to legalize sports betting nationwide. This opened up new opportunities for the company, and they quickly launched their first sportsbook in New Jersey. Since then, DraftKings has expanded into other states and even partnered with major professional sports leagues such as the NFL, NBA, MLB, and NHL.

Understanding the Basics of DraftKings

How It Differs from Traditional Fantasy Sports

In traditional fantasy sports, players draft a team at the beginning of the season and compete against others in their league for the entire duration of the sport’s season. On the other hand, DraftKings offers daily contests in which players can draft a new team every day. This makes it more fast-paced and exciting for users, as they don’t have to wait for an entire season to see results.

Another key difference is the scoring system. In traditional fantasy sports, points are accumulated over the course of a season based on player statistics. In DraftKings, points are awarded based on performance in a single day’s games. For example, if you draft a player who scores a touchdown in a football game, you will receive points for that specific game only.

How It Works

DraftKings offers daily and weekly fantasy contests for a variety of sports, including football, basketball, baseball, golf, hockey, soccer, and even eSports. Here’s a step-by-step breakdown of how DraftKings works:

1. Create an account: To get started, you’ll need to create an account on the DraftKings website or app. You can sign up using your email address or link your Facebook account.

2. Choose a contest: Once you’re logged in, you can choose from a variety of contests based on the sport, entry fee, and prize pool. DraftKings offers different types of contests such as guaranteed prize pools (GPPs), head-to-head matchups, and 50/50 contests where half of the participants win.

3. Draft a team: After selecting a contest, you’ll have a salary cap of $50,000 to draft a team of players. Each player has a designated salary based on their past performance and future potential. You must select one player for each position and stay within the salary cap. You can make changes to your lineup until the start of the first game.

4. Follow the games: Once your team is drafted, you can sit back and watch the games unfold. The points will be updated in real-time, and you can see how your team is performing.

5. Win prizes: At the end of the contest, your team’s final score will determine whether you win a prize or not. The top performers in each contest will receive cash prizes, which can be withdrawn from your DraftKings account.

Strategies for Winning on DraftKings

Now that you understand the basics of DraftKings, it’s time to discuss some strategies for winning. Here are some tips and tricks that can help you improve your chances of success on DraftKings:

1. Do Your Research

One of the most important aspects of being successful on DraftKings is doing your research. This means staying up-to-date with injury reports, player performances, and any other relevant news that could impact your lineup. You should also analyze statistics and trends to make informed decisions about which players to draft.

2. Understand Scoring System and Rules

Each sport on DraftKings has its own unique scoring system. It’s crucial to familiarize yourself with these rules and know which stats are rewarded with points. For example, in basketball, rebounds and steals are worth more than points scored, whereas in football, touchdowns hold more weight. Additionally, pay attention to any roster restrictions and salary caps to ensure you create a well-balanced team.

3. Diversify Your Lineups

One of the keys to being successful on DraftKings is diversifying your lineups. Don’t put all your eggs in one basket by drafting the same players on multiple teams. Instead, spread out your picks and consider different strategies for each lineup. This will increase your chances of winning and minimize the risk of losing everything if one player underperforms.

4. Keep an Eye on Player Ownership

Player ownership refers to the percentage of lineups that have a particular player in them. It’s important to keep an eye on this as highly owned players can either make or break your lineup. If you want to differentiate yourself from the masses, consider drafting some lesser-known players that could potentially have a big game.

5. Utilize Projections and Lineup Optimizers

DraftKings offers tools such as projections and lineup optimizers to help you set your lineups. These tools use algorithms to predict player performance and suggest the best possible lineup for your entry fee. While these tools can be helpful, they should not be solely relied upon as they are not always accurate and can’t account for unexpected factors like injuries.

The Pros and Cons of DraftKings

Now that we’ve covered how DraftKings works and tips for winning, let’s take a look at some pros and cons of using this platform:

Pros

• Fast-paced gameplay: DraftKings offers daily contests, making it more exciting and fast-paced compared to traditional season-long leagues.
• Variety of sports: With over 15 different sports available, there’s something for everyone on DraftKings.
• Potential to win big: Some contests offer huge cash prizes, making it possible to earn significant amounts of money with the right lineup.
• User-friendly interface: DraftKings’ website and app are easy to navigate, making it accessible for users of all levels.
• Social aspect: DraftKings offers private contests, allowing friends to compete against each other.

Cons

• High fees: DraftKings takes a percentage of the prize pool, which can add up significantly if you enter multiple contests.
• Risk of losing money: As with any form of gambling, there is always the risk of losing money on DraftKings.
• Not legal in all states: DraftKings is currently only available in select states where daily fantasy sports are allowed.

Conclusion

DraftKings has revolutionized the world of fantasy sports by offering a fast-paced and exciting alternative to traditional season-long leagues. With its user-friendly interface and potential to win big, it’s no surprise that millions of people have joined the platform. However, as with any form of gambling, it’s important to remember the risks involved and to always stay informed and responsible. We hope this guide has given you a better understanding of how DraftKings works and how to improve your chances of success. So why not give it a try and see if you have what it takes to come out on top in your next DraftKings contest?