I just want to clear something up since it’s been asked a lot. Are there Olympic Pools? No, there are not any after an extensive search. You can bet on a lot of props and lines at any of the good sportsbooks like www.Bet365.com.
Fantasy sports betting sites takes advantage of a loophole in US gambling law by letting people wager legally for real money on fantasy games. This is considered a type of skill game, not pure gambling, so fantasy sports betting websites are actually located on United States land and can accept major payment methods like Visa, MasterCard, American Express, Discover, and PayPal.
Wagering at Fantasy Sports Leagues
Some fantasy leagues last for an entire season while most last for only a single game. You can bet on a single game, for example, and you’ll be matched against another player who wishes to bet on that game. You both then pick your players and the winner is determined by whoever’s players score the most fantasy points.
Sites like FanDuel.com are set up so that you can play head-to-head against a single player or battle it out in traditional leagues. At FanDuel.com, a 10% fee is taken from the winnings. So if you play in a $100 heads-up match and win, you’ll get $180. This is a little stiff, but it’s not much worse than what you would pay in juice at a traditional sportsbook.
Is Fantasy Sports Betting Online Legal?
Fantasy sports betting is 100% legal in the United States with exception to five states; Arizona, Iowa, Montana, Louisiana, and Vermont (laws in these states will most likely change soon to make it legal). In the United States, fantasy sports betting got an exemption from the laws because it is considered a contest of skill. It’s crazy that poker didn’t get a similar exemption, but that’s just how big government politicians think.
Anyways, most fantasy leagues are located right here on US shores. When you sign up and wager at these sites, you do not have to sign up for third party payment processors or worry about your credit card transaction being rejected. You can just pay with your credit card or PayPal and continue on your merry way.
How Does Wagering Real Money in Fantasy Leagues Work?
Playing with money is the same basic manner as normal fantasy leagues. At the beginning of each matchup, you and your opponents draft a team according to the draft rules of the site at which you play.
Once the game begins, you will score points based on the performance of each player on your fantasy team. So if your quarterback throws a touchdown, you’ll get points for that. If one of your defensive players recovers a fumble, you’ll get points for that. You win if your team of fantasy players has the most points at the end of the game or season.
You can play in multiple games every day if you wish and you don’t have to wait for an entire season to get paid. If you want, you can play individual games all day long and collect your winnings the same day. Of course, you can still participate in long term matches as well.
Fantasy sports bettors have the option to play heads-up against each other or they can enter leagues of 5, 10 or thousands of people. More people in the pools means bigger prizes, but that also makes it more difficult to win.