Cash In on Fantasy Football and Make Money Doing What You Love!
Over half of the 62.5 million people playing fantasy sports were playing fantasy football. But can you make money playing fantasy football?
Mar. 29 2023, Published 8:08 a.m. ET
Every year around Labor Day, football fans get together to “draft” their own fantasy football teams. According to the Fantasy Sports and Gaming Association, over half of the 62.5 million people playing fantasy sports were playing fantasy football. Can you make money playing fantasy football?
Building your own fantasy football team is a great way to enjoy the sport throughout the season. Even if your favorite NFL team isn't doing so well, your fantasy team, comprised of players from various NFL teams, may be killing it.
Most fantasy football players compete against their friends to win a couple of hundred bucks. But if you want to make some serious cash, you could take your game to platforms where you can play against a vast pool of competitors.
What apps can I play fantasy football for money?
You can use several online sites and mobile apps to play fantasy football for money. Two of the most popular platforms are FanDuel and DraftKings.
You can start playing fantasy football on FanDuel for as little as $1. The platform offers different contests where you could win as much as $5 million. If you’re a fan of college football, you can play college fantasy football as well as NFL. With FanDuel, you can play one-on-one against another player or in tournaments with thousands of other players. The site also allows you to pick a new fantasy team every week.
You can also play fantasy NFL or college football on the DraftKings website or mobile app, as well as many other fantasy sports. The platform is currently offering an up to $500 bonus for new fantasy players who sign up on the site before June 30 and deposit at least $5 in their account.
Some websites hold fantasy football contests where you can win some good money. The payouts for these sites can be anywhere from $200 to $25,000 or more. The sites include:
Is playing fantasy football for money illegal?
Playing fantasy football among friends isn’t necessarily illegal. However, if you play fantasy football daily on sites like FanDuel and DraftKings, it may be considered gambling, which is illegal in some states. Because of this possible grey area, daily fantasy football on FanDuel and DraftKings isn't available in Hawaii, Idaho, Montana, Nevada, and Washington. FanDuel isn't available in Connecticut and DraftKings isn’t available in Oregon.
How much money can you make playing fantasy football?
The earning potential for playing fantasy football depends on several factors, such as where you play, what you wager, how many people are in your league, and how many people you are competing against. Realistically, it isn't going to make you rich or give you an income that you can live on, but you can make some extra cash that you can use to pay off your bills or spend on something you otherwise couldn’t afford.
Any money you win playing fantasy football may have to be reported on your annual tax return, so check with a tax accountant about the guidelines.
