It’s tough to find success in Daily Fantasy Sports unless you first learn to manage your bankroll. That means protecting your funds, maintaining discipline with your picks, and avoiding common mistakes. From an OG of DFS, here’s the skinny.

"Winning isn’t everything; it's the only thing" is one of the most famous quotes in all of sports.

Attributed to UCLA Bruins football coach Henry Russell "Red" Sanders back in the 1930s, it's also been used in American movies and, famously, by legendary Packers head coach Vince Lombardi.

Why am I sharing this quotation in the opening of a Daily Fantasy Sports (DFS) article?

Simple. While “winning” is essential to achieve success, it isn’t going to take place every week. Bankroll management is the “only” path to long-term profitability.

There is no doubt about it, winning is an exciting and fun outcome. But effectively managing your available funds is the pathway toward staying in the game longer without risking significant losses. DFS players who avoid the tempting allure of life-changing prizes — choosing to instead make disciplined and informed investments — will achieve long-term success.

Mastering DFS Bankroll Management: 3 Tips for Long-Term Success 

Today’s media is saturated with advertisements falsely portraying instant success as an easy endeavor. We are here to tell you this is not how it works. In this article, we will share common mistakes to avoid, how to choose the right contests for your bankroll, as well as outline some simple strategies that can result in long-term profitability. 

1. Treat your budget as another league

The types of games you play and how much you play should directly correlate to your level of risk. I invest heavily in season-long high stakes fantasy football, mainly because I have been playing fantasy for over 25 years and have built my bankroll from winnings earned over that span. My top advice is to look at DFS as additional league. Whatever your entry fee is from those leagues you play in, that should be your budget. 

2. Never chase losses

Just as in life, DFS will have high points and low points mainly due to the high variance associated with player injuries and performance. Unlike season-long leagues, DFS affords you the opportunity to create a new team of players every week. However, it is essential to not chase your losses from the week before by drawing additional funds from your bankroll to enter more entries into contests to recoup what you lost. Stay level and consistent.

3. Avoid over-risking

The more expensive contests will always offer higher payouts. However, if those entry fees are outside of your initial budget, you need to resist the urge. If you are enjoying success, then taking the occasional shot on a larger buy-in is acceptable. Just don’t make it a regular habit. Only re-invest winnings on higher cost contests, never draw from initial bankroll.

Basic Daily Fantasy Bankroll Strategy

No one should tell you which games to invest in. Ultimately, that decision is in your hands. Due to the weekly peaks and valleys of DFS, setting limits is key.

New DFS players should follow a bankroll strategy that affords 95% of your weekly budget on cash games (50/50s, and head-to-heads) with the remaining 5% of your weekly money in large-field tournaments or GPPs. Cash prize games, which offer a more reliable ROI, are the best way to build a bankroll. Despite the appeal of huge prizes found in large-field tournaments, those contests should be kept as a minimal part of your weekly bankroll investments. 

When Are Games Most Profitable?

On average, entering into head-to-head games in the final hour prior to the start of games is a solid approach for several reasons:

  • Knowing the most recent injury updates give you an edge over the competition. Last minute scratches happen.
  • While more seasoned DFS players typically spend the majority of the week tweaking their lineups and total entries, less skilled players just “looking for action” are those who enter in the final 30-60 minutes prior to games commencing. Those are the players you should look to play against in H2H cash contests. 

In terms of GPPs, these games have a maximum number of entrants and thus fill up quickly. Be sure to enter those contests as soon as they post on sites to avoid being shut out. But, as noted above, never use more than 5% of bankroll on GPPs, since the payouts tend to be top heavy and the cash lines are often difficult to crack due to the high volume of entrants.

Strategies for Maximizing Your Bankroll

Before you commence your DFS journey, do some research on each site’s deposit match. As a new player, you’ll often receive a bonus worth the amount you initially deposit. In addition to the sign-up bonus, most platforms offer the chance to earn points by playing on their site or via a referral program. You can use these points to claim free gifts in addition to cash you can use on contest entries. Take full advantage of free promotions as well as all the perks of the loyalty clubs that can instantly help your initial bankroll.

Entering a higher amount of small cash buy-ins is a profitable strategy. The best way to spread out and minimize the downsides of variance (i.e. injuries or a shocking game script) is via sheer volume. Think of it this way, 50 $1 buy-ins affords a higher rate of avoiding dreaded outcomes than only 5 entries with $10 entry fees. 

No model or system is perfect which means there will be weeks when your lineup underperforms. Make sure to predetermine a set amount you're comfortable with losing. For example, in the NFL there is an 18-week season, plus playoff slates. Simply divide your bankroll by the number of weeks you plan to play. 

Preparation + Restraint = DFS Success

DFS offers exciting opportunities but it requires preparation and restraint in order to reach maximum profitability. Selecting the right contests in conjunction with the right players and displaying discipline with your bankroll are vital. Of course cashing in tournaments can increase your weekly limit, but never over-extend.

Whether you prefer cash games, H2H showdowns or GPP tournaments, developing a strict plan of attack is crucial to success. Following the proven guidelines set forth above can help position you for exciting times. 

No matter how big or small your budget is, the free tools offered on the Sleeper app can put you on the path to long-term success. Try Sleeper Picks today by signing up via the website or downloading the app to start your DFS journey!