Gene Therapy: Sweet Sweet Fantasy!
by Gene Clemons
The 1st time I ever tried sports betting I was convinced that it was the easiest thing in the world to do. After all, we were just picking games. I know basketball, I know football, I know baseball so how hard it could possibly be. The first time I looked at a betting line I was shocked by how complicated it looked. There were so many numbers on it. I saw the name of the team and then I saw nine to 10 other numbers that I had never seen before. I thought I was just picking the winner.
The reality was something far more complicated. I immediately realized why Vegas is so rich. We wander into this world as novice but with the ego and the hubris to believe that we know something that everybody else doesn't. And even further than that, we believe we know something that the people who have made trillions of dollars don't know. Only in America can a person walk into another person's profession and believe that they know the business better than that professional yet here we are.
Fantasy sports were different for me as I began to participate because there was no money involved. It was for fun, for bragging rights. But a funny thing happened mid-way through the season. I noticed that not everybody was keeping up with their rosters. One season I remember losing out on making the playoffs because a team went on a four week win streak playing against people who never updated their roster. It was frustrating and ultimately not fulfilling or challenging. My response was to seek out a league that had financial investment. If there was money involved people would be in it to win it until the end. That definitely helped but what I found was that the amount of money really made the difference. A league with a $25 due was not going to keep anyone's attention over a season that lasts five months. The bigger the investment, the bigger the prize, the better the engagement.
That led to the instant gratification of daily fantasy where the prizes are high, and investment could be low. That still achieved the same outcome of keeping people invested and wanting to play again. On a certain level, the daily fantasy contests with thousands of entries reminded me of those 10-team parlays that I used to play when I first began betting on sports. My little $10 bet had the chance to bring back 10 thousand dollars. The chances of me winning were slim to none but because I thought I knew sports and was invested in it mentally, I believed that it gave me an advantage. Clearly, I lost my money like the other dummies who thought the same thing, but I continued to play like that for much longer than I care to admit because of my arrogance. I had the keys to beat the system and that's how the casino has always won. That exact logic is why one day fantasy has made that industry so much money. Everybody believes they have the perfect combination to win it all and of course only one can.
As sports betting slowly becomes legalized in every state, The negative connotations that used to surround sports betting dissipates. Fantasy sports and gambling sites like Fanduel and Draftkings allowed sports betting to be slowly accepted into a society that was obsessed with fantasy football. In essence fantasy was our gateway drug into gambling acceptance. As the money involved with fantasy wagers grew to astronomical levels people began to look at fantasy as a viable source of income and the world of the fantasy analyst exploded. The divide between fantasy sports betting and regular sports betting closed quickly. Now as sports gambling casinos like MGM moved into the space with BetMGM and the many other sites that are ready to go at a moment's notice prepare for this inevitability.
Sports betting and fantasy are definitely here to stay and are going to become a regular part of our sports world. In-game, real-time win probabilities are not just there to make the viewing experience better. These are tools that help influence the next level of sports wagers, the live bet or in-game wager. This allows people to place bets as the game unfolds. The level of engagement that this provides the user only brings them closer to the game and closer to parting with the money in their wallet. After all that's the end game, money. Most of these online sportsbooks will give you free money to bet. They call it free play and it is designed to get you used to gambling, suck you in, and ultimately make wagering on sports a part of your everyday life. This is not a bad thing, after all you can win, but it is a numbers game for them. The more that plays, the more they make, regardless of the game's outcome.
Like anything with gambling, the goal is to be smart and responsible. Whether it is fantasy, sports betting, cards or the stock market, if you are doing it out of desperation, there's a better than likely chance you will fail. If you are doing it for entertainment, you will probably still lose. However, if you approach it as a way to make passive income and you show it the respect you would for any other job, there's the opportunity to come out on top. Never wager what you can't afford to lose. Don't let greed overwhelm you. Little wins are always better than big losses. Parlays are normally losing propositions and the way the sports book would prefer you bet. Imagine if you could add an extra $400 a week to your income, would that make a difference? Of course, it would. So, think consistent winners instead of longshots with big odds. Be boring all the way to the bank or be the most exciting person in the poor house. Your choice.
###
Gene Clemons is a Sports Analyst and Contributor to CWN Sports. His weekly column and podcast - Gene Therapy focuses on Sports, Politics and Social/Urban issues.
