If you have ever participated in online gambling, then it is likely that you have used either FanDuel or DraftKings.
Both FanDuel and DraftKings are leaders in their industry, and they are among the largest fantasy sporting companies in the whole of the United States.
But, even if you have used either FanDuel or DraftKings (or both), then this doesn’t necessarily mean that you understand how they work.
The world of gambling can be difficult to understand, and in particular it can be difficult to figure out how these companies are able to make a profit. Especially when they have to pay out large figures of winnings.
In this guide, we’ll be taking a look at what both FanDuel and Draftkings are. We’ll also be taking a look at the difference between FanDuel and DraftKings. So keep on reading to find out more!
What Is FanDuel?
First things first, let’s take a look at what FanDuel is. FanDuel is an online gambling company that was founded in 2009. Since then, the company has grown massively, and it is now seen as the “premier gaming destination in the United States”.
FanDuel offers a couple of different styles of online gambling, including sports betting, online casino and online horse racing. However, the style of gambling that is behind FanDuel’s extreme success is daily fantasy betting.
Fantasy betting is a style of betting where you put together your own virtual fantasy team. Each player in your team will accumulate points based on statistics, and this will ultimately influence if you win or lose your bet.
Fantasy betting is a fairly new concept, but it is very popular, and it is one of the main reasons why people love FanDuel. Fantasy betting is also offered by DraftKings, and that is why these companies are so often grouped together.
With that in mind, let’s take a look at what DraftKings is.
What Is DraftKings?
Now that we know what FanDuel is, let’s take a look at what DraftKings is. DraftKings is an online gambling company, just like FanDuel.
While FanDuel offers a couple of different styles of betting, DraftKings primarily focuses on fantasy sports betting, and they run this every single day.
DraftKings offers fantasy sports betting for a number of different sports. This includes soccer, American football, NBA, MMA, MLB, NHL, CFL, NASCAR, eSports, and golf.
So, no matter your sport of choice, there is a good chance that you will be able to create a fantasy team to bet on.
As well as catering to lots of different types of sports, DraftKings also allows you to bet in a number of different ways. This includes classic, multiplayer, head to head, and lots more.
In short, the company offers something for everybody who wants to participate in online fantasy sport betting.
It is worth noting that DraftKings does offer casino and sportsbook betting. However, you simply need to take a look at the homepage of their website to see that fantasy betting is at the heart of this company.
Now that we know what both FanDuel and DraftKings are, let’s take a brief look at the differences between the two before taking a look at how they work.
What Is The Difference Between FanDuel And DraftKings?
Well, as you have probably already guessed, FanDuel and DraftKings are very similar companies. This is primarily because they offer very similar services to one another, in that they both primarily focus on fantasy sports betting.
However, there are some differences between the two. As we have mentioned, FanDuel offers more services than DraftKings. For example, FanDuel offers the same services as DraftKings, plus online horse racing on top.
As well as offering extra services on top, FanDuel also tends to pay out winnings a lot quicker than DraftKings. But all in all, these are the only real differences between the two companies.
Now that we have covered both FanDuel and DraftKings, let’s take a look at how both of these companies work.
How FanDuel And DraftKings Work
As we have said, the world of online gambling can often be confusing, and fantasy gambling is even more confusing. So, let’s take a look at how fantasy sport betting works.
Well, fantasy sports betting works similar to how any sort of fantasy game works. In principle, you create your own fantasy team and compete against opponents.
The performance of your fantasy team will ultimately determine if you, or your competitor, wins. Fantasy sports leagues have been around for a long time, but betting on them is a much newer concept.
Essentially, you will create a fantasy team by selecting players from multiple teams within one sport to create your own fantasy team. In each game that those individual players play, they will earn points based on their performance.
The betting comes into it as you can place financial wagers with other people who have created their own fantasy teams. The winner will be the person whose team performs the best, and gets the most points.
When you set up your fantasy team, you will decide how long you want to play for. You could set up a fantasy team that will play across the entire season.
Alternatively, you could set up a fantasy team that will just last for a single tournament. Ultimately, what you decide will depend on the sport that you choose.
Fantasy sports betting has become very popular because it is often considered a lot more fun than traditional sports betting. With fantasy sports, you are closely involved with your team as they select the players.
All in all, this can make the game more enjoyable, and that is what makes this style of betting so different.
In short, FanDuel and DraftKings are both companies that offer fantasy sports betting. Fantasy sports betting works by individuals creating their own fantasy team.
Once the person has created their team, they can then place bets on their team, and compete against others in their fantasy league.
If you want to find out more about how this style of betting works, check out the guide above. Thanks for reading!