In the recent years the process of fantasy sports has been getting very popular among the sports fans. Usually hundreds and millions of people have been participating in different fantasy sports leagues and tournaments from different different parts of the world. In the Fantasy sports competitions the participants make team from the professional sports league according to the statistical performance of the chosen players. The leagues consist of the NFL, NBA, MLB, NHL and other popular teams. Many people these days have a wrong view towards fantasy sports competitions, they consider it as gambling. The sports fantasy leagues are not any form of gambling but they are considered as “game of skill”.
Meaning of Fantasy Sports
Fantasy sports is a type of game where the participants create a virtual team of real-life athletes who compete with each other on the basis of the statistical performance of the chosen players of the certain league. To enter in fantasy sports competition the participants have to pay an entry fee to successfully enter the league and start to compete for the prize pool. Even though the fantasy sports programs involve a chance element but still the game is called a game of skill as the result of the game is highly affected by the knowledge of the participant, his strategy making skill and the decision-making skills.
Meaning of Gambling
The word gambling refers to the wagering of money or anything which has high value on any event which can have a uncertain outcomes in the hopes of winning additional money or goods. Gambling can take place in many forms like casino betting, sports betting and lottery betting. The main feature of gambling is that it has a chance element which can be risky, in the chance element of gambling the factors that will affect the outcomes of the match are not under the control of the player. There is a huge risk involved in gambling, if a person wins then he gets the money and if the person loses the person loses his money whereas in sports fantasy tournaments the player’s knowledge, strategy and decision-making skills plays a huge role in winning and losing.
Difference between Fantasy sport and Gambling
The key differences between fantasy sport and gambling are as follows:
One of the key differences between gambling and fantasy sport is that, gambling is a chance based thing where as the fantasy sport events are skill based. In gambling the result completely depends upon chance, which means that the player does not have any control over the result. Sport Fantasy events are quite different from gambling as their results can be affected by the knowledge of the participant, decision making abilities and strategic skills. For example if someone bets on a roulette in a casino the outcome will depend on pure chance and its not in the hand of the participant.
Another key difference between gambling and decision making is that of strategy and decision making. While gambling someone does not need to strategize or make any important decisions. On the other head while making teams for fantasy sports tournaments the participants must research on the available players and much more, they have to strategize their team according to the injuries, match ups and other factors effecting the team for the whole season.
Both, gambling and fantasy sports have different legal status. Since the fantasy sports is a game of skill it is considered legal in most of the jurisdictions on the other hand gambling is deemed to be illegal since it is a game of chance and it can be risky.
Gambling and sport fantasy betting can have short-term and long-term consequences. Gambling involves players placing bets on a single event which has short term outcomes. The sports fantasy events require the participants to draft teams of players for the whole season and they have to make decisions respectively. The longer time period in sport fantasy tournaments allows the participants to use better use of their skills and knowledge throughout the season.
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Fantasy sports is considered a game of skills rather than gambling due to various reasons. There is a level of skill required to score high in fantasy sport events whereas gambling only has chance element. There are low financial risks involved in the fantasy sports in comparison to gambling which can be risky and addictive. Many people could still consider sports fantasy as a way of gambling but there are various differences between the two as the fantasy sports involves much more skill.