In the world of fantasy sports, we often talk about improving our skills. Of course, it’s important to be knowledgeable about your chosen sport (or sports), as well as the teams and players that compete within them. But there’s much more to it than that.
As the general manager of your own fantasy sports team, you’re required to research thoroughly, analyze your findings, read and understand numbers, make decisions, and collaborate with others. The more fantasy sports you play, the more refined your abilities in these areas will become.
The crossover between real-world sports betting and fantasy sports has become increasingly blurred too. In fact, some of the leading fantasy sports platforms have graduated to becoming online sportsbooks. The likes of DraftKings and FanDuel are now considered some of the most respected operators in the eyes of OddsChecker based on the strength of their offerings and services.
As with sports betting, you’ll also find countless articles, guides, videos, and other resources online that can help you to hone your fantasy sports skills even faster and further. Bleacher Report has a popular guide to getting your next fantasy football season off to the best possible start. Some of their most popular tips include understanding the league you’re taking part in (research), leaving your allegiances at the door (objectivity), and having backup players for when injuries happen (planning).
However, there is rarely much though given to how fantasy sports can help us in our day-to-day lives. After all, many of the skills that we’ve just touched on can be applied to our professional and personal lives too.
Of course, the primary reason we take part in fantasy leagues is that it’s fun, but if we can take some transferable skills away with us then that’s even better! Here are some of the most common ones you’re likely to pick up.
Managing your bankroll is vital in fantasy sports. One of the key rules to any league is that each participant can only spend a fixed sum on their team. Without this restriction, you’d end up with a league full of identical rosters of all the best players. Adding a budget also makes fantasy sports more reflective of the real world as all professional sports teams have a finite pot of cash to spend.
This is not just useful in picking the optimum players for your fantasy team as bankroll management is vital in games like poker. In popular variants like Texas Holdem, the game is played in rounds where players are dealt a couple of cards each and some are shared amongst them on the table. There are then several rounds of betting, with players given the option to fold or stay in the game. Failing to manage your bankroll will result in you going bust very quickly, so the best players are always careful to bet small and stay in the game.
Not only that, but bankroll management is helpful away from the gaming world. We all have a household budget that we have to stick to, so being able to plan your resources more efficiently in fantasy sports can definitely help here too.
We all have biases, it’s part of being human. However, if we’re not conscious of our biases, they can negatively influence our decision-making. For example, you may have developed a friendship with someone at work. But if you then find yourself in a situation where you need to promote someone, your friendship could cloud your judgment, leading you to pick your pal over a better-qualified and more experienced candidate.
Fantasy sports teaches us to be objective about our player picks. While we may be diehard fans of a particular team, we can’t succeed in fantasy sports by worshipping the ground they walk on and filling our rosters with our favorite players.
Instead, we need to leave our allegiances at the door and select our squad based purely on their merit. This can be hard, particularly at first, because overcoming our biases is a very difficult task.
To succeed at anything, you need to work. Seeing progress in the gym requires you to show up time and time again, acing a test can only be possible with revision, and building a business needs time, patience, and the wisdom to stick to a plan.
This consistency is also vital in fantasy sports. While you will often need to make changes to your lineup, these alterations should be based on your over-arching strategy. If, instead, you just make erratic choices based on your swinging emotions, you’re unlikely to get to the top of your fantasy league.
Therefore, learning to stick to our plan for months at a time is a skill that all fantasy players should embrace.