Fantasy sports can span various sports, such as hockey, biathlon, tennis, and many others. While there are no special restrictions, the most popular options typically include sports like football. The variety of sports available ensures that players can enjoy fantasy sports tailored to their favorite competitions.
Fantasy sports can be played in many formats, such as one-on-one matches, 50/50 games where half of the participants win, and tournaments where several players can win. Each format offers a unique experience, allowing managers to tailor their approach to their preferred style of competition.
There are various prize formats in fantasy sports. Some tournaments are played purely for fun, with physical prizes like sports paraphernalia. Others, however, offer the opportunity to win money, with prize pools growing significantly over time. Money-based tournaments are especially popular, attracting large pools of participants.
Seasonal fantasy sports competitions last a long time and typically cover major competitions like national championships or world tournaments. These are divided into tours, and while managers don't need to make many changes, they must strategize carefully to achieve a good result. An example of this is the Fantasy Premier League, the official seasonal fantasy league of the English Premier League.
Daily fantasy sports cover shorter time periods, such as single-match competitions. Player prices fluctuate rapidly, and managers must build entirely new lineups for each match. Daily competitions are typically played for money, with the largest prize pools available in this format. FanTeam, a leading European platform, is a great example of daily fantasy sports.
Startups in the fantasy sports space are rapidly developing, especially with the rise of blockchain platforms like Sorare. In September 2021, Sorare raised $680 million in funding, with a total of $739.4 million invested since its founding in 2018. Valued at $4.3 billion, Sorare is one of the many innovative platforms changing the landscape of fantasy sports.
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