With football season ending, fantasy trading tournaments might just be the next best thing.
As the NFL regular season wraps up, all eyes are turning towards the Super Bowl in just a few short weeks. The biggest sporting event of the year also marks the end of the fantasy football season, leaving many fans doubly bored with their newfound free time and focus. So, what’s a fantasy sports fan to do with their analytical skills in the off-season? Fantasy finance tournaments are a great way to scratch the fantasy football itch while also earning some extra income in the off-season.
What Is Fantasy Finance?
At first, finance and sports might not seem to have too much in common, and that’s true, they don’t. But, fantasy sports and fantasy finance have more of an overlap than you’d think; the only difference is that users pick stocks instead of players. Users can choose to jump into a fantasy trading contest typically lasting 15 to 60 minutes and, using real-time data, they can buy and sell stocks and cryptocurrency in a purely virtual setting. The better users do, the more points they earn. At the end of the day, all players earn rewards based on their performance.
The biggest difference between fantasy sports and fantasy trading has always been the timeline. Sports seasons last several months and fortunes can swing wildly throughout. This kind of long-term excitement and drama is what attracts so many people to fantasy sports. Since many fantasy trading platforms—like StockBattle—have traditionally only offered short-term games of only about 15 minutes, this sort of ongoing engagement hasn’t been available. Until now! StockBattle is getting ready to launch their new fantasy finance tournaments in January 2022 to coincide with the culmination of the NFL season.
Fantasy Finance Tournaments
The new free-to-enter tournaments consist of a series of contests that last 7 days with no limit on the number of entrants. Each week, there will be one tournament that runs from Monday at 11 AM EST and ends at 11 AM EST the following Sunday. Registration for each week closes as soon as the tournament begins, so be sure to sign up in advance.
Fantasy trading tournaments are made up of seven daily contests over the week. Each day, users must draft their virtual portfolio for the day, and at the end of each day, they’ll get an email with their daily results. Scores are tracked in the form of points – the number of points a user earns each day is equal to the number of participants they beat. For example, if there are 100 entrants, the user who gets first place will earn 99 points as they beat 99 people. Results are also tracked in real-time in the Leaderboard tab inside the tournament.
At the end of each week, the points are added up and the top 50 winners each earn rewards from the $200 weekly prize pool with the top prize for free tournaments being $50.
Transitioning From Sports to Finance
While fantasy finance and sports have a lot in common, there are some key differences.
What’s The Same
Let’s start by looking at what similarities exist between these two fields. Whereas the specifics of what is being wagered on might differ, the strategies used are largely the same.
- No Risk, No Reward
Safe bets are safe for a reason. The risk is low meaning that the payoff is equally low. Sure, the Packers will beat the Lions, there’s no debate there and no one is going to offer any returns on that bet. You’ll never win it big betting on the Packers, we all know they’re good.
- Knowledge Is Power
You wouldn’t draft a fantasy roster without knowing the players. It’s the same with fantasy finance. Since games on apps like StockBattle are measured against real-world data, your practical knowledge will give you a significant edge over the competition.
- Make A Game Plan
Don’t just start picking and choosing, you need a strategy. Decide what areas you want to focus on by evaluating which sectors are doing well, where it is likely to rise or fall. Make a plan and stick to it but never be afraid to improvise if the time is right.
- Don’t Put All Your Eggs In One Basket
A diverse portfolio is one of the best practices for investing. In fantasy sports and fantasy trading contests, it’s always a good idea to keep your money spread around. Don’t bet your entire bankroll on one lucky shot. Put some into safe things and hope for a little extra if everything goes well.
While the soundest strategies might work across all markets, there are a few very important differences between stocks and sports.
- The Market is More Complicated
Sure, football is complicated, but it only has one set of rules. The stock market is made of thousands of companies in hundreds of sectors across dozens of countries. Imagine if the performance of a team in the NBA suddenly affected the outcome of a football game, this is a very real issue in traditional markets as the global economy is so interconnected.
- The Market is More Competitive
You might be the biggest sports fan in your league, but when it comes to the markets, you likely can’t compete. The sheer amount of resources that companies put into making the right trades at the right times is immeasurable. When investing—even in fantasy finance—a do-it-yourselfer will always be at a disadvantage compared to the pros.
- The Market is More Random
Sure, sports have an element of chance to it, but the random nature of the markets is on another level. In fact, according to one study, fantasy sports rewards skill far more than stock-picking. No matter how much research you do, world events can sneak up on the market in a way that sports are immune to.
Still Curious? Get Started For Free
The great thing about fantasy finance compared to the real deal is that you can get started for free. Apps like StockBattle offer Freerolls to all users where they can earn real money based on their performance. Further, with the launch of fantasy trading tournaments, users can exploit their knowledge over the long term for no fees. So, if you’re wondering what to do with your free time after the Big Game, check out fantasy finance and put your skills to a new test.