Hello Daily Fantasy Sports fans and welcome to my weekly column for beginners. I hope all of you had your fill of family and food for Thanksgiving and you’re ready to get back to DFS Hockey. Early in the hockey season I detailed strategies to help you build a daily lineup, and recently I have been advising you on ways to maximize your ability to win money based on the contests that you choose to play. That’s where I will invest my words this week; I will focus on multiple contest entries. I will discuss the strategic aspects of entering different lineups in one or multiple contests, a single lineup in multiple contests and entering the same lineup multiple times in the same contest.
There are multiple ways to utilize strategies that enhance your chances of cashing and I touched on the first one last week, but I want to expand on it now.
Multiple Entries – Multiple Lineups
One common strategy in all DFS sports is to enter multiple, different lineups in one contest. This approach provides an opportunity to win many times while protecting you from an off night where you rely heavily on one group of players. The downside is that it can limit how much you can win. When you start many player groupings then the odds are a few of them are going to have an off night and if you don’t group them properly you could lose all of your contests. This is a safe, cautious approach and with each additional lineup you use it provides you with insurance on your investment. It’s a solid strategy.
You can use this strategy in two ways: by entering multiple, different lineups in one contest or multiple contests. By entering multiple lineups in many contests, you create the possibility (a slim one but a chance none-the-less) that either because of a larger- or smaller-sized contest or a different makeup of competitors, you might be able to cash even when that lineup under-performs your other ones.
Multiple Entries – One Lineup – One Contest
Another strategy is to enter the same contest multiple times with the same lineup. This is an aggressive approach that can be used with a few different goals in mind.
- You can be plain and simply greedy. You want to win multiple times with a chance for a big payday in one contest. There is nothing wrong with that, but with greed comes risk so be fairly warned.
- FantasyDraft has many different contests that have different prize pools, different numbers of entries allowed and different numbers and percentages that cash. I used this strategy last night. I entered three times in NHL $750 Blue Line. This contest had 168 players, the top 42 cash and the entry fee is $5. These contests have tiered payouts. First place wins $125 while 42nd wins $7.50. The reason why I chose to play three times in this contest was because of the $5 entry fee compared to the biggest NHL contest FantasyDraft runs, which is NHL $1,000 Power Play. The maximum payout for that contest is $200 while the maximum for NHL $750 Blue Line is $125. I chose to invest $15 in one contest and three entries with a chance to win three times (hopefully $125 three times) rather than invest $20 with a chance to win $200. I decided to limit my investment while still having, in a best-case scenario, the chance to cash for more money.
Entering the same lineup multiple times in the same contest doesn’t do anything to enhance your chances to win. It doesn’t provide security for your investment or insurance against an off night from any of your players either, but it allowed me to invest less of my bank while still having a chance to win the most money of any contest. It may not be the best strategy and it certainly isn’t the most prudent, but purely from a risk/reward perspective, I liked the idea of spending $15 on three entries as opposed to $20 on one and this time it worked. I cashed three times for $30 (18th place). We will see if this strategy works over the long haul because with all the strategies I discuss in this weekly article, I try and re-try them to see how it plays out over the long run.
Multiple Entries – One Lineup – Multiple Contests
A third strategy is to enter the same lineup in multiple contests, whether it be the same type of contests or different contests and that is where the strategy is in this approach.
There is a small benefit to entering multiple contests with the same rules and guidelines, the same cost, the same number of entries and the same payout structure. You will face a different group of competitors in each contest and there is a small window for you to win in one contest and lose in another, but that isn’t why you want to use this strategy. The best way to utilize this approach is to enter many different contests with different payout structures.
FantasyDraft has many contests that have different entry fees, different payout structures, different numbers of entries per contest and different numbers of competitors that cash in each contest. If you are going to enter the same lineup in a multiple of contests the best strategy is too enter a variety of different contests.
Some contests you have to finish in the top 50%, some the top 25%. Some contests you win more the higher you finish (Power Play and Blue Line) while others you can compete head-to-head against one person or play in a Double Up where you have to finish in the top 50% of 22 entries to double your entry fee. Then there are Triple Ups where there are only ten entries, but you need to finish in the top three with a chance to triple your money. By spreading your entries around you lessen your risk while maintain your potential reward.
By entering many different contests with varying numbers of entries cashing it de-emphasizes the importance of your lineup choices (you are only using one lineup). If you do well you can win all of your contests and maximize your investment, but if you have a so-so night you can still win in the contests that a higher percentage of players cash while losing in some of the contests that require you to finish higher than more competitors. It spreads around your risk, provides some insurance in case a few of your players don’t perform, while also allowing you a chance to maximize your reward.
Good Luck out there in the jungle that is DFS Hockey.