For 99% of people, the answer is probably no. But there are a select few that are playing daily fantasy sports as their full-time career right now, and with the industry still very much in the growth phase, there will likely be a few more people joining that group in the coming year.
I don’t play fantasy sports for a full time living yet. But I can tell you some of the things that you will need to consider if you are even debating making a jump to do this full-time.
Playing Every Sport
If you want to play daily fantasy sports for a living, you have to play year round. At the very least, you would have to play heavy volume for NFL, NBA and MLB. NHL and the college sports aren’t necessary, but you would probably want to play them as well.
And not only do you have to play these sports, you need to be good (and profitable) at them. This will give you year-round income, which is obviously essential for living.
Obviously you have taxes, which everyone knows about. But if this is your primary income, you’ll get likely get hit with the self-employment tax. You also don’t get health benefits or 401(k) matching from DFS sites, like you are probably getting from your current job.
So simply making more money in DFS than you do at your current job isn’t enough. You have to also to account for the cost of replacing those things.
Are you Good Enough?
Being realistic about your talent level is one of the most difficult things to do in daily fantasy. You can chalk up every bad pick/lineup to variance if you want to. And it is really easy to get very confident after a great week/month/season.
But the game is constantly changing and the average new player is getting smarter and smarter as more major sites devote effort to covering DFS. So you not only have to be sure that you are good, but also that you can continue to learn and evolve faster than everyone else.
If you can’t describe exactly what your edge is, then you should not even consider going pro.
The biggest drawback to going pro is that you have no guaranteed income. That can be very scary and extremely stressful, especially if you hit a losing streak at the wrong time. For this season, many of the people that make their living of daily fantasy do that through more than just playing.
There are many ways to supplement your income with guaranteed revenue streams that involve DFS. Some ways to do this are referrals, writing content/hosting live shows for a site, selling resources/tools or coaching other players.
If you plan on going pro, you should find a way to turn your knowledge/skills into a guaranteed revenue stream that can help support you when you hit the inevitable losing streak.
We have an affiliate program that can generate some extra income for your DFS bankroll.
Like I said in the intro, it is probably not a good idea for most people. But everyone’s situation is unique. If you aren’t walking away from a well-paying job or if you are willing to take a paycut for the chance to do this, then it might make sense for you. But just make sure to consider all aspects of “going pro” because it is a lot more complicated than it may seem on the surface.