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  • Daily Fantasy PGA: Attacking Multi-Entry Tournaments

Managing Your Bankroll

Derek Farnsworth (Notorious)

Derek Farnsworth, aka Notorious, is one of the most recognizable names and faces in all of DFS, thanks in large part to the great advice he gives on a daily basis in RotoGrinders.com’s Grind Down for NBA and MLB as well as the First Look column that gives a preview of the day’s games from a DFS perspective. Before joining the RotoGrinders team, Derek received a Masters Degree from the University of Utah. When he’s not busy providing content, he’s dominating the industry as evidenced by his consistent top rankings in multiple sports. Farnsworth provides expert analysis for RotoGrinders Premium members on a daily basis during the NBA season and has also been nominated for five different Fantasy Sports Writer’s Association (FSWA) awards.

Bankroll management is critical to long-term success in daily fantasy sports, whether you play cash games or tournaments. You can be a winning player, but if you have bad bankroll management, you may end up with nothing to show for it. Everyone’s bankroll management techniques are different and ultimately, you have to find a system that works for you. The key is to set strict rules and to stick to them.

My bankroll management philosophy is on the more conservative side. For a given slate of games, or in this case, for a single golf event, I will put into play up to 10 percent of my bankroll. The 10 percent includes all of my contests on all sites and it is the absolute maximum amount that I will put into play. Generally, I will put around five percent of my bankroll into play each night in the daily sports such as baseball or basketball, and then put five to ten percent of my bankroll into play in the weekly sports such as football or golf.

One of the most common questions in daily fantasy sports is how to allocate your bankroll between cash games and tournaments. I’ve always had more success in cash games, so I generally put 85 to 90 percent of my nightly bankroll into cash games and 10 to 15 percent of my bankroll into tournaments. I always like to have a little bit of exposure to tournaments, because there are nights when your team is going to be at the top of the leaderboard. You want to make sure that you take advantage of those occasions, as you don’t want to take first place in all of your double-ups and only get double your investment back.

The 10 percent per night/week rule allows you to play more when you are doing well and to cut back when you go on an inevitable cold stretch. This is critical because the initial reaction after a bad night/week is to try to win it all back at the next possible moment. If you don’t abide by this rule, it will lead you to chase your losses, which is the absolute worst thing that you can do in daily fantasy sports. An entire bankroll can quickly evaporate if you try to chase your losses.

Now that we’ve covered general bankroll strategy, let’s talk about what to do in these massive multi-entry events. One lesson that we can learn from understanding the payout structure of these Millionaire Maker tournaments is that we should never over-extend our bankroll in any single tournament. The upside is certainly there, but with such a top-heavy payout, the majority of people playing in these tournaments will end up losing money.

Since these tournaments are a losing proposition for most of the players who enter them, should we really be putting 10 percent-plus of our bankroll into play just to try to chase that million dollars? I’ll give you a little hint: HELL NO! Once again, I’m all for chasing that big life-changing payday, but we shouldn’t over-extend our bankroll to do it.

Personally, I try to limit my entries into these big tournaments to two to three percent of my bankroll, at most. The good news about entering 100 lineups is that you know you that are going to get some type of return back. The bad news is that for most people, it’s not the return that they are looking for. If using two to three percent of your bankroll doesn’t allow you to have as many entries as you’d like, all is not lost. There are ways to gain entries into these events without over-extending our bankroll. The best part is that you don’t have to pay full price for some of the entries into the contest.

One way that I gain entries into the big events is to play in the qualifiers that run every day. They usually have the qualifiers for all of the major sports and the buy-in typically ranges from $0.25 to $5. The best part about these qualifiers is that they don’t always fill, so there is a ton of overlay that adds up over time if you play in them every night. If you know that you are going to have 50 entries into the Millionaire Maker, why not try to win some entries into it that aren’t going to cost you the full $20 entry fee?

Another way to get entries into these big events without putting too much pressure on your bankroll is to build up your Frequent Player Points on DraftKings. It can be tough not to continuously spend them, but if you save them up, you can buy tickets into these big tournaments and it will never technically come out of your bankroll.

At the end of the day, these Millionaire Maker events are a ton of fun and there is nothing like having a team that is in the mix on Sunday, but we shouldn’t over-extend our bankroll to chase that million dollars. Use proper bankroll management for these tournaments and use the qualifiers and Frequent Player Points to rack up some entries that won’t directly come out of your bankroll.

Bankroll management is critical to long-term success in daily fantasy sports, whether you play cash games or tournaments. You can be a winning player, but if you have bad bankroll management, you may end up with nothing to show for it. Everyone’s bankroll management techniques are different and ultimately, you have to find a system that works for you. The key is to set strict rules and to stick to them.

My bankroll management philosophy is on the more conservative side. For a given slate of games, or in this case, for a single golf event, I will put into play up to 10 percent of my bankroll. The 10 percent includes all of my contests on all sites and it is the absolute maximum amount that I will put into play. Generally, I will put around five percent of my bankroll into play each night in the daily sports such as baseball or basketball, and then put five to ten percent of my bankroll into play in the weekly sports such as football or golf.

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About the Author

  • Derek Farnsworth (Notorious)

  • Derek Farnsworth, aka Notorious, is one of the most recognizable names and faces in all of DFS, thanks in large part to the great advice he gives on a daily basis in RotoGrinders.com’s Grind Down for NBA and MLB as well as the First Look column that gives a preview of the day’s games from a DFS perspective. Before joining the RotoGrinders team, Derek received a Masters Degree from the University of Utah. When he’s not busy providing content, he’s dominating the industry as evidenced by his consistent top rankings in multiple sports. Farnsworth provides expert analysis for RotoGrinders Premium members on a daily basis during the NBA season and has also been nominated for five different Fantasy Sports Writer’s Association (FSWA) awards.

Instructor

Derek Farnsworth, aka Notorious, is one of the most recognizable names and faces in all of DFS, thanks in large part to the great advice he gives on a daily basis in RotoGrinders.com’s Grind Down for NBA and MLB as well as the First Look column that gives a preview of the day’s games from a DFS perspective. Before joining the RotoGrinders team, Derek received a Masters Degree from the University of Utah. When he’s not busy providing content, he’s dominating the industry as evidenced by his consistent top rankings in multiple sports. Farnsworth provides expert analysis for RotoGrinders Premium members on a daily basis during the NBA season and has also been nominated for five different Fantasy Sports Writer’s Association (FSWA) awards.

RotoGrinders.com is the home of the daily fantasy sports community. Our content, rankings, member blogs, promotions and forum discussion all cater to the players that like to create a new fantasy team every day of the week.

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