INDUSTRY FORUM

Comments

  • zbark2

    • 168

      RG Overall Ranking

    • Ranked #18

      RG Tiered Ranking

    For the past 2+ years I’ve been that guy who has a full time job and sneaks in DFS when he can after work.

    Slowly but surely, Ive grinded my bankroll to over 5 figures. Knowing that I’m a positive player without even putting my full focus on DFS, Ive been considering the idea of playing full time. It is truly something I enjoy and my favorite hobby.

    If I were to go for it…

    My one question is what is the lowest bankroll that full-time players feel comfortable with when starting DFS as their main source of income? Is a 5 figure bankroll enough to get started full time?

    Any pros out there that can give advice of what they started with?

    Thanks!

  • draped

    @zbark2 said...

    Thanks all for the responses. Didn’t think I would see this many, thanks again!

    I was very board in my original post. My overall ROI since starting two years ago is 8.2% in the three main sports using the DFS Analyzer. Take the past 7 months, from Aug. 28th of 2016 and my ROI is up to 13%. I started with $20 bucks on Opening Day in April two years ago and haven’t looked back. Ive slowly worked my way up to over 16k in overall profit.

    I’m mainly a cash game player, grinding those every day but i do my fair share of gpp’s as well and have hit some high finishes in some tournaments over my DFS timeline.

    I see DFS as an enjoyable way to where i can match my current salary at my job which is a middle school teacher. Im young, but getting out for the summer soon, I see this as the perfect opportunity to take a shot and see if i can do DFS full time.

    Seems to me some of the responses are suggesting over 100k to start? That seems a little outlandish. If i can make 40k a year, id be happy with that.

    Any other thoughts/responses? These are very helpful!

    Thanks

    Some calculations. Lets just take your ROI for the past 7 months, so 13% (which it will probably go down if you start entering higher stakes and its also higher than your sustained ROI). If you want to make 40k a year that is $23,333 for a 7 month span. That means you would need to invest about $180,000 over those 7 months. Lets say there are 7*30=210 days over those 7 months and you play each day. That means you need about $857 in play each of those days, which at 5% of your bankroll would be a bankroll of $17,140.

    Now obviously this is not exact because as others mentioned you need emergency funds, your ROI will probably go down as your buy-ins increase, cold streaks, etc. I still think doing DFS full time is not a smart move unless you have a massive amount of money to fall back on and/or you have proven to be profitable at high buy-ins over an extended period of time and/or you have some sort of occupation to fall back on. But good luck if you do.

    P.S. also let me know if I screwed this up somehow.

  • superstars92

    • 141

      RG Overall Ranking

    • Ranked #19

      RG Tiered Ranking

    @zbark2 said...

    I see DFS as an enjoyable way to where i can match my current salary at my job which is a middle school teacher. Im young, but getting out for the summer soon, I see this as the perfect opportunity to take a shot and see if i can do DFS full time.

    Wait you are a middle school teacher? Then my advice is definitely don’t quit your job. You can easily do both right? For example in the summer, there’s no school so you can just do DFS. During the school time period, you probably get off work at around 4:30? That would make it feasible you can get back home and do research and submit by 7. Of course if you are on the West Coast, that might be the only issue. However if you live in the Midwest or on the East Coast, doing both should work out.

    I would never be a full time DFS player, even if I had 10 million dollars in my bankroll. It’s not just about the fact my actual job has great upside even for my age, but the health wise/social wise I feel like doing full time DFS takes a major toll.

  • Messiah717

    Keep your job and benefits and keep doing what you’re doing for the extra money. That’s the best advice you will get.

  • XFactor007

    I thought ROI over 10% in cash games is really good…

  • MrFantasy

    @XFactor007 said...

    I thought ROI over 10% in cash games is really good…

    Honestly anything over 5% nowadays is pretty good. Keep teaching. Play for fun and hopefully you continue to make some nice spending money on the side.

  • Roma315

    @SelfCharmer said...

    You can start your own thread if you want appraisal on your own results…

    I have with my own results to gauge where I am in the world of DFS. Just trying to let this guy know it’s not easy to do. Plus with less new players playing DFS the fields will continue to get harder.

  • mellofellowsu

    @zbark2 said...

    Seems to me some of the responses are suggesting over 100k to start? That seems a little outlandish. If i can make 40k a year, id be happy with that.

    Well we all have different full time jobs/careers here, and we live all over the country, so we naturally have different salaries and thus different lifestyles. I would go broke on $40k a year but I live in San Diego. In Louisiana where I’m from, it would be doable.

  • ThatStunna

    • 13

      RG Overall Ranking

    • Ranked #2

      RG Tiered Ranking

    • 2016 DraftKings FFWC Finalist

    • 2017 DraftKings FBWC Finalist

    40k without benefits is a lot lower than 40k with benefits, particularly as you age. You also need to figure out whether you’re serious, in which case you should be in a state with a low cost of living. Opportunity cost is also a big factor; if the industry kaplodes in the next few years, you’re the former teacher that tried to be a professional gambler. (I doubt people considering you will know the difference between gambling and DFS.)

    That said, giving it a shot over summer break is a good idea. Just don’t take dumb risks just to maybe get out of the next school year. Big wins are good; watching that big win go back to zero takes away all the pleasure of the win and then some.

  • Cpjttogether

    Thats #18 right above me. he is a winner. I appreciate hearing the best players thoughts on whats possible and whats not in dfs.

  • escot4

    • x2

      $2M Prize Winner

    • 2016 DraftKings FFWC Champion

    @ThatStunna said...

    That said, giving it a shot over summer break is a good idea. Just don’t take dumb risks just to maybe get out of the next school year. Big wins are good; watching that big win go back to zero takes away all the pleasure of the win and then some.

    Adding to that point, if you do have a big win over the summer, make sure you cash out the majority of that money. Yes you should add to the bankroll as well, but when profitability is the goal, the last thing you want to do is risk losing the big score that already happened.

  • pinstripeblue

    dont be a fool..keep your day job!

  • mwgdfs

    you mentioned you would be happy with making 40k per year playing DFS. Living on 40k sounds like a terrible idea.

    Here’s some advice, keep your day job until you hit a few 6 figure GPP’s then revisit the idea

  • kieff5280

    • Blogger of the Month

    I wouldn’t do it since you started a career… How are you going to explain a gap in your resume? If you don’t think you will ever work again, I am in my 30s and will probably need to work another 25-30 years before I can retire. Can’t do DFS for that long…. Even if I won a milly-maker, that isn’t enough to live off of for me for the rest of my life.

    Do what everyone else is saying: keep your job, get the steady income, the benefits, the retirement, etc…. Live the dfs life over the summer and see how you do.

  • zpruitt3

    shove all in on opening day MLB and quit your job if you double up

  • Vitricate

    It really comes down to what type of person you are. Life is just like DFS, you can choose the option that is the safest and has the highest guaranteed floor but limited ceiling which is what you are doing now(Teaching), or you can pick the option that has the highest ceiling but has the chance to come crashing down on you if you fail to gain prolonged success(DFS Full-time). I am currently using DFS as my main income but I am only 20 years old and am using it as a pathway to gain investment money for other endeavors. I do not plan to spend my life playing DFS because the industry seems to be a bit too volatile for me to plan 20 years of my life around DFS. I see it as a financial stepping stone for the next couple of years(winning a 6-7 figure GPP etc.)

    Anyways my advice is follow what you think is most interesting to you, if you are fine with teaching then stick with it and do what you are doing now, if you are unsatisfied enough to quit your job to attempt to use DFS as your sole income then I would tell you to try it. Most people here are giving you advice based on the financial part of it but what it really comes down to is how happy you are in your current situation relative to following your passion for DFS and seeking out success. Just know that you can fail and nothing is guaranteed but do what makes you happy. Keep in mind though that the DFS landscape could change massively over the next few years so like I said earlier I wouldnt plan the next 20 years of your life around DFS cause it isnt guaranteed to be around forever just yet.

  • depalma13

    @zbark2 said...

    Seems to me some of the responses are suggesting over 100k to start? That seems a little outlandish. If i can make 40k a year, id be happy with that.

    You need 100k in capital. That is money that can never be used for anything but entry fees. You don’t get to live off of any of it.

  • depalma13

    @Vitricate said...

    Most people here are giving you advice based on the financial part of it but what it really comes down to is how happy you are in your current situation relative to following your passion for DFS and seeking out success.

    Just curious, are you on your parent’s health insurance policy or are you paying for it yourself? If you are paying for it yourself, do you have enough money set aside to cover your deductible?

    Being happy is great, until reality smacks you in the face.

  • FightingLikeBeavers

    Nobody can tell you what the right answer is. Things to consider:

    1. How much do I like my current job? Would I have a significant boost in quality of life if I left (i.e. less stress, more time to do x y and z etc)?.
    2. How easy would it be to get another job if I needed to?
    3. Would I potentially jeopardise anyone else financially or emotionally by doing this (e.g. family, girlfriend, roommate etc)?
    4. What is my current burn rate? How long could I support myself without any profit from DFS? Are there ways that I can reduce expenditure without having a significant negative impact on lifestyle etc?
    5. How will I feel when I am on a big downswing and DFS is my only source of income? (This WILL happen).
    6. Is it possible to reduce hours at my current job or work from home rather than quitting completely? It sounds like the summer holidays might be a good trial period.
    7. How many additional hours would I put into DFS if I didn’t have a full time job? If the answer is not many, how would I spend the extra free time to make leaving my job worthwhile?
    8. What is the worst case scenario if things don’t work out?
    9. What are my goals 5-10 years from now? DFS won’t be around forever. Would I want to go back to teaching, or do I have other goals that could be achieved more easily by quitting?
    10. Am I happy to live in my current location for the forseeable future? DFS is only legal in a small % of places worldwide.
    11. Will I be able to put DFS first and avoid doing other things on certain evenings/weekends etc? Full time DFS allows you to be flexible with your working hours, but not fully.
    12. Do I want to give this a go because I am really passionate about succeeding in DFS, or because I am not very happy with my current job/lifestyle etc?

    There are obviously lots of factors to consider but that is a start imo. $16k roll is nice but realistically you would probably need to withdraw a large portion of that for living expenses unless you already have a lot of spare money saved, which means you would probably have to drop down in stakes straight away. Don’t let anyone tell you that it’s a stupid decision if you have properly thought out all of the pros and cons and are passionate about it, but make sure you do consider everything carefully before you jump into anything.

    GL

  • yountingly

    • 332

      RG Overall Ranking

    • Ranked #57

      RG Tiered Ranking

    There are some really good answers in this thread so far so props to those people. From health benefits, living expenses, explaining the gap in the your resume when you do back to work (as a teacher, no less), there are so many factors outside of DFS alone that should considered greatly.

    Man, I’d love to do this for a living. It’s my favorite hobby (ok, maybe second favorite, lol) but I make a really good living, have good benefits not to mention a nice sized mortgage, wife and kids to support month in, month out. I like to vacation and take days off or as in summer since I’m not big on baseball, weeks off from DFS so I’d never consider this full time. I’d be fun, though, to do it more than I do now. That’s for sure.

  • MrMadness001

    The way the industry has changed I would think twice before just quitting my day job to be a full time DFS player. Not saying DFS is going anywhere but it has changed big time where pro players aren’t seeing the same huge payouts they did when it was more of a wild west scenario.

    I’m sure you are in some type of union if you are a teacher. Not sure if you have a pension or something like that but if you are a family man the cost of the benefits alone without that job would be a pain in the ass to deal with.

    As others have said you have summers off so you basically can be a semi pro DFS player in July and August playing MLB and Golf. Keep the job and just keep grinding on the side.

  • SteveM

    @zbark2 said...

    I see DFS as an enjoyable way to where i can match my current salary at my job which is a middle school teacher. Im young, but getting out for the summer soon, I see this as the perfect opportunity to take a shot and see if i can do DFS full time.

    Being a teacher gives you the perfect opportunity to test-drive being a pro. If you play MLB, there you go. Take your summer vacation and give it a (careful) shot. I think you will find that the advice in this thread is pretty spot-on. It’s different trying to do this as a pro and higher stakes will likely prove less profitable in terms of ROI than your current stakes. Way more of a grind and less fun. Another thing to consider is your tax situation. Depending on if it is/isn’t considered gambling, and if you have to pay S/E tax, you may find that tax hit you take as a pro cuts into your ROI more than you’d anticipated.

  • MrMadness001

    Not to be a shill but if you want to see what it’s like to go from normal everyday guy playing DFS to pro you should read Daniel Barbarisi’s book Dueling with Kings. Guy was a beat writer for the Yankees and started playing DFS on the side. Then decided to go full time playing. It’s a good read and he wound up going from fish to shark but it wasn’t easy.

  • Messiah717

    @MrMadness001 said...

    Not to be a shill but if you want to see what it’s like to go from normal everyday guy playing DFS to pro you should read Daniel Barbarisi’s book Dueling with Kings. Guy was a beat writer for the Yankees and started playing DFS on the side. Then decided to go full time playing. It’s a good read and he wound up going from fish to shark but it wasn’t easy.

    He’s a really good example of the ups and downs and what one would really experience in trying to take on DFS as a full time career. One thing to keep in mind about Barbarisi is that he started his quest with a book deal already in place. Also, even to this day he does freelance writing work while trying to make as much as he can in DFS. He’s done well at times but has also incurred some hefty loses. As it pertains to the OP what would you do if you quit your job, incurred loses and had nothing to fall back on like Barbarisi does?

  • petteytheft89

    • 8

      RG Overall Ranking

    • Ranked #8

      RG Tiered Ranking

    • 2018 DraftKings FBWC Finalist

    • 2019 DraftKings FBWC Finalist

    I would not recommend it. PM me if you have any questions but like most things, it’s more fun as a lucrative hobby than as a full time job.

  • X Unread Thread
  • X Thread with New Replies*
  • *Jumps to your first unread reply

Use our links to sign up and deposit on sites listed in this thread to get these bonuses:

  • FanDuel

    Get 1-month of RotoGrinders Premium for FREE (a ~$40value) by signing up through one of our links!

    Learn More
  • DraftKings

    Sign up for DraftKings using a RotoGrinders link & receive our DraftKings Premium content FREE for 1 month. That’s a ~$40 value! No DraftKings promo code necessary!

    Learn More
  • FantasyDraft

    FantasyDraft strives to put players first, with a mission to “provide a fun and fair experience for all.” To this end, the site has a well-built, easy-to-use interface and a the first of its kind in offering “Rake-Free” fantasy contests.

    Learn More

Subforum Index

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. Our goal is to help all of our members make more money playing daily fantasy sports!

Bet with your head, not over it!
Gambling Problem? Call 1-800-Gambler