FanDuel, one of the two large Daily Fantasy Sports(DFS) betting sites where sports fans can try to win money playing daily games in the NFL, MLB, and NBA, is trying to ride the Cryptocurrency wave by offering the "Bitcoin Bowl" this weekend for the first round of the NFL playoffs. FanDuel will offer two contests for its customers, one that is a "Free" contest, and another that has a $3 per lineup entry fee. This $3 contest has a 150 maximum entry limit, meaning a single customer can enter in as many as 150 lineups. The Bitcoin Bowl contests cover the four NFL playoff games this weekend; Carolina at New Orleans, Atlanta at Los Angeles Rams, Buffalo at Jacksonville, and Tennessee at Kansas City.
For those new to DFS and FanDuel, a DFS owner can build a lineup with a salary cap of $60,000. Each player has a salary value, and the sum of all the values must be below or equal to $60,000. A FanDuel lineup consists of one quarterback, two running backs, three wide receivers, one tight end, one kicker, and a team defense. A lineup accumulates points based on each players statistical performance in their respective games, earning points for touchdowns, catches, yards, etc. The FanDuel users that have entries at the top of these contests will win the coveted Bitcoin prizes.
Bitcoin Exploding into the Mainstream
Bitcoin, built on the blockchain technology, is a digital currency(also called a cryptocurrency), that can be used as a store of value to exchange goods and services on a Peer to Peer, decentralized network. This cryptocurrency is not backed by a central bank or government. Bitcoin is not accepted by all vendors or banks, and it is slowly but surely gaining acceptance and usability. Mostly right now, it is a speculative asset, that recently in 2017 saw its price spike from the $900s per coin to its high of over $19,000 per coin. This explosion has minted many early adopters, speculators, and investors as Bitcoin millionaires, such as the Facebook-famed Winklevoss twins. FanDuel is riding the recent momentum of Bitcoin hitting the mainstream and social media.
The Bitcoin Bowl Grand Prizes
After you win the Bitcoin Bowl this weekend, you can dream of the color of the Lamborghini that you will order because you were genius enough to know that quarterback Cam Newton threw for 7 touchdowns. Unfortunately, the odds of winning will be very low. These contests can be very large. Both the Free Bitcoin Bowl and the $3 Bitcoin Bowl will each have up to 999,999 contest entries. So, your single free entry has to perform spectacularly against the other 999,999 greedy wanna-be Bitcoin token owners. Here are how the rewards stack up:
"Free" Bitcoin Bowl: 1st Place Wins One Bitcoin
$3 Bitcoin Bowl: 1st Place wins Two Bitcoins, 2nd Place wins a Half Bitcoin, and 3rd/4th Place wins a Quarter Bitcoin each
If you like Fantasy Football, then I would recommend signing up for FanDuel and entering the Free contest. Why Not? The mobile app is pretty good and you can follow your lineups performance in real time as the games are playing. If you are feeling more confident in your NFL DFS or fantasy football skill set , then why not spend some money on a couple of lineups instead of spending it on that holiday Starbucks peppermint mocha latte?
Conclusion
Bitcoin could be an expensive fad that gets destroyed by government regulators or the next best investment asset class that will continue to mint new millioniares over the next decade. Bitcoin is very volatile and fascinating, especially for the Millennial generation, who trust the Cryptocurrency market more than the traditional stock market.
As a new Cryptocurrency fan fascinated with Bitcoin, blockchain and AltCoins, as well as being an NFL Daily Fantasy junkie, I will definitely take the bait and enter a few contests in the Free and $3 games to try and win some Bitcoin. Although the odds are extremely low to win, you can't win without trying and the cheap thrill of having the chance to win some Bitcoin is worth my entertainment for this weekend while watching the NFL playoff games. Visit FanDuel.com and enter into the Bitcoin Bowl. If it’s successful enough, they may do it again the following week.