It’s hard not to notice the explosion in the popularity of fantasy tournaments. But why are more players giving these competitions a chance? Can you earn real money in fantasy contests?
The answer is yes, and this guide will cover why these tournaments are an excellent chance for people interested in stocks and crypto to earn some extra money. Keep reading to discover how you can profit from fantasy finance competitions regardless of your market experience!
Why You Should Try Fantasy Tournaments
Tournaments have taken the concept of fantasy contests to the next level. At StockBattle, participants have multiple daily rounds to test their skills against other users. Tournaments last from five to seven days, depending on the option selected. You can adjust your portfolio for each session, but the important thing is to submit it on time.
Adjusting your portfolio ensures you have a new chance to find a winning combination every day. The points you win in each session add up to create the final ranking. Those participants who collected the most points will win hefty prizes.
Other platforms have a different concept. Invstr offers monthly competitions where the best participants win cash vouchers and in-app prizes.
Apart from winning actual cash, here is what makes fantasy tournaments popular:
- Suitable for all traders. Beginners can learn about different assets and become comfortable with reading charts while creating their portfolios. Experienced traders will appreciate the opportunity to use their market knowledge to try and outsmart their opponents.
- Win even when the market is plunging. Your portfolio needs to perform better than those created by your opponents. Even if the overall market is going through a rough patch, you’ll still win by outperforming others.
- A chance to profit with low risk. If you participate in free fantasy finance tournaments, you don’t have to make any investments. But if you want to take the excitement to the next level, fee-based tournaments offer more generous prizes.
- Pick between stock and crypto, or go with both. You can participate in crypto and stock competitions. It solely depends on your preference and which market is your cup of tea.
Use Free Tournaments to Boost Your Profit Risk-Free
If you are a beginner, it’s not about pursuing the biggest prizes. Instead, you need to practice and become comfortable with the market. Free tournaments are the perfect way to see how a fantasy finance platform works.
You have many fantasy tournaments available every week. Most don’t accept late registration, which means you need to enter the competition before it starts. Visit the platform regularly and join as soon as the registration starts. That will ensure you secure your place in the contest.
The number of participants and prize structures vary depending on the fantasy trading tournament you picked. You’ll often find at least $200 in the prize pool, while special contests have $500 in the prize fund. The best participant takes $50 or $80, and other cash prizes vary from $0.5 to $50.
The main advantage of free tournaments is that they are risk-free. You don’t have to pay a participation fee, which keeps you from feeling pressure while playing. Not to mention that the option to earn dozens (or hundreds) of dollars without any risk involved is tempting for any trader.
Join Fee-Based Tournaments for Bigger Prizes
Do you feel like you are comfortable with the market? Is it easy to read charts and analyze price movements and asset volatility? Would you like to take the entire fantasy trading experience to the next level?
It may sound like an advertisement, but if you answered yes, then this is a sign you are ready for fee-based tournaments. The prizes are generous but largely depend on the competition type chosen.
For example, you can pick a tournament with up to 12 participants where the joining fee is $25. The prize pool is $250, which means the top performer can expect a huge reward. Some tournaments require only a $5 fee to join. They might have a large prize pool of up to $2000, but also the upper limit of 600 participants. That means you’ll need to outsmart more opponents to win a reward.
The selection depends on your preference, but also the list of fantasy trading tournaments currently available. Platforms like StockBattle or Investopedia Stock Simulator always have active competitions waiting for you to join.
Apart from tournaments, some platforms offer head-to-head duels. These are classic matches where you only need to outsmart a single opponent. The participation fee varies, and you both pay the same charge.
The winner takes the entire pot, which gives you a chance to double your profit in only 15 minutes. That’s how long a single session lasts, which ensures you feel the adrenaline throughout the match. Live scoring allows you to keep track of the result and root for your portfolio. If you like something different, you can try stock simulators where the competition lasts for weeks.
Tips to Maximize Your Revenue in Fantasy Tournaments
If fantasy trading is new to you, you’ll surely appreciate expert pointers. Here is how to adjust your strategy to maximize the odds of winning real money in fantasy competitions!
More Tournaments Means More Chances to Win
You don’t want to miss free fantasy contests with real prizes. There’s no risk, and you can only boost your profit. List all competitions that fit your preference and write them down, or add them as a bookmark in your browser. That ensures you won’t miss a single tournament, which gives you a better chance of boosting your profit.
Visit the Platform Daily
Fantasy tournaments have daily rounds, with each having a deadline for submitting your portfolio. It’s possible to adjust the portfolio for each round. It’s an opportunity you shouldn’t miss, so make sure to visit the fantasy finance platform daily.
You don’t need to change anything. Keep the same portfolio if you feel comfortable with it. But make sure to double-check the selection before the deadline expires. It helps to confirm your portfolio as close to the submission time as possible since last-minute changes could make the difference.
Follow the Latest News
The concept that there’s a deadline to submit your portfolio is important to remember. You need to follow the latest news, especially those that appear an hour or two before that deadline. Headlines could affect the market during your match. That gives you the opportunity to profit or know which asset to avoid. It’s the power of information that can help you outsmart your opponents.
Use Charts and Other Trading Tools
You’ll need some luck, but trusting only your intuition often leads to disaster in fantasy contests. It’s necessary to analyze an asset before adding it to your portfolio. You can use the available price movement chart. It shows recent value trends for the chosen asset, as well as its volatility. The info can be useful to decide if a specific stock is worthy of your portfolio.
Are you ready to try a fantasy tournament for the first time? Most platforms, such as StockBattle or Invstr, require completing a simple registration form first. Once you access the fantasy finance platform, find the tournament that fits your preference. Start with a free one, but don’t hesitate to join fee-based tournaments to maximize the thrill!