Fanduel vs Draftkings Review
Fanduel and Draftkings are among the leading Daily Fantasy Sport websites that offer several games to players. However there have been different features that allows you to know one which offers the best services. People who have spent most of their time on fantasy sports have heard great attributes on both sports. Fanduel is based in New York while Draftkings stand its grounds in Boston. They have been major rivals and most people would always look on the sites that offer the best bonus when signing up. To know how these two companies compete against each other, we will look at some aspects that differentiates them. This review will check on Bonus comparison, Game comparison, rake comparison, Deposits, withdrawals, Mobile usage, and the taxes on winnings.
Both Draftkings and Fanduel offer 100% bonus when a new player places their first deposit. For Fanduel, the bonus will be awarded up to a maximum amount of $200. Draftkings on the other side doubles this figure three times more than Fanduel. This is because it also offers 100% for an initial deposit to a maximum figure of $600. They both accept specific forms of making online payment to an individual’s account. This can be done by use of Credit cards, or PayPal. Most people take the bonus factor as being light-weighted and does not offer a bigger difference. Though the fact still remains that Draftkings wins in this category. To understand much about the difference between this two teams you can check their bonuses and promo codes based on provided links to the site.
These two rivals both offer salary capped games. They are also backed up with guaranteed prize pool tournaments and might be difficult to pick the winning side. The prize pools offered are usually of a larger amount and usually have GPP of $1000000 every week. This might be the beginning of achieving your dreams. It is an opportunity offered by the two daily fantasy sports to turn things around in your life and make you richer. It is also offered every week and it might bring good luck depending on your efforts in playing the tournaments. Though Draftkings offers free roll leagues which you do not have to pay anything to play them. This is quite different with Fanduel which gives Draftkings a boost offering free entry on the specified leagues.
Rake is a small percentage that a participant is always entitled to for the entry fee into a tournament taken by the site while the rest is left in the prize pool. The rule that applies is that the lower the funds that are taken in the rake, the higher funds are available in the prize pool. This indicates that low rake is the most favorable. Across the board, Fanduel benefits from a10% rake. This shows that Fanduel takes the specified rate on all games they offer from the entry fee, which is always flat. The differentiating factor when it comes to Draftkings is that they their rate always fluctuates meaning it does not remain constant. It takes a rake of 5.66 % on all games that are highly purchased.
Fanduel covers withdrawal fees for its players and allows individuals to receive the exact amount of withdrawal on PayPal. For example, when a player withdraws $100 from their Fanduel account, they will receive the exact amount on their PayPal account. This feature has encouraged most players to be in favor of Fanduel. Many people would like to walk home with their full winnings thus Fanduel makes this possible at the specified range of withdrawal. This might be slightly different with Draftkings as little amount can be charged during withdrawal. For Draftkings, the system works by paying the first part of withdrawal to the original source of the funds. The remaining amount is usually paid to your preferable method of withdrawal. Fanduel allows you to withdraw through checks or PayPal accounts. Checks may take up to 10 days to reflect in the account while it takes two business days on PayPal.
When it comes to deposits, both Fanduel and Draftkings offer user friendly methods of payment. Simple procedures are used to deposit funds to your account. In Draftkings, you will have to sign in first to be able to access your account. You will click on ‘My Account’ which will allow you to choose a custom deposit amount or a preselected amount. In draftkings, quick credit cards is important as it allows faster deposits in future. American Express, Visa, Discover and Master cards are all acceptable methods on Draftkings. In Fanduel, Deposits involves signing in first to access your account. A drop box appears on the right side of the site giving you an option of ‘Deposits’. The accepted methods of payments in Fanduel are PayPal or Credit cards.
In the recent times, most people prefer using mobile phones as the faster and easiest ways to check the internet. It may be tiresome to look for your computer every time you need to check something little on the internet. The Daily Fantasy Sports have tried their level best to ensure that their customers are able to play daily games on their smartphones. This has been made possible by both sites which have made excellent mobile services to the participants. This can allow them to play or arrange for tournaments conveniently on their smartphones.
Taxes offered on winnings
There are no exemptions when it comes to taxation. Both Fanduel and Draftkings are entitled to pay taxes when it comes to massive winnings on the fantasy sport. These are among the taxation rules as the site is obliged to issue a form 1099-MISC to a player in case they win $600 or higher during the year. To know your amount of total winnings on Fanduel, you can check on Box 3 which is always named as ‘Other Income’. Fanduel will compute player’s net profit by deducting the entry fee from prize winnings. The remaining amount will then be added to an earned bonuses and Fanduel points. This will be subject to taxation while calculating the taxable amount. Draftkings is not also exempted as its participants are also placed in the same category. Players on Draftkings have been issued with mail tax forms on winnings over the same amount of $600.
All players on both Fanduel and Draftkings have to comply with these rules, as the taxation rules always stream from a higher level. This allows buyers to carry home what is only allowed by their tax brackets.
The Affiliate Program
Both Fanduel and Draftkings use this tool as an efficient method of marketing. It involves inviting a friend and earn extra dollars. Draftkings allows you to invite your friends and other people who may be interested in the fantasy sport. Once the individual signs up, the player is entitled to a 25% share on entry costs incurred. This feature is always feasible if you invite at least two players within a period of 30 days. In an event where the target is not met, the percentage is always decreased to 15% on the cost of entry. It also offers huge bonuses when you invite more people to play games and other tournaments. Fanduel on the other side allows you to earn a flat amount per user or a percentage in what they participate in. You can create a tournament of $10 and invite friends to play with you. When they sign up and make their first deposits, you will be entitled to an extra amount of $25 which is a good cash to boost your account. This feature has been widely used by both rivals in competing for players in the large market. It has also been beneficial and enabled an increase in numbers of players in the different sports which depends on the services they offer.
A summary of Fanduel and Draftkings
Both Fanduel and Draftkings have been effective in offering the best services to their players. Draftkings has been regarded as the most efficient because of the several games they offer. This may not be the general case as Fanduel is also effective in its own ways. The taxes charged on winnings have been paramount and a must since the taxation law outlines the parties to be exempted. This means that as long as you win big, you will only be allowed to receive an amount within the taxable bracket. Fanduel and Draftkings are similar in nature as they are both multibillion-dollar industries. They have made most people to be successful by the figures offered on weekly tournaments. You can be free to try them out and know the different experience they both have to a player. The rivalry between Fanduel and Draftkings will still continue as new player flow in daily. Each player who has been in both sports can determine which one offers huge bonuses and pays. According to the polls, Draftkings takes the lead because of the many features it has, including several games it offers to its players.