Betting, predicting, and winning money is surely fun. But embracing your childlike spirit with fantasy sports is a whole different level. Fantasy basketball betting is the easiest of them all, so if you’re a novice, you’re in the right place. In this guide, we’re reviewing the best fantasy basketball sportsbooks in 2023, including our all-time favorite - FanDuel.
Best Fantasy Basketball Betting Sites - Our Recommendation
List of the Best Fantasy Basketball Betting & Apps Sites in the US
Overall Best Fantasy Basketball Betting Site: FanDuel
Best Bonus Fantasy Basketball Betting Site: DraftKings
Fantasy Basketball Betting Sites Reviewed
The rivalry between FanDuel and DraftKings has been going on for some time now. And there really is a thin line that separates them in terms of their fantasy basketball betting. Let’s take a look at the reviews to better understand each platform’s strengths and weaknesses.
FanDuel - Overall Best Fantasy Basketball Betting Site
FanDuel Overview
Year Founded | 2009 |
|---|---|
Banking Options | Visa, MasterCard, PayPal, Venmo, ApplePay, Trustly, PayNearMe, Wire Transfer |
Languages | English |
License | Arizona Department of Gaming, Colorado Department of Revenue, Illinois Gaming Board, Indiana Gaming Commission, Iowa Racing and Gaming Commission, Kansas Racing and Gaming Commission, Louisiana Gaming Control Board, Maryland State Lottery & Gaming Control Agency, Michigan Gaming Control Board, +11 more states. |
Sports Available | Football, Basketball, Motor Sports, Fantasy Sports, Baseball, Soccer, Hockey, Golf, Tennis, Esports, UFC, College Sports, Horse Racing, Boxing, Rugby, Cricket, Darts |
Bonuses | Sportsbook Bonus: 10x on First Bet, up to $200 in Bonus Bets Cash Prizes for Fantasy Sports Betting |
Mobile App | IOS, Android |
Restricted States | 30 |
Allowed States | AR, CO, CT, IL, IN, IA, KS, LA, MA, MD, MI, NJ, NY, OH, PA, TN, VA, WV, WY, DC |
FanDuel has a 14-year tradition in the fantasy betting industry. What we’ve noticed is that the sportsbook is quickly catching up with the newest trends. Today, they boast of a wide selection of sports, a user-friendly website, and the sleekest among fantasy basketball betting apps.
But when it comes to fantasy basketball betting - FanDuel is second to none. You can easily create a winning basketball team while using all 9 positions on the basketball rooster. You also get to choose a contest and compete in daily or weekly matchups with no long-term commitment.
Every type of bettor can find something they’ll enjoy. With a wide range of betting options and competitive odds, we feel strongly about FanDuel being the go-to choice for fantasy basketball bettors. You can check our FanDuel review. Additionally, FanDuel Sportsbook, a leading platform for fantasy basketball betting, has gained immense popularity among enthusiasts. Interestingly, some even compare its prominence to World Cup betting sites in the soccer realm.
What We Like and Dislike About FanDuel
- Live betting and prop bets available for many events
- Extensive coverage of basketball leagues
- Well-developed fantasy sports platform
- Numerous daily promotions
- When betting on favorites, players have to win a margin higher than the displayed number
- Lack of loyalty rewards
DraftKings - Best Bonus Fantasy Basketball Betting Site
DraftKings Overview
Year Founded | 2012 |
|---|---|
Banking Options | Online Banking, VIP Preferred, PayPal, Credit and Debit Cards, Cash/Cage, Venmo, Wire Transfer, Electronic Gift Card, DraftKings Gift Card |
Languages | English |
License | Arizona Department of Gaming, Colorado Department of Revenue, Illinois Gaming Board, Indiana Gaming Commission, Iowa Racing and Gaming Commission, Kansas Racing and Gaming Commission, Louisiana Gaming Control Board, Maryland State Lottery & Gaming Control Agency, Michigan Gaming Control Board, Nevada Gaming Commission, +10 more. |
Sports Available | Football, Basketball, Cycling, Cricket, Fantasy Sports, Esports, Boxing, Golf, Hockey, Lacrosse, MMA, Motorsports, Rugby, Snooker, Soccer, Tennis, Table Tennis, Volleyball, Baseball, etc. |
Bonuses | Daily Fantasy Bonus: Get up to $500 with Promo Code SAVE Sportsbook Bonus: Get $150 in bonus bets with a minimum bet of $5 Get up to $1,000 with Promo Code WIN |
Mobile App | IOS, Android |
Restricted States | 29 |
Allowed States | AR, CO, CT, IL, IN, LA, IA, KS, MD, MA, MI, NH, NJ, NY, OH, OR, PA, TN, VA, WV, WY |
DraftKings came out a few years after FanDuel but has developed into one of the best fantasy basketball betting sites in the entire fantasy betting sector and quickly became its biggest rival. DraftKings offers an extensive list of sports to bet on and is currently available in 20 states in the US.
At first glance, the welcome bonus of DraftKings doesn’t seem that high. However, as a new user, you can get up to $2,000 when all promo codes are taken into account. And that’s quite a competitive amount compared to other US sportsbooks. Not only that but DraftKings also offers regular promotions for both sportsbook and fantasy players, specially during MMA betting. Moreoever, Among beting the top table tennis betting sites, DraftKings sportsbook stands out, offering enthusiasts a platform to wager on their favorite ping pong matches.
What We Like and Dislike About DraftKings
- Low minimum deposit of $5
- High ratings, overall satisfied customers
- A wide array of sports available
- Attractive bonuses and promotions for new and existing players
- Customer service may not perform as expected on occasion
- Some terms and conditions can be inconvenient
How We Rate & Review Top Fantasy Basketball Betting Sites
We always focus on providing detailed sportsbook reviews. And to do that successfully, the following criteria help us evaluate fantasy basketball betting sites to provide reliable information to our readers.
License. The biggest red flag for a betting site is when it doesn’t hold a license. Be careful though, sometimes even the license provided might not come from a reputable authority. In the US, state gaming commissions and control boards are the legal license providers.
Sports Offerings. There’s no denying that bettors prefer football and basketball. However, a sportsbook should also take into account the demand for other not so widely-recognized sports.
Safety and Security. We value security above all else. We expect the betting site to be secured through encryption technology, as well as to provide secure banking options to protect its users’ funds and sensitive information.
Reputation. Coming across a sportsbook that has existed for years and still has a bad reputation? There must be something wrong. If the platform’s trustworthiness is put into question, we always approach it with caution.
Bonuses and Promos. Attractive welcome bonuses are exactly what their name suggests - attractive. Betting sites that offer them (provided they also have fair terms) along with regular promotions for their users will surely make it on our list.
User Experience. It’s not always that users will provide the most accurate information. After all, betting is a matter of personal preference. But if most user experiences are negative, we won’t turn a blind eye.
Customer Service. The customer support team of the fantasy basketball betting site should be helpful and timely. That’s why every sportsbook should aim for customer support availability through live chat, FAQs, email and phone numbers.
Latest Fantasy Basketball Betting Sites Compared - July 2023
In the table below, we’re comparing the two biggest fantasy basketball betting sites in the US.
Fantasy Basketball Betting Site | Number of Sports | Bonus | Get Started |
|---|---|---|---|
FanDuel | 20 | Sportsbook Bonus: 10x on First Bet, up to $200 in Bonus Bets Cash Prizes for Fantasy Sports Betting | Visit Now |
DraftKings | 26 | Daily Fantasy Bonus: Get up to $500 with Promo Code SAVE Sportsbook Bonus: Get $150 in bonus bets with a minimum bet of $5 Get up to $1,000 with Promo Code WIN | Visit Now |
What is Fantasy Basketball Betting?
Fantasy basketball betting allows you to put together a team of your favorite basketball players and compete against other bettors. What’s interesting about this type of betting is that the results will depend on the real-life statistical performance of those players.
Fantasy NBA got traction during the 1990s. Nowadays, it’s enjoyed by many fans around the world. You get to participate in a contest of your choosing, whether daily or monthly, and compete for regular cash prizes.
What Kind of Bets Can You Place on Fantasy Basketball?
The most common bets you can place on fantasy basketball include:
Head-to-Head Roto. You will be matched up against other players from your league. The team who accumulates the best statistical performance will win.
Head-to-Head Points. This one is quite similar to the first. You’ll still compete against other teams from your league but the points are rewarded based on the best statistical performance in categories such as points, rebounds, assists, steals, blocks, or turnovers.
Daily Fantasy Sports (DFS). This type involves competing against other contestants while drafting a new team for each day or week.
Keeper Leagues. In keeper leagues, you get to keep a certain number of players from your team for the upcoming season.
Season-Long Leagues. Participating in season-long leagues means choosing a team at the beginning and keeping it through the entire season.
Are Fantasy Basketball Sites Licensed and Regulated in the US?
The answer is yes. Most fantasy basketball sites are licensed and regulated in the US. That is to say, the majority of states have legalized fantasy sports with the exception of Hawaii, Idaho, Montana, Nevada, and Washington.
Are Fantasy Basketball Betting Sites Legit?
While fantasy basketball is legal in most states in the US, we can’t say with absolute certainty that all such operators are legit. It’s important to consider your options before engaging with any fantasy basketball betting site. Conduct your own research or just check out our reviews to make an informed decision.
Top Fantasy Basketball Leagues and Events to Bet on
League/Event | Description | Format |
|---|---|---|
NBA | Professional basketball league composed of 30 teams | Regular season + Playoffs |
EuroLeague | The top European basketball competition featuring professional clubs from various countries | Regular season + Playoffs |
FIBA | International basketball tournament | International tournaments |
Top Fantasy NBA Players to Choose
Player | Team | Position |
|---|---|---|
LeBron James | Los Angeles Lakers | SF/PF |
Kevin Durant | Phoenix Suns | SF/PF |
Nikola Jokic | Denver Nuggets | C |
Stephen Curry | Golden State Warriors | PG |
Fantasy Basketball Betting Bonuses & Promo Codes
Let’s break down the most important aspects related to fantasy basketball betting bonuses and promo codes.
Wagering Requirements. Like all other bonuses, fantasy basketball bonuses will also come with specific wagering requirements. These indicate how many times you should wager the bonus amount or winnings before you can withdraw it.
Payment Exclusions and Restrictions. It’s important to note that not all payment options will qualify for a fantasy basketball bonus. Check out the terms and conditions before depositing.
Winning Caps. Some bonuses will also come with a limit on the maximum winnings you can generate by using the bonus.
Time Limits. All fantasy basketball bonuses have time limits, meaning they’re valid up to a point and won’t be usable afterward.
Weightings of Different Bet Types. Also, be aware of different bet types, as some may have lower or higher contributions toward fulfilling the wagering requirements.
Minimum Deposit. Unless it’s a no-deposit bonus, there’ll always be a minimum deposit, depending on the betting site you choose. However, fantasy basketball sportsbooks also offer free contests in which you can participate without depositing any funds.
Why Bet on Fantasy Basketball?
Benefits of Fantasy Basketball Betting | Drawbacks of Fantasy Basketball Betting |
|---|---|
Learn more about basketball players to strategize basketball betting in the future | Time and effort are required |
No season-long commitment | Outcomes might depend on unexpected events such as injuries or game cancellation |
Ability to choose fewer basketball players in regular formats | Dependance on real-life statistics |
Winnings are based on skill and rarely on luck | |
Potential for winning regular cash prizes |
How to Sign Up To A Fantasy Basketball Betting Site?
Check out our step-by-step guide on how to sign up for a fantasy basketball betting site. We took FanDuel as an example.
Step 1: Open the Website
Step 2: Provide Personal Information
Step 3: Provide KYC
How to Deposit at Fantasy Basketball Betting Sites?
After signing up, follow our step-by-step guide to successfully make your first deposit at fantasy basketball betting sites. And again, we take FanDuel as an example.
Step 1: Log Into Your Account
Step 2: Choose a Deposit Method
Step 3: Fill in Payment Method Information
Step 4: Confirm the Payment
How to Withdraw Winnings Using Fantasy Basketball from a Betting Site?
As you progress in your fantasy basketball betting experience, there will be a time when you want to withdraw your winnings. Follow our step-by-step guide on how to do this successfully.
Step 1: Log Into Your Account
Step 2: Choose a Withdrawal Method
Step 3: Fill in Withdrawal Details
Step 4: Await Processing
Fantasy Basketball Deposit and Payout Times
The deposit and payout times will largely depend on the fantasy basketball betting site and payment method you’re using. For example, deposits with credit and debit cards can be made instantly while bank transfers might range from a few hours to several banking days.
FanDuel is known for its quick payout time which usually takes no longer than 48 hours. At DraftKings, the withdrawal time frame can range from 24 hours to five business days, depending on the withdrawal method.
How To Choose The Best Fantasy Basketball Betting Site in 2023
We’ve already made our choice but you’re still the one who has to decide which sportsbook works for you best. When it comes to choosing the best fantasy basketball bookmakers, there are several factors you can consider.
Restricted States
In the US, fantasy sports are quite popular and are legal in almost all 50 states. The same goes for fantasy basketball betting sites. Hawaii, Idaho, Montana, Nevada, and Washington are currently the only states where fantasy basketball betting sites are prohibited.
We won’t recommend using VPN to enter fantasy basketball betting sites as many of these platforms have systems in place that can easily detect VPNs. Open the fantasy basketball betting site to check if this type of betting is legal in your state.
Safety, Reliability, and Reputation
To legally provide fantasy basketball betting, sportsbooks must be licensed and regulated by a relevant gaming authority in the state where they operate. Such examples are the Pennsylvania Gaming Control Board and the New Jersey Division of Gaming Enforcement.
Besides the license, you also have to consider the platform’s customer service options. You’ll surely have a question or two you won’t be able to find anywhere and it’s better to receive a fast response. The only way to achieve that is to choose a platform whose customer support team is available through live chat, email and phone numbers.
Payout & Withdrawal Speed & Terms
Take your time to read the terms and conditions of the fantasy basketball betting site associated with their payouts and withdrawals. Keep in mind that if a deposit with a credit or debit card is made instantly, this doesn’t mean the same timeframe applies to the withdrawal.
Fantasy basketball betting sites also have minimum deposits and withdrawals in place. This amount usually varies between $10 to $20. However, in the case of DraftKings, the minimum deposit is just $5.
Deposit Options
You’ll also find that fantasy basketball betting sites have minimum deposit limits which normally range from $5 to $20. Maximum deposit limits, on the other hand, can range from a few thousand dollars to an even higher amount, depending on the payment method.
The terms and conditions in terms of depositing also play a huge role. For example, by using some payment methods, you won’t be eligible for a welcome bonus. Also, you’ll probably have to verify your identity through a KYC process before you can use any payment method to deposit or withdraw money.
Fantasy Basketball Betting Selection
Don’t forget to check out the fantasy basketball betting selection the platform offers. These include season-long leagues, daily or weekly matchups, head-to-head matchups, tournaments, etc.
In fantasy basketball betting, it’s also important to check for the availability of drafting options. These should be as flexible as possible, so you can be able to tailor your basketball team according to your strategic approach.
Fantasy Basketball Bonuses and Promotions
Look out for any type of bonus available such as a welcome bonus, deposit bonus, free bets, or refer-a-friend bonus. These can greatly boost odds, as well as improve your chances of winning and potential payout.
However, note that bonuses and promotions almost always come with specified terms of use. For example, there’s a minimum amount you have to deposit to receive the bonus or a specific number of times you have to wager the bonus to be able to withdraw your funds.
Cost & Fees
There will always be an entry fee required to participate in a basketball contest. However, there are also free contests you can keep an eye on to test out your strategies before depositing real money. Some fantasy basketball betting sites will also charge a small percentage from prize pools.
The majority of sportsbooks won’t charge you any fee for deposit/withdrawal transactions. However, your bank or the payment provider might charge you additional fees while doing so.
User Experience & Mobile Compatibility
The user experience (UX) is more important than you might think. This is what ensures you’ll be able to easily navigate the website, rather than wandering confused about where to find specific features and information. It will improve your overall fantasy basketball betting satisfaction.
Also, it’s much more convenient when a fantasy basketball betting site has a compatible mobile app. This will make it easier for you to access your account regardless of where you are, what you’re doing, or the device you’re using, so long as it is compatible.
Cashier Policy And T&Cs
When it comes to cashier policy and terms and conditions, you should take into account all of the above-mentioned aspects. Check if fantasy basketball is legal in your state; check if your preferred payment method is eligible for a welcome bonus; keep an eye on any transaction fees, and consider the minimum and maximum deposit and withdrawal amount, etc.
Other Popular Fantasy Sports Betting Sites
While fantasy basketball is incredibly popular and fun, there are other sports you can include in your daily fantasy betting experience.
Fantasy Football. Football, and not the fantasy one only, is one of the most popular sports to bet on worldwide. Fantasy football allows you to draft your own team of NFL players to compete against other teams of the same league.
Fantasy Golf. This type of betting allows you to put together a team of six PGA TOUR Professionals. You’ll earn points based on your players’ performance in golf tournaments.
Fantasy Esports. Fantasy Esports have been gaining popularity in the last few years. To participate, you should draft a team of professional esports players who compete in video games such as Dota 2, League of Legends, or Counter-Strike Global Offensive.
Fantasy Basketball Betting Sites to Avoid
In a world where scammers are everywhere, it’s important to keep your eyes open when engaging in fantasy basketball betting. Check out the sports betting sites' terms and conditions to ensure it’s a licensed and regulated brand. Fantasy betting is a highly regulated market in the US, so any DFS brand you come across must be licensed by the relevant authorities.
How to Gamble Responsibly in the US
Sure, you can win money by engaging in fantasy basketball betting sites. And it definitely is an engaging betting practice. However, you can also use money, and if you’re not careful, this type of betting can easily turn into a compulsion. That’s why it’s important to follow a gamble-responsibly protocol, which includes some of the following strategies:
Setting Limits. You should always, and with no exception, set limits on your bettings. First and foremost, set a budget that works for you, money that you can comfortably afford to spend. Also, you can set deposit limits, which are often offered by the sportsbook itself, to control your daily, weekly, and monthly spending.
Managing Your Time. Don’t forget all other responsibilities you have just so you can bet. Set a time limit on how much time you’ll spend on gambling - whether daily, weekly, or monthly.
Accept Losses. You can’t always win, and that is a widely accepted truth among bettors. So, learn to accept losses and don’t let your losses provoke you into engaging in higher-risk bets.
Seek Help. If you in any case notice that you’re becoming addicted to gambling, seek immediate support. Never try to ignore or deny it, as it can turn into a bigger problem.
