Many people dream of making money from their hobby. After all, what could be better than getting paid for doing something you love?
With 29 million Americans signed up for fantasy football leagues each year and the entire U.S. fantasy sports industry worth an estimated $9.5 billion this year, there are a lot of people who might be wondering if their next side hustle should come from their fantasy football skills.
While it may be tempting, here are a few things you should know before you try to use your fantasy football hobby to boost your personal finances.
Many people sign up for a fantasy football league strictly for fun. They create teams to compete against their friends and spend a small amount of money to do so. If they win a little money, great. If they lose, it’s fine — because winning isn’t a revenue stream for them.
But it could be problematic to rely on fantasy football as a side gig because you’re essentially investing time and money into something that likely won’t reap much monetary rewards. Some fantasy football leagues with substantial jackpots have sizable buy-ins. And even ones that have smaller entry fees give you very little chances for big winnings.
There are ways to make a little money from your fantasy football team through smaller bets on online sports betting platforms like FanDuel, but, as with all betting, your odds aren’t great. Even if you occasionally make money from fantasy football, it’s not likely you’ll earn enough money consistently to turn it into a side hustle.
If you’re tempted to turn your fantasy football league into your side job, it may be a good idea to compare your winnings to what many people make from their side hustles. A recent Zippia study showed that the average monthly side hustle income is $483 per month.
Do your monthly fantasy football league winnings come close to that? If not, you may want to reconsider your plan to turn it into a side gig.
If you really want to turn your passion for fantasy football into a side hustle, consider looking for a job position that allows you to stay in the fantasy football world without having to take on the risk of playing.
I quickly searched for fantasy football jobs and found a remote content writer position for FanDuel. The job description said they were looking for a “knowledgeable sports fan” to write about fantasy sports and sports betting and were looking for as little as one year of writing experience.
This is just one example, of course, but it’s an example of how you could still make money from fantasy football without having to rely on setting up the best teams and hoping for a big payout.
A few side hustles that actually make money
An estimated 45% of U.S. workers have a side hustle, and considering that 61% of Americans currently live paycheck to paycheck, it’s not all that surprising.
If you’re looking to make some extra cash, some great side hustle opportunities can be potentially lucrative. They won’t scratch your fantasy football itch, but they could be a great way to earn extra income. Here are some top-paying side hustles, according to Upwork:
- Public relations manager
- Media buyer
- Artificial intelligence professional
This is a partial list, but it’s a good starting point if you’re looking for a side gig. For example, Upwork says that a PR manager position can earn between $50 to $100 per hour and that a photographer can earn between $40 to $100 per hour.
Remember that the point of a side hustle is to help earn money, rather than to invest in your hobby. Many gig jobs will help you make some cash to help pay off debt, but putting too much money into trying to win fantasy football competitions could do the opposite.
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