Fantasy tournaments are competitive events where participants create imaginary teams using real players from various sports, such as football, basketball, or baseball. Each participant selects players based on their performance statistics, and the teams compete against each other based on the actual performance of those players in real games. Points are awarded based on how well the selected players perform, and the participant with the highest score at the end of the tournament wins. These tournaments can be organized in various formats, including daily fantasy sports or season-long leagues, allowing for different levels of engagement and strategy.