Part 3 : Create or join a fantasy sports league
1 : Recruit friends and family.
Fantasy sports are not traditionally regarded as gambling and therefore are not regulated as such. However, you are offering an initial stake and using your skills to earn a return on your investment. To recruit members, ask your family if they would like to join first.
- Post a form on the noticeboard where you work, leaving black spaces for names and phone numbers. These forms should identify who is running the league (your name), where the league will be located, and how much money you need to make the initial bet.
- You can also invite members to join your league by posting online on social networking sites such as Facebook and Twitter.
- If you prefer to join a league, there are many reputable online sites such as ESPN, and other official sports sites that offer fantasy leagues. You can also look for friends or family members who have started their own businesses.
2 : Agree to some terms and conditions.
You will first need to decide how much the official entry fee will be. The fee will go into a pool and will be given to the winner at the end of the football year. Some teams charge $100 per piece, while others find it fun to have a free league (bragging rights). After you agree to the fee, each player must come up with an official team name.
- Be creative with your team name. This is fine as long as the other players agree. If you are playing with random players, you may want a name that is politically correct and not offensive.
- The Union Commissioner (you) will approve these names. Then, as a group, you can come up with a league name if you wish.
3 : Make some official rules.
As a team, the first thing you need to decide is how many fantasy points players get for each action they take. This includes touchdowns, yards, incompletions, dropped balls, hit shots etc (if you are doing a football dream league) You need to set up a playoff system. Determine how many teams will make the playoffs and in which NFL weeks the playoffs will be played.
- Another important rule is to set up waiver wires. The waiver wire is basically how many free agents a team can add, the order of selection, etc.
- Create a system where players can be traded. You should also have a process for vetoing trade agreements if the trade is clearly one-sided.
4 : Track and score your statistics.
You can do this in one of two ways. Firstly, you can calculate your statistics the old-fashioned way, using pencil, paper and a calculator. Look at the Local Sports page, use the fantasy points chart you created earlier and add your points. However, this can take a long time to do manually, so it is recommended that you use a hosting site.
- The hosting site basically calculates each player’s fantasy points on a weekly basis. They don’t have to add the points themselves, they’ve already done the work for you. This way you can focus on the fun of fantasy sports and not on missing points.
- ESPN, NBA, MLB, NFL, Yahoo! etc. all have fantasy points written on their sites.
5 : Choose a date for your annual player draft.
The weekend before your sport starts is usually the best time to hold a player draft. Here you will get together, write down all the players in your sport on a big board and then draft them slowly over a few hours. You will need to carry your computer or smartphone with you as you will need to use the hosting site to select the best available player.
- Make your friends feel at home as the host of the talent night. Often, the living room is used as the perfect venue for draft picks.
- It’s a great time to feast. Cook hot dogs, hamburgers and chilli; eat chips and pretzels; and prepare three or four sodas. The atmosphere should feel like you’re at a tailgate party.
- Once your player has been selected, you can start dream sports. Wait each week to see how your team is doing. Start and sit players down based on their performance. Push for trade players for the final playoffs.
3 tips to bet on sports (part 3) : Create or join a fantasy sports league