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bradblackandgold

2018 Prize Advice

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Hello folks. First year doing the football guys championship contest. I've done some of the smaller best balls before, but one of my teams was able to win this year. I was curious what people suggest for which prize to take? 

My initial thoughts: The Main event prize is seen as the best value but it also is only one shot at a bigger prize, whereas the footballguys championship prize gives me three chances to win a little less, but this gives me more flexibility in my drafts and I wouldn't be paying anything if I did what I did this year and bought a 3 pack. 

The cash just seems less interesting and exciting, although if I take the cash and leave it in the account, would I still get free 35 leagues if I were to buy a 3 pack of the FBG championship? Because I think if I take option 2 that isn't the case. 

Just looking at my various options and would love feedback, thanks. 

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On 12/11/2018 at 11:22 AM, bradblackandgold said:

The cash just seems less interesting and exciting, although if I take the cash and leave it in the account, would I still get free 35 leagues if I were to buy a 3 pack of the FBG championship? Because I think if I take option 2 that isn't the case. 

Not sure what you're saying here.

To answer your Q it depends on your circumstance and preferences.  For me, I will wind up about breaking even this year, and I took three Main Event teams with my winnings.  Hopefully I win some more dough in the Championship round, but who knows.  Main Event is stiffer competition, but I don't want to manage 21 teams next year.  I want three M.E. teams and 12, maybe 15 FFPC teams.  I also think having three well thought out teams in the M.E. will be much more exciting - especially because while the competition is way better, there are fewer teams and there is a $500,000 grand prize.  But I still want a bunch in the FFPC, because it's just fun. 

If I don't win anymore cash, I will have to pay for a bunch of the FFPC teams next year, since I rolled most of my winnings to date into M.E. teams (still have a little cash left over).

But: i) I have annual budget I am comfortable with gambling on fantasy football, ii) I assume I will not win (from a personal cash management stand point, NOT from a competitor's standpoint) and iii) I view it as an entertainment expenditure.

Oh, and you have to pay taxes when you withdraw cash... and you don't get to deduct your investment (I don't think, first time doing this).  More fun just to roll the gross winnings into more teams.

Edited by leftcoastheel

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17 hours ago, leftcoastheel said:

Not sure what you're saying here.

To answer your Q it depends on your circumstance and preferences.  For me, I will wind up about breaking even this year, and I took three Main Event teams with my winnings.  Hopefully I win some more dough in the Championship round, but who knows.  Main Event is stiffer competition, but I don't want to manage 21 teams next year.  I want three M.E. teams and 12, maybe 15 FFPC teams.  I also think having three well thought out teams in the M.E. will be much more exciting - especially because while the competition is way better, there are fewer teams and there is a $500,000 grand prize.  But I still want a bunch in the FFPC, because it's just fun. 

If I don't win anymore cash, I will have to pay for a bunch of the FFPC teams next year, since I rolled most of my winnings to date into M.E. teams (still have a little cash left over).

But: i) I have annual budget I am comfortable with gambling on fantasy football, ii) I assume I will not win (from a personal cash management stand point, NOT from a competitor's standpoint) and iii) I view it as an entertainment expenditure.

Oh, and you have to pay taxes when you withdraw cash... and you don't get to deduct your investment (I don't think, first time doing this).  More fun just to roll the gross winnings into more teams.

Why can't you deduct your investment?  If you couldn't, no one would make money on Fanduel.  $10,000 $1 entry fees nets $11,000 in winnings for a $1000 profit.  If you report $11,000, you would be paying over $3000 in taxes and losing $2000 in the end.

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49 minutes ago, BassNBrew said:

Why can't you deduct your investment?  If you couldn't, no one would make money on Fanduel.  $10,000 $1 entry fees nets $11,000 in winnings for a $1000 profit.  If you report $11,000, you would be paying over $3000 in taxes and losing $2000 in the end.

Well, if you go to a casino and a ton of money, do you get to deduct what you gambled to win that money?  I don't think so.  Technically I think you report it all as income.  Could be wrong; never won enough for it to matter.

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I'm pretty sure casinos list net winnings for the year in their tax documents but I've never won enough to know for sure.

 

As for what I was trying to say. I believe as a promo I received 3 free $35 leagues when I bought my 3 pack of FBG championship contests, but I thought that I read that's only good with cash and not ffpc credit/team credit. Not that the 105 in entry fees is a lot, but if that's true, taking the 1500 cash, leaving it in your account, and using it to buy leagues might be slightly more value than just taking a 3 pack prize 

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3 hours ago, bradblackandgold said:

I'm pretty sure casinos list net winnings for the year in their tax documents but I've never won enough to know for sure.

 

As for what I was trying to say. I believe as a promo I received 3 free $35 leagues when I bought my 3 pack of FBG championship contests, but I thought that I read that's only good with cash and not ffpc credit/team credit. Not that the 105 in entry fees is a lot, but if that's true, taking the 1500 cash, leaving it in your account, and using it to buy leagues might be slightly more value than just taking a 3 pack prize 

Dude its up to you.  No rhyme or reason.  Do what works for you...

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I was simply trying to clarify my remarks which were said to be confusing. If I'm so exasperating, perhaps don't feel the need to chime in, because while I was asking for advice, I wasn't asking for abuse. Sometimes it helps me to try and look at all the angles.

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On 12/14/2018 at 11:07 AM, bradblackandgold said:

I was simply trying to clarify my remarks which were said to be confusing. If I'm so exasperating, perhaps don't feel the need to chime in, because while I was asking for advice, I wasn't asking for abuse. Sometimes it helps me to try and look at all the angles.

Sensitive much?  I won't reply to you anymore as I certainly don't want you to feel abused.

Good luck with whatever you decide to do.

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