Fantasy football leagues provide an easy method to up the banter and smack talk with your friends. So much so that sometimes it's easy to forget that most leagues have a cost associated to them. So before investing in fantasy football, know what you are getting yourself into.
Yes, people have earned some nice payouts through fantasy football with the right strategy, but to play devil’s advocate, we cannot ignore that many fantasy football managers seem to be a lock to lose their entry fee before the season even starts.
Well-planned strategies (and a little bit of luck thrown in) can brings you accolades and championships. Sometimes your luck is all that matters. Most fantasy football enthusiasts have heard Jade Robert Tolbert’s story. She won one million dollars out of pure luck from the draftsman fantasy football daily contest.
For now, let’s leave the luck to chance and work on our skills to become better investors. This article contains tips for you to understand how fantasy football can help your investment journey.
Don’t Let Biases Cloud your Judgement
So, you love your hometown. Great, too many managers will let let this bias cloud their decision making and all the sudden their fantasy football team is filled a bunch of losers. If all of your starters play for one team, then stop deluding yourself with the idea of a fantasy football trophy coming home (exclude maybe the Chiefs). Don’t let their loss become your loss too. You’re investing for profit. Think wisely and decide what’s going to bring the coveted fantasy football prize, and yeah, the trophy too.
Do Extensive Research
This is your hard gained money. Why throw it away on mere conjectures?
Before sitting down for your fantasy draft, study the past performance data thoroughly.
Although past results do not guarantee if any particular team will have the same fate in the current year, don’t invest without doing your homework. Read up and learn all the statistics and offseason moves so you can bring home the fantasy football prize.
Don’t be Impulsive
Reacting out of pure emotions is always the worst thing you can do. People lose when they cannot handle situations calmly.
I see the same issue every year with fantasy football players. They are super high on a player before the draft, but then end of selling that same player a few weeks into the fantasy season after a rough start.
Sometimes you need to be prepared and ride the wave. Do not make impulsive decisions or fly by the seat of your pants every time you get one rough game. Look back at the numbers and have a long term perspective on your players.
Similarly, to often players are unwilling to sell high after one of their players gets off to a hot start. You did the research ahead of time and identified that juicy start to the fantasy season for that player. Don't be afraid to trust your intial plan and sell high to acquire an elite talent that may have gotten off to a rough start.
As we all know it's a long fantasy season and most of the times our studs find a way to bounce back. Wait it out and by low at the correct opportunity!
Buying low and selling high in the early part of the season is a great way to secure the fantasy football prize.
It is not necessary to follow the herd all the time. Yes, go ahead all hear everyone’s opinions if you choose, but sticking to your own plan always and trust your research. See where the people are investing, but don’t follow them blindly.
If you have a keen eye, and think you can spot a diamond in the rough (from past experiences please) identify dark horse players (those that might emerge as winners, even though everyone expects them to burn). It is when the most undervalued player wins for the whole team that the big buck pool in. But don’t invest blindly, you’ve got to have excellent instincts to recognize the potential of the players.
Make Calculated Mini-Investments
Placing your entire investments on just one player (or team) can backfire, in a major way. Distributed asset management is the way to go, and key to a sound investment plan. Think compartmentally while investing and allocate your funds wisely. Choose multiple players of the team to place your investments on. Sometimes it is just one player who brings the trophy in, and brings home the fantasy football prize. Sometimes the team’s collective effort deserves credit. Either way, your chances of victory are enhanced with diverse investing.
Remember, your focus was the fantasy football prize. Don’t get distracted, just keep your eyes on the goal. Pun unintended. Let others go crazy over the fantasy football trophy ideas while you think about the prize, and begin your white boarding, brainstorming sessions. At the end of it all, throw a party and buy gifts for the highest achievers after winning the game. You really do deserve the golden hour of victory. You can bet on that.