Live Chat With Greg: Wednesday At 3 PM ET

Sandman62 · Post by **Sandman62** » Wed Jul 20, 2011 9:44 am

Say Greg, that's an interesting point about ADPs including a lot of DCs. Would it be easy for IT to add some controls for us to select which type of drafts to include in ADP - DC, traditional or both?

DoubleG · Post by **DoubleG** » Wed Jul 20, 2011 9:46 am

Originally posted by Greg Ambrosius:
Wow, no controversial questions. since you asked...

one of the owners of a competing high stakes fantasy company recently said that his company protects players by escrowing some of their prize money for the duration of the NFL and fantasy season.

from my understanding of the way their escrow works (correct me if i'm wrong) is that they allow a 3rd party to hold some of the prize money for the season. after the season is over, the 3rd party gives them their money back and the fantasy company issues checks to all their prize winners.

seeing how the prize money goes back to the fantasy company instead of directly from the 3rd party to the prize winners, is this really something most people would consider "escrow" or is it just a marketing ploy?

if the money actually went directly from the 3rd party to the prize winners, that would be of some value. however if the money goes back to the fantasy company, what's preventing them from "taking the money and running", ie, what PROTECTION does the "escrow" give players?

[ July 20, 2011, 03:49 PM: Message edited by: DoubleG ]

Coltsfan · Post by **Coltsfan** » Wed Jul 20, 2011 12:14 pm

Originally posted by DoubleG:
quote:Originally posted by Greg Ambrosius:
Wow, no controversial questions. since you asked...

one of the owners of a competing high stakes fantasy company recently said that his company protects players by escrowing some of their prize money for the duration of the NFL and fantasy season.

from my understanding of the way their escrow works (correct me if i'm wrong) is that they allow a 3rd party to hold some of the prize money for the season. after the season is over, the 3rd party gives them their money back and the fantasy company issues checks to all their prize winners.

seeing how the prize money goes back to the fantasy company instead of directly from the 3rd party to the prize winners, is this really something most people would consider "escrow" or is it just a marketing ploy?

if the money actually went directly from the 3rd party to the prize winners, that would be of some value. however if the money goes back to the fantasy company, what's preventing them from "taking the money and running", ie, what PROTECTION does the "escrow" give players? [/QUOTE]I do think this adds a layer of protection even if it's not a true escrow. It forces the company to manage funds properly and not spend the prize fund on operating expenses. I doubt WCOFF started out their business trying to figure out how they were going to rip off fantasy players.

Wayne

Shrink Attack · Post by **Shrink Attack** » Wed Jul 20, 2011 2:33 pm

Yes, but it's misleading, Wayne.

It's being advertised as an "Attorney escrow" which IMPLIES that the money is held by a third party attorney and then distributed to those who are owed. Most people who hear "Attorney escrow" will make the REASONABLE ASSUMPTION that this money is protected until distributed to the rightful beneficiaries. This is simply not the case, and should be clarified as such.

That being said, that High Stakes Fantasy contest is beyond reproach in my opinion, and I would trust them with large entry fees.

But on this particular issue, it seems to be more of an advertising gimmick than a guarantee of payment.

If I'm wrong on this (wouldn't be the first time), I wouldn't mind if someone set me straight on it.

SS · Post by SS » Wed Jul 20, 2011 2:49 pm

Greg, I just read on ESPN.com that the NFLPA's vote was held up, CBA is still not done. What happens next?

Greg Ambrosius · Post by **Greg Ambrosius** » Wed Jul 20, 2011 3:09 pm

Originally posted by Sandman62:
Say Greg, that's an interesting point about ADPs including a lot of DCs. Would it be easy for IT to add some controls for us to select which type of drafts to include in ADP - DC, traditional or both? Sorry folks, I had to leave the Live Chat this afternoon to finish up two other projects. It's getting busy again and with Tom out of the office I'm a loner in the Man Cave of Iola.

I don't think we can split those two formats at this point, but we will be splitting the 14-team and 12-team results soon. Maybe down the road when we have more time for all of these requests we can perfect things like the ADP, but right now the guys are working hard to finetune the game software again, the draft software and some other key features we need first. Thanks for understanding.

Greg Ambrosius · Post by **Greg Ambrosius** » Wed Jul 20, 2011 3:16 pm

Originally posted by DoubleG:
quote:Originally posted by Greg Ambrosius:
Wow, no industry questions, no lockout questions, no controversial questions. You guys are boring me!!

Not even any Tom questions with him gone and not able to defend himself.

What's the latest on the WCOFF situation? [/QUOTE]I'm shocked by the lack of information being provided to the WCOFF's best customers, many of whom I've talked to this week. With nobody talking to those customers who are owed big money, it's hard to believe that good news is right around the corner. I mean, if the breakthrough was coming soon wouldn't there be all kinds of emails, calls, tweets, MB postings, etc. telling everyone to hang in there, the CBA and "transition" is almost done? But there is just a self-imposed silence at the WCOFF right now.

I don't think online registration is live there and is a stat service even secured for 2011? I don't know, but soon someone has to say something even if it's bad news. It's a shame that full disclosure hasn't been given to those who are owed money yet.

Maybe there's some type of announcement coming soon. Someone said something was coming two weeks ago, then last week and now maybe this week. Time is running out, FOR EVERYONE!! It's time to disclose the past and the future so that folks can move on, don't you think? The silence isn't helping the industry or the customers at all.

Greg Ambrosius · Post by **Greg Ambrosius** » Wed Jul 20, 2011 3:19 pm

Originally posted by DoubleG:
Greg - Can you provide more details on the Thursday night Viewing Party? I'm looking forward to catching up with a bunch of people.

Food?
Drink?
Hotties?

Some type of NFFC Invitational Draft directly after the game?

I don't have details yet because I need to hear back from the Bellagio about the room I want to use. It's a perfect setup for the Packers-Saints game. There would be a charge per person, but we can have as much food and drink as folks want at a fair price. I have ideas and I'm working with the Bellagio now, but hang tight for a bit. I hope to have more info soon.

Heck, I'm good for any type of drafts folks want. We have plenty of space Sept. 8-10th. So private satellite leagues or more are fine by me. Just realize I'll be a bit tipsy after drinking and watching my beloved Packers that night!!

Greg Ambrosius · Post by **Greg Ambrosius** » Wed Jul 20, 2011 3:27 pm

Originally posted by DoubleG:
quote:Originally posted by Greg Ambrosius:
Wow, no controversial questions. since you asked...

one of the owners of a competing high stakes fantasy company recently said that his company protects players by escrowing some of their prize money for the duration of the NFL and fantasy season.

from my understanding of the way their escrow works (correct me if i'm wrong) is that they allow a 3rd party to hold some of the prize money for the season. after the season is over, the 3rd party gives them their money back and the fantasy company issues checks to all their prize winners.

seeing how the prize money goes back to the fantasy company instead of directly from the 3rd party to the prize winners, is this really something most people would consider "escrow" or is it just a marketing ploy?

if the money actually went directly from the 3rd party to the prize winners, that would be of some value. however if the money goes back to the fantasy company, what's preventing them from "taking the money and running", ie, what PROTECTION does the "escrow" give players? [/QUOTE]I certainly won't fault ANY company that adds a layer of protection to the players. If this third party at least has a tracking of how much money was provided to them and how much they gave back and how much was charged for doing that, etc., at least consumers have another layer of tracking. So I don't see any form of escrow as a "bad" thing.

That being said, I already termed "escrow" as the industry's new buzzword. Nothing against everyone involved with that new plan, but there are subtle shots that anybody who doesn't "escrow" their funds can't totally be trusted. And I just don't believe that's true. You can guarantee prizes and even make a profit without adding another expense by trusting a third party to hold onto whatever total you give them. I certainly do not believe STATS needs to add this expense to the NFBC and NFFC and I will not recommend it at all. The company's profits are in the millions, they have auditors checking our NFBC totals right now along with the entire company's first half earnings/expenses, etc., and there is accountability in many, many places. Should the NFBC or NFFC ever default, I think Earnst & Young will be able to provide every bit of information anyone would need. So would News Corp and the Associated Press, so there is accountability and record keeping that consumers would have access to if it ever got to that point, which it won't.

If someone is escrowing ALL OF THE PRIZE MONEY, that's a good thing. If they are escrowing the guaranteed totals before revenue starts coming in, that's good. And again, I won't find fault with any plan, but I think we all know what the total foolproof escrow would look like and not all entrepreneurs can or will set up their contests that way.

Greg Ambrosius · Post by **Greg Ambrosius** » Wed Jul 20, 2011 3:31 pm

Originally posted by SS:
Greg, I just read on ESPN.com that the NFLPA's vote was held up, CBA is still not done. What happens next? First I think they need to slap the agents for Vincent Jackson and Logan Mankins. If those two are really holding this up, then this process is more insane than it's ever been.

That being said, it's a 500-page document and the player reps have likely agreed to most of it and told their players what to expect when it's time to vote. I have to believe we're almost there, but don't be surprised if the players don't vote on it or tell the owners what the vote is tomorrow or even Friday. This is still a process that can play out over several more days.

The owners are going to vote to approve this tomorrow no matter what the players do and put the pressure back on the players. Fans will put pressure on the NFLPA to GET THIS DONE and stop asking for every last request. Camps might not open until July 28th or even Aug. 1st, but that first week of pre-season games will still go off as planned and free agency will start by Aug. 1st. We're almost there, but these last few days could still be tough.