This Year You Can Keep Winnings On Your Player Account

[Greg Ambrosius]

CASH IS KING!!

If there's one thing we know in the NFFC, it's that CASH IS KING. During our first 14 seasons, we always ran our contests this way, taking all money in for signups and paying all winnings out in a check payment. It was easy to report and easy to track.

That being said, it also meant credit card transactions on just about every payment and no flexibility for owners who wanted to use some of that money for future transactions. It also made it longer to receive your winnings from us as the U.S. Postal Service takes time to deliver thousands of checks.

So let's get with the times and change all of that. RIGHT NOW!

We started this new setup with NFBC payments in October and will do it in the NFFC this year and all years going forward. It's a slight change, but it's a change for the better.

Next week we will add a Claim Prizes link to the web site. You will go to that URL to not only claim all of your NFFC regular season prizes but to tell us know what you want to do with that money.

Once you Claim Prizes that money will be put on your new Player Account. Let's say you won a Primetime and a Classic regular season title already, you'd claim each prize separately and you'd have $13,500 on your account. The money is now there and you own it.

Then you go to Withdraw Funds. If you want $10,000 before Christmas, type in $10,000 in the box and a check will go out to you shortly. An address will pop up to confirm where the check is going to and you either acknowledge that or type in your new address. Then you are done and we'll get the check out shortly.

Now if you did that above, you'd still have $3,500 on your account. If you decide to sign up for four $150 NFFC Post-Season Contest teams, just sign up and under Payment Information pull down to Money On Account. The system will deduct $600 from your $3,500 and you'll have $2,900 on your Player Account. If you buy two NFBC Main Events after that, you can pay the rest on account and owe us $300. The system will deduct that and ask for credit card payment for the rest. Easy as that.

Now once that $13,500 is deposited into your account by SportsHub Technologies, that entire total will be reported to the IRS as your winnings here. We aren't messing around with the feds here and playing games. This is earned income that gets reported as earned income after we've deposited the winnings. We'd love to not report what you keep on account, but we don't see any legal precedent for that. All prizes deposited into your account during the 2017 season -- like after the regular season winnings -- will be taxed in 2017. Any winnings deposited into your account in 2018 will be reported as earned income for 2018. That's how the rule reads. Hope that helps.

Now, let's give you a couple of good reasons to keep some money on your account, even though we know CASH IS KING:

1). Many of you play with us each year and KNOW that you are going to spend a lot of this money back with the NFBC or NFFC. If you win over $3,000 and know you are taking two Classic and/or Primetime teams next year, why not just leave $3,000 on account and pay for it that way. It's easy to do and it saves each of us the hassle of credit card or check payments. Same with buying your NFFC Post-Season contest entries. If you know you're playing that game, leave enough on account to cover that and avoid credit card fees on our part.

2) As an incentive to get folks used to leaving money on account, we will add $80 to your Player Account if you leave $200 or more on account this season. That $80 must be respent with the NFFC, NFBC, CDM, NFBKC, Fanball or any of our other great contests, but it's free money. Why not take advantage of it and earn money for really doing nothing? Again, it's our way of showing you how easily it is to leave money on account and pay for future entries. And it's a good way to reward you for trusting us with your money.

3) Selfishly, we hope you consider leaving some money on account because it saves us money. After all of the DFS issues, fewer and fewer credit card processors want to be in this industry and all of us are working hard to find credit card processors. They don't need our industry to survive, but we sure as hell need them. Processing rates have all gone up, along with state licensing fees and state taxes. Our expenses for taking your business have gone up in a big way over the last 2-3 years. If we can save 3-4 percent on each money transaction, that's more money that we can provide for prizes. So if someone bought $6,000 worth of NFFC entries next year and paid with money on account rather than by credit card that's a savings of around $200. That's a HUGE help to us. In fact, credit card fees are our second largest expense, so hopefully the Player Accounts will help reduce that total while giving you prize money sooner and more flexibility with that prize money.

4) As an added incentive for our biggest players, we are going to create a VIP experience in Las Vegas in March and September for those who leave $10,000 or more on account. We know some of you who win multiple Classic and Primetime leagues, or Super, Ultimate, Diamond or Platinum leagues want that money as soon as you can get it. And we'll deliver that to you. But we also know that you are coming back the next year in those same events. So why not leave $10,000 or more on account and pay for them that way, while also gaining a VIP experience on us? I'll explain what we have in mind for you if you do that with a personal email and call, but think about it now and we'll talk. I like what we have planned there, so best of luck in the playoffs and hopefully you win enough for some cash and some leftover prize money on account.

Okay, look for the Claim Prizes link next week. Also look for your Player Accounts next week. Look for that money in your account next week. And then think about keeping some of those winning dollars in your Player Account. You'll have money set aside for the next contest you want to play with us and the transaction won't cost us a dime. Thanks all and congrats to everyone who won prize money in the NFFC in 2017. Enjoy.

[Sack]

Process worked smoothly.

Enjoy the idea of leaving some $$$ on account with the added incentive of an additional $80
as NFBC is around the corner.

Well done!

[KenGill]

Of course there is a better way IMO -- pay the NFFC with a check (after making sure you have the money in your account - or course) --- and save the NFFC the 3 to 4% gouging that they take. The hell with the credit card companies.

[rkulaski]

If we leave $200 in our account, and the sign up for a nfbc DC league for $150 a couple of weeks later, how do we take advantage of the $80 benefit?
I'm leaving some $ in my account. An easy no brainer and win-win for both sides.

[Greg Ambrosius]

If we leave $200 in our account, and the sign up for a nfbc DC league for $150 a couple of weeks later, how do we take advantage of the $80 benefit?
I'm leaving some $ in my account. An easy no brainer and win-win for both sides.

When you leave $200 on account you will be prompted to claim the $80. You then just have to use that as you say for another contest like the NFBC Draft Champions. It will act as cash. In your case, if you plan on doing a couple of DCs leave a little more on account and it will be so easy to sign up for future contests using whatever money you have on account.

Thanks and good luck.

[boutrous11]

Greg, I have money on leaguesafe. When I went to withdraw, it gave me a similar offer to the $80 offer and mentioned that they are part of fanball. Are these two offers separate, or are fanball/nffc/leaguesafe all one entity?

[Greg Ambrosius]

Greg, I have money on leaguesafe. When I went to withdraw, it gave me a similar offer to the $80 offer and mentioned that they are part of fanball. Are these two offers separate, or are fanball/nffc/leaguesafe all one entity?

It is one entity. One offer. Use the $80 on any of our products, which includes CDM.

[pjoner]

How long does it take for the $80 to post to the account?

[Greg Ambrosius]

How long does it take for the $80 to post to the account?

The eWallet between Fanball and NFFC is going live soon. The $80 will be deposited then, likely no later than early next week. In time to buy some more NFFC Post-Season contests.

[boutrous11]

So the two (or more) wallets will become one entity? So if I have $ in leaguesafe, $ in the nffc, they will combine into one amount? And I will be able to use that money in leaguesafe and in the nffc for future leagues?