Is There Any Interest In A $5K NFFC League?

Nag' · Post by **Nag'** » Wed Dec 08, 2004 1:34 pm

Originally posted by TamuScarecrow:
$5000 doesn't go far in NYC. Taxes are too high and the cost of living and weather both suck. That's why I've met and played golf with tons of New Yorkers down here as this is where they are all migrating. You'll probably have the whole place to yourself by 2010. Fact is, some people can afford their hobbies and some can't. I CAN. I wasn't calling out the blue state guys for their politics, Nag. Just going by what I see here on the MB's that most of the NY guys are uptight and view everything as a business decision. If this isn't fun, Nag, why do it? I don't know how old you are but I'll be 50 on New Year's Eve so let me give you the same advice my mom gave me. You're going to be in debt all of your life so learn to enjoy it. I'm glad that you can afford your hobbies, and I'm sure you got to this point in your life by making smart decisions. Would you have joined NFFC had their payout was 50%? I don't think so. What if your hobby was antiques, would you pay for a painting that you knew was worth 1/4th it's asking price. Doubt it. So, you see, anything and everything that requires a monetary investment with a potential monetary return on that investment is & should always be considered a business decision, whether it's fantasy football, porn, stock or real estate. That's what my papa taught me...and that's why I'll always be able afford to live in NYC.

moyer1313 · Post by **moyer1313** » Thu Dec 09, 2004 8:11 am

Please, add me to the interested list.

Would prefer Auction to Regular Draft.

Thanks,
Mark Moyer
Follow Me

King of Queens · Post by **King of Queens** » Thu Dec 09, 2004 8:42 am

Originally posted by Nag':
Unfortunately, it's not that simple since the government and the IRS is not yet fully convinced that FF winnings fall under earned income and not under gambling income. That's why there's a "grey" area I mentioned. But that's a subject for another debate.

As for the "thrill of playing", that's why we have the NFFC, WCOFF and other high stakes contests, not to mention our own local/internet leagues. But if I'm going to INVEST $5000, which is 4-5 times the typical high-stakes entry fee, it no longer becomes strictly for the thrill of playing (at least - it shouldn't). 5/1 payout, 14/1 odds of winning. That's what I see. And I'm not arrogant enough to think that I'm SO much better than the other 13 owners that I can overcome those poor odds, even if it might be true. Doesn't make sense. If you're going to apply this logic to $5,000, you should do the same for $1,250. The max payout in the NFFC--aside from weekly prizes--is $105,000 on a $1,250 entry. That works out to a 84/1 pre-tax profit, with less than 224/1 odds of winning the total $105,000 (less because you can win the $100,000 without winning the $5,000).

Unless $1,250 is chump change to you--if so, I'll send the Fed Ex truck to YOU.

Yes, we would all like to win some money, but I would say challenge and fun are the predominant reasons why most of us are doing this. It may be a fantasy, but I would like to think that the steep entry fee brings out the best competitors out there (similar to the WSOP).

One more thing: You're never going to get rich by being a fantasy football player--why think about it in those terms?

Dyv · Post by **Dyv** » Thu Dec 09, 2004 9:00 am

Originally posted by King of Queens:

One more thing: You're never going to get rich by being a fantasy football player--why think about it in those terms? Well, depends on how you define 'rich' - but I would think $100k is going to put someone on the right path towards rich from playing fantasy games in just a few weeks

[ December 09, 2004, 03:00 PM: Message edited by: Dyv ]

TamuScarecrow · Post by **TamuScarecrow** » Thu Dec 09, 2004 9:21 am

That's what my papa taught me...and that's why I'll always be able afford to live in NYC.I assure you Nag I could live in NYC if I wanted to. But living in a 4000 sqft. house on acreage in rural Louisiana for less than the cost of a townhouse in NYC is more appealing to me. But your point is well taken. Fact is, being married, a lot of my spending is done for pleasure, intrinsic return, rather than monetary return. As Dyv and KofQ have both said in this thread, there are people who will play because they enjoy the competition and I am one of those people.

I have an internet business that allows me to write off just about everything I do because my business goes with me everywhere I go. If you are worried about tax write-offs, consider it.

One more thing: You're never going to get rich by being a fantasy football player--why think about it in those terms?BINGO, KofQ!!! If you can't enjoy it and you can't afford it, don't do it.

Greg Ambrosius · Post by **Greg Ambrosius** » Thu Dec 09, 2004 9:37 am

Originally posted by Follow Me:
Please, add me to the interested list.

Would prefer Auction to Regular Draft.

Thanks,
Mark Moyer
Follow Me Whew, after all this tax talk we finally got back to the main business of this thread. Thanks Mark and we'll add you to the list and see how it plays out. Thank goodness the Beatles' Mr. Taxman is playing in the background for me.

Those who have shown an interest so far:
1. King of Queens
2. Grumpy (Dyv)
3. Lumpy's Losers
4. Gekko
5. JonesFallsTerrace
6. Red Eye Possums
7. TamuScarecrow
8. Route C
9. Mark Moyer (prefers auction)

King of Queens · Post by **King of Queens** » Thu Dec 09, 2004 9:52 am

You know, Greg, perhaps you or Tom can make the move into financial management for fantasy sports players. It might be a lucrative side business for you guys while you're waiting to grow this contest into a giant.

Route Collectors · Post by **Route Collectors** » Thu Dec 09, 2004 9:54 am

Originally posted by Greg Ambrosius:
[QUOTE]Originally posted by Follow Me:
[qb] Please, add me to the interested list.

Would prefer Auction to Regular Draft.

Thanks,
Mark Moyer
Follow Me Whew, after all this tax talk we finally got back to the main business of this thread.

It only took that long because Nag was auditioning for a seat on Pardon The Interruption
"as usual"

Nag' · Post by **Nag'** » Thu Dec 09, 2004 10:20 am

Originally posted by King of Queens:
Doesn't make sense. If you're going to apply this logic to $5,000, you should do the same for $1,250. The max payout in the NFFC--aside from weekly prizes--is $105,000 on a $1,250 entry. That works out to a 84/1 pre-tax profit, with less than 224/1 odds of winning the total $105,000 (less because you can win the $100,000 without winning the $5,000)... It's quite obvious why the same logic doesn't apply to the $1250 NFFC Contest. The $5G League is just that - a league. One that any 14 people who are willing can come together and form. All you need is an a non-bais commisioner, an escrow account and a $50 league hosting website. Keep it all on the d.l. and guess what - NO TAXES! Can't do that with 300+ people that's why we have people like Greg & Tom who put these things together.
And I know it seems like I'm stepping on Greg's toes here by what sounds like discouraging remarks about this idea and it was TOTALLY not my intention. I'll be sure NOT to make what I think are "helpful" observations on these boards from here on. The public here doesn't seem to accept them as such. I only wish well to everyone who joins. Good luck.

Gordon Gekko · Post by **Gordon Gekko** » Thu Dec 09, 2004 10:30 am

Originally posted by Nag':
All you need is an a non-bais commisioner, i'll be the commish and play in the league as well. i'll hide the $ under my pillow.