What Is Going To Happen To High-Stakes Fantasy Football?

da bears · Post by **da bears** » Sun Aug 07, 2011 4:30 pm

I agree Greg. Its a truly a sad situation over there at the WCOFF. Players who rolled over their money should definitely have the option to cash out now because of new ownership and a new grand prize.

[ August 07, 2011, 10:31 PM: Message edited by: da bears ]

da bears · Post by **da bears** » Sun Aug 07, 2011 4:34 pm

Originally posted by Tom Kessenich:
I have to admit that I'm surprised that anyone who rolled over money would do so willingly once again. Isn't that part of the reason why things spiraled so wildly out of control in the first place? I work in this industry but I'm also a long-time player and as a player my first order of business would be to get paid. I wouldn't want to be rolling over any money in the future considering what has transpired thus far. So that really does surprise me to hear people are still intending to do that. Should this transaction ever take place, hopefully the people who rolled over prize winnings will be given the option to receive all of that in cash immediately. I wouldn't settle for any other option if I was in that situation. Agreed Tom. If I had rolled money over I'd take it back in a heartbeat if given the option of cash or playing this year.

King of Queens · Post by **King of Queens** » Sun Aug 07, 2011 4:44 pm

Originally posted by Tom Kessenich:
I have to admit that I'm surprised that anyone who rolled over money would do so willingly once again. Isn't that part of the reason why things spiraled so wildly out of control in the first place? I work in this industry but I'm also a long-time player and as a player my first order of business would be to get paid. I wouldn't want to be rolling over any money in the future considering what has transpired thus far. So that really does surprise me to hear people are still intending to do that. Should this transaction ever take place, hopefully the people who rolled over prize winnings will be given the option to receive all of that in cash immediately. I wouldn't settle for any other option if I was in that situation. NEVER EVER ROLL OVER YOUR PRIZE MONEY

IN ANY CONTEST

UNDER ANY CIRCUMSTANCE

You're welcome.

Tom Kessenich · Post by **Tom Kessenich** » Sun Aug 07, 2011 4:44 pm

From an industry perspective, what concerns me the most (besides the obvious lengthy delay in paying prize winners) is the idea that an event would go forward before all of the prize winners from the previous year have been paid. I would think the first order of business would be to pay all of the prize winners first and then and only then begin the plans for the current year. That strikes me as a significant risk to all future players to be taking part in an event that hasn't paid all of its previous year's prize winners. And that's not even taking into account those playing in the baseball event who must be wondering about the status of prize winnings for that event.

Like Greg said, this is frustrating to all of us because there are so many questions and no one has provided any concrete answers. It's really unfortunate.

Greg Ambrosius · Post by **Greg Ambrosius** » Mon Aug 08, 2011 2:08 am

Originally posted by King of Queens:
quote:
[qb] NEVER EVER ROLL OVER YOUR PRIZE MONEY

IN ANY CONTEST

UNDER ANY CIRCUMSTANCE

You're welcome. [/QUOTE]I know it's probably not going to happen, but I'd like to see all of the remaining game operators agree in the future to get rid of prize rollovers. Yes, it's reportedly done with the players in mind, but here's a perfect example of how it holds the players and even the industry hostage. If all of those players had their winnings in hand right now would all of us be in this spot right now? No. Why not have a very transparent process where you collect the entry fees and pay it all out as fast as you can when the season is over with? Then the players get what they paid for and every season starts fresh. That would also prevent any shortcomings of prize payouts or at least show which contests can actually make the prize payouts each year. Right now too many contests are set up where the prize money can be hidden from season to season.

If it helps our industry grow, why wouldn't we all agree to this? Other than a supposed tax break, why wouldn't players want cash in hand weeks or even days after they've won their money? Am I missing something?

[ August 08, 2011, 08:08 AM: Message edited by: Greg Ambrosius ]

Quahogs · Post by **Quahogs** » Mon Aug 08, 2011 3:47 am

Originally posted by Greg Ambrosius:

If it helps our industry grow, why wouldn't we all agree to this? Other than a supposed tax break, why wouldn't players want cash in hand weeks or even days after they've won their money? Am I missing something? This is why -> the cash never makes it into their hands.

particra · Post by **particra** » Mon Aug 08, 2011 4:14 am

Are you suggesting that I shouldn't trust people whom I don't really know in any meaningful way to hold onto my money in an industry with a substantial history of failure/fraud? Interesting.

Superpion · Post by **Superpion** » Mon Aug 08, 2011 4:26 am

Originally posted by Hells Satans:
Are you suggesting that I shouldn't trust people whom I don't really know in any meaningful way to hold onto my money in an industry with a substantial history of failure/fraud? Interesting. The strong tones of sarcasm and condescension are duly noted. The act of rolling over prize money has proven to be symptomatic within the fantasy industry of a company that has created an unsustainable business model and is essentially betting on the come.

For high stakes fantasy sports to exist, there has to be a trust between the gamer and the operator. Removing an operator's ability to leverage their failing model into a bigger problem and thereby keeping them honest is an independent concept from trusting an operator in the first place. There is a clear distinction.

Glenneration X · Post by **Glenneration X** » Mon Aug 08, 2011 4:53 am

I'll admit that I was a big proponent of rollovers and all the perceived benefits that went along with it. I've allowed myself to get involved in numerous debates across several contest message boards supporting the practice (usually debating Gekko).

I no longer feel the same. The negatives far outweigh the positives.

Ted's Cracked Head · Post by **Ted's Cracked Head** » Mon Aug 08, 2011 5:02 am

I have never received a rollover instead of payment but if you take one does the operator still send out the appropriate tax forms?

I am curious.