Fantasy Sports Insurance For Main Events/Auction Championships
Posted: Tue Mar 08, 2011 3:52 am
Okay, I apologize for the delay in announcing an insurance policy for those who pay by check this year, but it's been a hectic, hectic time and we just couldn't finalize this much sooner. We are definitely going to offer an insurance policy this year for NFBC owners, but it has to be slightly different to make sense for everyone. And if anyone likes the FSI policy well enough to buy additional insurance on their players they can.
I don't have all of the details yet, but I hope to have it very soon and post it here. Basically the details are that if you pay for your Main Event and/or Auction Championship the NFBC will give you free insurance on one player that is on the FSI player list. If that person spends 60 or more days on the DL you get paid a certain percentage of your entry fee for the damage. Simple enough and unfortunately several NFBC owners were paid accordingly in 2010.
This is available free for Main Event and Auction Championship participants. Last year we did offer it for the Diamond, Ultimate and Super too as we asked all owners to pay via check for those events. I honestly can't justify paying that expense on top of the prize payouts this year and hopefully you will understand why.
We are already paying out 93.3% in the Diamond and last year Fanball still paid an additional 2% on top of that for the insurance. I understand why we did that, but it's a tough $3,000 expense for that league. Same with the Ultimate League, which was a $1,500 expense. Instead, we increased the Ultimate League prizes 2.5% to 90% and used that money to increase second place. The Supers also have a solid 87.5% payout without free insurance.
I am asking all of those owners to pay via check rather than credit card so that we can continue with these high payouts while still providing a great live draft experience. We still have a lot of costs with the live drafts and we have food and drink without any Events Fees. So hopefully those owners will understand why another freebie -- free insurance -- isn't financially possible this year. But if any owner in the Diamond, Ultimate or Super League wants to buy insurance on any player FSI will make that available to them at a 2% cost. More details on that later.
But I'm pretty sure we can handle insurance for the Mains and Auctions and FSI will have a web site where you'll select your player after the drafts and auctions. Yes, you can send in your checks now for any and all events and just email Tom at [email protected] once you do that so that we don't also hit your credit card. We get daily reports about checks arriving, but feel free to email us as well and we'll be on the same page immediately.
Send checks to:
STATS LLC
NFBC: Attention Accounting Department
2775 Shermer Road
Northbrook, IL 60062
Thanks all and look for more details soon.
I don't have all of the details yet, but I hope to have it very soon and post it here. Basically the details are that if you pay for your Main Event and/or Auction Championship the NFBC will give you free insurance on one player that is on the FSI player list. If that person spends 60 or more days on the DL you get paid a certain percentage of your entry fee for the damage. Simple enough and unfortunately several NFBC owners were paid accordingly in 2010.
This is available free for Main Event and Auction Championship participants. Last year we did offer it for the Diamond, Ultimate and Super too as we asked all owners to pay via check for those events. I honestly can't justify paying that expense on top of the prize payouts this year and hopefully you will understand why.
We are already paying out 93.3% in the Diamond and last year Fanball still paid an additional 2% on top of that for the insurance. I understand why we did that, but it's a tough $3,000 expense for that league. Same with the Ultimate League, which was a $1,500 expense. Instead, we increased the Ultimate League prizes 2.5% to 90% and used that money to increase second place. The Supers also have a solid 87.5% payout without free insurance.
I am asking all of those owners to pay via check rather than credit card so that we can continue with these high payouts while still providing a great live draft experience. We still have a lot of costs with the live drafts and we have food and drink without any Events Fees. So hopefully those owners will understand why another freebie -- free insurance -- isn't financially possible this year. But if any owner in the Diamond, Ultimate or Super League wants to buy insurance on any player FSI will make that available to them at a 2% cost. More details on that later.
But I'm pretty sure we can handle insurance for the Mains and Auctions and FSI will have a web site where you'll select your player after the drafts and auctions. Yes, you can send in your checks now for any and all events and just email Tom at [email protected] once you do that so that we don't also hit your credit card. We get daily reports about checks arriving, but feel free to email us as well and we'll be on the same page immediately.
Send checks to:
STATS LLC
NFBC: Attention Accounting Department
2775 Shermer Road
Northbrook, IL 60062
Thanks all and look for more details soon.