These are 2 major fantasy football leagues that are high stakes, and I wanted to know if anyone has ever participated in either before. I was contemplating joining the NFFC auction league next year, but I'm not sure it's worth it. The problem is that the entrance fee is $650 or $1250. My concern is that if you win more than $600 in prizes (basically 1st, 2nd, 3rd in playoffs, or 1st in regular season record or points), you then have to pay taxes on your prize money. Factoring that in, it almost makes the reward not worth the risk, especially in a 14 team league. You can also have a co-manager for an extra $50, but the prize money is paid solely to the primary manager, so only that person pays the taxes. Would it be unethical to have a co-manager who is in a lower tax bracket, and just sign him up as the primary manager even though I'd be calling the shots?

If anyone has any experience in these type of leagues, I would appreciate any sort of input you might have. Thanks!

Wow, that's some high stakes FF DOL. LOL. I don't see why you couldn't skirt around it that way though, there wouldn't be anything illegal there.

Well I'm not sure I can actually do it. It seems to me this is one I should probably run by the wife first

Judging by the number of responses, few will care, but I decided I'll post an update anways. I will likely be entering the national fantasy football championship auction league being held in Chicago on Friday, September 4th. I have not yet decided in I am entering the classic auction (14 teams) or the primetime auction (12 teams). I inquired previously without much response, but I'm wondering if anyone has participated in these type of events and if so, could you share some insight? Thanks.....

I have no experience in such high stakes leagues, but I'm wondering about the part about paying taxes. If this is held in Chicago I don't know if you would have to pay taxes as it would not be a "legal" league.

If you win that amount at a casino or such yes, but those are "legal" winnings.
Just like football boards at bars and such,
I've never paid a cent of tax on anything won over $600.

Good Luck!!!

Go Pack!!

The NFFC website states that they are required to submit a certain form (exact form escapes me at the moment) to the IRS for any winnings over $600, so I'm assuming that means I'd be getting taxed on it. Not really sure, however. Odds are that I'll be in the middle of the pack and not win anything anyways. I've always done extremely well playing fantasy football w/friends and family (especially auction leagues), but this is my first foray with the big boys. We'll see how it goes.....