How To Make Money By Hosting Your Own Online Fantasy Sports League
If you’re interested in any type of sport then you’re probably familiar with fantasy sports leagues. Before the Internet they were run using a pencil and paper, the stats from the local newspaper and a few mugs of icy cold beer. These days, though, they’re much more sophisticated. The competition is much more fierce as people from all over the world join Internet leagues and the stakes are much higher. Here’s how you can cash in and make money online by hosting your own online fantasy sports league.
It’s easy to set up a website and get your league started but it helps if you’re already familiar with how they work. So the first thing you should do is choose a sport you’re really interested in and join a few online fantasy leagues yourself.
When you join a fantasy league you choose players to create your own team. The players you choose from are those real-life sports stars who actually play the game. For example if you join a football fantasy league you might choose your quarterback from the Buffalo Bills, your receiver from the Miami Dolphins and you kicker from the New England Patriots. Throughout the season your points are adjusted based on the actual in-game performance of the players you chose.
Fantasy leagues are fun for everyone who joins, but if you really want to win then you need to know a lot about the game so you can draft the best players for your team. And if you want to make money by hosting your own online fantasy sports league, you not only have to know about the sport, you have to know about running a league and how to run a website.
How to run a fantasy league
If you’re only going to open your league up to a small number of players, you can run it the same way fantasy leagues have been run in the past – get out a pencil and paper, read the newspaper every day and watch all the sporting news, and keep track of everything manually. If you’re going to do this though, remember that it’s going to take a lot of constant attention to keep up with everything. Your players will all be playing a fee to join your league and they expect it to be run properly.
If you’ve played in any online fantasy leagues you’ve probably seen how huge some of them can be. Hundreds, or even thousands, of members all analyzing stats every minute of the day. There’s a lot of money being tossed around on those huge sites and it looks like it would be impossible to keep up with.
But there are dozens of fantasy sports software programs out there and that’s how those webmasters are managing those large sites. If you’re a member of any of those sites and you like the way they’re being run, take a look around to see what software they’re using. You might even try contacting the owner of the site to ask him what he recommends.
Using fantasy sports software is really the only way to go if you want to really make some money at this. Otherwise, you’ll never be able to handle all the record keeping. If you can’t find any information on the site you’re using, then do a search for ‘fantasy sport software’ and you’ll see pages of results. Make sure the software you choose handles the sport you’re interested in and a lot of them offer a free trial period so you can test them out.
Running your fantasy sports league online
You’ll also need to set up a website and, since you’ll be using a software program to run your site you’ll have to use paid hosting. Don’t even think about trying to use a free site like Blogger. You won’t be able to install your program and it would never be able to handle the traffic. Web hosting will only cost you around $10 a month and a domain name is just a few bucks.
The software you choose will have different ways for you to handle league fees and prize money and you’ll want to make sure you get all your fees up front, before play starts. That way you’ll have no problems when it comes time to award prize money.
But don’t stop there. There’s real money to be made by running ads on your site, like Google Adsense or sponsored ads from local businesses. If you’re really creative, design a logo for your fantasy league and head over to Zazzle.com or CafePress.com and set up a shop selling Tshirt, hats, coffee mugs, mouse pads and dozens of other customized products. With a little imagination you can make tons of money by hosting your own online fantasy sports league.
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