* Play Throwdown For Cash Prizes *
We teased it and pretty much let the cat out of the bag, but lets make it official as this is the biggest news since the launch of Fantasy Throwdown many moons ago. Effective yesterday you can…
Play Fantasy Throwdown
For Cash Prizes!
That’s right, after hearing this feedback again and again we’ve finally made it a reality that our players can choose to pay an entry fee for their individual challenges, plus upcoming leagues and tournaments, and win cash prizes for those games and contests.
Deposit Funds to Your Account
To do this, simply go to My Throwdown and under your username you should see an option to Deposit funds to your Throwdown account. Your payment is processed via a third-party, PayPal, which keeps your personal and payment information private and secure. We never have access to your payment information. You do not need a PayPal account to do this, as PayPal processes straight credit card payments.
Your Throwdown account is updated automatically after the payment is approved, which you should see upon returning to My Throwdown, and you can click your account balance to see your transactions. We don’t take any portion of your deposit off the top for Fantasy Throwdown. We just ask that you pay the exact fees that PayPal charges us for receiving the funds.
Entry Fee and Prizes
Now you have money in your account, click Issue a Challenge and you’ll notice options to select an entry fee of $1, $2, $5, $10 or $20. This is the entry fee per player in the challenge, and clicking each one shows the cash prize awarded to the winner. Note anyone can still play for free like always. We haven’t taken that option away.
The cash prizes are awarded for individual challenges as follows:
We hope you find that prize structure more than fair. We aren’t looking to make a big score here. Our long-term goal is to grow our Fantasy Throwdown community by having as many people play and enjoy this great game as possible.
All monies held on deposit from our players is kept in a separate account and never combined with our operating funds. This is our pledge to you, that your money is safe and will be always available and paid out as quickly as possible when you make a withdrawal request.
We’re never going to go down the road of the calamity of a handful of high stakes fantasy football websites from a few years ago that tried to grow faster than they could or should, and used the players’ entry fees to do it. Those sites ultimately went bankrupt, leaving their players short prizes won in those contests.
Fantasy Throwdown was created by fantasy football players who care about and make decisions to do what is best for all of our players.
Is This Legal?
If you are wondering about the legal aspects of this, daily/weekly fantasy sports contests have been operating with entry fees and cash prizes for a few years now, and we feel Fantasy Throwdown falls under the same umbrella as these other websites. The differences are we didn’t offer the pay-to-play option previously, and of course our game format is the best, but in terms of pegging us in an industry with our closest competitors, we are a daily/weekly fantasy sports website.
In a nutshell, fantasy sports are considered games of skill, and are specifically excluded from the Unlawful Internet Gambling and Enforcement Act of 2006 (UIGEA) as a result. Unfortunately, there is separate state legislation that also factors into the legality of fantasy sports, to which we’ve stated in our terms of service that residents of specific states cannot play Fantasy Throwdown for cash prizes. Please review our terms of service to confirm you are eligible.
Stat Changes, Forfeit Games
Also make sure to read the terms of service for details about how we deal with official stat changes, scoring or statistic errors, and when games are not accepted or the draft is incomplete and the game expires. All of the choices made were based on a lot of thought and consideration to make the most reasonable and fair decision for all parties involved.
Okay, there is our big news. We are excited about this change, and we hope you are too! Let us know what you think in the comments, or on Twitter or Facebook. Good luck this week and the rest of the season improving your win-loss record, and now to win a little money, too!