Tens of millions of people play fantasy sports, following everything from the NBA to the NFL, but it can be a frustrating experience when players in a league have to discuss entry fees or payouts. Money can be a touchy subject, especially when you have to hound strangers or even friends and family for weeks just to secure already agreed upon funds. Find out what TeamStake can do for you and 5 Ways to Improve Your Fantasy Sports Entry Fee Collection Experience.
1. Seamless Entry Fee Collection
Whether you are playing fantasy sports with close friends or people you met over the internet, collecting payments is always a hassle. Commissioners are forced to continuously ask for entry fees and league members often wonder if they will see their money again.
TeamStake offers the solution for all league members across all fantasy sports platforms. TeamStake has automated systems put in place to set payment deadlines and send reminder emails so that your league can focus on the draft instead of who has yet to pay. The funds are held securely all season and guaranteed to be distributed however your league sees fit. The best part? It’s free. TeamStake charges no fees and takes no percentage from the pot. They simply exist to make the fantasy sports experience better for all leagues.
When playing with strangers online, sending someone money on PayPal with no guarantee of seeing it again can be a frightening prospect. With TeamStake, you can feel safe knowing all transactions are safe and secure, with automatic encryption of every member’s confidential information using industry-leading technology. Payment information isn’t stored and league members will never see each other’s bank account or credit card information. Finally, for total peace of mind, the payout structure is verifiable by all players, so no one has to feel like they are being taken advantage of.
3. Distribution of Winnings
Normally, after the season is over, winners should be ecstatic, but they can find themselves facing anxiety over whether or not they will actually see their money. TeamStake eliminates this concern with just one click by allowing the payout setting to be completely customizable and verifiable by league members.
4. Free Payment Methods
One of the most frustrating parts of using any online service is the unreasonable transaction fees that are often charged. TeamStake firmly believes that nobody should pay anymore than they have to, which is why it is completely free to use, with the exception of the 3% fee that is charged by debit/credit card processors. In addition, in the interest of fairness, TeamStake does not take a percentage from any league pot and will never pocket late fees, which go directly back into the league pot.
There should be no limits on how a commissioner wants the fantasy league’s payout structure to be set up. That’s why TeamStake offers almost every kind of option imaginable and lets you pay out an unlimited amount of league members. TeamStake allows for all different mainstream payout options (Playoff Champion, Most Points Scored, Highest Weekly Point Total) and also has options for “(n)th place” payouts for maximum customization. No matter what type of league you play in, TeamStake has you covered.