Fantasy Sports Insurance?

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Fantasy Sports Insurance?

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Ok, I’ve heard it all now.  I’m not a fantasy sports guy, but as a numbers person I can understand the attraction.  More than $1 billion is spent each year on Fantasy Sports leagues.  League fees can run from free to $1000.  The more the 25 million people playing in paid leagues can pocket real money.   Those that are spending money find it frustrating to draft a player who gets injured in real life and have to be sidelined on their fantasy team.  An injury can ruin your fantasy lineup and your season could be over just as it is getting started.  Industry studies show that the average fantasy player spends $467 annually on various sports leagues.

Along comes a businessman to create FantasyPlayerProtect.com which provides insurance to reimburse league entry fees plus up to $250 for other expenses like subscriptions to research your players.  With their tag line being  ‘Injuries Happen – FantasyPlayerProtect has your back’, you are able to insure up to 5 players on your team.  The premiums run about 10% of your leagues fees.  And they are underwritten by real insurance companies with A ratings.  He covers Football, Baseball, Basketball and Hockey.

It did not take long for the businessman to have competition and now there is a second group call FSI Fantasy Sports Insurance that provides coverage just for Football.

If you are spending money on a Fantasy team, then YourSmartMoneyMove might be to cover your investment with some insurance.

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About the author

a man wearing a suit and tie smiling and looking at the camera

Van Pappas

Vice President, Private CFO®

Van Pappas, CFP® - Van is a native of Atlanta. He holds his undergraduate degree in Finance with an emphasis in Real Estate. As a planner for 15 years, he earned his CFP designation from Kaplan University. He is currently the Chairman and founder of the Chamblee Chamber of Commerce and sits on the Downtown Development Authority for the City of Chamblee. In 2012, he noticed the value of helping the X-Y Generations and decided to merge his practice with oXYGen Financial.

Background and qualification information is available at FINRA's BrokerCheck website.

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