Fantasy Sports Insurance?

Media / Blog

Fantasy Sports Insurance?

Prev

The Biggest Financial Mistake People Make During Divorce

April 06, 2014

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.

Next

Can the Government Inherit your Estate?

About the author

Van Pappas Headshot

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.

Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. oXYGen Financial is not affiliated with Kestra IS or Kestra AS. Kestra IS and Kestra AS do not provide tax or legal advice. Investor Disclosures: https://bit.ly/KF-Disclosures

The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra Investment Services, LLC or Kestra Advisory Services, LLC. This is for general information only and is not intended to provide specific investment advice or recommendations for any individual. It is suggested that you consult your financial professional, attorney, or tax advisor with regard to your individual situation.

Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.

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

Sign Up

Sign up for our exclusive Sunday Paper with a weekly market commentary, insightful personal finance blogs, and life changing education guides.

Email sign up

Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. oXYGen Financial is not affiliated with Kestra IS or Kestra AS. Kestra IS and Kestra AS do not provide tax or legal advice. https://Bit.ly/KF-Disclosures

This site is published for residents of the United States only. Registered Representatives of Kestra IS and Investment Advisor Representatives of Kestra AS may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed. Not all products and services referenced on this site are available in every state and through every representative or advisor listed. For additional information, please contact Kestra IS Compliance Department at 844-553-7872.

PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of the web sites provided here, you are leaving this web site. Kestra IS and Kestra AS makes no representation as to the completeness or accuracy of information provided at these web sites. Nor is Kestra IS and Kestra AS liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technologies, web sites, information and programs made available through this web site. When you access one of these web sites, you are leaving our web site and assume total responsibility and risk for your use of the web sites you are linking to.