Need your advice: Fantasy Football Business

As I mentioned literally in the comment above, the more people that join, the more prizes there would be. Alternatively I would cap the capacity.

I also mentioned that with the one that got 500 participants there were lots of prizes. I don't see what the scam is personally. Do you know how a business works?

comment by Obers (U3904)
posted 1 hour, 46 minutes ago
So £10 (I know it's £9.99 but to make the maths easy) each from 500 players, you would be turning over £5000 per month just for setting up the league. And then the person who finishes 1st out of 500 (so a 0.2% chance for each player) receives £100, after paying a £10 fee for being part of the league, making a profit of £90. Meanwhile you keep £4900 per month?

Sounds more like a scam than a business to me.
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I'll pay you £20 a month subscription instead of the £9.99 if you let me be some kind of Admin, and cut me in on the scam.

1912

comment by Mike (U1170)
posted 6 minutes ago
comment by Obers (U3904)
posted 1 hour, 46 minutes ago
So £10 (I know it's £9.99 but to make the maths easy) each from 500 players, you would be turning over £5000 per month just for setting up the league. And then the person who finishes 1st out of 500 (so a 0.2% chance for each player) receives £100, after paying a £10 fee for being part of the league, making a profit of £90. Meanwhile you keep £4900 per month?

Sounds more like a scam than a business to me.
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I'll pay you £20 a month subscription instead of the £9.99 if you let me be some kind of Admin, and cut me in on the scam.
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Some people here are very slow.

Guys I previously gave away over £1000 in prizes and the league was (almost) free to join so don't appreciate being called a scam artist. I'm using a previously successful idea and trying to turn in into a business. I've come on here asking for your input so I'm not sure how I'm a scam artist.

I myself used to spend about £10 a week on bet365 and got very little of that back. This offers an alternative to that and a much higher chance of a return.

If I only get 10 members, I don't make any money... If I get 20, I make a profite but do you guys realise how much you have to spend in marketing to get 20 customers? Let's say I have a conversion rate of 2% (this is the typical CRV for ecommerce stors)

that means I have to advertise to at least 500 people to get 10 customers, but it's unlikely I will get that first time.

If running a business was so easy and didn't cost anything you would all be doing it. It takes a lot of time, risk and investment so don't insult me please if you don't know what you're not going to offer anything of any substance.

CVR*

Gentleman, don't take things so seriously. My comment previously was clearly (I assumed) meant to be taken in jest, and Obers even wrote a second comment after his original one to confirm he didn't mean you were scamming people. Lighten up.

I personally think it's a decent idea and if you can make it pay good luck to you, £9.99 isn't a lot of money for most people if it's something you have a big interest in and could become someone's main hobby, with incentive to win some decent prizes.

comment by Mike (U1170)
posted 34 seconds ago
Gentleman, don't take things so seriously. My comment previously was clearly (I assumed) meant to be taken in jest, and Obers even wrote a second comment after his original one to confirm he didn't mean you were scamming people. Lighten up.

I personally think it's a decent idea and if you can make it pay good luck to you, £9.99 isn't a lot of money for most people if it's something you have a big interest in and could become someone's main hobby, with incentive to win some decent prizes.
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Thanks. Didn't see obers second comment, I was blind with rage but I've calmed down now.

I was actually thinking of making the first month free or adding this on as a bonus to an existing business model, so essentially, they wouldn't be paying for membership to the league but much rather a product or service that costs less than £10 to make.

Thanks for your insight. I will play around with this idea for a bit.

No worries

I assume you would be using the official Fantasy PL to run your league, so people can use their current team etc & don't have to create multiple teams/leagues or are you setting up a completely new format/app/league?

Adding cups (using the head to head style games) would be a good way to introduce other ways of prizes, whether it be a monthly cup or something.

comment by Mike (U1170)
posted 20 minutes ago
No worries

I assume you would be using the official Fantasy PL to run your league, so people can use their current team etc & don't have to create multiple teams/leagues or are you setting up a completely new format/app/league?

Adding cups (using the head to head style games) would be a good way to introduce other ways of prizes, whether it be a monthly cup or something.
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At the moment I'm using the official FF league on the PL website to make it easier for people to start but it wouldn't be sustainable to keep doing that. We would eventually have to move everyone over to a new platform where we would have more control. Gambling license would also need to be attained (that costs thousands of pounds in itself).

Would be hoping to get it started first, keep a low profile, and get a bit of cash in to then reinvest and make it much bigger.

I agree about adding cups and head to head leagues. I always enjoy those a bit more than the league itself.

Could have a lot of fun with it, but you guys are right, the way it is right now isn't quite appealing enough.