And with the first pick of the 2014 Fantasy Football Draft….
Ok, well, not yet, first, you need to make sure your fantasy football or whichever sport site and business are ready to make such pick. (Personally this year, I'd take Adrian Peterson still).
Fantasy sports websites and is peripheral business are a booming industry. But, before you start your own site, there are a few things you must know. We’ve all done some type of league, whether football, baseball, basketball or even golf. And now, the business of fantasy sports has become big business, several hundred million dollars type of big business. So, how can you, as a new fantasy owner, business owner, protect yourself and your company. Like you would before a Draft, you can best be prepared by doing your homework, before the Draft, i.e., starting your business.
Fantasy sports has always had an interesting place in the sports landscape. It’s a business, sure, its an activity, sure, but with it comes questions both at the state and national level. These leagues and business seem to exist on their own, and as they grow, so do the legal obligations and potential legal questions concerning them. From banking, to marketing, legal concerns are all around.
When you start your fantasy sports site, first ask which type of entity do you want to be. That, like the first pick in your Draft, depends on many factors. How many members does the company consist of? Its financial structure? Its more than just launching your site, and making picks.
Making your own fantasy website, business, can become, yes, a fantasy, if you don’t plan and, yes, draft accordingly. Like a good draft, a good business needs draft planning.
So, with that 1st pick, you’re on the clock……………