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More Betting on Fantasy Football Teams

UNITED STATES – As reported by the Bloomberg: "Dave Cushard, a 32-year-old financial planner from Marshall, Michigan, sits in his office scanning streams of statistical data and lists of top prospects.

"He's not searching for a hot stock, but a productive running back for his fantasy football team -- a team that cost him $1,250.

"Cushard, who works for American Express Co., is among a growing number of armchair quarterbacks participating in fantasy games with entry fees and payouts that dwarf the typical office pool. At least seven leagues have grand prizes of $100,000.

"…Cushard will travel to Las Vegas on Saturday to compete in the National Fantasy Football Championship, which also has drafts in Chicago and New York, and pays out $250,000 in total prize money. He's among 224 participants who have paid $1,250 each to draft a team of National Football League players that scores points based on statistics.

"…The World Championship of Fantasy Football has a $1,450 entry fee and a $200,000 grand prize.

"…Like many fantasy sports participants, Kaganovsky started playing free leagues on the Internet. He joined money leagues about five years ago and recently made the jump to high-stakes games. While most players say they thrive on the competition of fantasy sports, Kaganovsky said the gambling is the biggest draw for him.

"…More than 15 million people in the U.S. played fantasy sports last year, including 12 million in fantasy football, according to a survey conducted by the Fantasy Sports Trade Association. Many are in free leagues available on the Internet, or in leagues with friends and colleagues with entry fees in the range of $10 to $100 and total payouts of $100 to $1,000.

"…Owners of fantasy teams draft players from NFL clubs and field a roster each week, usually with a quarterback, two running backs, two wide receivers, a tight end, a place-kicker and an NFL team's defense. A fantasy team earns points based on the statistics its players compile, such as yardage and touchdowns scored. Each week, a fantasy owner plays another team in his league and the winner is determined by points scored…"

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