Anyone who plays fantasy football -- or any fantasy sports for that matter -- knows how easily it is to be obsessive when it comes to the hobby. Playing the role of GM is nothing short of addictive, and when you start putting money on the line, it only ups the ante.
But I can't possibly comprehend what it would mean to have ... one meeellion dollars on the line. But a bunch of really, really rich guys can.
The financial crisis has been scorching investors around the globe. But through it all, some of the world's wealthiest financiers still have enough money to play in one of Wall Street's most exclusive and secretive competitions: A fantasy football league where the total purse is $1 million.
[...]According to two participants and several business associates of league members, each of its 10 teams pays $100,000 to enter. The winner takes home a grand prize of $600,000, with $300,000 going to the second-place finisher and $100,000 for third place. These sums dwarf the typical pot for a fantasy football league, where each member antes up somewhere between $250 and $500 and the winner's prize rarely exceeds $3,000.
Actually, I take that part about not knowing back. If I was in a league like this, it would mean I was a millionaire, and I think that would be alright.
Still, there is definitely something disconcerting about a bunch of Wall Street millionaires playing fantasy football at 100 grand each. On the other hand, it's reasonable to ascertain that a) they have enough money to do whatever they want and b) this cash was probably in place long before the heavy economic downturn.
In fact, I would probably venture a guess that it's one of the safer investments out there right now. Unless you drafted Tom Brady. Then you're in a really expensive world of pain.
