DraftKings Releases League Hub Season Long Payment Manager
Earlier this summer, DraftKings announced that they’d be awarding the top finisher in the Week 1 NFL Millionaire Maker with $1,000,000 to share with their ESPN.com fantasy football league mates. Now, DraftKings is giving ESPN.com fantasy football players an easier way to put money on the line regardless of their finish in the Milly Maker by announcing League Hub.
League Hub is a payment management system for ESPN.com League Manager leagues which uses DraftKings proven, secure payment system to hold funds over the course of the season, and pay them out in set amounts at the end of the year to the DraftKings accounts of the victorious players.
Users will link their ESPN Fantasy account with their DraftKings account and go to a designated league page to pay their entry fee for the league. The funds will then be held to be distributed via a payout system that can be set by the league manager, and then either approved by the LM, or voted upon by the league at large.
There is no additional fee for the service, users will only need to deposit as much as they need to enter their league. DraftKings will still send out tax forms to those who have net profits over $600, which could happen for winners of high-stakes season-long leagues managed on League Hub, but otherwise this is a hassle-free way to store league funds for the duration of the NFL season.
DraftKings allows for a “League Manager Fund,” which can be used to cover administrative expenses like draft party funds or trophy costs. League Managers can then define the payout with standard positon-based payments, and optional bonus payments for weekly wins, or for having the most points, the best record, or the longest winning streak.
This is another way DraftKings is working to appeal to season-long fantasy players who may not have made the leap to daily fantasy sports yet, as those who play for cash in season-long fantasy are likely candidates to enjoy weekly NFL games, or daily games in other sports. It’s also a free service that takes some of the hassle out of running a paid fantasy league, and gives people the ability to collect dues easily for fantasy leagues that may be spread across the country.