As the 2024 NFL season kicks off with Patrick Mahomes and the defending world champion Kansas City Chiefs going for a threepeat Thursday, September 5, Sundays are about to get a lot more exciting for football fans across the country.  

With the first official game already in the books, more than 30,000,000 fantasy football enthusiasts will be ready to see if their carefully constructed fantasy football rosters will dominate the competition. If you were fortunate enough to draft a star like Miami Dolphins wide receiver Tyreek Hill or San Francisco 49ers running back Christian McCaffrey, you’re probably feeling confident about your chances of winning this season. 

Fantasy football has evolved from a casual hobby to a multi-billion-dollar industry, with millions of participants and prize pools that can reach six figures or more.  With gambling legal now in 38 states (and the District of Columbia), remember that fantasy football winnings that exceed $600 can become taxable income with the IRS and fantasy football is considered gambling for those 12 states that do not allow gambling at this time. 

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Since fantasy football gambling has never been more popular, that comes a new level of intensity and commitment from players. But with the unpredictability of injuries and other unforeseen circumstances, some are asking, “Do I need fantasy football insurance?” 

Fantasy football insurance (FFI) might sound like a strange concept at first, but it’s becoming a real consideration for those who take their fantasy leagues seriously. After all, with top prizes sometimes reaching $100,000 or more, the financial implications of losing a star player to injury can be significant. 

So, what exactly is fantasy sports insurance, and how does it work? Let’s break it down. 

What is fantasy football insurance? 

Just like any other form of insurance, fantasy football insurance is designed to protect you from financial loss — in this case, the loss of a key player on your fantasy team. The idea is simple: You pay a premium to insure one of your top players, and if that player misses a significant portion of the season due to injury, you receive a payout.  Companies like PlayerSure make it easy to buy this type of insurance. 

Here’s how it typically works: 

Find Players: When you purchase fantasy sports insurance, you select one player from your team who is on the Top 100 list provided by your insurance provider. This player will be the one covered by your policy. 

Choose A Plan: If your designated player misses a certain number of games during the season due to an injury, you’re eligible for a payout. The amount of the payout can vary, but it usually ranges from $200 to $320, depending on the league and the policy you’ve purchased. 

Get An Auto Payout:  Unlike most insurance policies where you must file a claim, if one or more of your players is injured under the language in the insurance policy, you are automatically paid out. 

Injuries are an unfortunate reality of the NFL. Even the most durable players can suffer season-ending injuries at any moment. Just look at recent seasons — stars like McCaffrey  and Cleveland Browns running back Nick Chubb have been sidelined for significant periods, leaving fantasy managers scrambling to replace their production. 

In 2024, players like Cincinnati quarterback Joe Burrow and Los Angeles Rams wide receiver Cooper Kupp are highly valuable, but they also come with injury risks. That’s where fantasy sports insurance comes in. 

San Francisco 49ers’ running back #23 Christian McCaffrey scores a touchdown during Super Bowl LVIII between the Kansas City Chiefs and the San Francisco 49ers at Allegiant Stadium in Las Vegas, Nevada, February 11, 2024. (PATRICK T. FALLON/AFP via Getty Images)

Consider the case of a top-tier quarterback like Buffalo Bills Josh Allen. If you and he were to suffer a serious injury, your chances of winning your league could plummet. With fantasy sports insurance, you’d at least have a financial cushion to soften the blow. 

Is It Worth the Investment? 

The decision to purchase fantasy sports insurance ultimately comes down to your risk tolerance and how much money you’ve invested in your league. For those in high-stakes leagues with large entry fees, the cost of insurance might be worth it for the peace of mind it provides. 

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After all, losing a star player might not only hurt your chances of winning but also the investment you’ve made in the league. 

In most cases, it might be better to take your chances and rely on your skills as a fantasy manager to navigate any challenges that arise. 

What’s The Future of Fantasy Football Insurance? 

As fantasy sports continue to grow in popularity, the demand for fantasy sports insurance is likely to increase. More companies will offer tailored insurance policies for different types of leagues, including dynasty leagues, best-ball formats, and even daily fantasy sports. 

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In fact, some insurance providers are already exploring ways to expand their offerings. For example, policies that cover multiple players on a team or provide payouts for shorter-term injuries are being considered. These innovations could make fantasy sports insurance even more appealing to a wider audience. 

As you prepare for the 2024 season, take a moment to assess your team and your league. If you feel like the stakes are high enough, fantasy sports insurance might be just the safety net you need to enjoy the season with a little less stress. 

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