At Fantom Odds, we allow the ability to propose bets to your fantasy football leaguemates, whether they're straight bets (one bet) or parlays (multiple bets). But it may be difficult to find someone to back the other side of your 500/1 parlay that you want to sweat out.
So we came up with the Fantom Bank, where we've created a league-wide competition to settle who is the top bettor in your fantasy league—either for each week or for the entire season. For instance, each league member can put $20 in a pool and the winner of this competition gets the pot. Keep in mind that Fantom Bank is only available for premium leagues.
Each league member is awarded 1,000 Fantom tokens (an imaginary currency) that can be wagered on any Fantom Odds market. The smallest bet you can do is for one token, and you won't be able to exceed your weekly balance. With your tokens, you can wager however you'd like, whether it's on multiple longshot parlays or on the biggest favorite's moneyline. If you use up all 1,000 tokens for the week, you'd have to wait until next week (the following Thursday morning) for another 1,000 tokens to be refilled.
We've created some safeguards to ensure fair play. You cannot make a bet on a market that involves a team having an incomplete starting lineup. If someone tries to create an advantageous line by putting in their bench players at the time of the bet, you can view the lineups while the bet was placed in each Fantom Bank betslip. If the lineup at the time of the bet was completely different than the final starting lineup, you can dispute the wager and have your league vote to nullify it. But we obviously encourage all league members to use the honor system for Fantom Bank and don't try to cheat, especially if everyone puts in money for a weekly pool.
There is also a timer for selected wagers to be placed to make sure that the odds don't drastically change, especially if you're placing a bet while games are going on. We don't want a situation where someone selects 10 bets and stays on the create bet page for an hour without odds updating. When there are zero games being played, the timer is set for 10 minutes after you've selected your bets. When there is at least one game being played or within one hour of kickoff, the timer goes down to four minutes.
So how can you catch suspicious activity? Fantom Odds will track the results (which will be final lineups, not lineups at the time of the bet) in three different ways—winnings, records and best finishes. From our scoreboard, you should be able to detect any outliers and potential suspicious betting.
Winnings: Winnings are calculated by subtracting your amount of tokens after all wagers are decided from the original 1,000 tokens. So if you end up with 1,200 tokens after a week of wagers with Fantom Bank, you will be scored at 200.00. If you finish with 700 tokens after a week of wagers with Fantom Bank, you will be scored at -300.00.
Records: Records are straightforward; it will track each league member's wins and losses throughout the week on every Fantom Bank bet placed. So if you won one straight bet at +100 odds using 980 tokens and lost 20 parlays for a token each, your winnings would show as 960.00 while your record would be 1-20. If you see someone finishes with a 25-0 record or is up 10000.00 tokens for a specific week, you're able to view all their bets for the week (along with lineups at the time of the bet) to monitor suspicious activity.
Best Finishes: The third tab on the scoreboard is best finishes, where it produces numerical standings based on the net tokens won or lost for the week.
Not only does the scoreboard track winnings, records and best finishes each week, it also provides a rolling tally for each. So you can see every league member's overall winnings, records and how many times they finished in first place if you wanted to turn Fantom Bank into a season-long competition (or just to track for fun).
Besides being able to see disputed bets, you're able to view the most recent bets for your league's Fantom Bank as well as the most popular bets for a given week. Popular bets can be the same wager either as a straight bet or as one of the legs in a parlay (like multiple league members betting on the same team's moneyline or betting the over on the same player's fantasy score).
If you have any further questions about Fantom Bank, please email us at support@fantomodds.com.