
By now most sports fans are familiar with fantasy leagues and the undeniable appeal of stepping into the shoes of an imaginary general manager. Every year 27 million fantasy enthusiasts participate in drafting, managing, trading, and adjusting lineups, all in the hopes of beating the other would-be general managers in their league. The level of immersion, however, depends on the type of league in which you participate.
There are three basic types of leagues: standard (or redraft), keeper, and dynasty. The vast majority of those 27 million fantasy players participate in standard leagues. A smaller percentage of those 27 million players participate in keeper leagues. The final type of league, of which an even smaller percentage of fantasy players participate, is a dynasty league.
Dynasty leagues require a multi-year commitment from team owners, but present perhaps the most immersive experience a fantasy player can have. Though rules vary from league to league, the basics of a dynasty league are fairly straightforward. In the first year of a fantasy league teams may draft any player available at the time of selection. It is during this initial draft that the variances between standard leagues and dynasty leagues first come into play. After the initial draft in a dynasty league players remain on the same team from season to season unless managers trade them or release them. Knowing that a player is going to remain on your roster for the long-term makes it imperative that managers take into account future value as opposed to value for just this year.
To demonstrate this influence let’s take a look at two wide receivers for the 2010 NFL season: Randy Moss and Calvin Johnson. In a standard league most would agree that Moss should be selected ahead of Johnson based on value for the upcoming season alone. In a dynasty league, however, the decision is not that simple.
First and foremost is the age difference. While Moss may currently be one of the two or three best receivers in the NFL, he is 33. Moss’ best years are behind him. Drafting him offers you no upside; you do not draft Moss expecting him to get better. You draft Moss expecting stats similar to last year’s with a very realistic potential for decline. By contrast, Johnson is 25. He is already a top 10 wide receiver in the NFL, and he has as much upside as any other pass-catcher in the league. You draft Johnson expecting better numbers than last year with increasingly better stats in the years to come.
Marvin Harrison, Cris Carter, and Michael Irvin are three recent wide receivers with career arcs similar to that of Moss. All three of these elite receivers' fantasy value collapsed between the ages of 33 to 35. Based on their careers it is likely that Moss has 2 possibly 3 more years of good to elite performance before his fantasy value collapses. By contrast, if Johnson’s potential and scouting reports are to be believed, he is barely entering his prime performance years where he has the ability to give you 8-10 more years of elite performance.
Another factor to consider between these two receivers is their quarterback situation. No one will argue that right now Tom Brady is a better quarterback than Matt Stafford, but the question is for how much longer. Stafford was the first overall selection in the NFL draft last year because he has the potential to be one of the best quarterbacks in the game. You combine a young superstar quarterback with a young superstar wide receiver and you get the makings of a fantastic fantasy duo for the next decade. Further muddling Moss’ fantasy outlook is the fact that Brady is currently in the final year of his contract. While it would be a shocker if Brady left the Patriots for another team, it remains a possibility after this season. Should Brady leave, that would be devastating to Moss’ value. Everyone remembers Moss’ Raider years. With no quarterback to throw to him Moss became a pouty underachiever.
So what does all this mean to a dynasty league manager? It means that no one would belittle you for drafting Johnson ahead of Moss under the dynasty format. In fact, drafting Johnson first may be the prudent choice given the variety of factors working in Johnson’s favor for the foreseeable future. These are factors dynasty league managers have to consider in differentiating the value for hundreds of NFL players. Dynasty league managers have to build teams for the now and the later. It is these considerable factors that make the dynasty format so much more immersive than other formats.
The inaugural draft is just one of the mechanisms differentiating standard leagues from dynasty leagues. Once a season ends, so too does the standard league. This is not the case for dynasty leagues. The offseason is where decisions have to be made that will affect your team not only for the next season, but several seasons to come. Much like the real NFL, mistakes in personnel can set your team back years.
During the season, dynasty leagues play similarly to their standard and keeper counterparts. One important nuance is the injured player. In a standard league you would not hesitate to release a player that is injured and out for the season or a significant portion of the season. In dynasty leagues, however, you cannot simply drop a player because he is done for the year. Again, managers have to think about the future. If your first round pick was performing at a high level but was injured and out for the year, you cannot simply release him. That is too much future value to simply let go back into the free agent pool. For this reason dynasty leagues often have one or two “IR” spots on the roster. This means a manager can place an injured player on “IR” for the rest of the season and pick up another player without having to sacrifice the injured player to free agency. Other dynasty leagues do not offer “IR” options leaving managers a tough decision of sacrificing a bench spot on a player who will no longer play the rest of the season.
After the inaugural season, rosters are determined by the rules of each individual league. Some dynasty leagues have subsequent shorter drafts (e.g. 6 rounds) where only rookies are available for drafting. After the draft, managers must make “cuts” releasing players to the waiver wire, where other teams can choose to make a waiver claim on a player. Other leagues open up all available fantasy free agents during the draft, including rookies. Managers then make cuts after the draft. Because of the increased value of rookies, dynasty owners must be more cognizant of college players than standard league managers. Many times the only impact players available in a dynasty league will be rookies.
Dynasty leagues offer dedicated managers a much more immersive and demanding experience than standard leagues. Building a competitive, successful team requires preparation, effective decision making, and some luck along the way, but true fantasy fans would not have it any other way.

