We have just launched a brand new feature on the bench called the Premiership Wager.
The Premiership Wager lets you put a bet on the outcome of your season long fantasy Competition. All of the coaches submit their wager through the site which forms your competitions prize pool. At the end of the season, the winner of the Competition will get their prize paid straight into their betting account.
As a Competition Manager, you have probably been doing this yourself and so would know of the hassle of having to collect the entry fee from your coaches, chasing up the late payers, sticking the cash somewhere (so you don’t spend it) and then paying it out at the end of the year.
As a Coach, you might know the joy of winning the season, only to have to wait for the last of the late payers to pay their way or for your competition manager to put his hand in his pocket, before you get your cash.
Well now, the Premiership Wager can take all of that hassle away for you and manage your competitions prizes.
Check out the video above for a sneak peak into the Premiership Wager.
As the Competition Manager, all you need to do to setup the Premiership Wager is pick the entry fee amount and the split of the prize pool between the winner and runner-up – that’s it.
The Coaches will receive an email with all of the details can can simply click the link and pay through the site.
The cash gets stored in a trust account for the year and upon your Premier being decided, will be automatically transferred to the winner and runner-ups account.
To try to keep on top of late payers (all Competitions have them, and you know who you are!), when you have the Premiership Wager running, all Coaches must have joined the Premiership Wager before they can submit their team. Coaches will continue to be locked out from submitting their team until they have either paid or we hit round 3 after which time the betting pool is closed. After round 3, all Coaches will be able to enter a team however only those who joined the Premiership Wager will be eligible for the prize pool.
If you want to learn more, you can have a look at the rule of the site here.