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League Buy-in Tools Assistance


#1

I am initiating a buy in to our league and don’t know the best way to receive the money (wire) and distribute the weekly/final winnings. What app do you use? company? Any advice and assistance would be greatly appreciated.


#2

Are these all friends?? Or random plp you met on the Internet?

If it’s friends i think you can just do in person or the cash app that most people have.
Cash app, venmo, PayPal are the big names.

If it is randoms you might have people who don’t want to send money to some guy they don’t know.
So then i would use league safe… There is a small fee involved so at the end of the year whatever money you win you will lose $3-$5 prob… But if the pot is $100+ dollars it’s really not a big deal… And league safe holds all the money for you and will send out prize money at the end of the year for you.

As far as payouts… If it’s collected in person i just keep all the money in an envelope in a safe at my house and layout after.

If it’s done in PayPal i just wire the winnings to the owners after the season.

So just find out what your group is comfortable in doing and what cash app the majority has and get the rest to download it.

If plp are not keen with you keeping all the money. Appoint a co -commissioner and split the money 50/50 so it’s not all in one place to make owners feel more comfortable.

Hope this helps some


#3

Awesome. That is what I am looking for, I wanted to avoid PayPal since they have a transaction fee, small but a fee non the less. It is a bunch of co workers but many have moved and the league is still standing. Thanks for the information. Thanks again.


#4

Straight cash homie!