One of the big questions in fantasy sports leagues is how should you allocate players who are new to the league? Many leagues use a waiver process, where teams ranked lower in the standings, or maybe teams that have gone longest without making a pickup, get priority. For high value players, this is unsatisfying, as plenty of owners will want the guy, but some arbitrary rule determines who will get him.
Some leagues simply have a first-come, first served policy, where whoever makes the pickup first gets the player. That rewards owners for paying close attention to news, or perhaps simply being able to pay attention, so I like this a little better than a waiver process, but it still doesn’t seem fair, and there can be a race to make a move in response to news. I still recall hearing about a trade that sent Lee Smith to the Cardinals in 1990 on the radio, and rushing to call our league commissioner while hoping he hadn’t heard of the move first. I was lucky enough to win Smith, who then saved 27 games for the Cardinals after the move.
Others use a FAAB (Free Agent Acquisition Budget) bidding process, where teams start with a fixed budget, and enter sealed bids, with the highest bid winning a player.
Our leagues use a hybrid of the latter two. These are Rotisserie scoring leagues, and lineup changes only take effect weekly. So we have a FAAB auction, scheduled to run at 6:00 AM EDT on the first day of the week. The highest bid on an unowned player in that auction wins him.
The problem with FAAB bidding as some sites process it, however, is that if you lose your bid(s), you might not get a new player to replace an injured player. Our leagues handle this situation by having a short window of first-come, first-served pickups, between the bidding deadline and the weekly move deadline. So if you need to make a pickup for your injured player, but you don’t win the FAAB auction on the guy you wanted, you can pick someone else, whom nobody else bid on, to replace your injured guy. You get the best of both worlds: competitive bidding for highly valued players, but flexibility to fill a slot with somebody no one else bothered to bid on, all before your weekly deadline! And while you still need to pay attention, you don’t have to stay plugged in 24/7 to transaction news.