I always believe its a good idea to have a cash prize. Sure, winning the league trophy and the bragging rights is important, but there's nothing that motivates fantasy baseball managers through a long season than a cash prize.
The cash prize should not just be for first place. Give cash prizes to the entire first half of the league. If a manger falls behind early, then they have an incentive to stay involved and attempt to move up to fifth place in a ten team league.
How much money is the question. The amount of money invested per player is going to depend on how wealthy your friends in the league are. It should be enough to keep them interested, but no such much that they start hating you if you make a decision as commissioner that costs them more than just a night out with their wife or girlfriend. Consider about $100 - $300 per manager.
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