There are many people who think they are great at fantasy football. If you want to put that theory to the test, participating in a high stakes league is a great challenge. It's a different game and nothing like your home league. Game theory, understanding draft capital, avoiding busts and managing FAAB (Free Agent Acquisition Budget) are some of the keys to success.

There are several different sites to play on and each has their own setup and scoring system. Understanding each one will help determine which one you prefer to play in. The entry fees range from $25 to $20,000.

The most popular are the NFFC (National Fantasy Football Championship) and the FFPC (Fantasy Football Players Championship). The NFFC is PPR with six points for a passing touchdown. The starting lineup has one quarterback, two running backs, three wide receivers, one tight end, one flex, one kicker and a defense/special teams and does third-round reversal. This means the team picking 12 gets the last pick of round one, the first pick in round two and then gets the first pick in round three. The team picking first overall then gets the last pick of rounds two and three before getting the first pick of round four.

The big difference in FFPC is tight ends get 1.5 points per reception compared to one for the other positions. This pushes tight ends way up in drafts so keep that in mind when you see the Average Draft Position (ADP).  The starting lineup consists of one quarterback, two running backs, two wide receivers, one tight end, two flexes, one kicker and a defense/special teams. Passing touchdowns are four points.

Rtsports.com runs an online high stakes championship called “The Fantasy Championship.” Each league consists of 12 teams, with a maximum of 4,800 teams. The entry fee is $250 and the overall championship winner gets $300,000. The starting lineup consists of one quarterback, two running backs, two wide receivers, one tight end, two flexes, one kicker and one defense/special teams with 10 bench spots. It's a PPR format with four points for a passing touchdown. The regular season is 12 weeks with the first week an all-play week and then face each team in the league once. The league championship is in Week 14.

While many people have eyes on the big prize in the overall championship, there are also satellite leagues in which you're only playing against the league and the entry fees all go to that league. These leagues might be best for those dipping into the high stakes arena for the first time. There are different price points, but the higher you go expect the competition to be tougher.

The big prizes are offered in the national contests. This is where you are playing against everyone who enters the contest. In the FFPC online championship with 12-team leagues, the entry fee for the main contest is $350 with a prize pool of $3.1 million. The winner of the overall gets $500,000 and the contest has a maximum of 10,800 entries. The regular season is Weeks 1-11, the league playoffs are Weeks 12-13 and the championship rounds weeks are 14-16. The top two seeds in the regular season of each league earn an automatic bid into the Championship Round as does the League Champion.

The NFFC has an entry fee of $350 for its online championship. There is a maximum of 4,500 teams and the winner of the overall gets $200,000. The winner of the league after 13 weeks gets $1,500 with second place getting $700. Both offer three teams for the price of $1,000.

The FFPC Main Event is a live draft in Las Vegas from Thursday Sept. 10-Sept. 12. It can also be done online if you can't make it to Vegas. The entry fee for the live event is $2,025 and online is $1,900. The overall champion gets $500,000 and second place gets $100,000 and there is a maximum of 3,000 entries. After 11 weeks, the team with the best record and the team with the most points each get $2,000. Three league prizes are awarded from Weeks 12-13 with the league winner getting $4,000.

The NFFC has live drafts in Last Vegas and New York. The first weekend in Vegas is Sept. 4-5 and then Sept. 10-12. The New York drafts are Sept. 4-5. The NFFC Primetime is a 12-team league with a grand prize of $200,000. The entry fee is $1,710 with a maximum of 936 teams and teams can also draft online. The first place finisher in the league gets $7,000, second gets $3,200 and third wins $1,000. Those three teams qualify for the overall championships in Week 14-16. Teams get an average points total from their Weeks 1-13 scores and then each points total from Weeks 14-16 is added and the team with the most takes home the grand prize.

The NFFC Classic consists of 14 teams with a max entry of 336 teams. The grand prize is $50,000 and the league prizes are $8,000 to first, $3,400 to second and $1,700 to third. The entry fee is $1,710. There are several auction leagues and a silver bullet contest that is $1,000 for an entry and you can only enter one team. There is a max of 180 teams and the grand prize is $35,000. There are also a lot of other contests with higher entry fees.

These leagues are way different than your home league. There usually are a few weak players in those leagues and it's rare you'll find more than one ill-prepared player in a high stakes league. The competition is fierce and there are rarely any sleepers, especially the closer you get to the start of the season. Darren Waller went very late in drafts last season or went undrafted in some leagues. I had to take him in round 11 of a draft in Las Vegas last year. Chris Godwin moved up to the second round. If you really want a player and think he will last a round, it likely won't happen.

Make sure you are extremely prepared. Know the depth charts and coaching systems. Stay up to date on all the latest news. Don't panic if the three players you are eyeing all get taken right before you pick.  Always have a backup plan. Keep in mind there are no trades.

Take a look at the ADP on the site you are playing on. Use it as a guide. It will give you an idea of where players are going, but don't be afraid to push a player up if you believe in that player. There will be many players who get way pushed up the board so don't be surprised. This will cause some players to fall below their ADP and if you don't like that player, don't take them. Often times, people talk themselves into a player because they are well below ADP. Don't do it. As always, know the scoring system and format. There are big differences in the FFPC and NFFC.

There's always an adjustment period when you do something new, but the high stakes leagues are a challenge and fun. The live drafts are extremely fun and the camaraderie is great. If you play in multiple leagues and take fantasy football serious, give the high stakes leagues a try. There are different price points and someone has to take home the big prize. Why can't it be you?