One of these days, I am going to have an awesome Bull Durham-style rant regarding what I believe in when it comes to fantasy baseball. I believe auctions are better than drafts. I believe there should be a constitutional amendment banning eight-team leagues and leagues that only use three outfielders. And I believe FAAB is a lot more fun than waivers.

I prefer a Free Agent Acquisition Budget, or FAAB, to waivers because it is more nuanced (you are given a budget of either $100 or $1,000, in most cases, to spend on players throughout the year however you would like). For the most part, if you want a player who is on waivers you just make a claim on that player. You may hold off if you want to save your place in the waiver pecking order, but really waivers are pretty easy.

Many sites default to waivers because it is easiest for casual fans and first-timers to pick up on. While FAAB may be more complicated, it also represents an opportunity for savvy fantasy players to find an advantage. There are five questions I ask myself when I consider a FAAB bid, and the answers to these questions can help you get the right players at the right price to come out on top in fantasy.

  1. How often do new players become available?

This is crucial because of the opportunity cost associated with every bid. Any FAAB money you spend today is money you cannot spend later. If you are in a league-specific format where players are likely to become available when they are traded to or signed by a team in your league, it may be worth it to wait. Similarly, if you cannot bid on a player until he has made his MLB debut you may want to save some money for later. If you are only bidding on players who get a new role, are on a hot streak, or are dropped by one of your league mates, there is less incentive to save money for a later date.
 

  1. How much time is left in the season?

Fantasy players have a tendency to hoard their FAAB money in the hopes a better player will become available, and as I mentioned above, that strategy is smart in some situations. Much of the time, however, that can be a mistake. First of all, there is no guarantee a better player will actually come around. More importantly, even if a better player does come along, and you are able to outbid the competition for his services, it may be too late. It is often better to get an above-average player in April than a very good player in July or August.
 

  1. How badly do you want the player?

Overpaying for a player feels awful, but missing out on somebody you really wanted because you were afraid to go a few extra dollars hurts even more. If you have a need, or you really believe in a player, be aggressive. I once spent my entire FAAB on Rusney Castillo, and felt pretty stupid when nobody else bid on him. I felt much better about it when I traded Castillo and Ryan Zimmerman for Freddie Freeman two months later. In the end, you probably won’t remember you overpaid, but you will be happy you got the guy you wanted.
 

  1. Does your league allow $0 bids?

You can be far more aggressive if your league allows $0 bids. Sure, you probably won’t be able to add many quality players with $0 bids unless you are really savvy and a bit lucky, but that is a small price to pay to get a player you really want. If there is a minimum bid, an easy rule of thumb is to leave yourself enough money to make one minimum bid per week for the rest of the season. Keep in mind these bids are meant for really good players. Don’t blow your entire budget speculating on closers, no matter how desperate you are for saves.
 

  1. What have similar players gone for in the past?

Finally, do some homework. If you can, look at the past few seasons to see previous bids. What have closers gone for in the past? Does one league member always bid $20? Knowing these things can help you find that sweet spot between getting the players you want and not spending more than you have to.