Fantasy football is an interactive online football competition where you compete with other people from all areas of the world or with your friends and family members. With fantasy football, you act as team manager of a football team, where you will virtually draft, trade, add, or drop players and change rosters. The better your player does in real life during the game, the more points you get. How much does fantasy football cost? On average, a fantasy football team can be free or can cost up to $500 or more per team depending on what site you sign up with, the prize you want to win, as well as other various factors.