Replacement value is an important consideration when judging the fantasy worth of a player, or a position, for that matter.
For example, let’s take running backs. In a 12-team league, with two starting running back and wide receiver positions plus a Flex, we expect roughly 30 RBs to be fantasy starters — two per each of 12 teams, plus half of Flex spots.
Last season, Christian McCaffrey was the top RB, scoring 416.6 fantasy points in PPR formats.
If 30 other RBs are starters, our presumed first replacement level (bench player or waiver option) would be the 31st-best RB; that was Kareem Hunt, who scored 145.4.
