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Fantasy Football 101 Series: Basic Strategies; League & Draft Formats; Scoring; The Draft; Setting Your Lineup; Trades; How to Pick Up Players
In Fantasy Football, players can be added to your team in a few different ways. You can trade for them, or scout the waiver wire and pick up a free agent or a player that has cleared waivers.
Free Agents
A free agent is a player that has never been drafted or has been off a team for a considerable amount of time. Usually free agents can be picked up immediately and added to your fantasy roster.
Waiver-Wire Players
A “waiver-wire” player or player on "waivers" is a player that was formally on a team in our league and for whatever reason was released. That released player goes through a 2-day claiming period where every team in the league will have a right to claim him. There is a waiver order based on team record that determines which team is awarded the player. Each week, teams are ranked according to record (in order of worst record to best record) and whether they have claimed a player or players off waivers already. This allows the teams in need of the most help to have an opportunity to pick up a player that could make them better and creates balance and better competition in the league.
Injured Reserve
The IR spot is for a player that is unable to play for a period of time due to injury, but you do not want to release them, as they could be one of your best players who will return to action soon. Injured Reserve frees up a roster spot by allowing you to pick up a temporary "free agent" or "waiver-wire” player until your injured player is healthy enough to play again. Not all leagues have a roster spot specifically for the IR as it some-what time consuming to monitor.
Below is an example of where you would have to go in a Yahoo fantasy football league in order to search for players on waivers or free agents.

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