Someone had already talked about the draft-based variants, so I was considering the non-draft case, mostly because sports teams where I live don't have a draft

Someone had already talked about the draft-based variants, so I was considering the non-draft case, mostly because sports teams where I live don't have a draft system. I have read up on draft systems, and while I basically get the mechanics of how they work, I don't have a good feel for how getting (or missing) your pick at a particular stage of the draft plays out.