Talk Fantasy Football

The blurb says that the player can ignore the first penalty, from the wording of the foul rules "refs are there to catch and penalise fouls" it seems to me that you can keep foulding as much as you want until you get a players sent off, then you lose the handicap and carry on as normal.

So in theory you could foul say 5 times and then the ref sends one off, then you're back to the normal rules.

Is this how it's played?

You play it totally correct.