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LABR was the first high-profile fantasy sports experts league of its kind. Formed by John Hunt, the fantasy baseball columnist for USA Today Baseball Weekly, the league was first formed in 1994 and featured such celebrities as Peter Gammons, Keith Olbermann and Bill James. LABR stands for "League of Alternative Baseball Reality" and was given that nickname and the pronunciation ("labor") by Olbermann as a play on words with the labor strife in baseball at that time. Hunt ran the league and published the results of the LABR league in the Baseball Weekly's (now USA Today Sports Weekly) fantasy baseball preview issue each March from 1994 through 2006. He opted not to return for the 2007 league and was replaced with in-house staff. The dollar values players were sold for in the fantasy league are used as a benchmark for readers in their own fantasy drafts.

The LABR has lost its early status as the premier experts' league, as in 1997 a rival fantasy baseball experts league, Tout Wars, was created by Ron Shandler, who was fed up with the lack of promotion USA Today gave the LABR league.

The 2016 LABR Mixed league, AL-Only league and NL-Only league are online and can be viewed by the general public.