Are you ready for Virtual sports based stock market?

[fiulpro]

Yes you read the title correctly! Paddy power, the son of David power is all set to make this come true ! This is actually very different and innovative at the same time.

You will be able to buy and sell shares of a team and sell them on the platform. Even gamble with them!

They already are accepting beta players to download and test the whole thing out !

Expected performance will have a huge importance and it will mainly target US players!

They are already going to partner with the US teams and get all in into advertising.

They aren't looking for big investors but they have recently started a crowd funding campain!!

Do you think they will succeed or die like football index??

https://www.gamblinginsider.com/news/11861/son-of-paddy-power-founder-to-launch-virtual-sport-based-stock-market

[AmoreJaz]

they are not new in online betting business, so for sure he already done his own risk assessment for this new venture of his. but more then likely, this will be fiat-based first. nowadays, online betting is one of the industries that survive during this pandemic. so i guess, he will succeed on this business. for sure, he knows who to tap to gain interest from the gamblers out there

[romero121]

they are not new in online betting business, so for sure he already done his own risk assessment for this new venture of his. but more then likely, this will be fiat-based first. nowadays, online betting is one of the industries that survive during this pandemic. so i guess, he will succeed on this business. for sure, he knows who to tap to gain interest from the gamblers out there

The business is getting into the market at the right occasion. This will help with making the business more progressive than going downwards. Right now almost half the world is under lockdown and majority work from home. However buying a teams share can be an investment for long term and not a profiting source for short term.

[seleme]

To be honest, I am not familiar with this theme and will be glad to hear the opinions of other users:
1) Will the company offer CFD shared or regular stock shares?
2) Will they accept cryptocurrencies as a means of payment?
3) What about liquidity issues and manipulation?

[Saint-loup]

Yes you read the title correctly! Paddy power, the son of David power is all set to make this come true ! This is actually very different and innovative at the same time.

You will be able to buy and sell shares of a team and sell them on the platform. Even gamble with them!

They already are accepting beta players to download and test the whole thing out !

Expected performance will have a huge importance and it will mainly target US players!

They are already going to partner with the US teams and get all in into advertising.

They aren't looking for big investors but they have recently started a crowd funding campain!!

Do you think they will succeed or die like football index??

https://www.gamblinginsider.com/news/11861/son-of-paddy-power-founder-to-launch-virtual-sport-based-stock-market

I think it could be a very interesting and amazing new way of gambling. So yes I think it can succeed. As far as I know Football Index has failed because the UK and Jersey Gambling Commissions have suspended its operating licenses, then it doesn't mean this business model doesn't work, it's just a matter of regulation and local law compliance.

[2double0]

I didn't get the part 'gamble with those shares'.
Buying and selling of team's shares can be digested but what about gambling with them? Is it on 1:1 ratio or a leveraged gambling? PvP or against the site only? What will happen if a gambler loses his shares due to bet loss? Whom will the shares be transferred to?

[OgNasty]

I really like the idea behind this but it’s got a way to go I think before I would be interested in being a consumer.  The thought of picking a team and having it’s gambling performance act as a return on investment seems pretty amazing. I think there would be some difficulty involved with spreads and takes that might result in the long term value of all teams falling, but perhaps a market could prop up that profits from providing liquidity that could fuel teams’ return of value.

[Saint-loup]

I didn't get the part 'gamble with those shares'.
Buying and selling of team's shares can be digested but what about gambling with them? Is it on 1:1 ratio or a leveraged gambling? PvP or against the site only? What will happen if a gambler loses his shares due to bet loss? Whom will the shares be transferred to?

Where have you seen that users will be able to gamble their shares? They don't talk about that anywhere in the article, neither in their presentation video nor on their website https://asx.ai . I don't think it works like that, you have been mistaken IMO, otherwise feel free to share your (reliable) source with us. TYVM

[Hydrogen]

They aren't looking for big investors but they have recently started a crowd funding campain!!

Do you think they will succeed or die like football index??

https://www.gamblinginsider.com/news/11861/son-of-paddy-power-founder-to-launch-virtual-sport-based-stock-market

Interesting idea.

I think this would fall under the category of a derivatives market.

It would essentially be a lighter and softer version of sports gambling.

Instead of losing 100% on a losing bet. Speculators might lose only 20% of their bet on a bad call and not be wiped out.

Losses would be significantly smaller. But the percentage gain on a winning bet would also be significantly smaller. Assuming there was no leverage involved.

IMO for this to be successful, they would need to partner with sports leagues and offer sports memorabilia, collectibles, merchandising and other exclusive prizes.

Successful sports gamblers and fantasy sports players have no need for this & would profit more outside of a sports derivatives market.

For this to succeed they might need to offer consumers exclusive things like sports collectibles they couldn't find somewhere else.

Or they would market this to whatever demographic is interested in sports gambling but wants a safety net attached.

[Twentyonepaylots]

Quite an innovative and fun way to reintroduce the stock market in a way that will entice regular sports fans into joining and investing, however I just wanna know how can they induce profitability in that system besides of course the gambling part of the spectrum. What are the parameters that Powers will set to make sure that each stock invested has the power to rise up and down depending on the economical value of each team?

[Saint-loup]

They aren't looking for big investors but they have recently started a crowd funding campain!!

Do you think they will succeed or die like football index??

https://www.gamblinginsider.com/news/11861/son-of-paddy-power-founder-to-launch-virtual-sport-based-stock-market

Interesting idea.

I think this would fall under the category of a derivatives market.

It would essentially be a lighter and softer version of sports gambling.

Instead of losing 100% on a losing bet. Speculators might lose only 20% of their bet on a bad call and not be wiped out.

Losses would be significantly smaller. But the percentage gain on a winning bet would also be significantly smaller. Assuming there was no leverage involved.

[...]

No you don't get it, that's not safer or softer to trade than to gamble and you won't get wiped out while betting if you have a good money management of your bank roll. Usually people just invest smaller amounts in their bets than in their trades so even if they lose their bets, they don't lose all their funds, they only lose a fraction of them, just like in trading at the end.

[Obito]

How does it work though, I mean I know the stock market part but the virtual sports part is a little strange to me. I don't have my definite opinions on it but I am sure that we are going to see what's going to happen next in this thing. Also, will this be available for other players outside of US though and if not, will they be able to expand to global market?

[Wexnident]

Seems kinda interesting. So players would have a value attached to them based on their performances I assume? Why "Virtual" though? Price goes up and down depending on player performace and so, it's pretty much just like investing on them or something. As for gambling it, I'm assuming it's like a scenario where team vs team in a real match while players could gamble with their stocks as something like a pvp for the two of them (or more)? Basically, the money is replaced by the value of the stocks they hold?

Might keep myself updated, I want to know how this is going to be integrated in the long term.

[goaldigger]

Do you think they will succeed or die like football index??

It might work this time as long as they have a concrete system and the regulations are not that strict. Innovations are always welcome, but gaining the trust form the public market is quiet not easy, they must work on this very well. Investing on stocks and use some of it for gambling might complicate things but once the investors understand how this thing works, they might invest more. Let's see if they'll succeed or not, and Personally I'll wait for them to accept cryptocurrency.

[Mauser]

Yes you read the title correctly! Paddy power, the son of David power is all set to make this come true ! This is actually very different and innovative at the same time.

You will be able to buy and sell shares of a team and sell them on the platform. Even gamble with them!

They already are accepting beta players to download and test the whole thing out !

Expected performance will have a huge importance and it will mainly target US players!

They are already going to partner with the US teams and get all in into advertising.

They aren't looking for big investors but they have recently started a crowd funding campain!!

Do you think they will succeed or die like football index??

https://www.gamblinginsider.com/news/11861/son-of-paddy-power-founder-to-launch-virtual-sport-based-stock-market

This sounds interesting, I like fantasy leagues. But is this going to be with real money in USD or GBP, or just some artificial ingame currency? If this is based on real FIAT money that there could be a lot of problems, like how to make sure to minors are involved, and what about the proper licences to gamble in all major countries? If they secure enough money with their crowdfunding campaign it could already be a small hype. I would bet that many crowd funding investors are going to gamble on the new platform.

[DoublerHunter]

^ I am just hoping that their platform would be cryptocurrency-friendly. As long as they would accept the payment methods via cryptocurrency, that would be the best option they would do. Probably, this idea has been there since before but the only thing that changed here is that they will be able to offer stocks that can be used as chips and gamble it with other players. Nevertheless, that is a very brilliant idea indeed, I am just thinking about what would be regulatory with this or if this will pass the government’s quality checks to be given a license.

[goinmerry]

Do you think they will succeed or die like football index??

They are fully prepared so I think they will succeed in the long-run. Going all-in on advertisements will reach their target audience.

As long as they maintained good progress along the way, I think more people will soon be involved in that kind of money-making scheme.

Only time will tell. It will be a long and tough road.

[blockman]

First time to hear such as this in existence. But I think when you've said to gamble its shares, I get the idea of gambling your stock that you've bought with their players and teams. But this seems to be an experiment and hope that this will click the taste of most gamblers.
I'll wait until this has been filled with those plans that they've said in the article. Like partnering with those teams and players and broadcasters.
And yeah, just like the thought of others, looking forward to the positive result of their initiative because it's quite new to me.

[Fortify]

Yes you read the title correctly! Paddy power, the son of David power is all set to make this come true ! This is actually very different and innovative at the same time.

You will be able to buy and sell shares of a team and sell them on the platform. Even gamble with them!

They already are accepting beta players to download and test the whole thing out !

Expected performance will have a huge importance and it will mainly target US players!

They are already going to partner with the US teams and get all in into advertising.

They aren't looking for big investors but they have recently started a crowd funding campain!!

Do you think they will succeed or die like football index??

https://www.gamblinginsider.com/news/11861/son-of-paddy-power-founder-to-launch-virtual-sport-based-stock-market

This is basically a glorified slot or dice game, with lots of bells and whistles to give any players the illusion that they have some influence on future profits that they could make. We saw how "football index" was really just an elaborate ponzi scheme that collapsed at the slightest tremor. These sorts of games are actually dangerous, because they started throwing around stock market lingo like "shares" and "dividends" which is likely to give people a confused impression of it's legitimacy.

They are basically collecting cards but updated for the age of the internet and I don't know how anyone would get entertainment out of giving their money away for it. There are plenty of "fantasy league" type games that already have these elements but don't suck out your wallet. It's all based around algorithms designed to squeeze the most money for the house and give players the odd peanut back to keep them enticed. Personally I see more interesting news over at the LuckBox company - they are all about esports gaming and have plans to soon expand into bitcoin betting.

[harizen]

I found this interesting as a sports enthusiast for almost 2 decades. Reading the article looks like the company was more dedicated, maybe to avoid the failure of the first same model Football Index that collapsed earlier this year.

Honestly, no idea how this sports-based stock market will look like or how's the stuff here.

Looking forward to this and I appreciated if OP will update the thread for the company's every new step.