I still don't see how this is different than fantasy sports? They are going to stop sports betting by... calling it "sports trading instruments"? Their incredibly... lofty... mission statement on the about page is a bit overwhelming.
@jaalin
Jerry - we understand we are a bit unusual. Our main objective is to end sports gambling. At the same time we are pushing for a "sports stock market." Sounds like we are hypocrites, right?
Our ask is simple. Don't assume that whenever sports and money is mixed, it must be gambling. Tell us instead why you think sports gambling is bad and give us an opportunity to explain why we don't fit the mold.
Fantasy sports is gambling. It is a pure entertainment vehicle that does not serve any purpose. To be fair, season-long fantasy is relatively harmless. Stakes are low and it's mostly a social experience. Daily fantasy, on the other hand, is neither low-stakes, nor social. It has the potential to destroy lives.
ASM is more like Nasdaq...for sports. Imagine Yankees are "going public." Sports ticker on Times Square. "Fast Money" becomes "Fast Sports Money". Seeking Alpha turns to "Seeking Sports Alpha." Endless discussions around which teams are underpriced. That's our vision.
Entertaining? For sure. But we are not just a pretty face. We deliver the same things that the stock market delivers: capital formation, price discovery and portfolio management. To be clear, investors are not getting an ownership stake in sports teams. Yet these benefits can still be delivered in a stock-market like environment. By making sports an asset class, we deliver purpose.
Happy to elaborate more.
Paul, awesome product! I would love to discuss in more depth, the community would love to check it out as well. Let me know if you would like an invite to this sports tech community I run. It's called sporttechiehq, check it out here: www.sporttechiehq.com. Just shoot me an email : Troy at sporttechiehq dot com. Looking forward to connecting. Congrats on the launch!
@troy_ruediger Thanks for the note and feedback. Would love to learn more about the sport tech community. Upon first glance, I see a lot of synergies with ASM's product and NSEI's overall mission and goals. I've sent an email to the address above to take our discussion offline. With the recent launch, there is no doubt in my mind that ASM's founders and global ambassadors wouldn't want to get involved too.
Hey makers and hunters! Super excited to share with you the world's first sports stock market. The makers just re-launched their real money market in the US with IPOs of Major League Baseball, but also have a free version available for potential investors to practice and learn about the product on other leagues like NBA, NHL, NFL and NCAA Basketball.
AllSportsMarket is a 24-hour global exchange where you buy and sell shares of your favorite sports teams. Like any traditional stock exchange you earn money by buying low and selling high, shorting high and covering low or earning dividends when your teams win. It appears that shorting will be available at a later time once there are more traders and the market is more mature.
Real money trading is currently only available through its website, but there is an iOS app for its free version. On both platforms, there are also really helpful community forums to ask questions and meet other traders.
What makes ASM so unique is that it is operated by the New Sports Economy Institute, a 501(c)(3) educational Non-Profit with the mission to end sports gambling and bring financial literacy to the masses via sports trading instruments. They are working toward this mission through three core programs called SportsFolio, SportsVote and SportsCore. You can learn more about each of these initiatives on their About Us page.
From their recent press releases, these guys mean business and appear be going after the offshore sports betting establishments and the daily fantasy sports industry which is in a world of hurt right now.
There is a great write up and podcast on the whole concept with the founders on Fansided - http://buff.ly/1TbIAxh
Been a big fan and supporter of ASM for quite some time but would love to hear what you think after checking it out.
AllSportsMarket
Slackstarters