|AllSportsMarket.com have opened all 130 US national NCAA football teams for trading. Launched on 9 August, the site is modelled on Wall Street’s NASDAQ, allowing visitors to trade on sports teams. While the launch was conducted using the first pre-season NFL match, all 32 teams are now used for trading, alongside the NCAA football teams.|
The site operates using the concept of virtual shares, with members buying and selling their shares in teams. The trading is done in real time, and cash payouts are made at the end of each match to the player who own the winning team by the end of each match. The site has employed real trading methods and tools, so prices rise and fall based on each team’s performance before, during and after each match.
The dividend system adds an element of risk for players, as they need to decide whether to sell teams given at high prices, or hold on to them until the end of a match for the cash payout. Alongside the trading activity, members can also communicate with each other, and share tips and opinions in the member forum. It is intended that as each major US sporting event begins, the site will add that to their offerings. Since the launch earlier this month, there are already 2. 359 active accounts. Operators expect this to steadily grow, particularly as there is no sign up fee and currently a $5 bonus is offered to new members.
Chris Rabalais, the president of AllSportsmarket describes the appeal of the site in the following explanation: 'AllSportsMarket.com provides the sports fan a safe environment to speculate on sports events without the risk of 'losing your shirt' in a win/lose proposition employed in a sportsbook. It is so realistic that you quickly forget you are not trading on Wall Street...you can actually cash in anytime for real money. A good team pick will pay dividends all season long.'
A recent member also added positive comments by saying: 'This is a completely new concept, combining several already existing, online elements... sports betting, fantasy league play and stock trading. Anyone trying it now... from the sports fan and betting enthusiast... or even fantasy players are all saying 'this is the most exciting thing to come along in a long time.'