Looking at All Sports Market, the next step in fantasy gaming.
DobberHockey prides itself on being at the forefront of innovations in the fantasy sports world. DobberHockey has developed and innovated many valuable tools as well as having partnered with others to help give you a leg up in your fantasy leagues. It is with that in mind that I bring up All Sports Market. Have you heard of it?
It appears to be the next generation of fantasy sports/sports betting games. It operates as a kind of virtual stock market where you buy shares in a particular team and then watch the value of those shares change as the performance of that team (in real life) goes up or down, as well as the public perception of that team goes up or down.
We spoke with NHL hockey legend Bernie Nicholls and one of his partners Jason Henry. (DH is DobberHockey, JHBN is Jason Henry/Bernie Nicholls)
DH: You have stocks for all professional teams, what kind of presence does hockey have versus the other sports? Same representation as in the real world, or with Bernie involved is it a bigger chunk?
JHBN: We currently run NFL, NHL and NBA and get fairly equal trading on NHL and NBA with the NFL a little behind due to the fact they play only 1 game a week. I don't think the representation resembles the 'real world' right now but I do see AllSportsMarket taking that shape over the next 365 days.
DH: So I'm Johnny Hockeyfan - if I want to buy shares of the Maple Leafs, what are the steps? How much of my money can I put in, in terms of minimum/maximum? So Phil Kessel breaks his leg - do I dump my shares? That is to say - is the fate of the stock tied in with the on-ice success of the franchise, or the off-ice (i.e. financial/attendance/etc) success of the franchise? And I can sign up and do all transactions on my phone?
JHBN: When you open an account on the AllSportsMarket you receive $2500 ASM Dollars to begin trading with. You can put all of that into one team or spread it over several teams throughout the leagues we currently offer.
An injury as significant as Kessel breaking his leg wouldn't create the need to immediately dump the shares, but you may want to consider moving a percentage of the shares you own. There are many strategies that can be used in a real market such as AllSportsMarket, and when someone sees the need to sell out, others will see the right time to buy in. The overall price of the stock is driven by the performance of the teams (wins and losses), public perceptions in the team (are they contending or pretending or are they building for the future) and the value of the dividend reserve (which is fed through a percentage of each buy/sell being added to the reserve of the team who's shares were traded).
DH: I notice you pay dividends out - how does that work, exactly?
JHBN: On a win, the winning team takes 15% of the losing teams 'dividend reserve' and adds it to their existing dividend reserve. (Team A beats Team B and takes 15% from Team B's reserve and places it into Team A's reserve) Then, the winning team pays out 10% of their dividend reserve and pays it out to the share holders. So if there were 100 shares and the payout was 10% of $1000 then each share would received $1.00 for the win. This takes the words 'gambling' and 'betting' out of the equation, as the share doesn't expire after a win or a loss. It lives on, thus making it an investment and not a bet. it really is the best of both worlds for the sports fan who loves to follow their team(s) with their wallet.
DH: There are laws in certain provinces and stats that prevent daily fantasy sites, gambling sites and in some cases fantasy sites from getting participation from residents there. Any such restrictions with your app? What about by country? I have readers from all around the world.
JHBN: No known legal restrictions as the App operates under Apple’s legal regime.
DH: Do you have ad spots available in your app (for, say, my own app)? What about a Twitter account?
JHBN: We made a promise to ourselves and the traders that we would never advertise on the App. We do however have a Twitter account, as well as Bernie's account for promoting on.
Full Disclosure: This is not a product that I have tried. I’m still dabbling with the business of daily fantasy leagues. But I’d be remiss if I didn’t bring this product to your attention. It is where fantasy sports/gaming seems to be headed especially with the growth of fantasy sports as well as the bigger push for sports betting to be legalized.
As with any gambling endeavor, the house always wins. The odds are setup so that the service provider comes out ahead regardless of what happens in the sports market. All Sports Market is no different. But it also looks like a fun new way to immerse yourself in sports. It’s an opportunity to become a real (well virtual) stakeholder in your favourite team.
The iPhone version (click here) is out. The Android version will be ready in 2015. You can request notification upon release (click here). Use the referral code BERNIE and you get entered into a draw for an NHL team jersey of your choise - signed by Bernie Nicholls.
If you do play or are interested in playing All Sports Market, is this something you’d like to see us providing content for?
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