AllSportsMarket

Trade sports like stocks

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Paul Bleier
Paul BleierHunter@paulbleier · Partner, TELUS Transformation Office
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.
Troy Ruediger
Troy Ruediger@troy_ruediger · Helping shape the future of sports!
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!
Paul Bleier
Paul BleierHunter@paulbleier · Partner, TELUS Transformation Office
@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.
Jerry Chen
Jerry Chen@jaalin · Chief of Wine Hustle, Vinodine
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.
Jason Henry
Jason HenryMaker@jasohenr22 · ASM - Director of Media Relations
@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.
Eddie DaRoza
Eddie DaRoza@eddiedaroza · Video Producer - Social Media Marketing
The fact that this is operated under a non-profit shows what a scan that entire designation has become
Jason Henry
Jason HenryMaker@jasohenr22 · ASM - Director of Media Relations
@eddiedaroza Eddie - we are very passionate about financial literacy. Finance is intimidating subject for most, and we are determined to change that. We believe that the only way to do this is use the right 'hook'. Something people love. We think sports is the best candidate for that job. We truly believe that this is our best shot to significantly advance financial literacy and make a difference in people's lives. Developing an entire finance curriculum based on sports will take time. But we are on it. Stay tuned.
Neil Sandhu
Neil Sandhu@neilsandhu · Founder, Block Labs
Agree with others. How is this ending sports gambling? Because it is made to have concepts like a stock market? Except, unlike the stock market, sports gambling (even DFS) is a zero-sum game. Personally, I'm okay with legalizing sports gambling, but call it what it is. Unless I'm missing something.
Jason Henry
Jason HenryMaker@jasohenr22 · ASM - Director of Media Relations
@neilsandhu Neil - we cannot go against human nature. We can not end the desire to speculate. We cannot end gambling by shouting from the rooftops that it's evil. We have to be realistic. We have to offer an alternative. We have to find a way to appeal to the natural human desires without replicating the harms. Some luck and a lot of hard work, we truly believe we have done just that with ASM. With ASM, you still have your second screen experience. You can still speculate your money on sports outcomes. You can still argue sports with your buddies until the sun rises. You get all of this, but beyond that you get Nasdaq for Sports. You get purpose. Leagues getting their cut from each transaction. Government taxing it all. A new economy coming to life. People learning finance because they love sports, so they don't become victims to crooks and liars. It is an ultimate win-win for everyone involved. As for your zero-sum comment... This zero-sum thing generates heated debates, so we should agree on what we mean by zero-sum. If we are talking about purely cash flows, yes, the stock market is generally viewed as positive-sum, and sports betting and DFS are zero-sum. But that's not the right yardstick. The relevant benchmark is whether markets create value regardless of whether they are zero-sum or not with respect to cash flows. Derivatives markets and some prediction markets come to mind. The value creation, or purpose, is precisely what distinguishes us from sports gambling. We reject the notion that sports + money always equals gambling. It is understandable why most people think that way because that's the only form that has ever existed. The society simply stopped questioning that assertion and assumed it is true. That doesn't make it so and we set out to prove that sports and money can mix in socially beneficial ways.
Neil Sandhu
Neil Sandhu@neilsandhu · Founder, Block Labs
@jasohenr22 Thanks for the well-thought out reply. I actually agree with you on much of what you're saying. I think we sometimes get caught up in labels and if it is related to more traditional finance (e.g., options and other derivates) we don't label it gambling but it shares many of the same characteristics. I actually like the concept and am excited to see where you go with this! My main critique was some of the labeling (i.e., your site is intended to end sports gambling) drawing a distinction between a service such as yours and "gambling." Not that speculation/gambling is always bad. Good luck!