What is Sportnext?
Sportnext offers a skill-based alternative to sports betting by introducing capital markets to sport. Sportnext are building a global ecosystem that offers unprecedented opportunities for sport fans to monetise their skill and knowledge in sport, increasing engagement levels between teams and fans while eventually enabling sport teams to generate revenue for their grassroot programs and communities.
Why use Sportnext?
Sportnext is the world’s first global, 24/7 live and interactive platform with in-game trading and no lockouts that also allows for sport fans from around the world to compete against each other across multiple sports in a skill-based environment. Sportnext differs greatly from one-dimensional offerings in the market such as head to head betting or sports tipping by offering an engaging, multi-dimensional global platform that resembles a stock market.
What can I do on Sportnext?
Sport fans from around the world come together on Sportnext and take on the role of a sport trader, using their skill to buy and sell virtual shares in teams within a seasonal, monthly or weekly timeframe. During this time, traders aim to buy low, sell high, earn dividends and finish high on the leaderboard to compete against the world’s very best. In the process, Sportnext traders can engage with teams on a whole new level by monitoring off-field events such as new player signings, player injuries, commercial outcomes, and actively following on-field results to receive dividends from their virtual shares held.
How many sports will I be able to trade on?
Sportnext are currently in public beta phase until the 27th January 2018 and are the Major Partner of Baseball Australia and the Australian Baseball League. At the end of this public beta phase, Sportnext will roll out all major global team sports on the platform to enhance and further centralise the fantasy sport experience for the global Sportnext trader community.
Is Sportnext a form of gambling or sports betting?
We strongly discourage chance-based offerings such as sports betting. We are actively working towards a world where sport fans can sustainably monetise their sport knowledge, resulting in impactful benefits to sport teams and grassroot communities, and our current and future product offering will be reflective of this. Currently, Sportnext aren’t subject to any licensing or regulatory requirements in many jurisdictions around the world; we will however comply in countries where Sportnext requires a license. We are receptive to collaborating with governments the world over to pen new or comply with exisiting legislation around our current and future offerings, in a sector that we are pioneering and have defined as ‘FinSport’.
How are team starting prices calculated on Sportnext?
Every team listed on Sportnext starts at a price which is fairly determined based on our initial pricing process. Every team’s initial value is calculated based on a combination of past, present and future factors such as pre-season activity, on and off-field developments, previous season performance and a future prediction index.
How do prices move up and down?
Once a team becomes available to trade on Sportnext, traders can buy and sell virtual shares in these teams at any given time. Our market algorithm and formulas have been developed to allow for prices to rise and fall based on popularity and momentum as determined by our users. For example, the more traders buy shares in Team A, the more the share price of Team A rises. If traders start selling shares in Team B or not buying shares in Team B, the share price of team B falls. Traders generally aim to buy low, sell high and earn dividends in the process.
How do I grow my Sportfolio value?
Sportnext traders each receive 100,000 Sportcoins at the start of a contest; with the aim of growing this to the highest amount possible by the end of the contest. Sportnext traders vary in profile and can either be active, semi-active or passive in nature. Some traders can be risk-averse and only buy shares in the best performing ‘bluechip’ teams to generate a small dividend, some traders are comfortable with taking higher risks by buying shares in the worst performing ‘small cap’ teams with the aim of receiving much higher returns, and some traders enjoy a balanced approach between high-risk and low-risk.
We will continue adding any Frequently Asked Questions in this section over the coming weeks.