Fantasy takes hold as Paddy Power set to launch sports trading exchange.
Paddy Power, the son of the bookmaker’s founder, is set to launch a new fantasy sports betting company called American SportZ Exchange (ASX).
The start-up, which claims to be “the world’s first sports trading exchange”, allows users to buy or sell ‘shares’ based on how they believe a player or team will perform.
“It’s like a virtual stock market for players and teams,” Mr Power told the Irish Independent. “We’re basically allowing sports fans to speculate on player or team performance.”
He said that ASX is looking at several models, including a standalone exchange for fans and a ‘white label’ solution for major sports teams or media operators.
“There are opportunities for teams and clubs to own their fans’ engagement in this type of activity,” he said. “They’d like to keep [the fans] on their own site rather than see them going elsewhere to do all that online activity.”
This has the potential to provide sports teams the much sought-after opportunity to directly engage with fans without reliance on a third party (such as a social media platform).
Interestingly, ASX is powered by Acceleradar, which provides early-stage start-ups up to one year of free access to Sportradar‘s data and products.
While Sportradar was recently replaced by Genius Sports as NFL betting data distributor, both these data behemoths share a similar vision for the future of sports fandom and engagement.
If you want more content like this - direct to your inbox every week, sign up to our weekly newsletter here.