The new sports betting application available in the UK market, allows the exchange of professional soccer players shares. The platform was developed by Kristian-Brauten Smith and Nicholas Smith, two former Goldman Sachs FX traders.
SportStack rates Premier League players according to their performance, and gives players the opportunity to sell and buy shares against other users. The platform that was developed in the last two years, was launched in the United Kingdom exclusively for soccer match markets. However, in the future the plans are to expand into other international markets.
The platform uses AI technology that gives players the opportunity to bet in real time, according to the player’s performance. With the elimination of binary bets, the firm considers that the amount of money that users win or lose, is based solely on the price of the shares of each player.
SportsStack founder and CEO Kristian-Brauten Smith believes that
“it is crazy that I can bet on almost anything in sports, except the most important feature of them: the players.”
He also believes that
“You shouldn’t have to play a fantasy sports game to predict who will perform well and who won’t, and that is why we created SportStack so that you can now do it with real money.”
For Smith, the SportStack concept differs from the Football Index, since this service offers a real exchange, since it has the ability to go long and short, allowing bets matched by other customers instead of having to bet against the house.
During the game, players gain and lose value with the SportStack Scoreboard, on a score of 0 – 100p ($ 1.29) per game based on predetermined metrics. There are about 15 attributes such as goals, tackles won, shots to the target, hitting the woodwork, etc. At the end of the match, the total amount won is paid according to the Score Table.
At the beginning of the week the Match Markets that remain open until the game ends.
“We firmly believe that when a bet does not go well, you should not lose all your money, that is a tired industry model,” said Smith.
He added that SportStack was developed
“taking into account responsible bets based on the price of the players’ shares, a model that we will first present in the United Kingdom before launching it to multiple sports and sectors in the near future.”