World's first sports market with dividends announces hard launch
Friday 30th July 2004
Following successful Beta testing, Allsportsmarket.com, the world’s first and only sports market with real cash dividends, has announced it will go live on August 9th. The company said that trade volume now stands at $4,810,133.30 with 1,176 beta testers online.
AllSportsMarket.com is a unique new concept, precisely modelled on Wall Street’s Naqsdaq, with elements of the ever-popular fantasy sports leagues, in which players can buy or sell virtual shares in a sports team or sporting event. Player demand on any given sports team or event drives the market and prices rise and fall over speculation on a team or event's performance.
'AllSportsMarket.com will provide the sports fan a safe environment to speculate on sports events without the risk of 'losing his shirt' in a win/lose proposition employed in a sportsbook,' said company president, Chris Rabalais. 'It is so realistic that you quickly forget you are not trading on Wall Street.' 'and', continued Rabalais, 'you can actually cash in anytime for real money, and a good team pick will pay dividends all season.'
The software development team has been hard at work expanding the capacity of the server farm and site capacity now stands at 50,000 registered users. They have also been developing a free streaming sports news site with up-to-the-minute scores, information and injury reports.
Company spokesperson, Harley Femino, spoke recently about AllSportsMarket.com 'This is a totally new concept. Anyone trying it now, from the sports fan and betting enthusiast, or even fantasy players, is saying that this is the most exciting thing to come along in a long time.”