A fantasy sport is a type of game, often played using the Internet, where participants assemble imaginary or virtual teams of real players of a professional sport. These teams compete based on the statistical performance of those players' in actual games. This performance is converted into points that are compiled and totaled according to a roster selected by each fantasy team's manager. These point systems can be simple enough to be manually calculated by a "league commissioner" who coordinates and manages the overall league, or points can be compiled and calculated using computers tracking actual results of the professional sport. In fantasy sports, team owners draft, trade and cut (drop) players, analogously to real sports.
A prediction, or forecast, is a statement about a future event. A prediction is often, but not always, based upon experience or knowledge. There is no universal agreement about the exact difference between the two terms; different authors and disciplines ascribe different connotations.
Prediction markets are exchange-traded markets created for the purpose of trading the outcome of events. The market prices can indicate what the crowd thinks the probability of the event is. A prediction market contract trades between 0 and 100%. It is a binary option that will expire at the price of 0 or 100%. Prediction markets can be thought of as belonging to the more general concept of crowdsourcing which is specially designed to aggregate information on particular topics of interest. The main purposes of prediction markets are eliciting aggregating beliefs over an unknown future outcome. Traders with different beliefs trade on contracts whose payoffs are related to the unknown future outcome and the market prices of the contracts are considered as the aggregated belief.
Fantasy baseball is a game in which people manage rosters of league baseball players, either online or in a physical location, using fictional fantasy baseball team names. The participants compete against one another using those players' real life statistics to score points.
Harry Shuler Dent, Jr. is an American financial newsletter writer. His 2009 book, The Great Depression Ahead, appeared on the New York Times Bestseller List.
The Wisdom of Crowds: Why the Many Are Smarter Than the Few and How Collective Wisdom Shapes Business, Economies, Societies and Nations, published in 2004, is a book written by James Surowiecki about the aggregation of information in groups, resulting in decisions that, he argues, are often better than could have been made by any single member of the group. The book presents numerous case studies and anecdotes to illustrate its argument, and touches on several fields, primarily economics and psychology.
Minted is an online marketplace of independent artists and designers. The company crowdsources art and graphic design through monthly design challenges. The public votes for the winning entries, and Minted produces the winning work as stationery, wall art, and decor.
A fantasy sports stock simulation is a type of fantasy sports game. It differs from standard fantasy sports games, which involve drafting teams and competing against other teams in a league in certain statistical categories. In a fantasy sports stock simulation, players and teams are "stocks" in a stock market which can be bought and sold, and which acquire earnings based on their statistics. While standard fantasy sports games typically require drafting a team at the beginning of a season to participate, fantasy players can join and participate in a fantasy sports stock market at any time during the season.
Prediction markets company NewsFutures (2000-2010) has evolved into Lumenogic, "a consulting firm that specializes in developing and customizing online systems for large organizations to use to gather so-called Collective Intelligence from their employees."
CBSSports.com is an American sports news website operated by the CBS Interactive division of CBS Entertainment Group, itself a division of ViacomCBS. It is the website for CBS's CBS Sports division, featuring news, video, and fantasy sports games.
A prediction game is a game which allow users to guess at the outcome of future events. Prediction games are generally operated online and are free for users to play. Points are awarded to players who most accurately predict the outcome of an event, and those points are converted into cash prizes.
Intrade.com was a web-based trading exchange whose members "traded" contracts between each other on the probabilities of various events occurring. After having been forced to exclude US traders in 2012, on 10 March 2013 Intrade suspended all trading, citing possible "financial irregularities". For a time after the suspension, the intrade.com website stated that they were working on a relaunch of the site, called "Intrade 2.0", but as of August 2014 it states that "It appears very unlikely now that Intrade will resume trading services in the way it had operated previously", and has announced plans to close all accounts and refund monies by 31 December 2014.
RotoHog is the consumer facing Fantasy Sports website for Fastpoint Games, a digital platform developer that designs, implements and markets fantasy services for media and advertising partners. The company builds, delivers and manages co-branded fantasy sports games for major media companies, sports companies and professional sports leagues.
Sport industry is a market in which people, activities, business, and organizations are involved in producing, facilitating, promoting, or organizing any activity, experience, or business enterprise focused on sports. It is the market in which the businesses or products offered to its buyers are sports related and may be goods, services, people, places, or ideas.
Daily fantasy sports (DFS) are a subset of fantasy sport games. As with traditional fantasy sports games, players compete against others by building a team of professional athletes from a particular league or competition while remaining under a salary cap, and earn points based on the actual statistical performance of the players in real-world competitions. Daily fantasy sports are an accelerated variant of traditional fantasy sports that are conducted over short-term periods, such as a week or single day of competition, as opposed to those that are played across an entire season. Daily fantasy sports are typically structured in the form of paid competitions typically referred to as a "contest"; winners receive a share of a pre-determined pot funded by their entry fees. A portion of entry fee payments go to the provider as rake revenue.
FanDuel Group is a New York City based bookmaker and daily fantasy sports provider. Originally founded in 2009, the service is the second largest DFS service in the country, behind DraftKings, based on entry fees and user base. In November 2016, FanDuel and DraftKings reached an agreement to merge.
Skillz is an online mobile multiplayer competition platform that is integrated into a number of iOS and Android games. Players use it to compete in competitions against other players across the world.
Augur is a decentralized prediction market platform built on the Ethereum blockchain and the first decentralized application running on Ethereum to make headlines. Augur is developed by Forecast Foundation, which was founded in 2014 by Jack Peterson and Joey Krug. Forecast Foundation is advised by Ron Bernstein, founder of now-defunct company Intrade, and Ethereum founder Vitalik Buterin.
Cadre is a New York-based financial technology company that provides individuals and institutions direct access to large commercial real-estate properties. The business and financial press describe it as a service that "makes the real estate market more like the stock market" by allowing investors to select the individual transactions in which they participate, while investing a smaller amount than would be required to fully fund a transaction. For example, 12 institutional investors participated in a $60 million office building purchase. The firm has more than $1 billion under management, and was named to Forbes' "FinTech50" starting in 2016. In 2019, Cadre was the cover story of the Forbes "FinTech 50" issue. In 2018, a partnership with Goldman Sachs was announced through which Goldman Sachs' private wealth clients committed at least $250 million (USD) real estate investments through Cadre. The company also offers a managed portfolio service and a real estate secondary market.
Dream11 is a fantasy sports platform based in India that allows users to play fantasy cricket, hockey, football, kabaddi and basketball. In April 2019, Dream11 became the first Indian gaming company to enter the ‘Unicorn Club’.
