No, participating in the PlayerTrader Market is not considered sports gambling, but rather as a game of skill, for three distinct reasons:
1. Traditional sports betting is you versus the house; with PlayerTrader, users are playing against the Market as a whole. PlayerTrader Market is a user to user market.
2. Traditional sports bets are for a one-time event; on the PlayerTrader Market, player stock prices are determined by multiple events over an extended period of time and the rules of supply and demand.
3. Traditional sports betting have no extra incentives to perform, other than the predetermined payout; every week on the PlayerTrader Market, the highest performing user from each region receives a bonus stock package for winning the weekly competition.
"Trading" refers to the buying and selling of fractions of a player's Digital Asset on the PlayerTrader Market.
You are trading with other users using the PlayerTrader Market, which means you need a buyer or seller to execute your desired trade -- you can trade anytime, as long as each trade has a buyer & seller.
Users make money by selling their fractions at a higher value than at the price they bought. Users may withdraw at any time they want.
PlayerTrader Market mimics a traditional stock market where there are independent people buying and selling. Other common functions of trading like options, futures, and shorts will be available in the future.
The player price will change based upon how much the player outperforms or underperforms their statistical average, their "Performance Multiplier." We use career statistics to set the initial price for each player. In addition to any change influenced by the player's Performance Multiplier. When fractions of a player are bought or sold, the price will change to reflect the changing supply and demand economics of the player.
Currently, users can trade NBA players. Soon, NFL, NHL, and MLB will become available on the PlayerTrader Market, so keep an eye out!
When you refer a friend to the PlayerTrader Market, you and your friend will receive a free fraction both users have deposited funds.
To make a deposit, login and select the ‘Deposit’ button below your account balance. Choose a deposit method (we accept Credit and Debit Cards) and enter the amount you'd like to deposit. The minimum deposit is $10 with a maximum of total deposits of $1,000 per day, $5,000 per week, and $10,000 per month.
The user’s money will be processed by Square and held by PlayerTrader, Inc. in a secure account backed by First Citizens Bank and Trust. The user’s account balance will be shown in their PlayerTrader wallet.
PlayerTrader ensures that all funds are segregated. Please be assured that all user's funds are safe, secure, and accounted for and that you will have access to your money on the PlayerTrader Market at all times.
Any account that initiates a chargeback through their financial institution for any reason will be closed and any remaining balance will be forfeited, regardless of the circumstances. If you have a payment dispute issue, please contact email@example.com.
Updated June 27th, 2021.