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Frequently Asked Questions
Account Related Questions
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Why do I have to enter in all my personal information? |
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We need most of your personal information (address, phone number, etc) because we have money that belongs to you. If you ever want to withdraw some of it, we need to know where to send it. Also, if there is a problem with your account, we need to know how to contact you.
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Is this legal? |
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Yes, just like every other Fantasy Sports website out there. Fantasy Sports are specifically excluded from the UIGEA of 2006. The relevant wording is "All winning outcomes reflect the relative knowledge and skill of the participants and are determined predominantly by accumulated statistical results of the performance of individuals (athletes in the case of sports events) in multiple real-world sporting or other events."
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Is my money safe? |
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Take a look at our pictures, and you can see what trustworthy faces we have. But, in an effort to go the extra mile for our customers, all credit cards transactions are handled by PayPal on their site, and they guarantee the security of your financial transactions. Once the money is in your account, we have detailed logs that track each and every dollar in play on the website.. so if there ever is a problem, we can make it right.
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What if I need my money? |
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As long as you have sold all your shares of stock, you can withdraw any or all your money at any point (subject to a $20 minimum withdraw). Just go to your account page and click on the withdraw link and it will take you through the steps. The only restriction we have is a $25 minimum for all check requests.
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Game Questions
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How are you different than other Fantasy Sports Stock markets out there? |
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Well, there are two varieties of markets that are out there today. Some are free to enter and then award prizes based on your portfolio value at some point in time. FantasySportsTrader differs from these sites by allowing each user to play for real money and by paying out prizes on each individual stock and not just for the top 3 users.
Some other sites offer real money shares of your favorite players, but they have no intrinsic value. The share�s value is determined solely by demand. You can never turn the shares in for money, so the only way you can make money is if more people come behind you and drive up the price of the stock. At FantasySportsTrader, the stocks have a definite value attached to them, because at the end of the season, the top players at their positions get prizes based on their performance. The stock�s final value has nothing to do with supply or demand, but everything to do with fantasy performance.
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Is there a transaction fee? |
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Yes. There is a 1% transaction fee for all trades paid by the seller.
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How do you determine the IPO price? |
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One of the managing partners of FantasySportsTrader is an actuary. For those of you who don�t know what that is, just think of somebody who does math for a living and is also incredibly good looking. So he has calculated what each player�s expected payout probabilities are and come up with a value for each of them.
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What if a player I like isn�t in the IPO? |
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You have two options. You can send us an email at IPO@fantasysportstrader.com to suggest a new IPO, or you can wait a week or two and see if your player starts to emerge. Each year, players come out of nowhere to finish in the top 20 at their position. In order to guarantee that all the prizes are paid out, we will do weekly IPOs of new players that have burst onto the scene. A schedule will be posted so that everybody has the same chance of getting in on a new IPO.
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Do I get to keep my stocks from one year to the next? |
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No. At the end of the year on prize payout day, we will replace all your stocks with the prizes that they win (even those that win a prize of 0), so that we can start fresh next year with another round of IPOs.
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What happens if the season is shortened by a strike? |
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After we are through mourning the loss of a partial season, we will get ready to award the prizes. Due to the nature of a strike, we can not pay out the prizes until the rest of the season has been officially cancelled. Once that is done, we will pay out all prizes based on player positioning for the partial year. No refunds will be rewarded for players who do not place in the prize money.
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What if a player gets hurt in week 1? |
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Injuries happen, and they are part of the game. If you have shares of a player that is injured in week 1, then you will likely lose money on those shares. But on the flip side, the chance of injuries is already factored into the IPO price. So if your player doesn�t get injured all year, then you are already ahead of the curve!
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How do you calculate fantasy stats? |
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We get our stat feeds from the XML Team. They are a highly regarded stat provider who provides us with box scores for each major league game. They are the final authority for our stats.
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When are the prizes paid out? |
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We wait for 4 days after the close of the regular season to make sure there are no scoring irregularities in the final few games of the season. Once that 4 day window is done, we will calculate the prizes and automatically deposit your winnings into your account.
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What happens if more people come in during the regular season? Won�t the demand outweigh supply? |
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Because we only sell so many shares of each IPO, the supply of each stock is limited. However, we monitor the current markets in order to make sure there is not an imbalance between demand and supply. We will offer more shares if demand clearly outweighs supply for a majority of the stocks.
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Is there any way you guys could do�? |
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We love suggestions and are always looking for ways to improve the game for the users. Please feel free to send us any suggestions you suggestions@fantasysportstrader.com.
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Trade Related Questions
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What is Current Market Value? |
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Current Market Value is an attempt to let you quickly see what you can expect to buy or sell a player at. CMV is either
1) The price that the stock last traded at
2) The highest buy offer if that offer is greater than 1)
3) The lowest sell offer if that offer is lower than 1).
So if Player A last traded for $1.40 and somebody is willing to buy him for $1.80, then $1.80 is the CMV. If on the other hand, nobody wants to buy him but somebody is willing to sell him for $1.09, then $1.09 is the CMV.
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Why are all the trade limit trades? |
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For those of you who don�t know, a limit trade has a specific price identified and attached to it. For example, if you wanted to buy 10 shares of Peyton Manning at $3.20, that is a limit trade. If you wanted to buy 10 shares of Peyton Manning at any price, that is a market trade. We don�t allow any market trades in order to protect our customers from any sort of trading schemes by other customers. You control the exact price you are willing to pay.
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How are trades executed? |
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We match trades based on the best offers from both sides. We cycle through all of the pending offers to get the highest buy offer and the lowest sell offer for each stock. If those two match up, we execute the trade.
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When are trades executed? |
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Currently, the trade execution process runs every 3 mintues. If a trade offer can�t be completed upon submission, the offer goes into a pending transactions table. It remains there until, either (1) a corresponding match is submitted, allowing the trade to be completed, or (2) the expiration date on the offer is passed. Once a trade offer expires, the trade offer is removed and will never be filled.
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Why do you fill partial orders? |
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Unless the game reaches millions of people, only filling complete orders would severely hamper the market. So in order to make the market more fluid, and increase the trading activity, we will complete as much of each order as possible. For example, if you submit an offer to buy 10 shares of a stock, and only 4 shares are available at an acceptable price, then you will awarded 4 shares at the availabe price, and the remaining offer to buy 6 shares will be posted to the pending transactions table until it can be successfully executed, or the offer expires.
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Can I short a player? |
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No. Because of the recent economic crisis, the President, as well as the Chief Financial Officer of the NYSE has forbidden us from allowing any sort of shorting or option trading. Well not really, but we didn�t want to open the game to all the various derivative instruments that would be possible, so we are keeping it simple.
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What if I have a problem with one of my transactions? |
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You can contact our customer support at customersupport@fantasysportstrader.com, or by using this form. Be as specific as possible with your issue, and they will track through the logs to find out what went wrong and help you resolve the issue.
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