• Loading stock data...
Saturday, December 7, 2024
Tune in on Dec. 11 at 1:05 p.m. ET for our last Future of Sports virtual summit of the year – Future of Sports: Marketing! Register Now

Jock MKT Focuses On Daily Fantasy Sports In-Game Market Opportunity

  • Jock MKT soft launched with the PGA in June, allowing users to buy ‘shares’ in players and sell as the tournament went on.
  • Early investors in the daily fantasy platform includes former NFL player Isaiah Kacyvenski and Ryan Moore, one of the first investors in DraftKings.
Deshaun watson
Troy Taormina-USA TODAY Sports

A new daily fantasy sports platform is launching on iOS Sept. 10, turning the daily lineup games into a stock market exchange. 

Jock MKT allows users to buy and sell virtual “shares” of athletes in real time during games and tournaments. The platform launched earlier this summer and is available in 34 states. 

The exchange-model betting is popular in Europe but not yet allowed at a national level in the U.S. for sports betting, said Tyler Carlin, co-founder of Jock MKT. For now, the exchange model will be practiced in the daily fantasy sports realm, Carlin said. 

“People are more attached to players anyway, it’s good to have a rooted interest in players,” Carlin said. “In Europe, 80% of sports betting is in-game markets, which is underserved in the U.S. So the interest is pretty big and gaining more with legislation and the bigger players in Europe and the U.S. devoting time to it.”

Jock MKT recently closed its first round of fundraising. Among the platform’s early investors include DraftKings’ first investor, Ryan Moore, poker professional Brandon Adams and former NFL player Isaiah Kacyvenski, who leads Will Ventures.

“There’s been surprisingly little innovation in the daily fantasy sports space over the last eight years,” Kacyvenski said in a release. “As a former player, I see how much data has improved over that time, and how networks are incorporating more of that information into their live broadcasts.” 

“There’s huge potential to translate this growing national appetite for real-time info into a more engaging, and unique in-game fantasy offering,” he added.

Jock MKT offers two playing formats currently: market and contest. In the market format, users buy and sell shares of athletes in real-time and can cash out early by selling those shares to another user or receive fixed payouts based on final rankings. The PGA, NBA and NFL are currently available.

For example, a user could buy into Houston Texans quarterback Deshaun Watson before a game for $10 and potentially sell that share for $20 in the third quarter, coming out $10 ahead.

Golfer Charley Hoffman celebrates.

New Tier of Daily Fantasy Sports Operators Ready To Challenge

As FanDuel and DraftKings largely shift their focus from daily fantasy games…
August 27, 2020

Contest allows all users to pay the same entry fee to receive a specified number of chips which can then be bid for shares of players in an IPO period. Users can then buy and sell shares to improve their position, with cash prizes awarded to those with the highest final chip count.

Jock MKT had planned to launch around The Master’s in April, but the COVID-19 pandemic shifted the strategy. Instead, the platform launched with the free-to-play format when the PGA resumed in June. 

“Given it’s weekly nature, a four-day tournament works well for trading,” Carlin said. “It’s a great second screen engagement.”

In July, the paid contests were rolled out. The first contest in June had about 100 friends and family and the sign ups are now around 1,000 people, Carlin said, adding it’s all been through word-of-mouth. 

For now, daily fantasy will have to suffice for the platform, but Carlin said regulations could change and provide some long-term potential for Jock MKT.

“We’re starting with player based, but down the road it would be awesome for March Madness,” Carlin said. “Trading on teams that continue on in the tournament — that would be the type of opportunities we’re excited about.”

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

LA Galaxy forward Dejan Joveljic (9) celebrates with midfielder Riqui Puig (10) after scoring a goal against Seattle Sounders FC in the second half in the 2024 MLS Cup Western Conference Final match at Dignity Health Sports Park

With or Without Messi, Major League Soccer Is Barreling Into the Future

After the Cup final, the league looks to accelerate its growth.

Poker Pro Pleads Guilty to ‘Massive’ Sports Betting Tips Fraud

Cory Zeidman ran a scheme that amassed $25 million over 14 years.
Nov 2, 2024; Dallas, Texas, USA; Southern Methodist Mustangs head coach Rhett Lashlee leads SMU on to the field before the game between the Southern Methodist Mustangs and the Pittsburgh Panthers at Gerald J. Ford Stadium.

Every Power 4 Championship Game Will Have a Conference Newcomer

Oregon, SMU, Texas, and Arizona State will all play for titles.

Featured Today

Dec 18, 2022; Lusail, Qatar; FIFA president Gianni Infantino claps during the awards ceremony after the 2022 World Cup final between Argentina and France at Lusail Stadium.

FIFA Wants More Matches. Resistance Is Growing Inside the Global Soccer World

Resentment and frustration over expanded schedules is nearing a breaking point.
November 30, 2024

U.S. Investors Are Gunning for England’s Small Soccer Clubs

Is another Hollywood-like success story possible among the U.K.’s smallest clubs?
Nov 1, 2024; Boise, Idaho, USA; Boise State Broncos running back Ashton Jeanty (2) leads the team onto the field prior to the first quarter against the San Diego State Aztecs at Albertsons Stadium.
November 29, 2024

Schools Are Scrambling to Prepare for the NCAA Revenue-Sharing Era

In the post–House v. NCAA world, “everyone’s kind of on their own.”
Nov 4, 2024; Kansas City, Missouri, USA; Recording artist Taylor Swift arrives prior to a game between the Tampa Bay Buccaneers and the Kansas City Chiefs at GEHA Field at Arrowhead Stadium.
November 29, 2024

The PWHL Could Be Inviting a Date With Taylor Swift’s Legal Team

The Toronto Sceptres may have opened a Pandora’s box of trademark issues.
DraftKings

DraftKings Lowers Full-Year Guidance After Brutal NFL Outcomes

DraftKings cited a tough start to the fourth quarter in lowering its 2024 guidance.
Nov 4, 2024; Kansas City, Missouri, USA; Kansas City Chiefs wide receiver DeAndre Hopkins (8) celebrates with quarterback Patrick Mahomes (15) after scoring against the Tampa Bay Buccaneers during the second half at GEHA Field at Arrowhead Stadium.
November 6, 2024

Missouri Becomes 39th State to Legalize Sports Gambling

Missouri was the only state with sports gambling on its ballot this election cycle.
Sports betting Analyst Steve Coughlin gives out high-fives on the set of ESPN's College Game Day at the University of Texas, ahead of the Longhorns' game against the Georgia Bulldogs in Austin, Oct. 19, 2024.
November 7, 2024

ESPN Bet at Critical Point As Penn Reports Quarterly Earnings

The two sides agreed to a 10-year deal last August.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
November 5, 2024

On the Ballot: Sports Betting, Former Athletes Impacting the 2024 Election

Several U.S. Senate candidates have sports backgrounds, while Missouri voters will consider legalizing sports betting.
Tony Hinchcliffe at Donald Trump rally.
November 4, 2024

Sports Betting Companies Holding Comic at Arm’s Length After Trump Rally

Hinchcliffe drew criticism over his comments at a rally for Trump.
November 1, 2024

Polymarket Is Pushing Into Sports Betting

Once the ballots are counted, Polymarket needs to take on sports.
October 29, 2024

Parent of Action Network, Playmaker HQ Cuts More Than 100 Jobs

Better Collective laid off dozens of employees this week.