“What important truth do very few people agree with you on?”
– Peter Thiel, Entrepreneur, Venture Capitalist, and Author of Zero to One
Sports and money can mix in socially beneficial ways.
This is the point where you roll your eyes and say. “Huh? Is this some sort of gambling?”
Well, here you go. The reason that you are thinking gambling when we mention sports and money is precisely why very few people agree with us on the fact that this can be done in socially beneficial ways.
For time eternal or nearly, the intersection of sports and money has been an undeniably attractive destination. It has the potential to create a prosperous economy and take our entire nation to unprecedented new heights. However, so far, it has manifested itself through sports betting and daily fantasy sports and produced nothing but problems and agony along with financial benefits to a very select few.
Let’s think this through:
- Do people like to speculate?
Yes. Humans have a natural desire to speculate
- Do people like to speculate on sports outcomes?
Of course. Their desire is heightened even more if the subject matter is sports
- Should we legalize sports gambling?
Absolutely NOT. That’s not even the right question.
The right question is…
Can we mix sports and money in a way that is a win-win for the governments, leagues, sports fans, and America?
Most people stopped questioning a long time ago whether sports and money can mix without harming us. We didn’t. We are kind of stubborn that way. The first market that came out of that was AllSportsMarket, a sports stock market. Check it out at allsportsmarket.com
Why is AllSportsMarket Not Gambling?
Short answer: Because it serves a purpose.
- Capital formation – Leagues can raise capital just like companies going public
- Price information – Each team (and league) has a price, therefore the sports industry and other stakeholders can make better decisions
- Portfolio management – Sports becomes an asset class. You can invest in sports or diversify your portfolio
- Risk management – The sports industry and other stakeholders can manage risks.
- Protect integrity – Incentives to cheat are removed. Therefore, sports stays pure.