Paddy Power invests in trading exchange start-up
The former head of communications of Paddy Power is raising €500,000 to accelerate growth at the first sports trading exchange – ASX.
Paddy Power, who said that ASX will offer sports fans a new way to speculate on player and team performance, has launched a crowdfunding campaign on Spark CrowdFunding.
Paddy Power explained that ASX is integrating fantasy sports scoring with financial market technology to create the world’s first sports trading exchange.
The platform will offer live “share prices” of individual players and teams based on expected performance.
Its proprietary AI-driven algorithm and live data feed will update prices continually and ASX users can buy or sell shares based on how they believe a player or team will perform in the short run or long run.