PENNSYLVANIA GAMING CONTROL BOARD APPROVES JOCK MKT TO BECOME STATE’S FIRST APPROVED STOCK MARKET FOR FANTASY SPORTS Jock MKT allows users to buy and sell virtual shares of NFL, NBA, NHL, MLB, and PGA Tour athletes for real money in real-time
PHILADELPHIA
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December 13, 2022 09:05 AM Eastern Standard Time
Backed by many of the giants of the sports betting industry and inspired by a traditional stock exchange, Jock MKT (Jock Market) announced it is fully operational in the State of Pennsylvania as of December 2022. Jock MKT allows users to buy and sell virtual shares of athletes in the NFL, NBA, NHL, MLB, PGA Tour, and NASCAR in real time during every second of every game for real money. Jock MKT is available via iPhone, Android, and the web for adults 18 and over and physically located in approved states.
Launched in 2020, Jock MKT executives spent nearly two years working with the Pennsylvania Gaming Control Board to obtain a license to operate in Pennsylvania. The platform is now available in 35 states, including the nearby states of New Jersey and Ohio. As of Dec. 13, Jock MKT customers have traded 19.3 million shares, placing orders that exceed a combined $218 million on the platform.
“With some of the nation’s most knowledgeable and passionate sports fans residing in Philadelphia and Pittsburgh, we know residents in Pennsylvania are going to enjoy the strategies and intricacies of Jock MKT,” said Jock MKT CEO Tyler Carlin. “Like a traditional stock market, our platform involves skill. However, with today’s news, we may see demand surge for shares of Jalen Hurts, A.J. Brown, and Joel Embiid on one side of the state and Kenny Pickett and Sidney Crosby on the other.”
Jock MKT’s main differentiator is its cash market format – this unique offering gives users more flexibility and optionality versus typical daily fantasy contests. Customers can join at any time and for any dollar amount. They can buy and sell shares of athletes in real-time, lock in gains by selling early hot performers to another customer in-game, or hold to the end and receive fixed Jock MKT payouts tied to final player rankings based on overall fantasy scoring. Each cash market starts with an “Initial Player Offering,” or an IPO, where users have their first opportunity to bid on shares before any contest.
As an organization, Jock MKT has tripled its workforce over the last year and plans to continue adding new features and offerings for fans. Jock MKT recently introduced longer-term markets that allow users to root for a player for a month or longer while having the opportunity for a monetary return in the short term.
Jock MKT’s co-founder is Tyler Carlin, a 2013 MIT Sloan School of Management graduate. The platform raised its first round of funding led by Will Ventures, followed by a Series A round led by Left Lane Capital. Will Ventures’ Founding Partner and Managing Director is Isaiah Kacyvenski, a retired eight-year NFL veteran with a Harvard MBA.
About Jock MKT
Headquartered in Boston and launched in 2020, Jock MKT (JockMKT.com) is a skill-based fantasy gaming platform where customers can make real money – every minute, every second, of every game. Inspired by a traditional stock exchange, Jock MKT allows customers to buy and sell shares of athletes in real time. Jock MKT was co-founded by Tyler Carlin, and investors include Left Lane Capital, Will Ventures, Ryan Moore, Brandon Adams, Benjie Cherniak, Tim McSweeney, and Alumni Ventures Group. Available in the U.S. in 35 states, Jock MKT offers gaming options for events tied to the NFL, NBA, MLB, NHL, PGA Tour, and NASCAR.
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Eric Nemeth
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