Get Out AHEAD offers casinos and ADW’s a white label software solution, called Hedging Xchange, that allows their customers to resell all or a portion of their bets to others.
Traditionally, you have an “all or nothing” bet and the odds of the wager are set. If your 5 game parlay goes down in game 3 or 4, the end result is the same. Just like when your pick 4 horse race goes down in the last leg and there aren’t any consolation payoffs. It’s a loss and a loss of your investment/money.
Want to reduce your risk, guarantee yourself a profit, or get some liquidity out of your parlay? Place the wager on the ADW or Race and Sports Book virtual Hedging Exchange and set a price.
The virtual marketplace enables the account holder to render payment for the purchased ticket via funds in the buyers’ account. Once the bid is accepted, the money is immediately transferred from the buyer’s account to the seller’s account. Think of an eBay for gambling!
What started out as our attempt to change the gaming world immediately reverberated into the Sports Fantasy realm. While these are two distinct entities with independent legal boundaries, they share a number of commonalities. The Get Out AHEAD staff found that while building for the gaming industry, our product had even more application to the sports fantasy industry – and with less regulation!
Our product, Fantasy Sports Hedging Xchange, as it applies to the fantasy sports community, offers the same buy/sell experience (i.e. the account holder who has purchased/selected an entry into a fantasy tournament has the ability to sell all or a percent of his/her entry while the entry is ‘live’). Account holders within a specific sports fantasy application, have the option of bidding on and purchasing a designated piece of a live sports fantasy entry, should it be offered up for bidding. The seller gets some degree of liquidity and the buyer gets more action, which in turn creates more player involvement, larger player accounts and more revenue. The sports fantasy site gets a commission on each sale.