What is Jock MKT?

Jock MKT (“Jock Market”) is a stock exchange for sports. It combines elements of daily fantasy sports (like fantasy scoring and player valuations) into a stock-market-based game where users attempt to cash out for more money than they invested at the end of the slate. The platform is unique from other DFS websites in that it doesn’t ask its users to set rosters or build lineups around certain positions to participate. Instead, Jock MKT simply gives all of its users the ability to buy, sell or hold shares of players, and also provides final slate rankings–based on their fantasy scoring system–which is tied to fixed payouts. 

To play on Jock MKT, users must first invest in a player either during its pre-game IPOs, or in-game using its live bidding feature. After you are done buying shares, you then have the ability to sell those shares at any point after the slate your player is involved in has started (assuming you can find a buyer). 

To cash out, you can either sell shares to another user, in-game, or you can simply hold onto your shares until the end of the game/slate to receive fixed payouts. These fixed payouts will be tied to final player rankings, based on the fantasy scoring provided by Jock MKT.

Who founded Jock MKT and where was it created?

Jock MKT was created and co-founded by Tyler Carlin out of Boston in 2020. The venture included investment from bigger names in the gambling, sports betting, and DFS space, including Brandon Adams, Ryan Moore (an early DraftKings investor), and Will Ventures. 

Jock MKT’s creation was seen as a large innovation in the space, with it being the first market-based daily fantasy sports offering. With most sites still offering classic salary-based games, or single-player prop-based formats, Jock MKT’s unique market approach sets them apart from nearly all its competitors. 

What markets does Jock MKT offer?

Jock MKT is expanding and currently offers games in all of the major sports. They currently have live cash markets for NFL, NBA, PGA, NHL, MLB, and Nascar. These sports all operate based on Jock MKT’s own fantasy scoring system. 

A couple of the more interesting scoring features to watch for on Jock MKT include:

• In PGA scoring, Jock MKT awards 0.0 points for a bogey but 2.0 points for a birdie (and only 3.0 for an eagle). This makes birdie makers valuable in the sense that there’s little punishment for a player putting a couple of bogies on the card.
• In MLB scoring, home runs are valued at just 4.0 points, only +1.5 points more than a single. Consistent hitters then gain a little more value than home run hitters compared to other daily fantasy sites.
• In NBA scoring, a missed FG attempt is worth -0.5 points. This certainly hurts high-volume shooters and the +2.0 points for blocks make big men, with high FG percentages, more valuable.
• In NFL scoring, interceptions and fumbles are worth -3.0 points, making interception-prone QBs a higher risk. 
  • Receptions in the NFL are also worth 1.0 points, bumping up the value of receivers and there are bonuses at 100-yards for passing, receiving, and rushing.
  • Since we are not building positional rosters on Jock MKT, their NFL scoring attempts to make the gap between QBs and other positions smaller, giving QBs smaller bonuses and bigger penalties for interceptions. 

What is a sports stock market?

Jock MKT operates almost exactly like the regular stock market. In Jock MKT’s MARKET format, users can enter and exit positions as they like. There is no set contest entry fee or amount that players need to invest to play. Players can buy as many shares as they want and the price they are willing to pay is entirely up to them. 

The main difference between the regular stock market and Jock MKT’s MARKET format is that on Jock MKT, users are investing in players instead of companies. Specifically, users are investing in the fantasy performance of their players. Based on Jock MKT’s own fantasy scoring system, players will be ranked at the end of each slate and their shares assigned a certain payout amount. 

Jan 2, 2022; Arlington, Texas, USA; Arizona Cardinals quarterback Kyler Murray (1) rolls out in the second quarter against the Dallas Cowboys at AT&T Stadium. Mandatory Credit: Tim Heitman-USA TODAY Sports

How to play on Jock MKT 

Jock MKT offers two different styles of games, the MARKET format, and the CONTEST format. 

Contest format

For Contests, all of the players buy into a contest for the same amount, making it relatively similar to most traditional daily fantasy site contests in that regard. All players in Jock MKT contests then receive the same number of chips. At the end of the contest, a user's total chip count (balance + shares), relative to other users’ amounts, determines your prize amount. 

Markets format

For Markets, there is no contest entry fee and each transaction is graded on its own. So if you buy one share @ $5.00, then you would be deducted $5.00 from your account. If you then sell that share for $10.00, Jock MKT will add $10.00 to your cash balance (and the user would make a $5.00 profit).

The MARKET format has a few more nuances to it that we will discuss below. 

What is the IPO Phase on Jock MKT?

The IPO (Initial Public Offering) phase is the phase when users buy shares of players before the actual event occurs. Much like in the actual stock market, IPOs allow investors to get in early on a company or product before it is available in the open market. IPOs on Jock MKT allow users to bid on shares of players before the actual event starts and we can see the action. 

Generally, on Jock MKT the IPO phase starts on the same day the actual event starts. 

Each slate will have a predestined start time for when both the IPO process opens and when the live bidding begins (e.g. when the actual games or slate begins).

During the IPO phase, each player is also allocated an IPO price. To bid on shares of a player you have to both allocate the number of shares of a player you would like to receive and the price you are willing to pay.

In the above example, Lamar Jackson’s IPO opening price was $4.50 per share. To bid on him you would need to put in a price higher than $4.50. If the bidding ended and no one put in a bid higher than $8.00, the user in the above example would win all of the shares he requested on Lamar Jackson.

How is the final price of a player determined on Jock MKT in the IPO phase?

In the IPO, the final price is determined by the person who put in the second-highest bid. This makes Jock MKT auctions “second-price auctions”, meaning the winning bidder pays the second-highest bid. In the above example, if the $8.00 bid on Lamar Jackson was the highest on offer and the second-highest bid ended up being $7.00, Jock MKT would adjust the winning bid to be $7.01. Essentially the winning bid ends up being 0.01c higher than the person who placed the second-highest bid. 

Can I still win shares of a player if I am not the highest bidder?

Yes, but it depends on how many shares the highest bidder of the IPO requested. For example, if there were 10 shares available on Lamar Jackson and the highest bid was $8.00, but the high bidder only requested seven shares, the remaining three shares would go to the next highest bidder and the winning bid would also be adjusted to be $0.01 higher than the third-highest bid. 

Example:

• Player A bids on seven shares for $8.00
• Player B bids on five shares for $7.00
• Player C bids on five shares for $6.00

In the above example, Player A would win his seven shares since he was the high bidder. However, since there were 10 shares available the three remaining shares would go to the next highest bidder, in this case, Player B who bid $7.00. The winning price would also adjust to $6.01 as that is what Players A and B needed to outbid Player C. 

Jock MKT will always adjust the winning price to 0.01c above the lowest bid not to win shares. 

How many shares are available of a player on Jock MKT?

Jock MKT always adjusts the number of shares based on a formula that accounts for a number of factors. Increasing demand will often lead to increased shares and vice versa. 

What if I miss the IPO phase on Jock MKT, can I still play?

Yes, the IPO is only the first time users have the ability to make a bid on a player. During the open market section of gameplay, users have the ability to buy and sell from each other while the games are going on. Users can submit offers (which will show up as “the bid”) and users can offer to sell shares (which will show up as “the ask”). 

Once either a buyer accepts a seller’s ask, or a seller accepts a buyer’s bid, then the trade of shares is transacted with sellers getting paid out and buyers getting the shares they agreed to purchase. 

What is the Open Market phase on Jock MKT?

Unlike the IPO phase, which occurs before the slate or match begins, the Open Market phase on Jock MKT occurs while the game (or games) are actually being played. Further, while the IPO phase on Jock MKT requires users to put in bids for players, in the Open Market phase, players are constantly buying and selling from each other, making offers through the in-play section. 

As we can see, the Jock MKT app provides users with the current bid and ask price during the open market phase, much like you’d see on a stock quote if you were trading during trading hours on the NYSE or another exchange. Players can not only set their bid or ask, but also adjust how many shares they want to buy or sell. 

The key to playing during the open market session is to notice when players might be undervalued based on their performance during the game. If a player is starting to rack up targets or catches in an NFL game, for example, but his ask price hasn’t changed in a few plays, it might be time to step up your bid and grab shares. 

The beauty of Jock MKT is that while the open market session does allow you to make trades, in-game, one doesn’t need to be present during this portion to profit. If you simply hold your shares, you will eventually receive a payout at the end based on the final rankings. 
In many ways, the open market session is more for people who like trading and quick deals, while simply holding till the final payouts section may appeal more to people who like long-term investing. 

How are valuations made on Jock MKT?

Before each IPO, players are assigned a valuation on Jock MKT to rank them for the slate, often referred to as a player’s fair value. These fair values are more guides than anything but players are generally ranked on their projected finish, which is often determined by looking at player prop odds, or finishing position odds for the PGA Tour or Nascar. 

Once a player has a projected finish, Jock MKT gets a fair value projection by implementing that projected finishing position into their payout structure. 

As mentioned above, the fair market values on Jock MKT are just guides and you, as a user, have to ultimately decide whether a player is ranked appropriately or whether he should have a higher or lower valuation. Once you’ve made the decision about a certain player, however, you can use that final valuation to set where your max bid might be in the IPO process. 

What is a Fair Value finishing position on Jock MKT?

Fair value generally refers to the agreed-upon price paid between a buyer and seller. In Jock MKT, once the IPO finishes, each player is also assigned a fair value finishing position. If a player finishes at this position, he’ll pay out exactly what was paid for him in terms of his share value – and the user will break even on the transaction. If he finishes above it, then the user will earn a profit from his shares. If the player finishes below it, the user will lose money from the purchase. 

As we can see above, the $8.00 per share this user was planning on paying for Lamar Jackson had an implied breakeven rank, or a fair value finishing position, of 15th place. Hence, Jackson’s fair value finishing position (had these shares been bought for $8.00), would have been 15th place, overall, on the slate. 

When Does Jock MKT payout?

If you are playing in the MARKET contests, Jock MKT pays out at two different points: when you sell your shares to another user–during the open market session–or at the end of the slate. If you sell shares in the open market session, you are simply paid the agreed-upon price between you and another user. So if you agreed to sell 10 shares of Patrick Mahomes at $10.00 per share, you would get paid out $100.00 for those shares. 

As for final slate payouts, Jock MKT uses a ranking system. Each place correlates to certain share prices for every slate. 

For example, if a player finishes fifth on the above slate in scoring, every share of that player you own when the slate finishes would be worth $14.00. If you had 10 shares of that player and purchased them at $10.00 per share ($100.00) those shares would now be worth $140.00 at the end of the slate and net you a $40.00 profit. 

Frequently Asked Questions

• Is Jock MKT Legit?
  • Yes. Jock MKT is a relatively new player in the daily fantasy sports space but their stock exchange format has been well received. It currently operates in 35 states and offers guaranteed payouts for all its contests. 
• Where is Jock MKT available for download?
  • Jock MKT is an app-only based game. It is available for download in both the Google Play store and in the Apple App Store or iOS store. It currently has a 4.6 out of 5.0-star rating in the iOS store. 
• How do I deposit on Jock MKT?
  • As of now, credit cards are accepted on Jock MKT.
• How do I withdraw from Jock MKT?
  • As of now, eChecks are the only method of withdrawal on Jock MKT. 
• How old do you have to be to play on Jock MKT?
  • Jock MKT has a legal age limit of 18, as defined by their website, in order to enter real-money contests on their website. However, the age limit is also defined on a state-by-state basis. So, in jurisdictions, territories, and locations where the minimum age for permissibility is greater than eighteen (18) years old, you must meet the age requirement in your local jurisdiction or territory.

What states is Jock MKT legal in?

Jock MKT is currently legal in 35 states and Washington DC. As of now residents in Arizona, Connecticut, Delaware, Hawaii, Idaho, Indiana, Iowa, Louisiana, Michigan, Mississippi, Montana, Nevada, Pennsylvania, Virginia, and Washington are not eligible to play. Jock MKT is currently also not available in Canada.