By opening an account with SportsTrade, LLC, the user understands and agrees to the following Terms and Conditions:
User is aware and understands while the SportsTrade platform has the appearance and similar functionality of a stock market that it is not a stock market, it is a fantasy sports game.
User understands that they are not purchasing any equity or ownership in the player or team. They are simply purchasing virtual shares in the player or team that rise and fall on a percentage basis which is a function of the dollar volume of shares bought and sold on the platform. However, at no time is there a transfer of any actual equity or ownership in the player or team.
User understands that SportsTrade, LLC legally falls under the category of Daily Fantasy Sports. While the user may profit or loss using the SportsTrade platform, it is not a sports betting/gambling site.
User understands that playing Fantasy Sports for money is permitted in all states except for Arizona, Hawaii, Idaho, Louisiana, Montana, Nevada and Washington. Users in those states are prohibited from participating in SportsTrade or using the SportsTrade.com platform.
User understand that SportsTrade.com provides a real money trading platform and that they may profit or loss using it. User agrees to hold SportsTrade, LLC legally harmless for any losses that may be sustained while using the platform.
User understands that player/team share quantities owned change based on one factor. The player's/team's performance in games, relative to their fantasy projections for that game. If a player/team beats their projected fantasy score, the quantity of shares in that player/team that the user owns will rise. If a player/team misses their projected fantasy score, the share quantity owned will fall.
User understands that player/team share prices rise and fall based soley on "supply and demand". The more shares in a player/team that are purchased on the SportsTrade platform, the higher the player's/team's value rises The more shares that are sold, the lower the player's/team's share value goes. Specifically, for every $1000 in shares that are purchased on the platform, share values will increase by 1%. For every $1000 in shares that are sold on the platform, share values will decrease by 1%.
User understands that only shares that are purchsed will impact player/team share prices. Shares that are won based on a player's/team's game performance will not impact the share price when they are won or sold.
User understands that player values and share quantites won/lost, as well as user profits and losses, are based on algorithms which take into account the player's/team's average Fantasy Scores in order to create a fair environment for our users. In an effort to maintain a fair trading environment, the algorithms used are subject to change at SportsTrade's discretion at anytime. For more detailed information of the algorithms used, please email email@example.com.
User understands that as shares of a player are purchased or sold on the SportsTrade.com platform, their value will increase or decrease. More specifically, currently, for every $1000 in shares that are cumulatively purchased on the platform, the share price will increase 1% and for every $1000 in shares that are cumulatively sold on the platform, the share price will decrease 1%. These purchase and sale milestones and their impact on player values are subject to change at SportsTrade's discretion. Any change or update made to the milestones and/or percentage changes will be posted under the Terms and Conditions.
User understands that all deposits are currently processed by Stripe and held by SportsTrade US, LLC. User's account balances will be shown in their SportsTrade.com account at all times and funds may be withdrawn at anytime.
User understands that SportsTrade, LLC charges a one time 3.1% + $.30 transaction fee for all account deposits made, which covers the merchant service fees paid by SportsTrade, LLC. In addition, user understands that SportsTrade, LLC charges a fee equal to 2.5% of the trade value on all purchases and sales made.
Withdrawals are processed through PayPal or via check. All check withdrawals are free to the user and PayPal charges their normal fees. All withdrawals via PayPal may take up to 5 business days to appear in the user's account.
SportsTrade, LLC reserves the right to invest user funds held in their account in an interest bearing, FDIC insured, account. All interest earned will be for the benefit of SportsTrade, LLC.
User understands that they are purchasing and selling directly with SportsTrade, LLC and SportsTrade, LLC will clear all purchses and sales. Therefore there is no requirement for a third party user in order to consummate purchases or sales.
User understands that the strategy of buying player or team shares for a long term hold is not ideal and that short term or "day trading" is the ideal strategy for profitting on the platform.
User understands that NFL players with projected fantasy points that are 5 or less, MLB players with projected fantasy points that are 2 or less and NBA players with projected fantasy points that are 20 or less do not impact the share quantities owned based upon that game's performance. However, share prices will always move based upon supply and demand.
User understands that SportsTrade.com's Fantasy Point Projections, scores, odds and player performance data are provided by SportsData.io. All projections and odds are constantly updated until game time and are subject to change at SportsTrade's discretion.
User understands that NFL fantasy points are calculated based upon standard PPR +1 scoring and that NBA and MLB starting fantasy points are calculated by SportsData.io according to their formula. The formula's are as follows:
Passing Yards: 1 point per 25 yards
Passing Touchdowns: 4 points
Passing Interceptions: -2 points
Rushing Yards: 1 point per 10 yards
Rushing Touchdowns: 6 points
Receptions: 1 points (only if using PPR scoring)
Receiving Yards: 1 point per 10 yards
Receiving Touchdowns: 6 points
2-Point Conversions: 2 points
Fumbles Lost: -2 points
Fumble Recovered for a Touchdown: 6 points
Three Point Field Goals: 3 points
Two Point Field Goals: 2 points
Free Throws Made: 1 point
Rebounds: 1.2 points
Assists: 1.5 points
Blocked Shots: 2 points
Steals: 2 points
Turnovers: -1 points
Singles: 1 point
Doubles: 2 points
Triples: 3 points
Home Runs: 4 points
Runs: 1 point
Runs Batted In: 1 point
Walks: 1 point
Hit By Pitch: 1 point
Stolen Bases: 2 points
Caught Stealing: -1 point
User understands that regardless of the number of fantasy points scored, the maximum and minimum share quantity gains and losses for each league are as follows:
NFL and NBA player's and teams maximum per game share quantity increase - 100%
NFL and NBA player's and teams maximum per game share quantity decrease - 90%
MLB player's maximum per game share quantity increase - 100%
MLB player's maximum per game share quantity decrease - 50%
MLB team's maximum per game share quantity increase - unlimited
MLB team's maximum per game share quantity decrease- 100% (only in the case of a perfect game)
User understands that if a player is injured during a game, their share quantuty owned will change according to the fantasy points they scored in the game prior to the injury. If a player is listed as injured before a game or is not playing in the game for any reason, that game will not affect their share quantity owned.
User understands that SportsTrade may reset a player's/team's share price if a large volume of shares in the player/team (very large increase or decrease in price) in order to keep share prices in line with the player's/team's ability. If an increase in a player's/team's price is made, all shareholders in that player/team will see a decrease in the number or shares they own and if a decrease in a pleyer's/team's price is made all shareholders in that player/team will see an increase in the number of shares they own. Any price adjustments made will have zero effect on the value of the user's holdings in the player/team. While SportsTrade may reset player/team prices at anytime, in general, any adjustments will be made during the off-season.
User understands and agrees that if any bonus or promo codes are used, that all funds deposited, including the bonus or promo funds, must be used to purchase shares in players or teams and that while the shares may be bought and sold, all funds must remain on the platform, and actively traded or left in player/team shares, for a minimum of one year. Funds obtained from promo or bonus codes may not be withdrawn from the user's account for a minimum of one year. All bonus or promo codes may only be used once. If a bonus or promo code is used more than once, the invalid amount will be deducted from the user's account prior to their final withdrawal. SportsTrade has the authority at anytime and soley at their discrection, to terminate the account of any user that they determine has attempted to circumvent and improperly take advantage of a bonus or referral program. If a termination occurs, all funds deposited (minus the promo or bonus funds and minus any losses sustained) will be returned to the user.
By agreeing to the Terms and Conditions, User grants SportsTrade the full authority and permission to email, call, text or SMS them at the email address and phone number provided.
Users are able to trade on the platform, on all players, all year round.
The above Terms and Conditions represent the entire understanding of the user and no other representations or understandings, whether written or oral, supersede them.