By opening an account with SportsTrade, LLC, the user understands and agrees to the following Terms and Conditions:
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 price changes and player values change based upon two factors. The first is how the players perform in games relative to their fantasy projections. If a player beats their projected fantasy score, their share value will rise. If a player misses their projected fantasy score, their share value will fall. The second factor, is "supply and demand". The more shares in a player that are purchased on the SportsTrade platform, the higher the player's value goes. The more shares that are sold, the lower the player's value goes.
User understands that player values, as well as user profits and losses, are based on algorithms which take into account the player'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 firstname.lastname@example.org.
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 $400 in shares that are cumulatively purchased on the platform, the share price will increase 1% and for every $400 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 2.9% + $.30 transaction fee for all account deposits and withdrawals 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 share purchases and sales made.
Withdrawals are processed through PayPal and may take up to 5 business days to appear in the users 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 trading directly with SportsTrade, LLC and SportsTrade, LLC will clear all trades. Therefore there is no requirement for a third party user in order to consummate purchases or sales.
User is aware and understands while the SportsTrade platform has the appearance and functionality of a stock market that they are not purchasing any equity or ownership in the player. They are simply purchasing virtual shares in the player that rise and fall on a percentage basis which is a function of their game performaces and the number 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.
User understands that the strategy of buying player 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 and NBA players projected fantasy points that are 20 or less do not move the price based upon that game's performance. They will, however, 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:
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 most an NFL player's share price can increase in one game is 100% of their pre-game price. The most an NBA player's share price can increase in one game is 100% their pre-game price. The most an MLB player's share price can increase in one game is 30% of their pre-game price and the most an MLB player's price can decrease in one game is 25% of their pre-game price.
User understands that if a player is injured during a game, their share price will change according to the fantasy points they scored in the game until the injury occurred. 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 price or value.
User understands that in rare cases a player's value can go to zero and in that case, their value will be reset to $1.00. If a player's value goes to zero, all users who held shares in that player will no longer own any.
User understands that SportsTrade will reset a player's share price if they've performed exceptionally well (very large increase in price) or exceptionally poorly (very large decrease in price) in order to keep share prices in line with the player's ability. If an increase in a player's price is made, all shareholders in that player will see a decrease in the number or shares they own and if a decrease in a pleyer's price is made all shareholders in that player 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. While SportsTrade may reset player prices at anytime, in general, all player price adjustments will be made during the off-season.
User understands and agrees that if any promo or referal codes are used that all funds deposited, including the bonus or referal funds, must be used to purchase shares and that while the shares may be traded (bought and sold) all funds must remain on the platform, and actively traded or left in player shares, for a minimum of one year. Funds obtained from referral or promo 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 attempting to circumvent and improperly take advantage of the bonus or referral program. If a termination occurs, all funds deposited (minus the referal or bonus funds and minus any trading gains or 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.