Contests are scored similar to our Market events. However, instead of using real dollars to purchase shares or each player, you will be allocated a pre-determined set of chips to purchase shares. Those shares will pay out based on how the player finishes in the event, and the users with the highest payouts will win big prizes
How are player share prices determined?
- Player share prices are determined by their projected payout at the end of the event, and their payout is an amount from 1-25 based on where the player (ranked by fantasy score) finishes relative to the other players in the event. Therefore, whomever scores the most fantasy points out of all the players in the event will payout 25/share, whomever scores the least fantasy points out of all the players in the event will payout 1/share, and the players in between will all payout relative to their ranking in the event. You can see all the payout valuations by clicking the 'i' icon in the top right corner of the event page and clicking 'Valuations'.
How do I figure out whether I should buy a share or not?
- The best strategy to begin is to think about your favorite player (or one that you're familiar with) and then estimate how many fantasy points you think they'll score tonight. Then, look at all the other players in the list and take a guess how many of those players will score above that player. This will determine what rank you think your player will finish, and then based on the valuation chart previously shown and its current price, you can then determine whether it makes sense to purchase shares of that player or not
For example, in the scenario above let's say your favorite player is Steph Curry. Based on all the players playing tonight, you think Steph will score more fantasy points than all except for 4 players. Therefore, you believe Steph will finish 5th or higher in the event. Then, you go to the Valuation page to see that 5th place pays out 15. This means that you should be willing to purchase shares of Steph if the current price is anything less than 15. You go back to the page and see his share price is currently 11.50, so you go ahead and purchase 10 shares for 11.50 each (115.00 total). Then, you hold the shares till the end of the event and find out Steph did indeed finish with the 5th highest fantasy total, paying out 15/share! Because you had 10 shares, you were paid out $150 for those 10 shares, meaning you made a profit of 35 total (150-115).
As you continue playing, you'll begin to learn more about how and when to purchase players. You can bid on shares before the games begin (the IPO period) or buy shares from existing players while the event is live. The key is to always think about where a player is going to finish ranking-wise and try to find the best value based on current pricing.
Where should I go from here?
- You can look at our other FAQs if you have any other specific questions or jump right into an event. They're free to join and you can decide whether you want to buy shares or not at any time while the event is open!