Prediction Strike with Deven Hurt | E203
Merging sports betting and the stock market.
In today’s episode, Jason is going to talk to Deven Hurt. They are going to talk about the company Prediction strike of which Deven is the CEO and Co-Founder. Prediction Strike is a sports betting platform that treats athletes like stocks.
Episode Highlights:
00.45: Deven says, prediction strike is a sports stock market that allows users to buy and sell shares of athletes as if they were stocks. He said that they want people to start feeling like they are investing in players and using their sports knowledge as an investment.
02.15: Deven worked at Nike for two years doing cyber security there. It was a great experience, and then he left to establish Prediction Strike full time.
08.06: Jason says, based on the market dynamics, you probably always will play the role of the market maker for players with liquidity below a certain level and bench players whom no one knows their first name outside of their city.
09.01: Deven says market dynamics have been so interesting for us to watch from a sports fan's perspective, from a purely academic perspective and a business perspective.
11.31: Jason affirms, as you guys are creating a market price, there will be some transparency in how you do it and specifically in the earnings.
15.44: Jason inquires, some platforms try to create a connection between athlete and player, but the question becomes like, where is the motivation on both sides?
19.26: Deven says we have started to work on partnering with athletes, and a big thing that we have told all the athletes is we want you to do whatever you want to do.
21.20: Deven explains that they are doing NFL, NBA, UFC right now, which has been exciting, and the next phase is going to be expanding esports. They have baseball and global soccer or global football as the priority.
23.05: Academics will be very curious to see how market dynamics play out and the number of papers just being written off to see your behavior in terms of valuation and market clearing, says Jason.
25.05: Deven says that they are only acting as the market maker, and at that standpoint, they represent the perceived band for the athlete who got injured or if the athlete is not coming back.
25.23: Jason asks, if you had one wish you could change in your company or industry as a whole, what would it be?
28.44: Jason says, in Prediction strike, if you are willing to put the money in, you can have whatever draft team you ever want regardless of who else is playing the game, and that’s a key differentiator.
3 Key Highlights
Deven explains how prediction strike works and how it is different from other sports betting options out there.
The interesting thing about traditional fantasy is you can’t necessarily get access to players you want. Whereas in prediction strike, you could construct whatever team you want. You just have to be willing to pay the price to get them on your team, says Jason.
Athletic lives are short. In most cases, very few convert them into marketable brands that can be carried on after they retire, says Jason.
Tweetable Quotes
“Athletes who play games matter, and we decided to treat each game as an earning part. If athletes do better than the earning part, their value has increased, and their value has decreased if they do less. “– Deven
“The fan perception of athletes is so funny in how that matches up with how the players play, and sometimes it doesn’t.” – Deven
“The amount of random jets and giants players who get traded is spectacular, and it’s just because they are so dialed into that hometown and hometown effect is real.” - Deven
“I learned that it takes almost $200 million to go through the licensing if you want to operate as an online sports bet.” - Deven
Resources Mentioned:
Facebook – Jason Pereira’s Facebook
LinkedIn – Jason Pereira’s LinkedIn
Woodgate.com – Sponsor