Mojo
Sports stock market platform Mojo has launched a new daily fantasy game in 19 US states, as well as Washington DC.
Confirmed:
- Mojo Fantasy platform to host contests that users can enter by selecting combinations of at least four player-based props
- Mojo to allow users to trade certain bets in real time, with salaries to continue fluctuating throughout the contest
- App to allow competitors to build portfolios that compete with each other during live matches
- Startup to take three to five per cent of the buy-in on each contest
- Mojo previously launched a sportsbook product in New Jersey last year
Context:
Mojo was founded by retired Major League Baseball (MLB) ace Alex Rodriguez, former Walmart chief executive Marc Lore and Bart Stein, alongside its current chief executive Vinit Bharara.
It has raised over US$100 million to date, with its investor roster also including the National Football League Players Association (NFLPA) and entrepreneur Gary Vaynerchuk.
Comment:
“The idea was: maybe we could create … a gamified real-money, daily fantasy-version of our sportsbook,” Bharara told Sportico.
“It was really just trying to get that kind of substance, the unique differentiated stuff of Mojo, into more peoples’ hands.”
Coming next:
Bharara told Sports Business Journal (SBJ) that Mojo plans to roll out its sportsbook product to several more states going forward.
