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Chicago startup's NHL deal creates new way to bet on sports teams' performance

First publishedAug 15, 11:00 UTC
Last updatedAug 15, 12:25 UTC · just now ago
11 outletChicago Sun-Times
Chicago Sun-Times6Chicago startup's NHL deal creates new way to bet on sports teams' performanceOpen ↗
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Answer

<p>Hockey fans and everyday investors could soon trade on the performance of the Blackhawks or other NHL teams through futures contracts.</p><p>Chicago-based startup FutureSports announced a landmark deal last week with the NHL that would use official game statistics to establish financial indexes on the league's 32 teams — a first in finance and sports. It comes on the heels of FutureSports' partnership with Loop-based CME Group to offer sports futures contracts.

Reported by 1 outlet — Chicago Sun-Times. See all sources ↓

<p>Hockey fans and everyday investors could soon trade on the performance of the Blackhawks or other NHL teams through futures contracts.</p><p>Chicago-based startup FutureSports announced a landmark deal last week with the NHL that would use official game statistics to establish financial indexes on the league's 32 teams — a first in finance and sports. It comes on the heels of FutureSports' partnership with Loop-based CME Group to offer sports futures contracts. CME operates the world’s largest futures exchange.</p><p>Futures contracts, tied to the value of indexes, allow investors to buy or sell an asset at an agreed price by a specific date. It also allows traders to hedge risks.</p><p>For decades, futures contracts have primarily been associated with agriculture products, like corn and soybeans, or energy commodities, such as oil and natural gas, as well as stock indexes like the S&amp;P 500.

Read the full report at Chicago Sun-Times ↗

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In brief
What's the story?
<p>Hockey fans and everyday investors could soon trade on the performance of the Blackhawks or other NHL teams through futures contracts.</p><p>Chicago-based startup FutureSports announced a landmark deal last week with the NHL that would use official game statistics to establish financial indexes on the league's 32 teams — a first in finance and sports. It comes on the heels of FutureSports' partnership with Loop-based CME Group to offer sports futures contracts.
How widely is it covered?
1 outlet, average source rating 6.0/10.
When was it last updated?
just now ago.
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    Chicago startup's NHL deal creates new way to bet on sports teams' performance

    Sources1
    TypeCoverage
    Chicago Sun-Times
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organizationChicagoorganizationNHL
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Avg source rating 6.0/10
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