What’s the IPO

The “Initial Player Offering” is an auction, where the highest bidder pays one penny more than the next highest bidder (it’s a second-price auction, but think eBay).

For example, if you have the highest bid for Lamar Jackson at $14, and the second highest bid is $10, then you pay $10.01.

IPO Basics

The IPO window generally opens 24-48 hours prior to the start of an event, and closes shortly before games go live (maybe ~30 min.).

During the IPO, users bid for player shares (your best offer * # of shares).

Bid close to your max, because we bid for you up to that amount, and you never pay one cent more than you have to (other users can’t see your bid amount, so most of the time you pay less).

When you place a bid, your full bid amount is held as pending (your bid * # of shares).

You can bid for one or more players, as long as you have the funds to cover the total for each bid.

Note: Once an IPO bid is placed, you cannot edit or cancel.

When The IPO Ends

When the IPO ends, all winning bidders get access to their shares (at the same price).

The IPO price is either:

  1. The lowest bid for a user that received shares, or
  2. One penny more than the last user that wanted shares, but didn’t bid enough to qualify.

And when multiple users tie for the low bid, tie goes to the first bidder.

Also, any bids in excess of the IPO price are returned to users after the IPO.

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