DonGoldsmith
New member
Hi,
I am building a UK app which is essentially a derivatives market for football players.
In terms of how it would work is as follows:
i.e. users can invest in a player i.e. Cristiano Ronaldo who's price would be something like £2. And then due to supply and demand forces in the market, the price of this derivative (as users do not actually own Ronaldo) would increase/decrease based upon users perception of his performance.
My app would only determine the formula for the pricing of this football derivative and transfer money between those who buy the derivative and those who sell the derivative - I won't determine any odds like betting shops - merely being a marketplace to connect derivative buyers to derivative sellers.
Would I need a license? If so how much would an app-based license approximately cost at the launch of the app and subsequent years?
Please advise,
Regards,
I am building a UK app which is essentially a derivatives market for football players.
In terms of how it would work is as follows:
i.e. users can invest in a player i.e. Cristiano Ronaldo who's price would be something like £2. And then due to supply and demand forces in the market, the price of this derivative (as users do not actually own Ronaldo) would increase/decrease based upon users perception of his performance.
My app would only determine the formula for the pricing of this football derivative and transfer money between those who buy the derivative and those who sell the derivative - I won't determine any odds like betting shops - merely being a marketplace to connect derivative buyers to derivative sellers.
Would I need a license? If so how much would an app-based license approximately cost at the launch of the app and subsequent years?
Please advise,
Regards,
