Trader Games is an innovative online platform providing games based on the real-time market movements of financial instruments.
The service (www.tradergames.com) is provided by BETDAQ, a licenced bookmaker operating in the UK. Funding was provided by IIU in Ireland. Dermot Desmond, a well-known Irish businessman with interests in Manchester United, London City Airport etc., was the project champion.
Trader Games is a members-only portal, where users can play a variety of games. Entry fees range from GBP 20 to GBP 250 and prizes are paid to winning players at 95% of entry fees.
A variety of game styles are offered - Queue-and-Go, Scheduled Games and Private Games. Game play consists of virtual trading of financial instruments at current, real-time market prices. A suite of standard financial trading tools are available to players - Take Profit, Stop Loss etc. The object of the games is to maximise Profit and Loss (P&L) within the constraints of the game rules. A sense of realism is provided by the use of Trade Limits (maximum exposure) and Overall Stop Losses.
Currently two variants of game are available. In the Classic Game the duration is fixed (2 hours to 2 weeks) and the winner is the player with the best Profit and Loss at game end. In the Sprint Game, the winner is the player that first reaches a pre-determined target P&L.
In the pilot phase, games are based on the Foreign Exchange markets (FX). Shortly, other instruments will be introduced, such as Equities, Indices etc.
My involvement in the Trader Games project started just prior to the original soft launch and was concerned with the refinement of the concept during the pilot phase.
The following tasks and activities were included in my remit
The project is currently (Apr 2007) concluding a successful pilot phase and - subject to investor approval - will shortly be launched fully.