FACTBOX: Data on sports stock market website
CHICAGO (Reuters) - OneSeason.com, a day-trading website where sports fans, traders and gamblers can invest real money in stocks representing U.S. athletes, teams, leagues and other sports personalities, launched on Wednesday.
Some facts about the site:
* Adults can open an account for as little as $10, but the amount a user can transfer into the system for any 12-month period is capped at $2,500.
* Users can cash out at any time, just like investing in stocks on the New York Stock Exchange.
* Initial Player Offerings, or IPOs, on OneSeason.com will be priced at $5 a share, with volume determined by demand. IPOs will come out at the rate of three a day, five days a week, at least initially.
* IPO shares will be allocated on a first-come, first-serve basis (70 percent), as well as based on time spent on the site (15 percent) and trading activity (15 percent).
* Shares automatically split when they close at $20 or more, and reverse split when closing at 50 cents or less.
* OneSeason's market research suggests early adopters will be men aged 18-34, with an account size in the range of $100. However, as the fantasy sports industry has an older, wealthier demographic, the company expects those figures to get respectively older and larger as the website matures.
* The San Francisco-based company, which employs 14 people, was founded in June 2007. Testing on the website started in January 2008.
Source: OneSeason.com.
(Reporting by Ben Klayman; Editing by Steve Orlofsky)
