QUESTION – Thank you for taking the time to participate in the Q & A session. Before we start in detail. Would you like to share with everyone who may not know, who you are, what you do, where you live and what exactly is BallStreet Trading and how it has very good synergy with the trading industry?
SCOTT – Really excited to be able to get introduced to your audience. My name is Scott San Emeterio and I am the CEO and Founder of BallStreet Trading. I live in New York, New York and have spent the last 15 years in Investment Banking, specifically in fixed income trading at Credit Suisse specializing in MBS.
BallStreet is a free-to-play real-time prediction market that lets traders compete against each other as they watch any live event. What we’ve done is create a live market which lets everyone buy and sell shares of teams based on win probability. Our markets trade from 0 to 100 during the game. At the end of the game the shares of the winning team will value at 100 and the shares of the losing team will value at 0, so like a binary option. The goal is simple, create the best trading P&L during the game.
The synergy we’ve created is taking the best of sports and the best of trading and bringing them together. Who hasn’t thought about trading a live game? For anyone who loves sports and trading BallStreet should be a great addition to any game.
QUESTION – Why should traders consider joining BallStreet Trading and what does a typical member look like that they would be competing against. Now is a good time to introduce this unique marriage of trading and sports to the social media masses
SCOTT – I think sports, sports betting and trading are worlds that are begging to be brought together. Traders who love sports should really enjoy the platform. We’ve gone our of our way to take the best of trading and remove all of the potential distractions that come with trading markets to really simplify the experience. Our approach is more of a video game and not your typical trading software which leads itself to be more Xbox than Bloomberg. Our priority is to make the market entertaining.
Our traders range from professionals who trade everything from derivatives to commodities to college students who are looking to try out the newest sports app. The markets and our pricing of team shares is driven solely from our traders as they compete against each other and prove their ability to predict and trade the game flow. There is no hiding in our markets, everyone has the same information and ability to buy and sell in real-time.
QUESTION – Shifting away for a second from your company. What failure or setback in trading have you experienced that has set you up for latter success? I understand you do have a background in Investment banking?
SCOTT – I spent the last 15 years in investment banking with the last 13 at Credit Suisse working primarily in fixed income. I started at CS in 2005 working in MBS and spent 2007-2010 working on their Sub Prime desk, so the perspective I was given with a front row seat during the crisis is something that has stayed with me.
Those days had a little bit of everything from Credit Suisse’s $3B write down to TARP, Lehman and Bear, I was there watching this all play out in the markets everyday. Looking back you get both the experience of what that time taught you but also the perspective of the destruction the crisis caused on so many levels.
To be that close to the chaos and watch what it did to both my career and countless other people’s careers was a major driving force in exploring options away from financial services and ultimately BallStreet.
QUESTION – Outside of trading and sports, what strange or unusual habits do you have and enjoy? What are your goals if any both in life and for BallStreet Trading (future IPO, etc)
SCOTT – I spent a good 3-4 years playing online poker almost everyday back during the boom in the early 2000s which definitely helped create the blue print for BallStreet. Living in New York I don’t get to play as much as I used to but still get to play in a couple home games and city clubs when I can. My wife and I just had our first child in July so with everything going on poker doesn’t get to the top of the list too often anymore.
As far as the goals for BallStreet, right now the focus is directly on scaling our user base and introducing it to as many potential traders as we can. We are building a platform that will look to engage and entertain sports fans on a different level and leverage it as a marketing tool that will bring fans and viewers into the ad model. Brands spend billions of dollars to get exposure during live events and broadcasts but the fans don’t see any of it. We’ve created a system that invites brands to engage fans during these live events in real-time but also welcomes fans to be a part of the process by using the ad spend as the prize pool. It’s a system were everyone wins.
If we can accomplish developing a unique market experience and leverage it as a marketing platform I think for us sky is the limit and anything is possible, even an IPO.
Ideally over the next year we can scale and attract investors who share our vision for the platform and can look to make us a national brand and eventually build out our real money business model. Imagine traders paying a $100 entry fee and if their P&L is inside the top 20% they win $500. All from trading sports.
Once we pull that off, if you need me you can find me on a vineyard in Portugal or Spain.
QUESTION- What is one trait that you are currently working on in personally improving in yourself?
SCOTT – I’m definitely a big picture and idea person. Everyday I try to focus more on specific tasks and really look at the details of what drives my decision process and how I can get better at spending the appropriate amount of time to consider all possible angles and outcomes. Sometimes I can get caught up on getting to the next task without giving an issue the attention it deserves.
QUESTION – What advice would you give to your younger self? (as we have many young adult viewers of these interviews)
SCOTT – Other than stay out of MBS? I would have to say that everything you do today will ultimately drive how your future is formed. Take the opportunity when you are young to leverage the time you have to make as many good decisions as you can because they all add up over time. It doesn’t matter how small, just make good decisions and they will lead you where you want to be.
Another key to the psychology of the trading world is that most of us are here to make money. It’s not a surprise and people should own that. The concept of money is something I wish I could go back and give myself some advice on. Money’s true value isn’t material. Money’s true value is in the freedom it can afford you when you can buy your own time.
QUESTION – What good & bad advice do you hear often in trading, sports betting AND life?
SCOTT – I think here are so many parallels across them all and the best advice is usually the most simple, just be disciplined. The more disciplined you are the better you can expect your outcomes. Be disciplined; have a plan, have a bankroll management system and a clear and defined goal.
As far as bad advice…don’t bet baseball because you’re a Yankee fan. Just because you’re a sports fan doesn’t mean you should be betting sports! The two have little if anything to do which each other. It’s the same with markets, don’t buy Apple because of some news you heard on twitter, there are so many factors in play in the market. Understand them and have a plan when making decisions.
QUESTION – What are your favorite books to read and why?
SCOTT – I love books that I can learn from. I just got finished reading David Meltzer’s “Game Time Decision Making” and thought he did a great job outlining how people should be approaching life and business using sports metaphors to really articulate the points he was trying to make.
QUESTION – When you have lost your mojo or focus , what do you do to get back on track?
SCOTT – I have admittedly been trying to be more mindful and bring meditation into my life. It’s not always easy to find the time to build new routines and it’s something I am definitely trying to do but admit haven’t been able to do as much as I would like.
QUESTION – If you could have a big billboard with your favorite saying or message on it, what would it be.
SCOTT – Stay far from timid, only make moves when your heart’s in it, and live the phrase ‘sky’s the limit’ – Notorious B.I.G
QUESTION – Thank you for taking the time for our readers to get to know you. Is there anything else you like to say or even promote? How can our readers contact you on social media.
SCOTT – We just really appreciate the opportunity to introduce BallStreet to genuine and traders. For anyone looking to learn more about the platform and our vision to help create real-time markets for any live event they can reach us via:
Home Page: https://www.ballstreettrading.com
Direct to App; https://a.ballst.co/btt
My Personal Twitter: @ballstreetceo
Would love to hear from everybody and am happy to answer any questions about finance, investment banking, trading, BallStreet or start up life.
For anyone trading on the exchange we would be beyond appreciative to hear feedback both good and bad. Our goal is to continue to update and upgrade the app every chance we get and the opinions of actual traders are the foundation we hope to build off of.
Thanks again for the time to talk, I really do appreciate it.