“SportsPredict” Web Application
This project is for creating a cross platform mobile application that is similar to Predictit.com. It provides a platform for a sports prediction market instead of politics. The app will allow users to invest real money in shares of an event. They will test their knowledge of sporting events by making and trading predictions on the future of sport-related activity. We require support for iOS, Android, and a responsive web app. They need to share the same back-end database and consume the same RESTful web services. The UI for the web app should be built with Bootstrap 3 or 4.
Company administrators will be able to manually post sporting events that will automatically be posted with a set number of shares. Events will be tied specifically to the start and end date of the live sporting event. This will be done automatically based on the official website of the sport in question. For example for National Football League (USA); based off nfl.com. Initial development to include three sports (MLB, NF. Others to be estimated for integration.
Starting price for "YES" (default $.00)
Starting price for "NO" (default $.00)
Last Transaction Date (default end of event date)
First Transaction Date (defaults to time event is created)
From the point of accepting transactions until the completion of the event, investment transactions are allowed for "YES" and "NO" prices for each criteria. Users must create an account and purchase these "shares" through a secure payment processor which will be the responsibility of SportsPredict.
Once shares are purchased, shares cannot be refunded; only sold to other Users. The share "price" will start at a zero value, but over the course of the event and before, the price will fluctuate for "YES" and "NO" based on the ongoing progress of the event. The application will automatically adjust the price of "YES" and "NO" accordingly, and automatically.
No one needs to own shares before shares can be offered. You simply state that you would like to buy shares at such a price and others will buy them (by making a “Buy offer”)
For example, the market will go up. John Doe says “i think that's worth 20 cents on the dollar for a “yes” vote and he wants to get 100 shares. He enters into the system that he wants to buy 100 yes shares for 20 cents each.” Jane Doe says “i like those odds and buy those shares”
At any point a User can buy or sell his/her shares, or additional shares from other Users at any price they themselves define. Depending on the trading of a particular proposition, the site will automatically update and show how much movement (shares going up or going down) there has been in last 24 hours.
Payments will be processed automatically and securely through a third party. This cost and service management will be the sole responsibility of SportsPredict.
Payment Event Triggers:
Website will take a 10% flat fee on every net GAIN trade. This happens when a trade is:
exited manually (by the user before the given event has ended) OR
exited automatically when the ending of an event results in a net GAIN trade for the user
No fees will be taken on net LOSS trades
Website will take a 5% withdrawal fee for EVERY withdrawal from the site
No minimum withdrawals or length requirements for keeping funds deposited
Support & Maintenance
Management of application performance.
Overseeing feature requests, enhancements, errors, warnings and bugs.
Maintenance and management of AWS services (EC2, S3, ELB, AutoScaler, Route53, etc)
Custom REST API Web Service for all transactions
A functioning web application
Bootstrap 3 or 4 UI
Any notes or documentation that would be useful for further development
Compatible with IOS 9 or 10
Compatible with Android 6 or 7