Mojo Offers Unparalleled Real-Time Liquidity Across All Bets / New Sports, New Athletes, New Bet Types Lead to Record Month in March
NEW YORK, NY (April 5, 2023) – Mojo: The Sports Stock Market, completed its sixth month of operation in March. During the past month, Mojo significantly expanded its offerings by introducing new sports, athletes, and bet types — combining the liquidity of capital markets with the excitement of sports.
Mojo’s unique bet offerings have grown to include the only career bet on college and professional athletes, as well as traditional player prop and moneyline bets. Mojo introduced the following bets in March:
The aggressive expansion accounted for the highest monthly total of trades opened in Mojo’s history — exceeding the previous monthly-high by 50%. Additionally, users who made single-game prop bets spent an average of nearly 90 minutes per day in the app — the highest monthly average in company history. More than one-third of those customers opened multiple positions on the same bet, implying that users are trading in and out of their bets the same way day traders invest on the stock market.
“Building the most entertaining live betting experience requires amazing liquidity and an incredible UI that allows customers to monitor their bets and make decisions in real time,” said Vinit Bharara, Mojo’s CEO. “When a customer makes a bet with Mojo, they will always know the fair market value of their bet and can frictionlessly trade in and out as the momentum of the game swings.”
Mojo currently offers bets across four leagues (NFL / NBA / NCAAF / NCAAMB) and has plans for future expansion with Major League Baseball offerings later this month. Mojo has also introduced new payout styles that range from traditional all-or-nothing bets to Call/Put Options that create high-risk, high reward bets that are similar to options on the stock market.
Mojo has raised over $100 million to date from both institutional and angel investors. This includes Alex Rodriguez, Marc Lore, Thrive Capital (which led Mojo’s $75 million Series A), Tiger Global, Fin Capital, and Courtside Ventures, as well as the NFL Players Association, The Chainsmokers’ Mantis Ventures, Chris Rock, Gary Vaynerchuk, Michael Kives, Jason Derulo, Jack Abraham, Morris Bailey, and others.
To learn more about Mojo, please visit https://mojo.com/learn
For more information:
Chris Tropeano | Chris.Tropeano@mojo.com (718) 986-8156