Interactive Brokers (IB), a direct rival to TD Ameritrade and one of the firms that also recently eliminated client commissions, made its own foray into the sports betting space earlier this year.<\/strong><\/p>\nIn July, IB unveiled a simulated sports betting exchange where wagers are quoted like stocks, with a bid and ask price. For example, in a hypothetical NFL game involving an excellent team, say the New England Patriots, and a poor team, such as the Miami Dolphins, the Patriots could be bid at $69 and offered at $70 prior to kickoff, while the Dolphins could be bid and offered at $30 and $31.<\/p>\n
As the game goes along and one team’s odds of winning increase, so do its prices in the IB market. The IB game is played in increments of virtual $100. Real money isn’t at stake, but winners can receive up to $1,000 in commission credits.<\/p>\n","protected":false},"excerpt":{"rendered":"
TD Ameritrade Holding Corp. (NASDAQ:AMTD), one of the largest discount brokers, could turn to sports betting to bolster revenue after the company and its rivals recently shifted away from commission-driven models. Chief Information Officer Vijay Sankaran sees potential synergies between the trading and fantasy sports businesses. We do feel like there are interesting analogs in […]<\/p>\n","protected":false},"author":46,"featured_media":119790,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,1074],"tags":[],"acf":[],"yoast_head":"\n
TD Ameritrade Could Get Into Sports Betting to Boost Revenue<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n