With the Circa Survivor contest down to 660 entries from a record 25,017 starters, Survivor Sweat is providing a secondary market where eliminated participants can monetize their remaining equity and buyers can purchase a piece of the $25 million prize pool. The Las Vegas-based platform, now in its fourth season, recorded its biggest sales week yet during NFL Week 7 and has facilitated more than 500 transactions this season alone.
Recent listings show the implied value of each surviving entry at $37,905 entering Week 8, with individual sales reaching $44,400 for 100 percent of an entry and $18,900 for a 50 percent stake. Sellers set prices based on implied value and which NFL teams they have already used, since contestants can select each team only once per season.
The marketplace serves more than just eliminated players. Co-founder James Sullivan said active contestants frequently purchase shares or pick control of other entries as a hedge on their own surviving tickets. "We've seen lots of instances where active players in the contest are purchasing shares and even pick control status of other entries," Sullivan said.
Survivor Sweat charges a 10 percent transaction fee paid by the seller, which covers brokering and legal contracts. Both parties have 24 hours to review and sign before shares or pick control are transferred. Circa Sports named Survivor Sweat its exclusive marketplace in late September, extending the platform to the Million and Grandissimo contests as well.
Sources: Las Vegas Review-Journal
Original reporting: Las Vegas Review-Journal →
English (US)·