We’re always looking for new opportunities here at SIG. The list of products that we trade continues to grow all the time: equities, index futures and ETFs, bonds, commodities, currencies (crypto or otherwise), options on all of those, sports…. wait, sports!?
Yes, sports! SIG has been building a team of traders, technologists, and researchers to bring our quantitative, technology-driven approach from the financial world to sports betting and analytics. Now 25+ people across our Dublin and Bala Cynwyd offices, the SIG Sports team is already trading and market making in the major American sports (NFL, NBA, MLB, etc.) on European exchanges, both pregame and in-running. In the US, we are building up capacity to be an important player as the sports betting industry grows and legalization spreads throughout the country.
So why would we do this?
We love sports
It’s Philadelphia, where sports fandom is practically mandatory – home to the most passionate and knowledgeable fans (for better or worse) in the country.
Our skills transfer
A lot of the things that drive our competitive edge in financial markets transfer straight over to sports markets. High-quality quantitative models and our technology providing timely and accurate data to support our traders as they make quick decisions under uncertainty works whether we are buying and selling an index fund or a NFL future.
It’s a big opportunity
Since May of 2018, when the US Supreme Court opened the door to the States to legalize sports betting, the sports betting market has exploded in size, and will continue to expand as additional states legalize sports betting in the coming years. Some estimates have the size of the total US sports betting market as high as $150 billion, so there’s a big opportunity if we can capture a piece of that.
Over the coming months, we’ll be publishing content from time to time relating to our sports research and trading right here on Raise Your Game, and over on SIG’s Instagram, @sigcampus. Posts will range from bite-size stories about amusing or intriguing situations all the way to detailed analysis of modeling issues. Make sure you’re subscribed here and following us on Instagram – stay tuned!