I don’t know why I gave these people a cent. Big mistake.
The business model doesn’t even make sense. Where are they getting the money to pay out dividends? How does this app generate money? Through fees? OK, best case scenario for these developers, this app gets millions of downloads with tens of millions of transactions per day. Wouldn’t that just drive up the price of a team to be so astronomical that the dividend payout wouldn’t even be worth it? A good team now will run you about $40 per share. Say it’s an NBA team. You get $0.10 per win. So you’re paying $40 to make 10 cents. Now imagine there’s millions of actual users and the price gets driven up to $100, $200, $500 per share??? Nobody in their right mind would pay that type of money, even if the team goes 82-0, you’re better off putting that money in a savings account at 1% interest.
I played around for like 6 months and made around $40 on my initial $170 investment, counting both what I made in dividends and “share value increases.” When I go to withdraw my $210ish, they say the max I can withdraw is $170, minus processing fees. Great, OK, whatever, fine, just give me my money back, oh wait, the app crashed (like it always does) and now it says I have insufficient funds in my account to make a withdrawal.
This is terrible app design at best and fraud at worst. Don’t be stupid like me.