Robinhood Expands Event Contracts with Parlays and Player Prop Bets
Robinhood Markets Inc. (NASDAQ: HOOD) has announced new additions to its prediction markets, also known as Event Contracts. The update focuses mainly on US pro football. It adds parlay-style combos and player performance contracts. It builds on what the company calls its fastest-growing revenue product to date.
Prediction Markets
Robinhood launched prediction markets at the end of last year. Since then, more than 1 million customers have traded around 11 billion contracts. The company has been expanding the number of available contracts and the tools used to trade them based on customer demand. Recent upgrades already include limit orders, dollar-based trading, 24/7 access, a live sports contract hub, and thousands of listed events across sports, economics, politics, and culture.
Preset Combos for Pro Football
Robinhood is introducing preset combos, commonly known as parlays. These letcustomers trade multiple outcomes within a single pro football game, such as spreads, totals, and results combined into one contract.
Each combo pays $1, but only if all included outcomes resolve correctly. It gives traders a way to express more detailed views on a single game using one contract.
Custom Combos Coming Next
The company also confirmed that custom combos are planned for early next year. These will let customers combine up to ten outcomes into one contract across pro football games. Thus, will offer more flexibility and control.
Player Performance Contracts Now Live
Starting now, Robinhood users can trade player-specific contracts. These include real-time tracking of individual player outcomes such as anytime touchdowns, passing yards, receiving yards, and rushing yards. Robinhood said player contracts for additional sports will roll out soon, expanding beyond pro football.
About Robinhood
Robinhood has a commission-free trading model. It provides an intuitive mobile app. The platform supports trading in stocks, ETFs, options, and cryptocurrencies without any commission fees. It offers unlimited commission-free trades on stocks, ETFs, options, and cryptocurrencies. It also offers fractional shares to invest in high-priced stocks. Recently, Robinhood entered Indonesia by acquiring local broker PT Buana Capital Sekuritas and crypto trader PT Pedagang Aset Kripto.
Summing Up
Robinhood is clearly doubling down on prediction markets as a key growth driver. The addition of combos and player contracts adds depth without complicating access. Event contracts are becoming a more central part of the platform with strong early traction.
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