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Frequently Asked Questions

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Q: Why do I need an application?

The application is in no way related to the sportsbook aspect of Gamepick, instead, it is required to invest funds.
Opening a brokerage account typically involves a process of verifying your identity, and financial information, and ensuring compliance with regulatory requirements. The application serves several purposes, including:
Regulatory Compliance: Financial institutions, including brokerage firms, are subject to various regulations designed to prevent fraud, money laundering, and other illegal activities. The application process helps the brokerage comply with these regulations by collecting and verifying your personal and financial information.
Customer Identification: Brokerages need to confirm the identity of their customers to ensure that they are not engaging in any illegal or fraudulent activities. This is typically done by collecting personal information, such as your Social Security number, date of birth, and address.

Risk Assessment: Brokers need to assess the level of risk associated with each customer to comply with financial regulations. This involves evaluating your financial situation, investment experience, and investment objectives. This information helps brokers recommend suitable investments and services based on your circumstances.

Account Security: The application process helps set up the necessary security measures to protect your account. This may include the creation of a unique username and password, as well as additional security features like two-factor authentication.

Disclosure and Agreements: Opening a brokerage account involves agreeing to various terms and conditions, including fee schedules, account rules, and legal disclosures. The application process ensures that you are aware of and agree to these terms before starting to trade or invest through the brokerage.

Communication and Documentation: The information collected during the application process serves as a record of your agreement with the brokerage. It also provides a means for the brokerage to communicate with you regarding your account, transactions, and important updates.

Comprehensive Service: The application process allows the brokerage to tailor its services to your specific needs and financial goals. This customization helps provide a more personalized and comprehensive experience for each customer.

While the application process may seem cumbersome, it is a necessary step to ensure the integrity of the financial system, protect customers, and comply with legal and regulatory requirements. It also helps brokerage firms provide better-tailored services to meet the unique needs of their clients.

Q: How are my investments determined?

When you complete your investment application there is a risk tolerance questionnaire used to assess your willingness to take risks. There are questions about investment goals, time horizon, financial situation, and comfort with potential losses. Based on the responses, a risk profile is generated to guide investment recommendations.

Q: How are my funds invested?

Based on your risk tolerance from above, your funds are invested in one of five portfolios. Aggressive, Moderately Aggressive, Moderate, Moderately Conservative, and Conservative. For more information about our investments, see the investment disclosure page.

Q: What is an RIA and how is this different from other financial professionals?

A Registered Investment Advisor (RIA) is a professional or firm that is registered with the Securities and Exchange Commission (SEC) or state securities authorities. RIAs provide personalized financial advice and investment management services to individuals, families, and institutions.
RIAs have a fiduciary duty to act in the best interest of their clients. This means they are legally obligated to prioritize their clients’ interests ahead of their own. Unlike some other financial professionals, RIAs do not earn commissions on financial products they recommend, fostering a transparent and client-centric approach.

Q: Why does Gamepick use Double I Investments (RIA)?

Choosing an RIA ensures you receive advice tailored to your specific needs and goals. As fiduciaries, RIAs are committed to providing unbiased guidance, and their compensation structures are typically based on a percentage of assets under management, aligning their success with the success of their clients.
RIAs are regulated either by the SEC or state securities authorities, depending on the size of their assets under management. This regulation helps ensure compliance with industry standards and provides investors with a level of protection

Q: Why does Double I Investments use Interactive Brokers?

Interactive Brokers is a custodian. A custodian is a financial institution that holds and safeguards the assets of clients, ensuring that they are separate from the assets of the investment adviser. The use of a custodian serves several important purposes:
Asset Protection: It helps protect clients’ assets from any potential misuse or misappropriation by the investment adviser. The custodian adds an additional layer of oversight and security to ensure that client funds are used for their intended purposes.
Transparency: Having a separate custodian enhances transparency and accountability. Clients can independently verify their account holdings and transactions with the custodian, which adds credibility to the advisory relationship.
Compliance: Regulatory authorities often require RIAs to use a qualified custodian to comply with investor protection regulations. This requirement is intended to safeguard the interests of clients and maintain the integrity of the financial system.
Prevention of Fraud: The use of a custodian can help prevent fraudulent activities such as Ponzi schemes or other unauthorized use of client funds. The custodian’s independent role helps detect and deter fraudulent activities.
In the U.S., the Securities and Exchange Commission (SEC) or state securities regulators typically oversee RIAs, and they often require RIAs to follow certain custody rules, including the use of a qualified custodian.

Q: Why is there a monthly fee?

RIAs typically charge fees based on a percentage of assets under management (AUM). This fee structure does not align with Gamepick’s mission of encouraging people to invest more of their funds. This also provides an affordable and simple-to-understand fee structure.


Q: What is a diamond on Gamepick and how do I get more?

Diamonds are the currency used on the Gamepick website.  Unlike traditional sportsbooks, you make bets using diamonds. You will receive 100 free diamonds upon registering. If you are running low on diamonds and want to replenish, initiate a transfer to your brokerage account. You will receive one diamond for every dollar contributed to your brokerage account.

Q: What happens to my money when I make a transfer?

Every time you initiate a transfer into your portfolio account, your money goes from your bank account directly to your IBKR portfolio account. No other entities touch your money. Once inside your IBKR portfolio account, Double I Investments manages the portfolio according to your risk assessment.

Q: Is there an age restriction?

To register for and play Gamepick, there is not age restriction, keep in mind that once your diamonds are gone, there is no replenishing them. However, in order to open a brokerage account and begin investing you must be at least 18 years old.