Social Betting app: Lets build this, join the conversation if interested

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So, this Thread is based on comments on my previous thread here The Castle in the Air, or Why Startups should really innovate - #4 by Il3ri

I am also attaching a pic from my linkedin inbox, so you wouldnt think I am trying to copy mypaddybet

bet.PNG1243Ă—780 183 KB

So, I call it the stakeholder project. consumer technology platform that allows n anyone, anywhere, anytime to place a bet on anything, about anything backed by money as the stakes with their friends or any supporter or opposer, all managed by the site admin, and the bet creator and opposer nominated stakeholder, who will be responsible for monitoring the outcome of the bet claim/event, and confirm if it is true or false, getting a cut out of the winners payout as a reward for his efforts.

This platform will cater to sports enthusiasts, college students, young professionals, or anyone seeking a simple and engaging way to place a wager on anything and everything, It is a way of putting your money where your mouth is.

The social networking aspect will allow fans to wager against, communicate with, and refer each other to create a Social Betting Exchange.

Users will have ability to select or create any event for personal betting or customize wager groups to create unique betting mixes, all backed by cash stakes, administered by the site admins,and monitored by appointed stakeholders.

Now, because on-line gambling laws in the Nigeria makes it possible to offer real money betting in which a transaction is processed over the stakeholder site or app, this will work.

The target market is worldwide, since the site is technically registered in a Country that permits on-line gambling. Users can register, create bet events, make claims, back the claims with cash stakes ( Through paypal, debit or credit cards, bitcoin and other payment means), make the event open to the public, or to a select number of people, send invites via twitter, facebook, linkedin etc for people to support or oppose the bet, all backing their claims with cash stakes. once the listing time runs out , the event becomes closed to further participation,and the countdown begins, by this time stakeholders from both sides of the divide are appointed, who monitor the event, they are not permitted to bet, but they will coshare part of the winners payout.

The monetization plan is to take a cut from the winners payout, as the prime stakeholder. The event stakeholders will now get a particular percentage of this Cut we took. In that way, all the regulators get paid.

Let me know your thoughts.

Lets build this, If interested let me know.

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Thats the basic premise.

The Final app should have a buffer like possibility, where you ll be able to create and bet on bets directly from your twitter and facebbok feed, or with your followers.

If we can adda Buffer type feature, or sni.ply type feature to make this possible, beautiful.

An MVP of this concept can be built using facebook’s event creation app model…

Then integrate paystack, or a direct to mobile billing payment service…

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i mean https://snip.ly/

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There are a million more purposeful things to do with the short time we have than to help jobless youth become more jobless.

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Have you guys seen www.mypaddybet.com? … I think you should check it out.

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Yea, I have seen it…the execution is different.

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Begin.

The purpose thing again.

I happen to philosophize a lot. but I actually have a hard time defining what a better purpose is. In the grand scheme of things, every purpose or great purpose Humans think they have is actually pointless, totally meaningless.

Solutions are not meant to fulfil more purposeful things. Solutions are meant to fulfil a Purpose that someone is ready to spend money to actualize.

If a lot of people are ready to pay to actualize a specific purpose, they represent a market to me.

If that market is large enough, providing a solution becomes feasible.

I do not hanker after more purposeful things.

I simply provide solutions to actualize PURPOSES.

Saying something is more purposeful or not is equivalent to opening yourself up to arguments and moralizing that wastes useful time. If creating an iphone is more purposeful than creating the Coca-cola, it is not my business. My business is is the creation solving a pain point?..yes, are there enough people who can pay for it…?..yes, then thats fine by me.

End of rant.

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It’s a values thing. If you don’t understand, never mind.

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Its a Solutions thing, since you don’t understand, I don’t mind.

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I don’t think mypaddybet could have picked a worse name, considering paddypower is an authority domain that will block their search presence for at least one year.

and @alpontif you will learn that rule number one of owning a betting platform is not to speak about owning a betting platform. It only serves to attract moralisers and those sore losers who use your platform might also try to hunt you down.

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Noted. Will not make the mistake.