Online social media betting company for sale
Posted by: BeLuckyTote
Date: February 20, 2010 02:59PM
I am selling the entire company; own custom software, UK Gambling Commission license, related facebook and twitter sites. The betting site has been tested and is live online but has had not yet been marketed. This is not your run-of-the-mill casino site and is a one off opportunity. I am looking for just £40k for the lot - ready to go now.
Over to you....
1.0 Executive Summary
Beluckytote.com (BLT) is a secure, online social betting system incorporating user generated content and viral marketing.
The Beluckytote system offers users the ability to create a wager and earn commission from other users placing money on that wager.
The system utilises a two-stage validation process, which ensures that
a) user created bets are reasonable and verifiable and
b) the bet results are fair.
2% of each bet is paid to the person who validates the bet.
The marketing of each bet is conducted by the bet creator making use of a viral betting widget, automatically created by the BLT system.
Beluckytote operates what is known as a pari-mutuel or 'pooled bet' system.
Pari-mutuel betting differs from fixed odds betting in that the final payout is not determined until the wagering has closed, just before the race. The bettor does not know how much he/she stands to win at the time of placing the bet. The odds are calculated according to the number of bets placed and the amount of money in the pool.
Pari-mutuel systems benefit from a more favourable licensing fee structure in the UK
11% of each bet is paid to BLT. This is roughly in line with other tote operator margins and is within UK government guidelines.
Be Lucky Tote simply provides a virtual 'pot' into which the bets go, and then administers the pot so that the winnings are correctly distributed.
BLT has two unique selling points;
1. it allows the user to create the bet. This is achieved by the use of a unique validation process that checks each bet before it is published and also checks bet results in the case of disputes. See Appendix 1
2. it automatically creates sharing code for each bet which can be used to promote the bet easily and securely on any forum, blog or website on the internet as well as by email.
Social media groups i.e. Facebook friends
Groups of individuals, known to each other can create bets specific and relevant to that group i.e. the weight of a baby or examination results. These bets benefit from existing trust within the group. The motivation to use BLT is primarily fun and group cohesion. The BLT widget is fully optimised to integrate with all the main social media sites.
Clubs and Societies i.e. sports clubs and charities
Because users are betting against each other and not a bookmaker, the BLT system is an excellent medium for fund-raising for community projects.
Clubs and charities are safe in the knowledge that the betting fund will be redistributed amongst their members only and that the club/charity will benefit directly from the extra funds created. By creating the bet and hosting it on their own website, clubs can effortlessly promote the bet and claim the 2% commission. Cut and paste code is created by BLT which the club’s webmasters can use to quickly place a bespoke betting widget on their site.
Individuals who wish to earn a living from home can create bets and post the resulting widget on any forum on the web. This is a simple process within the reach of most Internet users.
More technical users may even create a specific blog or website just for their BLT bets.
Individuals who already have a web based following such as authors and celebrities can use the BLT widget to improve the profitability of their site.
BLT is the fist social betting site of its kind and by virtue of its viral widget; it has the potential of exponential growth.