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Rapid Bet
Mission: To be the market leader in social betting.
Contacts:
Douglas McCafferty, Founder
[email protected]
Status of Product:
Betting Platform is developed with pat pending
betting engine, includes proven secure mobile
wallet, CRM, banking and integrated mobile
advertising solution. Platform took three years
and over $4.5M to develop.
The Product: Rapid-Bet is very analogous to Snapchat and Instagram in that the products are
To become the market leader in fast growing social gambling market by providing social
viral in nature,
have superior
user interfaces and facilitate social networks and relationships
networking
properties
for Gambling
with other players. But instead of sharing pictures and messages we share bets with friends,
family and other invited players with similar interest and networks.
The difference is our products allows players the ability to socially bet using currency, (virtual
and real) while enjoying all the fun, excitement and banter of betting with friends, family and
peers. Rapid-Bet can be easily localized and will legal and licensed for each country we market
the application in.
The Opportunity
Use of Funds:
 Core product is developed, funds are needed
to productize offering and launch Q2 2015
 Customer aquisition
 Expand engineering and marketing team
 Acquire Betting Licenses for key countries and
to localize for strategic countries.
Revenue Model
 Fees collected from bet made by players
 Fees from sending promotion & coupons via
integrated mobile campaign app
 Break even 2016
 Detailed revenue forecast available for review,
Competitive Advantage
 Manages the entire betting flow using currency,
points or future commitment.
 Allows players to bet on any outcome, topic or
event, using mobile or web.
 Designed to be simple to use but will have
strong interest by social media users, sports
fans, friends and family.
 Has pat pending algorithm for self-arbitration
used in the betting flow.
 Platform supports multiple currencies and
languages, mobile wallet proven and secure
 Integrated promotional app for coupons
 Bets can be set up and completed in less than a
minute or to complete at a time in the future
set by bet initiator
 Has interest to a wide range of age groups and
demographics, “True World App”
Countries: Over 70 countries allow some form of on-line or sports betting. These numbers will
continue to grow and more countries and states, look for new revenue to offset tax shortfalls.
Social Gambling: Morgan Stanley reports that 1Bm or 13% of the world’s population participates
in social gamming monthly.
The worldwide sports betting industry is worth between $700 billion and $1 trillion according to
Sportradar.
The European Gamming and Betting Assn. Estimates that between 50-70B bets are made on
sports each year with 85% of these bets being un-regulated.
Problems Solved: Rapid-Bet provides a unique social betting experience that will expand the
market by allowing anyone with a mobile devices the ability to bet using virtual or real currency.
Rapid-Bet user can bet on any outcome or event, determine the bet amount, with whom they
want to bet and which bets they will accept.
Players who bet using regulated sites must choose from a limited number of bets with the odds
determined by the gambling site. In many cases these bets are designed to give the house an
advantage and do not provide real time betting nor the ability to allow players to bet on events
that are of interest to them and peers. With Rapid-bet players can bet on a far wider range of
outcomes that give players a better chance of wining that in turn increase participation, brand
loyalty and ARPU.
Many social gamblers like to bet on local events with peers such as a local game of golf or when
watching their favorite sports team. Rapid-Bet provides these players with the only solution
where the players know the funds are in place prior to sending or accepting the bet and that the
funds will be arbitrated and distributed once the bet is completed.
Because the players determine what they want to bet on the product is perfect for players in
countries like India, France, Italy, Japan, Brazil… Players using Rapid-Bet can now bet on sports
events and topics specific to those countries in their language using their currency.
Legality: Because Rapid-Bet does not determine or set the bet, we are not liable to cover or
make payouts. What we provide is a means for players to bet with real or virtual currency and
insure funds are in place for each bet prior to sending or acceptance of funds to wining parties.
Our goal is to research each country and clearly understand the laws and provide a legal version
for that country that is localized for that language and currency. This allows players to bet on
events and topics that are important to them and knowing the bet and payout are legal.
Revenue Model:
Targets for 2015
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Release Early Q1 2015
Partner with key Social & Sport sites
Develop Advertising campaigns
Brand Awareness
United Kingdom, Canada, France, Japan, Italy
and Hong Kong…
Current Team:
-Doug McCafferty, Founder acting CEO
-Sanjay Lall, Founder
-Sean Phinney, COO
Revenue is generated from transactions fees associated with each bet
placed or the virtual currency purchased. Rapid-Bet will also generate funds by sending
targeted preference based mobile coupons using our integrated mobile advertising program.
Revenue numbers are available and we expect to be profitable by 2016 with retained earnings
of over $150m after the third full year of operations.
Got to Market: the first two countries we will release Rapid-Bet is the UK and Australia. We
will target players that bet regularly at bet shops and on-line, while also promoting to players
that bet socially with friends and peers. We will use print, radio and social media, including
Twitter and Facebook, to market our social networking products. The next set of countries will
also be European and include France, Spain and Italy. A virtual currency version will be
released in the US and CA in 2015.