SiGMA interviews SnapBet startup, the app that makes watching live sport even more exciting
Fenway Games is an innovative, award-winning start up, taking part in the ucoming SiGMA Startup Pitch. The company is building in-play mobile games for Sports and eSports. The company’s debut game is called SnapBet. With SnapBet predicting the future becomes a fun activity. The app provides you with an opportunity to predict what happens in next 60 seconds of the football match you are watching. SnapBet promises to add an excitement to live sport whilst competing against friends.
What is your company’s unique differentiating idea?
There are 8 key events for the player to predict: Goal, Shot, Save, Free Kick, Yellow Card, Red Card, Offside and Penalty. If your prediction is incorrect then your stake goes into the Pot for that event and grows throughout the game. If you predict correctly and your event occurs within the 60 second timeframe then you win the Pot for that event.
SnapBet is mobile only and contains many iOS mobile features. The way players place a bet is a very fun, simple, social way to engage with the game they are watching. Users simply ‘swipe’ the bet into the centre of their mobile screen. This locks in their selection down to the very second in which they make their prediction, i.e. 35 minutes and 13 seconds to 36 minutes and 13 seconds.
Millennials form an emerging user group in the industry and SnapBet provides them with the instant win and gratification they have come to expect from their mobile engagement tools. The next generation will not accept waiting a few hours to see if their bets are winners and to receive payment. They want everything right now!
SnapBet is a game that is intrinsically very scalable across other Sports and even eSports. Our Cricket game will be to predict the outcome of the next ball and is ideal for Twenty20 cricket competitions in the Asia region. We have held initial conversations with partners who own the content rights in their region for NBA and NFL. With regards to eSports, we have had a request to begin to develop a CS:GO version.
Our initial release is a free to play, social version, and our product roadmap includes moving towards a real money version shortly. This may be either a pools version, similar to the social version, with users predicting an event for say £1 per minute, or a fixed odds version. A couple of UK based bookmakers currently provide fixed odds on certain events occurring in the next minute and we have the option to integrate this to the SnapBet platform.
What differentiates you from your competitors? Specifically, what do you provide that is currently not available in the market or how do you differ from your competitors?
Our differentiating factors would be:
- Mobile – most mobile focused sports gaming product.
- Speed – quickest wins available with instant gratification in seconds.
- Simplicity – SnapBet is very similar in approach to successful mobile games such as Angry Birds and Candy Crush.
- Innovation – we were awarded ‘Game to Watch’ at ICE recently, even though we were entered in the ‘established’ rather than ‘start up’ category. We beat games produced by large studios.
- Scalability – the potential is vast across further sports and formats.
- Next gen – SnapBet is the type of game that the sought after Millennials expect and ideal for an Operator wishing to attract this market.
What milestones or tangible traction have you achieved to date?
Our key milestones are as follows:
- Investment 1 – raising money successfully from the GamCrowd network and being the first start up to achieve this.
- Investment 2 – raising money from an overseas sports media agency
- Award 1 – winning ‘Game to Watch’ at ICE despite being entered in the established rather than start up category.
- Award 2 – being awarded ‘Best Business Idea’ at the KPMG eGaming Summitt, Gibraltar 2016.
- Launching – SnapBet launched into the App Store in August 2017.
Please explain your objectives for participating in SIGMA Pitch Event.
Our key objectives are twofold; we would like to speak with potential partners and to raise our next round of funding. The partners we are looking to talk to are likely to be Operators, who are keen to attract Millennials as new customers and are keen to be seen as innovative and at the cutting edge of the gaming industry by engaging with an innovative, mobile focused, award winning product. We would also like to speak to Social Gaming partners with rights to key sporting events. In terms of investors, we would be interested to discuss the scalability of SnapBet across further Sports & eSports and the journey that will entail.