Startup idea: making $7,000/month with a sports betting platform

[jesrdking]

I found a completely bootstrapped business making $7,000/month with a sports betting platform. The platform is a suite of tools designed to better the fantasy sports and sports betting experience for fans. The platform gives you cheat sheets, prop analysis, player injury updates, matchup data, etc.

I’m not personally familiar with the sports betting industry, but I’m a sucker for data analysis, so this listing definitely caught my eye. I know the sports betting industry has been blowing up, now with 38 states allowing some sort of sports betting. That means this industry will only grow in the United States moving forward.

I’ve also noticed there has just been a general increase in degenerate gambling in society as a whole. People love trading speculative stocks, flipping NFTs, and betting on sports. I think this shows a general interest in gambling behavior, which will be beneficial to the sports betting industry.

The listing mentions that the business grew from 0 to 6k MRR in 4 months. The current price point is $4.99/month, which seems low to me. I think there’s definitely an opportunity to increase the price point. I personally think 5$/month is too low for any software, and not even a worth it price point. But that’s a different story.

Outlier is an example of a competitor. Outlier seems like a very sophisticated platform. Something I found interesting is that they have an “Education” section. I can see this turning into a paid vertical in the business. The same approach can be applied to the business currently listed on sale.

With that being said, I can see some drawbacks to running a business in the sports industry.

Firstly, the industry is ripe with scammers and con artists. There are lots of influencers selling picks and promising returns, giving the entire industry a bad rap.

Another difficulty pertains to advertising in the niche. I am not familiar with all the rules, but I imagine there are a lot of restrictions on advertising sports betting on social media. There are also lots of age and location restrictions.

The business is currently for sale for $150,000.

tl;dr: The betting industry is extremely lucrative, and there are lots of opportunities to build a business without building a sportsbook.

p.s. I write a weekly 5-minute digest about online businesses (like this one) selling for life-changing amounts of money in my free newsletter, Startup Sphere.

 

[huffnpuff]

@jesrdking So how do I read more about this company. I'm already working in this sector and interested in learning more about this opportunity. Drop me a dm

 

[animore]

@jesrdking Working in this industry for about 2 years now (marketing)
if you have any questions, DM me

 

[dailyjob]

@jesrdking You could also partner with a company that provides counselling for gambling addiction.

 

[matteus]

@jesrdking Betting and gambling, Godless work. The value the business generates is from psychological tricks to get people to spend, and then loose money. The better you are at doing this manipulation, the better. Is this really what you want to be in?

 

[ania]

@matteus

The value the business generates is from psychological tricks to get people to spend, and then loose money.

As opposed to pretty much every other business in the world?

 

[matteus]

@ania Influencing people to spend is key to other businesses yes, but all other businesses you at least receive something of value in turn. Gambling is selling luck, or rather an artificial version of luck, to get people to literally roll the dice and gamble in a simulation that puts them at odds to lose. An innovative betting company is one who can get people to play their fake game of luck. The only thing you receive in gambling is the risk rewarded with it, as a sort of dopamine high, yet, it is purely fabricated and against your free will. It is worse than the drug industry because at least you actually buy a real substance that gives a real high with a real risk associated. It is worse than the sex industry because you still satisfy people in a fair way. With gambling you only receive something negative: odds of winning that are not in your favour. Gambling is the most diabolical industry on earth and you cannot convince me otherwise.