elective-stereophonic
elective-stereophonic
IPO: sports betting website and mobile app  
Please login or register.

Login with username, password and session length
Advanced search  

News:

Latest Nxt Client: Nxt 1.11.15

Author Topic: IPO: sports betting website and mobile app  (Read 2424 times)

cryptoventurefund

  • Full Member
  • ***
  • Karma: +32/-9
  • Offline Offline
  • Posts: 199
  • Please call me Mike
    • View Profile
IPO: sports betting website and mobile app
« on: January 29, 2015, 09:23:58 am »

Some of you already know me from my other venture, and my identity is public :-)

I'm thinking of a project that involves a sports betting website, with a base currency in NXT, an later on MScoins.

I already got in touch with a developer who made this : www.sportingbet.com/

https://play.google.com/store/apps/details?id=com.w111422223

I think her work is awesome!

Se told me that making a new one from scratch and adapting it to NXT is not a problem, since she has prior experience with crypto (not NXT but she'll get into it before she starts working on the project).

I believe that such a thing, and especially the mobile app as well would bring serious clientele into NXT and provide some serious cash flow.

The quote she gave me was for 500 work hours +- 100 (i think it's going to be +  ;D ), and with 12 USD per hour that would come to 6-7000 dollars in total.... so about 600k nxt.

It's an ambitious project that has great potential in my view. Plus...we have a fixed deadline.

I don't want to issue a new asset for it. I don't think it makes sense to. I would rather just do it through the existing CVF asset and blend it together with the forex, and other projects we'll be starting up. This way dividends would come from many sources, but the same asset. I wouldn't like to inflate the AE... but that's still up for discussion.

Money wise, i would also like to involve nxtinspect for escrow again, just like i did before. I would like to have them hold the shares that we will put up for sale, hold the funds raised and make the payment themselves to the developer, so this way we eliminate the trust issue.

Thoughts? Ideas? I would like to see if you are interested in investing and what you think about the idea. This would be one of the first gaming ventures of CVF (more to come) .
Logged
NXT-SBSP-BPHH-E7BR-9USXU is promoting the use of NXT in the real life, see : http://www.NXTtracker.com...
Member of TheNxtForex committee

martinyin

  • Jr. Member
  • **
  • Karma: +3/-2
  • Offline Offline
  • Posts: 68
    • View Profile
Re: IPO: sports betting website and mobile app
« Reply #1 on: January 29, 2015, 09:33:46 am »

it would be great if provide a Chinese interface, i can help to do the translation and marketing in China.

but i doubt 500 hours of coding by one person would produce a good gamble website, even if she is very experienced.
« Last Edit: January 29, 2015, 09:39:59 am by martinyin »
Logged

cryptoventurefund

  • Full Member
  • ***
  • Karma: +32/-9
  • Offline Offline
  • Posts: 199
  • Please call me Mike
    • View Profile
Re: IPO: sports betting website and mobile app
« Reply #2 on: January 29, 2015, 10:46:25 am »

it would be great if provide a Chinese interface, i can help to do the translation and marketing in China.

but i doubt 500 hours of coding by one person would produce a good gamble website, even if she is very experienced.

True, but let's not forget that she already has the platform/script/base.
Chinese is also a great idea!
Logged
NXT-SBSP-BPHH-E7BR-9USXU is promoting the use of NXT in the real life, see : http://www.NXTtracker.com...
Member of TheNxtForex committee

martinyin

  • Jr. Member
  • **
  • Karma: +3/-2
  • Offline Offline
  • Posts: 68
    • View Profile
Re: IPO: sports betting website and mobile app
« Reply #3 on: January 29, 2015, 12:13:33 pm »

make it simple and easy to use, there is a huge market out there in china.

i'll keep an eye on this project.
Logged

xiahui135

  • Full Member
  • ***
  • Karma: +15/-11
  • Offline Offline
  • Posts: 150
    • View Profile
Re: IPO: sports betting website and mobile app
« Reply #4 on: January 29, 2015, 02:41:14 pm »

I also come from china. I know this kind of bet well be popular in China, if with good promotion.
Logged

xiahui135

  • Full Member
  • ***
  • Karma: +15/-11
  • Offline Offline
  • Posts: 150
    • View Profile
Re: IPO: sports betting website and mobile app
« Reply #5 on: January 29, 2015, 02:54:10 pm »

It seems there is another bet tool: PrivateBet
I think a website or an app is better.

https://nxtforum.org/index.php?topic=3068.0
Logged

cryptoventurefund

  • Full Member
  • ***
  • Karma: +32/-9
  • Offline Offline
  • Posts: 199
  • Please call me Mike
    • View Profile
Re: IPO: sports betting website and mobile app
« Reply #6 on: January 29, 2015, 03:22:43 pm »

Privatebet is something i've seriously considered to integrate into the website as a feature, but only later on after it catches fire. I didn't mention it because i didn't want to overload the concept with all the info. I needed a simple presentation of a complicated project.
Logged
NXT-SBSP-BPHH-E7BR-9USXU is promoting the use of NXT in the real life, see : http://www.NXTtracker.com...
Member of TheNxtForex committee

cryptoventurefund

  • Full Member
  • ***
  • Karma: +32/-9
  • Offline Offline
  • Posts: 199
  • Please call me Mike
    • View Profile
Re: IPO: sports betting website and mobile app
« Reply #7 on: January 30, 2015, 11:03:29 am »

I'm already chatting with the guys from nxtinspect on the fundraising matter and their implication on the matter. So far, they seem very positive about the idea.

I would like to see more movement in the thread. I need to know that people are interested before i begin putting assets up for sale.
Logged
NXT-SBSP-BPHH-E7BR-9USXU is promoting the use of NXT in the real life, see : http://www.NXTtracker.com...
Member of TheNxtForex committee

whatnxt

  • Hero Member
  • *****
  • Karma: +48/-8
  • Offline Offline
  • Posts: 502
    • View Profile
Re: IPO: sports betting website and mobile app
« Reply #8 on: January 30, 2015, 04:39:38 pm »

Its a good idea if you know how to market it and how to avoid any legal issues.
Otherwise its a bad idea that will go no where.

Gambling sites need people to gamble. This can be hard to achieve in the necessary volumes.

So far the Chinese gambling scene has been suggested. Does anyone know how to promote the site/app in China?

Logged
NXT-UAPC-3T43-FFT6-HW5BZ

cryptoventurefund

  • Full Member
  • ***
  • Karma: +32/-9
  • Offline Offline
  • Posts: 199
  • Please call me Mike
    • View Profile
Re: IPO: sports betting website and mobile app
« Reply #9 on: January 30, 2015, 06:40:12 pm »

Its a good idea if you know how to market it and how to avoid any legal issues.
Otherwise its a bad idea that will go no where.

Gambling sites need people to gamble. This can be hard to achieve in the necessary volumes.

So far the Chinese gambling scene has been suggested. Does anyone know how to promote the site/app in China?

The legality i already figured out, and it can be done without problems. I'm looking into Luxembourg because it's rather close to me and opening a company there is super easy and taxes are in the figure of 7% . But let's not focus on that too much for now. We need to start it up first  ;D

Marketing will be quite easy to set up provided that i sell enough CVF shares. I'm thinking 10.000 shares x 100nxt would raise a proper amount.

If i manage to raise all the funds, the plan is:

1. Put a 2000 USD down payment for the developer
2. Take the rest 8k and put it into a forex account and start trading
3. A month later, give the next payment of 2k to the dev. By then, i hope to be 800 usd in profit from forex.
4. Keep trading till we reach the deadline. If all is fine and well, i release the final payment for the website

While this is happening, i hope to have at least 5,5k left in the trading account after paying the efforts of the dev.

Once the website is up and running, some of the profits from both trading and the betting site can be diverted to a newly formed marketing team, and a team for social media.

In time, both the trading volume and the website will grow, and so will the value of your shares.

And with the help of the kind people from nxtinspect we can make all this happen while they take care of escrow, and will be holding the wallet in which the betting site profits are held. This way the safety of our funds are in good hands.

Chinese is definitely a MUST. But, we need to have it up and running in EN first. We simply don't have the funds and man power to start both at the same time. As soon an the english version is up, running, and properly marketed, we will appeal to all who speak Chinese and are willing to take part in translation, marketing, social media and all to lend a hand. Nobody works for free of course. All efforts will be rewarded from the profits of the fund.

As we move forward, the value of the fund and shares grows, despite the fact that we're hiring people to help. Basically, it's a win-win for all

I hope this clears some of the questions.
« Last Edit: January 30, 2015, 06:43:55 pm by cryptoventurefund »
Logged
NXT-SBSP-BPHH-E7BR-9USXU is promoting the use of NXT in the real life, see : http://www.NXTtracker.com...
Member of TheNxtForex committee

PondSea

  • Jr. Member
  • **
  • Karma: +12/-14
  • Offline Offline
  • Posts: 82
    • View Profile
Re: IPO: sports betting website and mobile app
« Reply #10 on: January 30, 2015, 10:56:25 pm »

2. Bad idea....
Logged

cryptoventurefund

  • Full Member
  • ***
  • Karma: +32/-9
  • Offline Offline
  • Posts: 199
  • Please call me Mike
    • View Profile
Re: IPO: sports betting website and mobile app
« Reply #11 on: January 31, 2015, 09:38:18 am »

2. Bad idea....

Why?  ;D
Do you know what CVF is about? What i've been doing so far with it?
Logged
NXT-SBSP-BPHH-E7BR-9USXU is promoting the use of NXT in the real life, see : http://www.NXTtracker.com...
Member of TheNxtForex committee

whatnxt

  • Hero Member
  • *****
  • Karma: +48/-8
  • Offline Offline
  • Posts: 502
    • View Profile
Re: IPO: sports betting website and mobile app
« Reply #12 on: January 31, 2015, 11:35:44 am »

2. Bad idea....

Why?  ;D
Do you know what CVF is about? What i've been doing so far with it?

Not that I want to put words into PondSea's mouth but there are some ethical arguments against being involved in Gambling.

Mostly these are about exploitation of the addicted and the poor, who tend to be the targets of gambling company marketing. The addicted for obvious reasons, the poor because from a poor persons point of view gambling may be seen as the only opportunity available to dramatically change their circumstances in a positive way; as long as you do not get addicted. I always figured rich people gambled because they were bored, or, they were not actually gambling but doing something else.

Personally I think the ethical arguments are reasonable in a world where there is no gambling.
In a world where gambling exists, however, I think they miss the mark by a long way. Everyone is already involved. If you think gambling is wrong then doing nothing/not getting involved is no longer an option.

For those that take the ethical point of view, if you want to change the world, do what the gambling companies probably did (I have no proof to hand but I expect it is out there). Use what income you get from gambling and lobby governments/buy politicians.
Linking your political activity to income from the gambling industry would create a self regulating system, too much gambling profit results in more lobbying to get rid of gambling. Due to the lags in income, this system will be unstable, which means an organized group would have a very good chance of wiping gambling out, given enough time and reinvestment of income from the gambling industry to build the lobbying budget.
Of course the lobbying group would wipe itself out in the process of wiping the Gambling industry out (a good thing for the world at large but not for the individuals).

This is the only way to treat the problem of rampant capitalism, that I know of.
As a side thought: No charity law that I have seen would allow such an organization to exist for any length of time. Read from that what you will.

So marketing for this project is very important: who is being targeted and who is not?
 
Logged
NXT-UAPC-3T43-FFT6-HW5BZ

cryptoventurefund

  • Full Member
  • ***
  • Karma: +32/-9
  • Offline Offline
  • Posts: 199
  • Please call me Mike
    • View Profile
Re: IPO: sports betting website and mobile app
« Reply #13 on: January 31, 2015, 12:11:02 pm »

I think PondSea was referring to this part of the plan : ''2. Take the rest 8k and put it into a forex account and start trading'' . The base of CVF is trading, and will most likely stay that way. All other ventures CVF is starting up are mere additions to the base concept.

You have a fair point about gambling and ethics. I'm pro gambling. Don't we all play a friendly game of poker with our friends from time to time?Even if we use plastic chips and not real cash...by definition it's still gambling. And is there an ethics difference between having a poker or dice site,lottery and sports betting? I think not...

And you're right about what people with the profits. I'm not trying to take over the world. The difference in my venture is that most of the profits go out to the shareholders. Some of the profits stay in the fund to fuel other ventures to come. Also, i'm trying my best to decentralize the asset. That's why i try to involve nxtinspect as much as i can, that's why i'm asking traders to join and get rewarded for their efforts. I also want the gambling site to be managed by someone else than me once it starts up. CVF is meant to be a community run fund. My job here is to trade, manage and develop concepts and bring them to real life.

As far as legislation goes, it's quite easy. You register a company, declare the company as a gamble service provider, declare your income, pay your taxes. The profit after tax is no longer a concern of the authorities and gets distributed as a CVF dividend.

Marketing: this will be a decision of the marketing team, but my first suggestion is to start off with Facebook, and Warrior Forum. They kids at warrior are very good and very interested in CPA and CPC and offer only targeted audience. Facebook again can tie partnerships with existing sports groups and pages, so practically we'd be acquiring players familiars to the systems. We are in NO WAY to try and convert people who don't already poses the gambling hobby. Now that would be just ethically wrong  :) and is definitely NOT a target audience.

Logged
NXT-SBSP-BPHH-E7BR-9USXU is promoting the use of NXT in the real life, see : http://www.NXTtracker.com...
Member of TheNxtForex committee

cryptoventurefund

  • Full Member
  • ***
  • Karma: +32/-9
  • Offline Offline
  • Posts: 199
  • Please call me Mike
    • View Profile
Re: IPO: sports betting website and mobile app
« Reply #14 on: January 31, 2015, 01:27:38 pm »

On another note , let me give you some food for thought.

Take a game like Entropia Universe for example. It's a real cash economy. There are hundreds of thousands of players out to have fun and make a profit if they can. In the end, aren't they paying for an addiction? Isn't Mindark making money off that adiction?

While we're at it, have a look at Candy Crush, Farmville, etc. All gaming models rely on pre-existing addictions or aim to create new ones. We on the other one would not aim to create new ones, but simply tap into an existing market.

And, when our fellow members invest into a newly created asset that relies on nothing but a concept or business model to begin with, don't they take a gamble? Aren't we all poor hoping to make a little money on the side? Think of the ones that invested in ltcgear, and other mining assets that failed, think of the ones that invested in camel milk (that one was funny as hell) , Vult Mining, and other ventures that failed. Those people took a gamble. The same goes for sports betting. You like watching football for example, you think you know who wins, and you take a chance. CVF would simply provide the means for you to take that chance.

Everyone gambles from time to time. If we can have 100k users at one point, that gamble a mere 10 NXT per year (which is nothing to be honest), after taxes and paying for hosting and the people from marketing and management, it should still bring at least 20% per year to the investors, while keeping the users happy and creating new part time jobs. The managers of the website also earn, as well as nxtinspect who will hold the wallet of the website.

I have to defend the concept, because otherwise it doesn't stand a chance to become real. And if we don't do it, someone else will.

Plus, why do you think i haven't done this by myself and keep all the profits to myself. I have the funds...   It's because i believe in  CVF and i'm trying to bring value to the community any way that i can.
Logged
NXT-SBSP-BPHH-E7BR-9USXU is promoting the use of NXT in the real life, see : http://www.NXTtracker.com...
Member of TheNxtForex committee

cryptoventurefund

  • Full Member
  • ***
  • Karma: +32/-9
  • Offline Offline
  • Posts: 199
  • Please call me Mike
    • View Profile
Re: IPO: sports betting website and mobile app
« Reply #15 on: January 31, 2015, 01:46:33 pm »

10.000 CVF shares were released by nxtinspect.

9800 shares have been put up for sale at 100 nxt each.

200 were transferred to my personal acc NXT-9K6B-KDDW-XXMB-FZL4S, as a 2% fee which is stated in the project description.

I hope we can raise as many funds as possible, and then see if we can start up the gambling website. Otherwise, all fund raised will go into the forex trading account for now.

I'm taking off on vacation, and i'm coming back on the 9'th. I will give status updates and resume conversations then.
Logged
NXT-SBSP-BPHH-E7BR-9USXU is promoting the use of NXT in the real life, see : http://www.NXTtracker.com...
Member of TheNxtForex committee
 

elective-stereophonic
elective-stereophonic
assembly
assembly