Flash Research Paper: BetChyeah
BetChyeah
BetChyeah is an app that allows users to place bet with their friends or the the public, or place bets on Vegas odds. This service would work as an eCommerce, betting app, allowing users to link their bank accounts up to the app and place any kind of bet on any kind of situation, no matter how obscure. The way we would build value for this business is by charging a small fee on every entry put into a pool.
BetChyeah is a new betting app that generates odds based on complex algorithms, Vegas odds, and our own staff of actuarial scientists to create odds on anything you can think of. From entertainment to sports to the weather to who will be voted off the next American Idol, our mobile platform will be user-friendly and will make betting fun for the average person. There will be several “odd” bets that our app will feature daily that make our app fun and interesting. Our easy-to-use platform will allow people to effortlessly navigate and place bets. This app will be compatible on iOS as well as Android phones and will be secured using top-of-the-line security software as well as servers and databases capable of ensuring that our customers’ money is safe. The biggest thing separating us from our competitors is our extremely easy-to-use interface that simplifies the bets down to yes or no statements, the amount you must put up, and the winnings.
The clear revenue stream that we would be generating is the fee on every entry into a new pool. The way we plan on keeping our customers around and making bets would be by featuring “odd” bets that are fun to bet on. By allowing users to create betting pools we would also take a small fee from the winner. The ease of having all of the payments on this app is that users do not have to go through the hassle of handling money in person. There would be a contractual agreement at the beginning of the app also detailing the legalities of the betting process that would keep BetChyeah from lawsuits and any problems that would involve state regulations on online betting.