Licenced Premier League Sweepstake App Goes Live
The LEBOM app, which allows you to compete with friends in predicting Premier League results, has gone live. The company behind the app has received £400,000 of seed money after investors were impressed with their RG strategy.
Friends can play together, competing to win a sweepstake, thanks to an app that the UK Gambling Commission has licenced. Called LEBOM, players predict the score of Premier League matches with the winner taking the pot. Available on both Android and IOS platforms, the app allows up to twenty people to set up private betting leagues in which participants predict the outcome of Premier League games.
Similar in concept to the now-defunct BBC football predictor, players must use their judgment to predict each Premier League fixture’s correct score for that round. If a player correctly predicts which team will win (or predicts a draw, but not the correct score of the draw), they receive six points. Players can score twenty points if they predict the score correctly.
Each player contributes a set amount into the ‘pot’, and the player with the most points will win the total amount in the kitty. The company makes its money by taking a fixed 10% commission on all stakes. The company’s advertising campaign around the app promises ‘enjoyment or your money back’.
The new start-up has received praise for its focus on responsible gaming with more safety caps in place than you would find with a traditional online exchange. A £50 maximum stake is in place, and winnings are capped at £1,000. Investors, who have provided seed money of £400,000, are believed to have been impressed with the creators focus on safe game design that minimises risk.
The platform that LEBOM runs on supplies data provided by OPTA, which allows players access to previous match stats to help them make their predictions on Premier League games. The company will also supply bespoke information for other selected fixtures, such as FA Cup games and international games.
The company ran the platform in a limited capacity recently, and with hundreds downloading the app, they claim the user base retention rate stands at 80%.
The app, which was built in-house, was the idea of Guy Phillips, a digital media professional. For Phillips, it was a logical progression from the office sweepstakes he had been running for many years. Speaking to trade publication EGR, Phillips said:
“I used to operate regular prediction leagues in the office, but when I left, a colleague who took over the league quit because of the legwork involved in keeping it going,”
“I realised doing so via an app would make the whole thing a lot easier to handle, and we could introduce that competition aspect between mates.
“That’s the concept we want to operate with LEBOM, making it simple as possible to run a sweepstake prediction league and making it as much as possible about making it fun and something to do with your mates,”
The timing of the apps full release could be considered fortunate or unfortunate, depending on your standpoint. Football Index, which was a football-themed trading market, recently went into administration, leaving thousands of customers in the dark over their funds. This fact alone might make potential customers wary of another football-based product. However, LEBOM’s simple and transparent charging system and ownership of their proprietary app should make them a viable option. They could also benefit from former Football Index customers who are looking for a new product.