New Business Model For Sports Betting

If you happen to be a sports betting fan, whether seriously or not so much, you will want to take the time to read the rest of this article about the next big thing to come along in sports betting. Interestingly, even though this is yet another technological development, it is most likely not the sort of sports betting tech that you may be expecting.

First of all, it is important to get a sense of the size of the amount of sports betting that actually takes place in the United States. Get this: according to none other than the American Gaming Association (AGA) the amount of money wagered online is estimated to be somewhere between $100 Billion and $300 Billion each year. Those are some fairly big numbers to be discussing no matter how you wish to look at sports betting.

So here is what you need to know. There is a relatively new startup by the name of GoodBookey. Note that the founders of GoodBookey recognized the competitive nature of sports betting fans and at the same time wanted to construct something that could take the best of sports betting action and somehow combine that with technology that would have a meaningful social impact.

The result is what the folks behind GoodBookey are calling a charitable sports betting platform. Or more accurately, a charitable sports betting app. This GoodBookey app is currently available for both the iOs and the Android platforms.

Here is how this charitable sports betting app works in practice. Sports betting fans first select an upcoming sports event that they are interested in placing a wager. Next, they invite a friend or other party to wager on the outcome of the sports event. Once the other side accepts the challenge, each party picks their favorite team, settles upon an agreed wager amount and then picks a charity from the list that GoodBookey makes available.

At the conclusion of the event when there is a clear winner (and loser), the amount wagered is then routed to the charity of choice by the losing side of the sports bet. In other words, the loser of the sports bet is directed to donate the amount of the wager to the charity selected before the event began.

For the record, the idea of charitable sports betting has in fact been around for quite some time. Pay attention to the fact that there is even a Reddit group dedicated to just that. Yet, that being said, the GoodBookey charitable sports betting app looks to be the first app specifically engineered to enable and to monetize this sort of sports betting activity.

Will this new GoodBookey Sports betting app catch on? Stay tuned as this may in fact become a common theme going forward.

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