16 Jul, 2020
Sports wagering in America received its wings on May 14, 2018 when the United States Supreme Court ruled that the Professional and Amateur Sports Protection Act (PASPA), the 1992 federal law that had prevented states from regulating sports betting if they had not already done so, was unconstitutional. Since then, many states have legalized sports betting, and casino operators (e.g. MGM, FanDuel, Caesars, DraftKings) are opening both online and physical sports books.
In all cases, these online and physical sportsbooks, in addition to Daily Fantasy Sports, are geared to seasoned and experienced gamblers with little or no offerings that focus on the everyday fan, the female audience, or other wagering categories (e.g., entertainment awards). Play daily fantasy, bet a sportsbook, blah, blah, blah…
The concept is simple – I should be able to bet anyone on anything at any time. Now, how do we do that? We create a “marketplace” a one-stop shop that’s easy to use and allows a user to place a prop bet in the market for others to shop for a find. As my co-founder Jake Padlow says, “the bet is no good unless there’s money on the wood.”
Alex is home and ready to watch a basketball game. He wants to bet during the game, so Alex enters our marketplace looking for a prop. He finds a prop, picks an amount to bet, then sends it directly to Mark for a one-on-one bet (as shown on the right image).
There are many variations on the P2P betting, but our focus is on three ways (as shown on the left image).
We use “prop bet” because a prop bet is binary, or there’s a definite winner and loser, and it allows for the prop to be settled at different times in an event. This allow us to re-purpose the props for our other features like our pick’em contests.
Not 100%. But, this idea of peer-to-peer betting in a marketplace without a sportsbook to create the prop, validating the prop winner, and completely removing the need to pay a sportsbook is new. The big players in the industry which were the first movers see and understand this and you’ll see them start to adopt this approach and technology soon. History shows us that first movers eventually give way to innovation, right? And, the market is HUGE.
Legality - Gambling in the United States is now legal, but states are in control of the rollout (licensing). New technology is always scary to the “old guard” and peer-to-peer has yet to gain a large foothold. It will in 2020 or 2021.
Navigation. Because the volume of users we’re expecting is high, we have a simple way to organize the props, once validated by the marketplace. We explain this organization method like this – when you go to a mall, all the vendors in the mall don’t have their products in one big pile. Rather, the shopper knows where in the mall to go to buy shoes, or the location of a specific store. Same idea of our props. Our initial offering of the marketplace will have storefronts, if you will. If you want NFL games, then you go to the NFL store. If you want NFL games and Sunday afternoon games, then go that section of the store.
Yes! There’s always someone who is willing to play or challenge your prop. Team loyalty and pride runs deep in all cultures, so offering an outlet to challenge your opponent for the day is an easy sell.
Props are easy to understand. One drawback to the early daily fantasy sports applications is that you needed a depth of understanding in the sport. Everyone can play using props. It’s easy to create and accept a prop.
In-game betting. PropMe and the prop marketplace is perfect for in-game betting. What if you see a trend in the game, it’s easy to quickly create a prop and place it in the store. With all the location-based services available, why couldn’t we identify users that are attending the same game? This is on our roadmap and this technology is ubiquitous.
There is always an event. This isn’t dependent on one season, one sport or one event. We’ve already started working through an entertainment offerings and other games.
Come join us, we’d love to have you! You can join by going to www.propmellc.com
Overview. Sports wagering in America received its wings on May 14, 2018 when the United States Supreme… Court ruled that the Professional and Amateur Sports Protection Act (PASPA), the 1992 federal law that hadPeer-to-Peer Marketplace
The Wheeling Wheelman rode his training, talent and grit to capture his biggest victory to date, taking the prestigious 2019 Snowball Derby Monday at the 5 Flags Speedway in Pensacola, Fla. It was Braden’s first time qualifying for the race, and even that was chancy, given the circumstances.
But to WIN? That, my friends, was remarkable.
To quickly recap: 1. Braden was wrecked in practice Friday, destroying the right side of the car. The crew replaced the entire suspension, got the ride ready and, despite no practice with “the new car,” Braden was able to qualify for the race. 2. He qualified 30th, which, on a short track with an old, slick, asphalt surface, put his car in the crosshairs for more beatin’ and bangin’ and perhaps another wreck. 3. He went a lap down on an early pit stop. 4. He was spun by another car in the last five laps.
But to pull himself and Team Platinum together and make a run to the front after all the issues? Braden, just 25, relied on his experience and talent. When the car went a lap down and fell to 34th, the crew gambled and took on new tires before any of the other cars. This allowed him to maneuver, dart and dodge his way to sixth, and put himself into position to make a run for the win.
Travis Braden is fast, and he’s smart. He’s got two degrees in engineering from West Virginia University — mechanical and aerospace — and knows his car inside and out.
“I can build a car from the ground up,” he admitted. “A lot of the drivers can’t say that.”
It was the most improbable finish of his career. It was wild and it was staggering, several times over. But if you’ve paid close attention, you could’ve seen this coming, because it was also methodical and surgical. It was Travis Braden showing how it’s done.
The Wheeling Wheelman rode his training, talent and grit to capture his biggest victory to date, taking the prestigious 2019 Snowball Derby Monday at the 5 Flags Speedway in Pensacola, Fla. It was Braden’s first time qualifying for the race, and even that was chancy, given the circumstances.
But to WIN? That, my friends, was remarkable.
To quickly recap: 1. Braden was wrecked in practice Friday, destroying the right side of the car. The crew replaced the entire suspension, got the ride ready and, despite no practice with “the new car,” Braden was able to qualify for the race. 2. He qualified 30th, which, on a short track with an old, slick, asphalt surface, put his car in the crosshairs for more beatin’ and bangin’ and perhaps another wreck. 3. He went a lap down on an early pit stop. 4. He was spun by another car in the last five laps.
But to pull himself and Team Platinum together and make a run to the front after all the issues? Braden, just 25, relied on his experience and talent. When the car went a lap down and fell to 34th, the crew gambled and took on new tires before any of the other cars. This allowed him to maneuver, dart and dodge his way to sixth, and put himself into position to make a run for the win.
Travis Braden is fast, and he’s smart. He’s got two degrees in engineering from West Virginia University — mechanical and aerospace — and knows his car inside and out.
“I can build a car from the ground up,” he admitted. “A lot of the drivers can’t say that.”
MCMECHEN — Pro race car driver and Wheeling native Travis Braden grew up wishing that video game technology... would be more realistic — especially when it came to racing. That time has come.
The Wheeling Wheelman rode his training, talent and grit to capture his biggest victory to date, taking the prestigious 2019 Snowball Derby Monday at the 5 Flags Speedway in Pensacola, Fla. It was Braden’s first time qualifying for the race, and even that was chancy, given the circumstances.
But to WIN? That, my friends, was remarkable.
To quickly recap: 1. Braden was wrecked in practice Friday, destroying the right side of the car. The crew replaced the entire suspension, got the ride ready and, despite no practice with “the new car,” Braden was able to qualify for the race. 2. He qualified 30th, which, on a short track with an old, slick, asphalt surface, put his car in the crosshairs for more beatin’ and bangin’ and perhaps another wreck. 3. He went a lap down on an early pit stop. 4. He was spun by another car in the last five laps.
But to pull himself and Team Platinum together and make a run to the front after all the issues? Braden, just 25, relied on his experience and talent. When the car went a lap down and fell to 34th, the crew gambled and took on new tires before any of the other cars. This allowed him to maneuver, dart and dodge his way to sixth, and put himself into position to make a run for the win.
Travis Braden is fast, and he’s smart. He’s got two degrees in engineering from West Virginia University — mechanical and aerospace — and knows his car inside and out.
“I can build a car from the ground up,” he admitted. “A lot of the drivers can’t say that.”
