Favourit, a newly launched App from a pair of brothers in Melbourne Australia is reaching out to sports gamblers with an app that both brings together gamblers and sites to take the bets and friends that want to compete together using social media.
Founded in 2012 by brothers Toby and Josh Simmons, Favourit is touting itself as the Social sports betting network it has already attracted $3.6 million in Series A venture funding, a move that alone will help give it a boost over many rivals that are bootstrapping their way to market.
The concept is simple. Fans can gamble real money, where allowed, or virtual currency. The site sets fans up with betting operators for the real thing and with friends via social media for the all important bragging rights, and real betting as well if so desired.
It is designed as a global program, and while it covers some sports that Americans might not have a sporting interest in such as Australian Football League it covers a range of ones that might have a more direct appeal such as the NBA or the NFL.
While it has been available as a Web app and in HTML form for mobile users, studies have shown that increasingly smartphone and tablet users much prefer apps designed specifically for those platforms and that s what the company has done, creating a version that is currently downloadable for free from Apple’s iTunes store and that will run on Apple iOS devices.
Favourit includes real time virtual betting, as well as real betting via regulated partners and player to player bets. It includes stats, previews and live scores of events and has a social stream so that betters can chat and receive up to date news. You can also follow all of your bets and see social trends in betting and has a board that ranks bettors in terms of complexity and allows users to earn “BetIQ” points.
There have been plenty of apps that have sought to leverage the connection between social media and betting, and plenty that have focused just on the betting aspect of the equation. Apps such as 2Bet2, SideBet and others are already participating at some level and its been pretty clear that others are dying to get involved. A hold back, at least in the US, is that it is illegal to bet online. However that may be changing and other countries have already allowed it, as is obvious from what Favourit is doing.
I wonder if the push that the state of New Jersey is having about sports gambling will help open the door to more gambling in the US, particularly online? I guess only time will tell, but in terms of a head start for actual gambling, off shore sites like Favourit have a real advantage
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