Can a sports betting platform redefine the gaming landscape, engaging millions of users without involving real money in bets, while still generating healthy revenue? Meet Shah, the visionary founder and CEO of BeBetta, a groundbreaking fantasy sports platform from Ahmedabad, seems to have cracked the code of money-free sports betting.
Through BeBetta, users can place bets on their favourite teams, players, and sporting moments using their proprietary token system called BetCoins and collect rewards and benefits in exchange when they win. The app launched in September 2023 and has 1.02 million users already, and it is poised to add another 15-20 million users by the end of 2024.
In an exclusive interaction with Team ProdWrks, Meet Shah states that fantasy sports betting is growing rapidly and is at the intersection of adoption and evolution.
Keep reading to get insights into how Meet is building a free-to-play sports betting app utilizing the power of personalization, gamification, and community, and changing the public perception of sports betting in India.
Changing Indian Public Perception on Sports Betting
Money Isn’t a Major Motivator in Sports Betting
BeBetta’s Three Pronged Monetization Strategy
Further explaining BeBetta’s monetization strategy, Meet said the platform integrates in-app advertisements, in-app purchases, and a brand partnership model to drive revenue.
1. Reward-Based In-App Advertisements:
BeBetta leverages a rewarded ad model where users earn rewards like BetCoins by watching ads. These coins can be exchanged for coupons and discount codes. This model ensures a win-win situation, as users gain rewards, and advertisers benefit from increased viewership and engagement.
2. Microtransactions and In-App Purchases:
Instead of relying on subscription-based models, BeBetta focuses on microtransactions within the app. Users can unlock and engage with additional sports for a minimal fee of 10 to 20 rupees, enhancing their experience without committing to long-term subscriptions or burning their pockets.
3. Brand Partnership Model:
BeBetta’s brand partnership model revolves around awareness and hype campaigns, collaborating with brands for new product launches, festival offers, and purpose-driven marketing. This approach aligns with BeBetta’s user base, offering an engaging platform for brands to connect with their target audience.