2020 Startups and Scaleups
Betmarkets (betmarkets.io) is a fully automated platform that allows anyone to copy the best professional bettors – eToro for sports betting. Users only have to deposit, select which professional bettors to copy and how much to allocate to each. Afterwards, every time one of them places a bet, the same bet is automatically placed on the users’ account.
We have aligned all interests as we operate under a profit-sharing agreement (80% for the user, 15% for the professional bettor and 5% for Betmarkets). In addition, we take a small cut on the betting turnover generated (0.7%). We estimate £50 in ARR per £1,000 deposited.
Our vision is to turn sports betting into an investment as professional bettors deliver risk-adjusted excess returns (positive alpha), sports betting is independent from the financial markets (its 5-year daily beta against stock indices is 0) and the market is still inefficient (high commissions, access to information, arbitrage, etc).
We officially launched our product in July 2020 and are already managing £250,000+ from our users which are allocated to the 20+ renowned professional bettors who currently offer their services through Betmarkets. We own an international egaming license and have established agreements with major betting operators such as Betfair, Pinnacle, Matchbook and Betdaq. Web Summit 2018 has selected us as a Most Favourited Startup and we have also been finalists in SXSW’s Pitch 2020.
We are currently raising £2m as a seed round for paid user acquisition (30%), diversifying the team’s skillset (30%) and international expansion (40%).