Drew Mitchell and Matt Giteau create magic in new SportsHero rugby promo
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Sports gamification app SportsHero has a new rugby union prediction platform – and scored big name Aussie players Drew Mitchell and Matt Giteau as ambassadors.
But investors weren’t that impressed, bumping the stock (ASX:SHO) up just 1 per cent to 8.5c in afternoon trade.
SportsHero reckons more than 800 million people worldwide follow rugby union, according to a recent World Rugby and Nielsen Sports survey, and more than 338 million people identify as “genuine fans”.
The sports prediction app says it is an alternative to traditional betting by letting fans predict the outcome of competitions and earn rewards and “money can’t buy” prizes such as memorabilia.
The company hopes that a new free-to-play app in Australia will “aggressively on-board” rugby fans, with users participating in free weekly and season-long tipping competitions.
The first phase of this new product will be launched on 15 February targeting fans of the upcoming Super Rugby comp, which is held across Australia, New Zealand, South Africa, Argentina and Japan.
This will be followed by Rugby 7s and the 2019 Rugby World Cup.
SportsHero says former Australian fullback Drew Mitchell and Australian halfback Matt Giteau will participate in these comps, throwing in bonus autographed rugby merch and even opportunities for meet and greet with lucky fans.
If this amazing NSFW promo doesn’t get you on board nothing will.
Download @SportsHeroApp to join in on the banter & maybe challenge your mate with a side wager like we are??!!
Get ready to Bungee Gits!!
This is not* a plug 🤥🤥🤥 pic.twitter.com/icfMhnZ450
— Drew Mitchell (@drew_mitchell) February 13, 2019
The stock has been mauled over the past 6 months or so, down 60 per cent from August highs of 22c per share.
Despite some big announcements over the past year, it’s not making a whole lot of money at the moment.
In its December quarterly report the company said it would receive $185,000 for its first official “LaLiga Hero of the month competition”.
It’s also due to receive about $65,000 this week from its Indonesian “proof of concept” 2018 World Cup campaign in June and July 2018.
The company says these revenues demonstrate proof of concept and validate its business model.
Based on its recent activity though, SportsHero is eyeing off a different revenue stream — tapping into the multi-billion dollar market for sports betting.
In that sense, this year’s packed rugby calendar presents a good opportunity for SportsHero to attract users to its platform with a dedicated tipping competition.
But for now, it’s all just in good fun — no tipsters are putting any money on the line.
That could change though if SportsHero executes on its plan to obtain a sports bookmaker’s license and launch a pay-to-play sports prediction platform in Australia.
Markets will be watching for an update after the company signed a heads of agreement in January to enter into a joint venture with Cross Bet Holdings Pty Ltd.
SportsHero’s aim is to “enter the pay-to-play prediction market in Australia via the joint venture company”, the company said.
“The pay-to-play platform will provide users with the vehicle to participate in pay-to-play competitions, where more substantial prizes and rewards are intended to be offered.”