SportsHero’s ambitious plan to attract 1 billion app users by year’s end
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The chairman of sports fantasy play SportsHero has a bold plan to develop a community of one billion fans before year’s end.
SportsHero (ASX:SHO) offers an alternative to sports betting and gambling – allowing fans to predict the outcome of competitions and earn rewards such as the opportunity to meet sport stars.
SportsHero joined the ASX in Feburary after raising $3.2 million selling shares at 5c each. Its shares have dipped as low as 3c but closed on Tuesday at 6.5c.
Chairman Michael Higginson told Stockhead the key to monetising the platform was leveraging the networks of existing sports organisations, cashing in on social media influence.
“Our goal is to engage one billion sporting fans by December and build a community online by targeting the clubs that they interact with,” he said.
“We are going to try to sign up football clubs and leagues in all different countries, starting with cricket and soccer.”
“Signing up our affiliates allows us to directly get in contact with large bases and provides a substantial sports promotion and marketing base.
“Already we have signed an agreement with Spartan Sporting Goods that has brand ambassadors with a social media reach in excess of 90 million fans.”
Key to their revenue model is for affiliates to sponsor questions posed to fans on the app, as simple as who will win a live football or cricket match and those who win are given a SportsHero coin to redeem at the eStore.
Australian cricketer Ian Chappell has been held up as the company’s first cricket ambassador, with suggestions that Sachin Tendulkar, Michael Clarke and Chris Gayle could also be involved through their involvement with Spartan.
The key focus would be on the Asia-Pacific, outside of Australia where gaming regulations forbid the handing out of prizes without a gaming licence.
“Users can ask questions of their sporting heroes and participate in competitions to win prizes such as signed cricket bats or experiences to interact with their heroes,” Mr Higginson said.
“Potentially SportsHero is not dramatically different from fantasy sports – we are asking people to engage though predicting the outcomes of games and those that subscribe get the opportunity to participate.”