Sponsio Games Inc. (Sponsio) has developed a social gaming platform that combines social networking and peer-to-peer betting. Our patent-pending Social Betting Platform (SBP) delivers an alternative betting experience to a large, unserved market by allowing players to determine what they want to bet on and with whom. Players can bet on any event, topic, or outcome they want, any time they want while knowing that funds are in place before a bet is sent or accepted. To date, we have developed two products FantasyRules for the fantasy sports market and Sponsio for peer to peer social betting. Sponsio delivers three unique peer-to-peer betting options in one app, H2H, Group and Trending.
Our products are very analogous to other social networking products in the market today such as Instagram and twitter. Instead of sending and sharing pictures and text we allow user to send and share contests. Our products are unique in that they provide a true social networking experience while providing users with a safe and social experience where users can bet on any event or topic, they are interested in.
With FantasyRules we provide a set of predefined contests that players choose from. These contests can be weekly or end of season and involve every player in the league. Contests are based on players point score and wins in their fantasy league; this insures we meet the rules associated with UIEGMA. Once contests conclude for the week or the end of the season, players can check scores on their favorite fantasy site to declare a winner, or those that use Yahoo will have contests declared automatically and funds transferred to players account.
Sponsio falls under a category that is known as “Social Betting,” where two people with similar knowledge are placing bets between themselves. This type of betting is considered legal in most US states.
Sponsio does not determine what the players bet on who or they bet against, nor are we responsible for pay-out as players use their own funds. If players do not agree on the outcome, we ensure funds are returned to both players. Players use their funds to accept and send bets and what the bets or contest will be.
The definition of social gambling will differ slightly but is generally considered as wagering amongst friends or with people that have a similar interest or affiliation. Participants must compete on equal terms; no players can be considered a professional gambler and the all the proceed from the bet go to the players only. A $10 wager on the outcome of a golf game or televised sports game between two friends is an example of social betting.