Numerous platforms in the sports betting industry constantly have special marketing tactics to gain even the slightest edge over the competition. Social media has become a big part of the industry as SoBet looks to bring that aspect to sports wagering.
Social Media Influence on Sports Betting
Social media has changed the way many businesses around the world conduct business. In the same way, there are apps that compare several sportsbooks and display which bookmakers offer better odds for the same bet.
Cooper Lycan of SoBet has noticed that social media has a huge influence on the sports betting market. People on platforms like Twitter, Instagram, Tiktok, and other sites have a huge following. Some of the cappers who are known to find success have offered their services to help people gain an edge and win money against the books.
Some handicappers offer their services on sites like Twitter, Instagram, etc. If one clicks on the link, some users will have a Discord server or other methods. With that, these cappers will charge a monthly fee with the goal to help bettors win more wagers.
The Action Networks allows bettors and cappers to track their wagers. Still, there is no way to gain a clear edge over the bookmakers. However, Lycan, who is a sports bettor himself, saw a way to improve that market.
How is SoBet Different From the Rest?
With the use of social media apps like Twitter, transparency may be difficult to come by as it’s easy to delete a post. Many people also say that they hit wagers at a certain rate, but this doesn’t seem to coincide with the description, as it’s hard to hold people accountable.
The posts and services aren’t organized, and none of the apps have searchable betting categories. There are also too many cappers with a huge following who are essentially fading each other without any detailed explanation as to why this wager was taken in the first place.
He stated, “I realized that everybody in my demographic was going to social media to get our sports betting content. With nearly 300,000 followers and ten initial content creators, Lycan launched SoBet in June. Since going live, the platform has gained more than 250 percent and over 250 percent in monthly paid users. Subscriptions for the site are also $9.95, which is far less than most discord chats.
SoBet has 25 creators that are offering their picks to the public, which allows bettors to easily find what wagers they want to follow. He doesn’t want to put a cap on how many creators can join, but the ideal number is set to be around 100 people. His goal is to reach all the major markets in the sports betting world, which encompasses the major sports leagues.
Can SoBet Find its Niche in the Tough Market?
The app is currently available for mobile and desktop; however, the full-scaled app will launch by the next football season.
The closest app to SoBet that integrates social media would be the Wagr app which is available in Tennessee. However, Wagr is a whole different app that could be used to bet against friends and those in the community.
Through its social feed, you could see what your friends are betting on, who they are challenging, and how they are doing. This eliminates the awkwardness of asking for money if an individual and a friend made a wager among themselves. People will get paid according to the outcome of the game.