We had an in-depth and lengthy interview with Mr. “Patrick Gray”; Co-Founder and CEO of the US (New York)-based start-up “http://www.BetBomb.com” about his Company.
The service is absolutely free and players compete for terrific prizes. BetBomb.com strives to be the greatest, most professional, totally free and most importantly completely legal betting site on the internet. Five1Eight Internet Media, LLC (F1E) founded BetBomb.com out of necessity with the goal of constantly improving their service to meet and exceed the demands of today’s highly sophisticated users.
F1E was frustrated with the existing betting sites that are poorly designed and impossible to navigate. BetBomb.com goes beyond the basics and offers groundbreaking features on a platform that will make users feel completely comfortable placing bets. It is a completely free site that allows you to place daily bets and keep statistics on how you are doing overall. BetBomb.com gives you the ability to join tournaments to win real prizes at no cost.
BetBomb.com is not a gambling website. It’s a free sports wagering website built for millions of sports fans to provide them with a platform to participate in picking games, track their statistics, and compete in tournaments without risking any money. The service is absolutely free for all users. The website offers tools and statistics to help players make better decisions.
Participants can also refer friends, earning points every time a referral signs up. They can track their friends play, challenge them to bets, talk trash, participate in contests and communicate through an internal messaging system. Over the next year we are going to add an additional ten sports so that no matter what you are into you will be able to use our product. We will also be adding parlays and teasers to the mix.
We are already being used around the world and get customer testimonials saying they use our product everyday. Our number one company objective is customer service and making sure our users are completely satisfied. Our goal is to become the largest online gaming site on the Internet.
Below is the full interview that we have conducted with Mr. Gray regarding his start-up “BetBomb.com”;
1. What is it exactly that you do and what “BetBomb” is all about?
BetBomb.com is all of the excitement of betting on your favorite sports teams with none of the gamble. Players can make picks against real spreads, lines, and totals for both major league and college sports. This includes: Major League Baseball, National Football League, National Hockey League, National Basketball Association, as well as NCAA football and basketball. We have plans to include other sports in the near future. The service is absolutely free and players compete for terrific prizes. BetBomb.com strives to be the greatest, most professional, totally free and most importantly completely legal betting site on the internet.
2. When has “BetBomb” been founded? And what stage is “BetBomb” currently at?
We founded Five1Eight Internet Media, LLC in January of 2012. Our first project BetBomb.com was launched April 2nd 2012.
3. What is “BetBomb” business model and how does it work?
BetBomb.com provides the educated sport lovers with a free online community where they can socialize, win prizes, and share their passion for sports and competition by utilizing their skill in picking winners in a tournament style setting. Users wager faux currency (points) on sporting events to win more points. Accumulated points are used to buy into tournaments where the user has the opportunity to win prizes.
4. How did your team meet? And who in your team does what?
Patrick Gray and Eric Heidelmark are the Co-Founders of Five1Eight Internet Media, LLC. They began their friendship at Siena College just miles from New York’s capital in Loudonville, New York. Both graduated college with Bachelor of Art degrees in Computer Science. Pat currently oversees the day-to-day operations of the company as CEO. His abilities to manage, inspire and lead a team were recognized and further refined while he was CEO at MoveThatBlock.com. Eric is his business partner, and serves as the Director of Technology & Software Development. He has worked professionally as an application developer for over 7 years. His many happy clients include world-class brands in sports and media.
5. What, exactly, makes you different from existing options, what will make your product and/or service stand out in the marketplace? In other words what’s unique about you and what’s new about what you make?
BetBomb.com is an entirely new online gaming concept. We combined traditional sports betting with poker style play to develop a free, strategy based, sports betting game that doesn’t exist anywhere else. The game’s strategic and social nature coupled with the ability to win great prizes at no cost to the user will generate a new excitement in the online sports betting space.
6. What is your growth like? And what milestones has “BetBomb” achieved so far?
Right now we are looking for new users to join the site. The site launched a month ago and we have already had over 1,000 new users sign up. Reaching 1000 new users is a major milestone for us and we find this relatively high number of initial sign-ups very encouraging. We are eager for more visitor traffic and welcome as much feedback as we can get from our user community so that we can create the best sports betting platform for them.
7. Who are your competitors?
In theory, all free online sports betting websites can be seen as competitors of Betbomb.com. However, because our style of game is a novel concept in the online sports betting industry, we don’t believe we have any direct competition to our patent pending business model.
8. What obstacles did you face and how did you overcome them?
Our number one priority was making sure we are 100% legal in every jurisdiction that we operate. We are a completely free sports betting website and wanted to make sure we would have no legal issues. We spent months investigating every angle of the industry to make sure there was no risk to our business model. We took this very seriously and wanted to make sure we did our due diligence up front. The state by state analysis took the most time but was well worth it. We hired one of the most prestigious gaming law firms in the country to make sure there would be no legal implications in the future.
9. What are the key things about your field that outsiders don’t understand?
We get asked all the time “how is your business legal, I thought online betting was illegal”. Our answer is always “Yes, BetBomb.com is completely legal. From a legal perspective, gambling requires three things: chance, prizes and consideration. The absence of any of the three means there is no gambling involved. Consideration is the risking of something of value. Here at BetBomb.com, you are risking nothing. Since there is no consideration and no purchase necessary to play, this is 100% legal.”
10. Why are you going to succeed?
We are going to succeed because online gaming is one of the fastest growing markets on the internet. People are naturally competitive, love sports and are addicted to social media sites. We combine all three aspects into our site. You can track your statistics, challenge friends and compete for great prizes.
11. If “BetBomb” succeeds, what additional areas might you be able to expand into?
When our startup succeeds we are going to add additional sports to our platform. We are also considering getting into the fantasy and poker space down the road.
12. Why did you choose this idea and concept to build “BetBomb” based on?
My partner and I are avid sports fans and have been looking to build a sports wagering website for a long time. We wanted to give sports bettors an alternative to betting on sites overseas and risking all of their money.
13. What have you learned so far from launching your idea?
I have learned that this industry is completely wide open and waiting for someone to come along and dominate it. That company is going to be Five1Eight Internet Media, LLC with BetBomb.com
14. Six months from now, what’s going to be your biggest problem?
Every issue we face is just a hurdle that we jump over with ease. This is not going to change is six months. Nothing is going to stop us from getting to the top.
15. What’s the benefit for the user?
Sport enthusiast receive all of the gamble with none of the risk. They can bet on their favorite sports team without risking anything. The biggest benefit is they can do this at no cost and still win amazing prizes.
16. How did customers and/or users find out about you?
We have done zero marketing and advertising so our users are finding out about us through word of mouth. We have been growing very fast organically and I am very excited to see what the future holds.
17. Who are your current users? Who are your target users?
We originally thought that our target users would be men ages 18 to 65 in the United States. I am finding out that women love our site just as much. We are also getting traffic from all over the world.
18. Where do new users come from and what makes new users try you?
New users are coming from referrals. Our current clients love our product so they are telling their family and friends about us. This is the best way for any business to grow. If you create an amazing product then the customer growth is inevitable.
19. What do your users say about your product and/or service?
We get emails everyday from clients saying that they love our products. They are extremely excited about us launching other sports which is soon to come.
20. How are you going to scale?
We already know that we are going to be big so we have planned for massive growth. As long as we continue to plan for future growth we should scale fine.
21. What’s the biggest missing feature? The one thing customers keep asking for?
We currently offer six of the biggest sports which include Major League Baseball (MLB), National Football League (NFL), National Hockey League (NHL), National Basketball Association (NBA), as well as National College Association (NCAA) football and basketball. Our customers are asking for additional sports which we plan to add this year. These will include Soccer, Tennis, NASCAR, Horse Racing, Boxing and Golf.
22. Are you going to internationalize?
We already have customers from all over the world and plan on adding additional sports that are more popular in other countries.
23. How big do you think you can get?
I think we will own the online sports gaming space in the next few years. This is one of the fastest growing areas on the internet so we will be huge.
24. Are you looking to hire a new workforce? And if yes, what job vacancies do you Currently offer and where can potential applicants contact you at?
We are growing at an extremely fast rate. Our team is growing everyday and every area of our business needs additional resources. If you are interested in joining the team you can contact, firstname.lastname@example.org.
25. Are you looking for partnership opportunities or funding from Venture Capitals (VC) or other funding sources? Or your business is self-sustainable? And if the first option applies where can potential partners / investors contact you at?
We are not currently looking for additional funding.
26. Finally, what advice do you have for fresh entrepreneurs?
If you are going to start a company create something that you are passionate about. If you love your job then it is not work.