Fortunately, I am a software engineer, so there was no cost to hire anybody initially. I did everything myself for about a year, including development, marketing, design, support, and coffee making. For the first 18 months I think the cost was minimal. Some hosting and tech costs.
When I needed some help I hire part time consultants from platforms like upwork and fivver.
Now that we are a fully developed and functioning app the cost do go up. The biggest costs is salaries, good software engineers are the main culprits. We do spend a small amount on marketing, but we have invested time and effort into growing the app and brand organically. Search engine optimization for the website and ASO for the app stores. The nature of the app helps us grow too as by default the users are inviting friends to bet with them. This should help us grow at a steady rate with minimal investment in marketing.
The app is unit based and no money is exchanged in the app. So the main functionality of the app is to facilitate fun, friendly bets with your friends on the football, sport and other topics. We certainly not a hardcore bettor platform.
You can propose, track, tally these units in the app. How you settle up is up to you. I don’t believe we will ever move into a real money platform.
I built the app myself. But we now have a small team of devs working on it with me overseeing the bigger projects.
My background is in computer science from UT Austin. I worked at Amazon as Software Development Engineer/Manager for around 4 years.
Red tape and regulation in the world of betting is different for each state and can be a nightmare to manage, so I made the decision early on to not allow real money in the App. So there is no real money exchanged in the app, we simply track balances of bets your propose to friends. It is unit based, so therefore legal in all states. How you settle up the balances is up to you.
We still run into issues occasionally, at the moment we have some policy issues we need to fix for the Google play store.
stick321 OP t1_j7vlwno wrote
Reply to comment by PeanutSalsa in I am William, 3 years ago I quit my Job at Amazon to focus on a peer-to-peer betting app. This weekend we expect to facilitate our 1 millionth bet. Ask me about social betting, sports betting, starts-ups, tech and fundraising. by stick321
Hi,
Fortunately, I am a software engineer, so there was no cost to hire anybody initially. I did everything myself for about a year, including development, marketing, design, support, and coffee making. For the first 18 months I think the cost was minimal. Some hosting and tech costs.
When I needed some help I hire part time consultants from platforms like upwork and fivver.
Now that we are a fully developed and functioning app the cost do go up. The biggest costs is salaries, good software engineers are the main culprits. We do spend a small amount on marketing, but we have invested time and effort into growing the app and brand organically. Search engine optimization for the website and ASO for the app stores. The nature of the app helps us grow too as by default the users are inviting friends to bet with them. This should help us grow at a steady rate with minimal investment in marketing.