BitBets: Against All Odds

Beginning in the early 2010s, cryptocurrency and online gambling began to sprout and take over like kudzu in rural North Carolina. Companies like Bitcoin shot onto the market making instant billionaires out of penny stock investors.

In 2021, a joke started the $DogeCoin crypto boom as a new cryptocurrency was giving investors 10x a return on their initial investment. Online betting marked records during the 2021 Super Bowl between the Tampa Bay Buccaneers and the Kansas City Chiefs.

Despite an increase in sports betting and online gambling, companies like DraftKings and BetUS have neglected to include cryptocurrency traders. They are sticking with traditional bank withdrawals than the online currency world that is used by millions of people nationwide.

Our app would allow customers to gamble using cryptocurrency. The current crypto gambling market is not yet saturated with competition. In fact, there are no sports specific gambling agencies that operate solely on cryptocurrency. Our product seeks to change that.

BitBets is an app with a unique and interactive interface that will allow consumers to gamble solely with Bitcoin. While Bitcoin is an independent entity with their own patents and trademarks, we will engage in a relationship with Bitcoin to ensure that our consumers are able to trade efficiently.

BitBets is a fanciful term combining Bitcoin and Bets as a way to broadcast our partnership with Bitcoin while emphasizing our commitment to online sports gambling. This also allows our company to move into other legalized gambling categories as our company expands.

Currently, the BitBets name is not copyrighted or trademarked with the United States Patents and Trademarks Office. Originally named SportsApp, this name was too broad, generic, and under the control of other entities that hold trademark rights.

Our logo is a simple navy blue with silver, white, and Carolina blue accents. Our app is a condensed version but instead of our slogan, it simply states "Crypto Sports Betting" as a disclaimer as to what our product actually is.

We decided with the motto "Against All Odds" because this is both a sports and a gambling idiom. Gambling is something to be taken seriously and some of the most profitable bets are dark horse bets that 'against all odds' allowed the gambler to make profit.

Our target market is going to be college students and middle aged adults. Both of these groups are active in the online gambling community and the crypto market. During the 2021 crypto bubble, with the inclusion of $DogeCoin into the crypto community, it is estimated that 21% of college students nationally invested in cryptocurrency. It is also estimated that 64% of college students see cryptocurrency as a long term investment.

Our disclosures would be about gambling addiction. Gambling addiction is one of the worst addictions as it affects your homelife, your financials, and the mental health of you and your loved ones. Gambling disclaimers vary on a state-by-state basis. Some states allow online gambling, some states do not. Some states require aggressive anti-gambling verbiage on packaging and advertisements, some states do not. A comprehensive list of gambling disclaimers on a state-by-state basis can be found here.

Cryptocurrency is still evolving and the online market for the currency is still changing. There are even new cryptocurrencies being introduced on a daily basis. So, introducing a new gambling app that allows users to utilize their cryptocurrency stockpiles will allow the online gambling community to take one more stride into the 21st century.

As we continue to make strides as a country in the technology industry, we will begin to see more gambling apps like the one that we have proposed. With an influx into the cryptocurrency industry, gambling platforms will need to look into the validity and sustainability of crypto-gambling.

Against all odds, cryptocurrency is here to stay... and so is gambling.