Ask HN: Feedback on betting app idea

[DanPir]

Hi all,

I have an idea for an app but I am not sure if something similar already exists or not (and if the whole idea makes sense).

My idea is about an app for betting among friends. Base case scenario:

- User A sends a bet proposal (ex: "Mercedes will win the next week F1 GP", "I am able to run for 20km", "Tonight I will drink 10 beers" etc.) to some of his contacts (let's say users B, C and D) and fix a bet price (ex: 1 $) and expiration time (ex: 2 days). - Users B, C and D receive a notification about the proposed bet - Users B and C accept the proposal and 1 $ is "blocked" form their account in addition to 2 $ from user A's account - User D refuse the proposal - Bet expires and each user is called to vote for the result of the bet - Users A, B and C vote that the bet is lost by A - 2 $ are removed from A's and 1 $ is added to both B and C's account

This a very broad and draft workflow. Do you think it makes sense?

[brudgers]

As described, it appears growth will depend on social network effects. The current standard strategic advice would be to build something a few people love. Out of that falls the tactical advice to make something that can be put in front of a very few potential users right now, collect feedback, and quickly iterate.

In the US, and possibly other markets, there are potential legal impediments due to gambling laws. Worldwide, there may be acceptance issues among payment networks.

In broad strokes, I wonder how an app is better than exchanging cash in terms of "the important thing isn't that I won, it's that you lost" in the social context.