Case 321: A pioneering spirit in the world of sports betting
I am Thales Alves de Oliveira, and this is my 🔔 story as a 29-year-old Brazilian entrepreneur who revolutionized the sports betting industry with my app, 83 bets. I grew up 🔔 in a low-income household with a passion for soccer, coding, and Numbers. In 2024, I dropped out of college to 🔔 pursue my dream of creating an app that would allow users to bet on the outcome of soccer matches. I 🔔 faced many challenges, but my determination and resilience paid off when 83 bets became a reality.
Background of the case:
The sports 🔔 betting industry in Brazil is traditional and cartelized, controlled by a few operators who offered few markets and poor odds. 🔔 Seeing an opportunity to disrupt the status quo, I set out to create a user-friendly and efficient app that could 🔔 cater to the Brazilian market.
Description of the case:
My innovative approach was to focus on live soccer betting, allowing users to 🔔 placing bets during the match. This feature revolutionized the industry and brought new life to sports betting. My app offered 🔔 unique features like fast payouts, exclusive promotions, and increased odds. Users could bet on different aspects of the game, such 🔔 as corners, yellow and red cards, and goals.
Implementation:
With no investment from venture capitalists or angel investors, I developed the app 🔔 with a team of three developers. The project required intense research and analysis of European and American betting apps. We 🔔 went through a complex and strict regulatory process but eventually obtained approval from gambling authorities.
Gains and conquests:
Our efforts paid off, 🔔 and we reached new heights. 83 bets jumped into the market and immediately captured 3% of the sports betting market, 🔔 surpassing traditional and rooted competitors. The odds provided to customers were the ones that made the biggest difference. My app 🔔 stood out by delivering what others didn’t, which created success. We defeated competitors and achieved a market value of R$1.15b.
Recommendations 🔔 and Lessons:
My journey might inspire other entrepreneurs, but it also teaches the following lessons:
Focusing on live sports betting was my 🔔 jackpot. Before developing the app, thorough research is vital. As I always said,
“Information gives people power.” Don't just rely on 🔔 thought. Develop yours.”
2. Innovation triumphs:
In a traditional market controlled by large actors, innovation was crucial to success. Identify gaps in 🔔 outdated markets, and innovate to generate significant profits and market share.
3. Regulation is vital: Strict regulation, obtaining permits, meeting requirements, 🔔 and licensing. To comply, innovate within the law, comply and plan the project.”
3petition exist for a reason: Confront and embrace 🔔 it, as it sharpens and elevates skills. Differentiate your offering and provide what competitors can`t.
Insights of Psycology applied in management:
The 🔔 creation of 83 bets involves many psychological insights and market research to understand better people's behavior and explore their passion 🔔 for soccer and adrenaline. An excellent entrepreneur should research, identify gaps, and enhance human experiences. 83bets focused on out-of-the-ordinary odds 🔔 and predictions, which increased its success.
Market Trends Analysis:
83 bets was essentially "the first-mover" of the product. In Brazil, for the 🔔 first time, we released a dedicated exclusively for soccer app. While competitors adapted slowly, we seized the opportunity, which resulted 🔔 in this space. Technological innovation helps the 83 bets adapt quickly to human behavior, differentiate, and deliver odds needed.
Conclusion:
The 83 🔔 bets met the needs of sports fans who desired an in-play sports betting platform catering explicitly to Brazilian consumers. My 🔔 journey paved the way for new entrepreneurs to revamp and rebrand ancient industries and seize the opportunities that gaps give 🔔 in various markets. Our efforts paid off with a market value of R$ 1.15b and 3% market share. This case 🔔 demonstrates how ground-breaking entrepreneurship fosters economic and professional growth.
