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Mike Johnson March 25, 2021 3 min read
A Conversation with Lebom: “There Is Nothing Like It in the Ecosystem”
Lebom is in the business of social and recreational betting. Similar to fantasy contests, Lebom plans to make the for-fun betting experience between friends more accessible, safer and socially responsible. The platform brings friends together and friends alone can set the betting limits, sizes of wagers and try to pinpoint the successful outcomes of their preferred soccer contest.
Lebom started as a project hosted by friends who wanted to add some friendly rivalry to their work place and ultimately secure bragging rights. Today, the platform is aiming much bigger, hoping to replace some of the traditional sports betting contest and create new, safer betting environments.
Lebom is tailored to sports fans that take sports betting recreationally and love to bet against their friends.
Q: The idea behind Lebom is very clever and its origin story, interesting. Where is Lebom standing today in the sports betting ecosystem?
The ethos behind the US fantasy market is probably the most similar, and you can see common ground with elements of Sky Bet’s Group Bet and Super 6 products respectively, but fundamentally we are not the house and have no ties to a house! With our unique gameplay and proposition of controlled functionality for private groups only, there’s nothing like Lebom in the ecosystem.
Q: Do you reckon this form of betting can eventually gather enough momentum to rival some of the bigger bookies out there or is it more of a niche market?
Rival, even beat, for volume of active users? 100% Rival for gross stakes and profit – no chance. Well not in the UK anyway, we reserve the right to beat them on both metrics globally!
Q: You argue that Lebom creates safer betting environments. Do you reckon friends can end up at daggers drawn over a losing streak?
Well we hope so! The euphoria of getting one over your mates and taking the bragging rights is core to the experience. In terms of who’s in your group then it’s reflective of life – you choose the social circles you interact with.
Q: We agree that the social element in sports betting is what keeps players in checks. Do you imagine traditional sports bettors trying such social experiences together?
Hardcore gamblers aren’t really our target market – it’s much broader than that, more akin to the office sweepstake. That said, early feedback from a few characters who do gamble regularly is they love it – it delivers on match interest, excitement & there’s a pot to be won … and like our broader user, having a laugh with their mates in the process makes it.
Q: Can Lebom also be a meeting place for people who don’t have many friends who are interested in sports betting?
No. I mean, people might use it as a tool to develop team bonding in the workplace like I did when I created the concept, but personal invitation to join a group delivers to our brand principles.
Q: What are you hoping to achieve this year with Lebom?
Now that would be telling! We’re ambitious and brand recognition is a focus.
Q: What is the biggest challenge Lebom will face in adoption and popularizing the platform?
As with any app, it’s recruitment. We are more than confident that after playing once, our retention rate will be market-leading; that’s certainly what we’re seeing from our testing phase.