30th of March 2012 Author: Johnny Karp
GrabFan legally safe for new sports prediction enterprise, claim the founders
According to American entrepreneur Steve Smith, co-founder and CEO of a new social gaming online enterprise branded GrabFan, his new concept combines US legality and a winning business model - he describes it as a mobile social sports gaming app that enables users to create real-time sports predictions using a virtual currency, which is then redeemable for real rewards.
Currently, iPhone and iPad users can try out GrabFan, but an Android version will arrive soon. The app allows players to test their sports knowledge and wager virtual funds on the result. The virtual currency is called 'GrabBucks' and it can be invested in real-time custom sports bets. On the other hand, players who seek to have more engaging fun can join the action dubbed 'Fandom', which is tracked on team and community leaderboards, in one other way - by answering trivia questions: either on historical facts or daily-generated questions about the outcome of recent games or events.
The company also specified that GrabBucks can be immediately redeemed for various rewards and fan experiences, such as discounts at participating bars, sports merchandise, and even lower box tickets to a 2012 San Francisco Giants home game.
Finally, the app will let users create customisable challenges in real-time, to which they can invite their friends or to the community at large. The challenges are based on a statistical category and time period.
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