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Exclusive interview with Richard Owoyemi – Founder of Peer Gaming about peer-to-peer betting products
Today we are speaking with Richard Owoyemi, Founder of Peer Gaming. PeerGaming is a software technology company that develops only peer-to-peer betting products. Their vision is to put their revolutionary games in the hands of every reputable gaming operator worldwide. Their flagship product, X-LEAGUE, is destined to become the ultimate complementary product for fixed-odds wagering. And they’re also devising proprietary gaming models that they intend to use in creating an armada of gambling products. PeerGaming is a UX-first startup that plans to gain market access through a leading betting product supplier in the gambling industry. They strive to be creative, optimistic, and persistent in their aspiration to build a global hub for peer-to-peer betting products. betting software providers to supply gaming operators with novel and established social betting products.
GA: Tell us about the idea behind PeerGaming.
RO: The idea behind PeerGaming was one of the blessings in disguise moments we had during the planning phase of X-League.
We were concerned about the enormous marketing costs it would take us to promote X-League in the US and international markets as a B2C company. Also, competing against established operators in different jurisdictions seemed to be a problematic approach to global expansion.
Lottery manufacturers ultimately inspired our go-to-market strategy. Like them, PeerGaming aims to consolidate the strength in the number of operators or retailers in different betting jurisdictions to manage interconnected product operations.
As a B2B supplier of crowd-powered products like X-League, Daily fantasy, Exchange, and many more, we hope to create an omnichannel for these products to receive player entries from several online and offline destinations for profit share.
GA: You say you came up with X-League because of problems you had with gambling yourself. Can you tell us more about that?
RO: Although we approached our creation from differing viewpoints, I believe Pierre Oller, Andrew Black, and I were captivated by a similar frustration. And while Pari-mutuel and betting exchanges are impressive solutions to our shared frustration, they partially complement fixed-odds betting.
Parlays were my favorites until too many bad beats made me lose interest in sports betting. Luckily, when I got a flash of insight into an idea that would interest my then WhatsApp group members and me as an alternative to parlay betting. I pursued it obsessively.
X-League completely complements traditional sportsbooks. I imagine the unusual entertainment benefits of the cross-play option between X-League and traditional fixed odds makes both products a must-have for future operators.
GA: Do you think social p2p betting is the future? And will it complement traditional fixed-odds betting or replace it?
RO: Most people perceive any betting product involving two or more people competing against themselves as a fairer way to bet, so it’s easy to predict that social betting products will be dominant in the future.
However, gaming operators in various betting jurisdictions must consolidate their online and offline marketing muscles to drive these products’ network effects to their highest potential.
For one and a half centuries, traditional fixed-odds betting demand has remained strong even though many have hoped to replace it with Pari-mutuel or Exchange. I’m sure its demand will continue to grow, and its relationship with social betting products is complementary.
GA: What’s your roadmap? When will I be able to join the X-League?
RO: We’ve completed the planning and designing phase for X-League. And we are currently
looking for partners needed to commercialize X-League.
I don’t know when X-League will be live, but we will see once we’ve secured a leading betting software manufacturer to execute our visions.
GA: How do you plan to market PeerGaming to operators and players?
RO: We will let operators and players know they can always count on us for innovative and
entertaining betting products involving a competition between two or more people.
We would show operators how our product supermarket will expertly help them attract and convert loyal customers and offer our players incredible features with games that improve their chances of winning or being entertained.
GA: Will PeerGaming make sports bettors celebrities?
RO: If you agree influential bettors should be eligible for endorsement deals, you’d probably like this part of PeerGaming.
PeerGaming would have a ranking system, social components, and tournaments that could help players grow their influence and followers.
We envision a world where influential bettors too can become brand ambassadors like sensational YouTubers or Instagrammers.
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