What is FOOTSTOCK?
FOOTSTOCK is a new football gambling app.
their mission is to make your life as a football fan even more exciting.
FOOTSTOCK is like a combination of Fifa Ultimate Team, Football Index and Fantasy Premier League all rolled into one.
You build your team, trade players for real cash and use them for Fantasy Football Tournaments on match days. Also we have a built-in casino where you can use your players to gamble for even more players.
What is Footstock’s business model?
Footstock make money by selling the player packs. They use some of that money to pay for free roll tourneys (guaranteed prize pool tourney will only cost us if not enough players register), rewards (when users complete certain actions) and for trading on the market (offering to buy back shares).
The money left after all that goes to their company to cover costs or as profit (when all costs are covered).
At a later stage they will offer a subscription model and might switch to charging small transaction fees.
Why should people use FOOTSTOCK?
You can make money AND it is a fun game to play.
How to make money on FOOTSTOCK:
Earn Money in their online tournaments:
They offer Fantasy Football style tournaments on all matchdays.
The rules are simple: you pick 3 of the players you currently own and pay a buy-in price into the pot.
The Footstock scoring system awards points for the actions your players take in ‘real games’ on a matchday. If your players score more points than anyone else -you win the pot.
Most tourneys have guaranteed prize pools, and there are several freeroll tournaments every week including ‘Pro Level freerolls’ with £50 (or higher) prize pools. The 3-a-side tourneys are just the most simple form we are going to offer at the start. There will be many more fun things there: 5-a-side, 11-a-side but also tourneys that only allow players that are over 33, or tourneys that only allow players that have not scored yet etc.. we want to offer a very, very fun product.
Earn Money On The Footstock Market
This is football’s version of the FTSE index where you get to trade player cards with other fans.
The better a player performs in real-world Premier League games (according to our scoring system) the more money he makes you in tourneys. And the market knows – so, find the next Salah, Aguero or Kane early, get him in your squad - and watch his price go through the roof.
How to Earn Money in The Footstock Casino?
Another unique feature is the Footstock Casino.
Eventually, there will be loads of games here, but we’re opening this feature with STAT ROULETTE. It’s easy, fast and fun, and you can win great players in seconds.
Just pick one of your player cards, and the bank randomly selects an opponent player card and a competition stat (e.g. goals). If your player has the better value (e.g. your player has scored 3 goals and the other guy has only 1) you win the opponent’s card. If the other guy wins, you lose your card.
We want to be a gaming app rather than an investment app. Sure, we have that trading aspect but we want you to feel the thrill when you open a player pack, when you roll the dice in the FOOTSTOCK casino and watch your fantasy footy scores. Also we tried to incorporate many gaminifaction aspects, mainly the “reward journey” that all users go through.
Can you explain the FOOTSTOCK reward journey?
We will give out rewards for users that complete certain challenges on Footstock. Example for challenges: "Buy your first pack.“ „win your first Amateur tourney“ „own all the players from the current England Squad“ „Own all players from the London Clubs“ „own all of last seasons goalscorers“ etc.. And possible rewards „get one free spin in the Footstock Casino“ "get a deposition bonus 100% up to £100“ „get a free entry ticket to a Pro tourney (worth £50)“ „get a legendary Alan Shearer 1995 card“
What will dictate player prices?
On Football Index, dividends underpin the value of players.
What underpins the value of players on FOOTSTOCK?
There is a detailed answer to this question here: https://docs.google.com/document/d/1FJZ3WxxKvO7XOYyI41BFx97Oal7pFvdBWlG1eB3358w/edit
But The short answer is:
Instead of dividends The you offer access to freeroll fantasy football tourneys: tourneys in which your players can earn you money and you do not have to pay anything to partake.
Prices are determined by the users` willingness to pay for certain players. That is determined by a variety of factors including the costs of obtaining that player from the house.
What are player classes in FOOTSTOCK?
Players are ranked into 5 classes via their overall performance score: Legendary, Epic, Rare, Common, Basic. The better a player performs, the rarer and more valuable his cards become.
How do I purchase players when the platform launches?
You buy them in the market from other FOOTSTOCK traders. You can earn players as part of the reward journey. You can win players in the FOOTSTOCK casino. Or you can buy player packs from the house. We will offer at least 3 kinds of player packs at the start. Bronze, Silver and Gold.
How much will these packs cost and what will I get in them?
Bronze pack: Will cost £2.99 after launch and contains on average 3.2 Basic players, 1.7 Common players, 0.1 rare players, 0.002 Epic players and 0.001 Legendary player.
Silver pack: Will cost £9.99 after launch and contains on average 3 Basic players, 1.3 Common players, 0.5 rare players, 0.2 Epic players and 0.01 Legendary player.
Gold pack: Will cost £49.99 after launch and contains on average 1 Basic player, 1.5 Common players, 1.2 rare players, 1.1 Epic players and 0.2 Legendary players.
During the crowdfunding campaign, the terms are more favorable: Users get more good players on average and are guaranteed to a minimum number of players per class. Our plan is to gradually increase the prices of the player packs. Next season and next year there are scheduled price increases of 25%. And we are already increasing the prices during the crowdfunding campaign. Our first “Mr. Diamond” perk was sold for €893, we now offer it for €1,120.
We follow this pricing strategy because what we (as “the house”) charge for a certain player impacts what you (as “a trader”) can charge for the same player from other traders. This way, we can nicely reward the users that had the courage and trust to join early.
Do you think your focus on so many different areas may lead to technical as well as marketing issues going forward?
I`d have to ask our genius CTO Oliver if ever had any worries about the technical side. From the marketing side, I did have that concern, yeah. But it turns out, people love the mix of elements they already know. We get a lot of feedback like: “Oh that’s cool. It`s almost like Football Index and FUT.” “That’s like Panini meets FPL. Love that!”
How do you intend to market the product and how big is your budget to do so?
We will focus on online marketing: Twitter, Facebook/Instagram and particularly affiliate marketing: We want our users to spread the word and profit from it. I get quite a few questions about our marketing budget. I think it is because people would not like to invest now and fear that we might fail to grow after launch. While the size of our marketing budget is a company secret, let me two things about this:
1) Look how much we could make out of that low budget Indiegogo video
2) The €5,000 funding target of the crowdfunding campaign does not reflect the size of this venture. Getting the model right, legal questions and coding cost a lot more. We wouldn’t run this whole thing if we didn’t have sufficient funding for the time after the launch. Also our Indiegogo campaign makes a strong case for future investors.
How would you respond to people who say this is a scam?
FOOTSTOCK is not a scam but a product that is supposed to excite its users for many years to come.
When we got our remote pool betting license (=Fantasy footy license) from the Gambling Commission last year, they gave us a very thorough checkup: Several proofs of ID, Proof of funding, proof of incorporation, a lawyer’s confirmation that our T&C are fair and much more….with German documents translated into English by official translators and certified by a notary (yes, the founder is from Germany and the CTO is from Austria =))
I want to reach out to people as much as I can and talk to as many (potential) customers as possible to show that we are not “some kind of online scam” but actual people. We want to be recommended and have the word spread by our innovators and early adopters.
On your platform I can only purchase players who are in the Premier League, what happens if these players leave the Premier League?
You keep your player card and it will still be tradable and usable in the casino. But you won’t find fantasy football tourneys in which to use them. You can again use them in tourneys in case the players moves back into the Premier League.
From the feedback we have got, we feel that this is an issue that we should quickly target and we have a few ideas: instant sell function, reward driven incentive to own the player or cross national fantasy football tourneys to name a few. But none of these is currently implemented.
If necessary, how quick and easily will I be able to withdraw my funds?
We have to check withdrawal requests as part of our commitment to fight money laundering, fraud and cheating. Automated mechanisms will help us with that but at the start, we will have to do this manually. So at the start, we set a 2 week timeline to check and execute withdrawal requests. But as we know nobody likes to wait for their money so in order to get happy customers, we try to be quicker than that.
Why did you choose Indiegogo to host your funding campaign instead of a more trusted platform?
Indiegogo is among the biggest and most trusted crowdfunding platforms in the world. https://www.inc.com/larry-kim/op-10-crowdfunding-platforms-of-2018.html. Kickstarter does not allow campaigns for gambling / betting products but Indiegogo does. Also Indiegogo offers flexible funding which means that the backers get their perks even if the funding target is not met. Fortunately we never had to make use of this, with our campaign currently at over 700% of our funding target.
What sets you apart from Football Index?
We know and like Football Index. Their success shows that people quite generally like the idea of trading players. But we wanted to create an app that has a much stronger gambling side to it. While you can trade players on both platforms, Footstock is more for gamblers (with RNG elements in the Casino and in the process of buying players in packs). We want to be less of an investment platform but more of a gaming app.
Also we do not pay out dividends but the market is driven through the fantasy football tourneys. We think many people will enjoy using both platforms. It’s like when you drive a Mercedes (FI) you might also want to buy a Porsche (FS). If you think you`ve found the next Harry Kane, we recommend you buy him on both platforms.
When are you hoping to launch?
We are very close to launching, just a last few things to sort out. We hope to get everything sorted before the end of March, maybe it is going to be April.
What are the benefits of backing you before launch?
There are 3 benefits:
1) You help the cause and become part of this cool new thing that is happening right now.
2) You are guaranteed to get a certain number of players from the best classes. E.g. if you buy a Gold pack now, you are guaranteed to get at least 1 legendary player. After the launch, you get an average of 0.2 Legendary players in a Gold pack.
3) you pay less than after the launch (even more so next season and next year when we plan to raise pack prices in two steps to further reward early backers).