I am still debating whether to take part in this ICO, but with so many of them just coming and coming, I don't believe this is sustainable. Also this sounds like a cool project but will people want to use it?
thank you very much for joining and for taking your time in reading our whitepaper. This is a great question and I will be very glad to answer it.
In each european state, the revenue for lotteries, games of chance, casinos and betting that grant a minimum chance of winning(we are talking as low as 0,00000001) was, in 2016(per state) of approximately 90 Billion Euros . Our Mechanism, even not configuring itself as a lottery, targets people who are prone to risk. I take italy for an example because it was one of the most prominent results in our market studies.
Italy has a population of 60 millions people, of which, 30 millions are assiduous gamblers and spend over a year from 1500€ to 5500€ pro capite in the kinds of games described above. We’ve accurately selected our target audience and the estimates you find on the whitepaper are a result of a study that starts in 2012.
The sustainability of our business model lies its foundation in these 3 facts:
1 - As the saying goes, and as our studies have shown, Everybody loves a bargain
2 - There is a large percentage of risk takers in the population of each state in which snapup wishes to operate
3 - Our mechanism is calibrated to allow an healthy turnover and keep the interest high both for the ones who are, and for the ones who are not yet winning the auctions.
Furthermore, our business model and our margins allow us to distribute incentives among participants. This, combined with the current state of our competitors, and the technological advances we want to bring in the market, makes us very confident on the power of our value proposition
