Sweepmate has launched in the UK market, a real-money prediction app aiming to plug the gap left by DraftKings.
The business was set up by Lloyd Bidder, an assistant director at EY, and Johnny Barnes, who founded the Soho Juice Co in 2014.
Sweepmate was granted Gambling Commission licences earlier this year. The firm has held pool betting and linked gambling software licences since 27 March.
The new product is available on both iOS and Android and offers players “the excitement of fantasy sports and the strategy of trading to give players a unique way to engage with events”.
It launches with Premier League predictions, with plans in place to offer other sports and events over the coming months.
Players win by making successful predictions throughout the Premier League game week.
The scoring method sees Premier League teams ranked on goal difference, goals scored, shots on and off target and red and yellow cards.
The prize pool is then split with 50% awarded to the team finishing in first, 20% to the team in fourth and 30% for the team last.
If fewer players choose the same team, the winnings are bigger. If no player picks correctly, the prize pool rolls over to the next round.
On the launch, Barnes said: “The ambition is to fill the void that DraftKings have left with a novel, original game.
“The format can apply across almost any sports and entertainment event – from the Euros to Eurovision.
“Sweepmate is simple: pick three teams and if they finish first, fourth or last then you win. No new teams are minted 90 minutes before kick-off, so there’s a great scarcity value and you can buy or sell teams during the gameweek.
“Sweepmate is not a bookie as we don’t set odds or take a position. Because we’re a pool-based game, we want people to win and we try to provide as much information as possible to players.
“It’s about adding an extra layer of excitement to the Premier League and giving players a reason to stay invested in every result.”
DraftKings pulled its daily fantasy sports product from the UK market in October 2024.
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Sweepmate co-founder Johnny Barnes says pool-based product aiming to fill the gap left by DraftKings following its UK exit in 2024
The post Real-money Premier League prediction app launches in the UK first appeared on EGR Intel.