Sparket: The Social Betwork™ offering is now closed and is no longer accepting investments.
INVEST IN SPARKET: THE SOCIAL BETWORK™ TODAY!
A Wagering Platform Built For The Modern User
$228,397.03 Raised
Reasons to Invest
- Our platform appeals to broad audiences with user-friendly design and the ability to customize bets against your community (rather than the house), improving the experience for our users.
- In 2018, the Supreme Court overturned the ban on sports betting, and since then it has become legal in 34 states and people have wagered over $100 billion (Source | Source).
- As our free-to-play partnerships gain traction and generate revenue, we have already set up contracts with major wagering businesses, including a year-long engagement with Cahuilla Casino.
OVERVIEW
A Revolutionary Platform Facilitating Live Event Wagering
We built The Social Betwork™, our proprietary pool-wagering system, as a B2B igaming service for our operating partners. Our vision is to help wagering businesses differentiate their products through our customizable platform to expand their reach in the new golden age of sports betting. We are moving beyond traditional sports to underserved demographics by including betting for esports tournaments, private golf events, and reality TV shows.
The Problem & our Solution
Bringing Legalized Sports Betting To New Users
Even as sports betting expands, existing sportsbook platforms underserve significant demographics. We're seeing users often jump from app to app with limited loyalty. In addition, these platforms are not intuitive for new users at a time when many people will engage with sports betting for the first time.
We are democratizing live event wagering by having users bet against the community rather than the house, which holds more appeal for first-time wagerers. Instead, we generate revenue by taking 1% of all bet volume (handle) coming through our platform, plus software and licensing fees. Our platform is designed with no barriers to entry for new users and customizability to help our operating partners differentiate their products. With our self-setting odds system, the operator simply takes a commission on all bets rather than taking exposure on the action.
Any business that is looking to build a community, grow their audience, and deepen their brand loyalty can do just that by choosing Sparket.
The Market & our traction
A Massive Emerging Market and Strong Partnerships
Since the Supreme Court overturned the federal ban on sports betting in 2018, there has been over $100 billion wagered in legal sports betting (Source). In only a few years, the market has grown from only Nevada to 34 states, with major market opportunities in states like Ohio and California, still yet to come online (Source).
We've already had initial proof of concepts in private beta with thousands of users via free-to-play contests in partnership with casinos, golf clubs, and esports tournaments. Our successful trial event at the Cahuilla Casino led to a year-long contract. We've already achieved our first month of 5-figure revenue (August 2022) even before launching our real money partnerships. We also completed the UCLA Venture Accelerator program at the Anderson School of Management.
why invest
Building the Future of Sports Betting
Our patent-pending technology has been tested and we have contracts in place with operating partners, putting us in the position to potentially go live for real money wagering with our expected GLI 33 Certification. We believe this will allow Sparket to become one of the only certified sportsbook technology of its type. We envision Sparket paving the way forward in the newly legalized multi-billion dollar sports betting market, and we've built our platform with an eye on Web 3.0 and blockchain to take advantage of future growth opportunities. Join us, as we democratize the live event wagering industry!
ABOUT
HEADQUARTERS
8 The Green, STE A
VALUATION
$13.21M
Sparket has created The Social Betwork™, an innovative igaming platform helping our operating partners grow their live event wagering volume and reach. We provide a bet-on-anything platform allowing users to place bets within their communities (Betworks), from professional sports to e-sports, reality TV, award shows, golf tournaments, and more. We are currently in-market with our preliminary free-to-play partnerships and approaching Gaming Labs International (GLI) certification 33, which is a major milestone towards regulatory approvals for future real money wagering software. Our technology is patent pending with the USPTO, and is built with an eye on integrating Web 3.0 and blockchain technologies by decentralizing the entire wagering process. This will enable trusted users to provide event metadata and confirm outcomes as we pursue our mission to democratize live event wagering.
TEAM
Aaron Basch
CEO, Treasurer, Director
Evan Fisher
COO, President, Director
Alex Ispa-Cowan
Senior Software Engineer
Matt Brown
Creative Director
Cisco Arias
Technical Advisor
Sally Bernard
Advisory Board, Business Development
Loren Gill
Advisory Board Member
Michelle Gerson
Advisory Board Member
Marcus Yoder
Advisory Board Member
Blue Quisquis
Advisory Board, Native American Relations
Dane Henderson
Advisory Board
Ilia Bulavintsev
TL. Software Engineer
Rael Enteen
Strategic Advisor
Andrew Brandt
Technical Advisor
Robin Richards
Advisory Board
John Wholihan
Advisory Board
Chris Pigozzi
Marketing Team Business Advisor
TERMS
Sparket: The Social Betwork™
Overview
PRICE PER SHARE
$1.25
DEADLINE
Jan 28, 2023
VALUATION
$13.21M
AMOUNT RAISED
$228,397.03
Breakdown
MIN INVESTMENT
$250.00
MAX INVESTMENT
$1,250,000.00
MIN NUMBER OF SHARES OFFERED
8,000
OFFERING TYPE
Equity
ASSET TYPE
COMMON
SHARES OFFERED
Common Stock
MAX NUMBER OF SHARES OFFERED
1,000,000
Maximum Number of Shares Offered subject to adjustment for bonus shares
Company | : | Sofabet Co. |
Corporate Address | : | 8 The Green, STE A, Dover, DE 19901 |
Offering Minimum | : | $10,000.00 |
Offering Maximum | : | $1,250,000.00 |
Minimum Investment Amount(per investor) | : | $250.00 |
Terms
Offering Type | : | Equity |
Security Name | : | Common Stock |
Minimum Number of Shares Offered | : | 8,000 |
Maximum Number of Shares Offered | : | 1,000,000 |
Price per Share | : | $1.25 |
Pre-Money Valuation | : | $13,205,312.50 |
*Maximum number of shares offered subject to adjustment for bonus shares. See Bonus info below.
Investment Incentives and Bonuses*
Time-Based:
Friends and Family Early Birds
Invest within the first 72 hours and receive 15% bonus shares
Super Early Bird Bonus
Invest within the first week and receive 10% bonus shares
Early Bird Bonus
Invest within the first 2 weeks and receive 5% bonus shares
Amount-Based:
$1,000+ | Social Betwork™ Champions
Invest $1000+ and receive branded Sparket: The Social Betwork™ swag and a virtual avatar upgrade (anticipated in 2023).
$5,000+ | Sparket Group Admin
Receive a custom branded group within the Sparket web application where you are the admin: invite your betwork and set up customized wagering pools. Includes admin console analytics.
$10,000+ | Premium Investors Club
Join our existing $10k+ investors with quarterly access to our founding team, input on product direction, and roundtables to shape the direction of the company
$25,000+ | Diamond Investors Club
Access to all of the above perks plus an additional 5% bonus shares
Loyalty Bonus:
Existing platform users will receive 5% bonus shares.
*In order to receive perks from an investment, one must submit a single investment in the same offering that meets the minimum perk requirement. Bonus shares from perks will not be granted if an investor submits multiple investments that, when combined, meet the perk requirement. All perks occur when the offering is completed.
The 10% StartEngine Owners' Bonus
Sparket: The Social Betwork (TM) will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.
This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Common Stock at $1.25 / share, you will receive 10 additional shares of Common Stock, meaning you'll own 110 shares for $125. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.
This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are canceled or fail.
Investors will receive the highest single bonus they are eligible for among the bonuses based on the amount invested and time of offering elapsed (if any). Eligible investors will also receive the Owner’s Bonus and the Existing platform users bonus in addition to the aforementioned bonus.
Irregular Use of Proceeds
The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Salary payments made to one’s self, a friend or relative. Vendor payments.
PRESS
Sparket Inks Strategic Partnership with USBookmaking
Nevada-based USBookmaking inked a strategic partnership with Sparket, an innovative sports betting application. Announced on Tuesday this week, the partnership seeks Omni-channel user engagement, including pari-mutuel sportsbook for esports wagering, and more.
Xpoint appointed as Sparket’s geolocation partner
The partnership will allow Sparket to provide its patent-pending Social Betwork software in a regulated, secure digital environment that meets all state and federal regulations, while also ‘turning the geolocation digital utility into an asset that generates value’.
Cahuilla Casino Hotel early adopter of the Social Betwork™ for the Big Game
The innovative Cahuilla Casino and Hotel has partnered with Sparket's Social Betwork™software to offer free to play wagering pools for the Big Game. Users can participate online leading up to the event and in person on gameday. Sparket offers select partners its software via multiple channels.
ALL UPDATES
01.24.23
Time is Running Out!
Sparket's Startengine campaign closes this week, so now is your LAST CHANCE to invest in The Social Betwork™. Our company and the industry as a whole continues to grow rapidly, and we encourage you to check out the Updates section of our page for a recap of everything we've done since launching our crowdfunding campaign. We've been overwhelmed with the support of over 60 investors and would love to add YOU to the list.
01.19.23
Sparket Selected as a Stadia Ventures Finalist!
Big News! Sparket was selected among hundreds of startup applications as one of ten finalist companies who will make their pitch at Stadia Ventures Spring 2023 Finalist Pitch Day at the Enterprise Center on January 26th! The St. Louis Blues are hosting this exclusive event, and Stadia Ventures is bringing together over one hundred senior sports and esports leaders with investors and business executives to select their Spring 2023 cohort.
Learn more here.
01.18.23
Sparket's Major Partnership with WagerWire!
As previously announced, Sparket entered into a partnership agreement with WagerWire to help expand both companies' innovative offerings. It's a natural fit allowing Sparket to offer after-market trading to our platform. Yahoo Finance recently featured an article about the partnership, which you can read here.
With less than two weeks left to invest in Sparket on Startengine, now is your opportunity to join the 60+ investors who have joined our campaign to help build The Social Betwork™!
01.12.23
Sparket January Release Notes
Sparket's tech team continues to deliver key product updates. Please find below our latest release notes, as we now shift our full focus to our integration with GAN technology to deliver our product into the STN Play app for our partner Red Rock Resorts (NASDAQ: RRR).
January 2023 Release Notes
PrizeOut Integration: Sparket has partnered with PrizeOut, enabling us to offer an automated mechanism for users to redeem their Sparks (digital currency) for real prizes like Amazon gift cards directly within the product. Any of our partners can now utilize this functionality for their free to play contests
Referral Program: Following on to our enhanced social sharing functionality released in Q4, we now have the capability to offer referral bonuses to users who share Sparket with their communities (‘betworks’). When a user shares on social media and someone clicks the link and joins, they are credited as the referrer. Once that new user places their first bet, the reward is given.
Advertising Space: Sparket has launched its first advertising space, allowing partners to embed an image and URL within the application and track traffic and conversions through it. We’ll use this to gather data and for monetization in the coming months.
01.09.23
Sports Betting Industry Continues Momentum into 2023
As we turn the page into 2023, the sports betting industry as a whole continues to see great momentum:
- Ohio was the latest state to go live for sports betting, and initial data show strong volume for the state
- New York, which went live in 2022, has experienced over $16 billion in legal bets and brought in almost $700m in tax revenue for the state
- Up next is Massachusetts, which expects to launch retail and online sports betting within Q1 2023 and become the 33rd state to go live since 2018
With our recent Gaming Labs International sportsbook certification and operator partnerships, Sparket is poised to make waves in this growing industry in 2023. Join us in building the Social Betwork™ today!
01.04.23
Sparket Announces Partnership with WagerWire!
Sparket is excited to announce our latest partnership with WagerWire, an innovative marketplace where bettors can buy and sell previously placed sports bets. Initially WagerWire will license Sparket's bet-on-anything software to promote branded contests and events to their extensive social media audience. Ultimately, there is significant synergy between the two companies, as WagerWire's technology could add a key element (in play wagering) to Sparket's product offering.
12.30.22
Sparket's Startengine Campaign Extended!
We're excited to announce that we've been able to extend our equity crowdfunding campaign into January after reaching over $150k invested across 50+ investors on the StartEngine platform. If you were busy over the holidays and haven't had a chance to check out our latest updates, we'd love if you took a look. We've made some major announcements in Q4 since launching our campaign. Feel free to reach out to us directly or via the comments section if you have any questions.
From the entire Sparket team, we are humbled and grateful for your support. Wishing everyone a healthy, safe, and prosperous New Year!
12.28.22
Notice of Material Change in Offering
[The following is an automated notice from the StartEngine team].
Hello! Recently, a change was made to the Sparket: The Social Betwork™ offering. Here's an excerpt describing the specifics of the change:
Issuer is extending the campaign end date
When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.
12.22.22
What a Q4 for Sparket! Are you in??
Sparket has achieved key milestones across product, partnership, and investment in Q4. We are so grateful for each of you for your support in 2022, and would like to extend a special welcome to our 50+ new crowdfunding investors this quarter. Below is an updated recap of what we've achieved since launching on the StartEngine Platform.
- Partnership agreement signed with Station Casinos (NASDAQ: RRR) to integrate into their 1m user platform (press)
- GLI 33 Sportsbook certification (press) (case study)
- 2022 G2E Innovation Challenge Winner (previous finalist at SBC Americas, Sigma Americas)
- Reached over $130k raised on StartEngine with support from over 50 investors
- Launched key product updates covering enhanced social features, login flow, and automated notifications
- Achieved our second month of 5 figure revenue, with additional partnerships in the pipeline
- The broader industry continues to see significant growth, with major states of Massachusetts and Ohio about to come online for sports betting
Wishing everyone a wonderful holiday season, from the Sparket family to yours <3
12.13.22
US Sports Betting Industry Poised for a Record Breaking 2023
A recent report highlights the rapid expansion and growth of sports betting in the US, with Ohio and Massachusetts the latest major states to legalize sports wagering.
"Looking ahead to 2023, dozens of markets across the country will experience revenue and handle growth leading to a nationwide increase in handle and revenue of 21% and 27%, respectively. In total, PlayUSA expects states to generate nearly $120 billion in handle and nearly $9 billion in revenue in 2023."
With our recent Gaming Labs International Certification and partnership announcements (including Station Casinos - Nasdaq RRR), Sparket is truly in the right place at the right time. With our StartEngine campaign wrapping up shortly, we'd love if you'd consider joining us or doubling down!
Stack Owner's Bonus & Rewards!
Members get an extra 10% shares in addition to rewards below!
REWARDS
$250.00
StartEngine Owner’s Bonus
This offering is eligible for the StartEngine Owner’s 10% Bonus program. For details on this program, please see the Offering Summary section below.
$1,000.00
Social Betwork™ Champions
Invest $1000+ and receive branded Sparket: The Social Betwork™ swag and a virtual avatar upgrade (anticipated in 2023).
$5,000.00
Sparket Group Admin
Receive a custom branded group within the Sparket web application where you are the admin: invite your betwork and set up customized wagering pools. Includes admin console analytics.
$10,000.00
Premium Investors Club
Join our existing $10k+ investors with quarterly access to our founding team, input on product direction, and roundtables to shape the direction of the company.
$25,000.00
Diamond Investors Club
Access to all of the above perks plus an additional 5% bonus shares.
JOIN THE DISCUSSION
0/2500
HOW INVESTING WORKS
Cancel anytime before 48 hours before a rolling close or the offering end date.
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REWARDS
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