PUNTAA'S OFF-MARKET PUNT PAYS OFF
Written on the 26 July 2016 by Laura Daquino
IT all started at a Brisbane bar for wagering startup Puntaa - but not in the way you might expect.
"We see ourselves quite differentiated from what's out there at the moment, where most are pure transactional platforms," says Heaney.
"We are more of a social platform and wagering is an element of that. We do have traditional user that enjoy sports betting, and we form a lot of engagement around that, but the product is opened up to an entire different subset of consumer. We are very focused on who is the core customer - people like Damon and I who didn't even have gambling apps on our phones before this but would always have a bit of a go with friends."
"It brings people together and is actually functioning a lot like a social network where people chat with their friends back and forth about bets," he says.
"It's not about taking money off your friends. We surveyed 200 customers in our early days, and the first problem we discovered was that people weren't getting paid for their wins. With the update, 98 per cent of bets are now being paid out."