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Forecasting App

Nigeria
Market: Internet and IT, Information and media, Computers, office equipment, Artificial Intelligence, Mobile applications
Stage of the project: Prototype or product is ready

Date of last change: 28.12.2017
Min investment
$  1.000
0
Total required
$ 20.000
Rating
equalizer 226 из 1000
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Also this project:
- is seeking a loan

Idea

Our software can be used to perform series of complex search on past event result lotto to help lotto forecasters win the lotto. This is different from lottery that need minimum of 5 numbers to win as lotto needs minimum of one number to win a basic 240 odd stake out of 90 numbers.This is a project that has been channeled to reap cash from the gambling community which is so huge in West African and in Nigeria due to the recession kicking in and the poverty level.

Current Status

We have about 35 features for prototype of the App and we are only releasing 15 of them as first version for general basic form of forecasting. This spans through the West African countries where 5/90 is played. So we intend to add updates quarterly to show our clients new forecasting ways. This was a research carried out 8 years ago and has spanned into advance search modes which our research team discovered after visiting these countries to learn their forecasting style and write a software to get it done.

The reason we seek for funds is that the prototype is for desktop version which we want to further enhance for commercial consumption and also develop the mobile versions so that we can launch the both together. There are more markets for the mobile version than the computer version which limits the user to own a PCs. This we have marketed a lite version of the software on one one one basics to see what the people feel about the software and also post free analysis on our Facebook page. The response has been awesome as potential users can’t wait for the release of the commercial standard version.

Market

Our project is based on 5/90 lotto forecasting which has been in existence in Africa early 60’s. The Lotto gambling has span into countries like Togo, Nigeria, Benin, Ghana and Liberia to count a few as the main market for this product. The targets are majorly the mobile users as they are more than the PCs users. We have easy go to user already hungry for this product as gambling community like https://web.facebook.com/lottobigwinners/ on facebook houses over 214,000 prospect clients. The overall prospect client in the west African region is over 5 million.

Problem or Opportunity

The issue here is that the lotto stakers are saddled with the problem of searching through Lotto past results magazines for pattern and number matching which can between 500-120,00 lines of lotto draws, this they buy weekly to match recent event using different methods to forecast at least one or two numbers to win, unlike the lottery gambling that you can only win with minimum combination of 5 numbers plus a bonus number to win the jackpot. The lotto seems easier to stakers than playing the lottery which don’t sell in this part of the world. This search through these local lotto magazines are very tedious and time consuming as they search line by line for hours before they get to see whatever pattern they are looking for. Our software has simplified their worries to matter of seconds using our app.

Solution (product or service)

The company is into creating custom software to solve issue e.g like Rigging detection software like Vote Vigilante is one of our product. Just like we want to go into commercializing the LottoForex app for solving the traditional ways lotto forecasters has been forecasting which is time consuming with low result turn out.

Competitors

Just some bunch of jokes here and there that can't perform a basic search with their app. You would be shocked to know that there are none in this field that has a lotto forecasting software that forecast the 5/90 Lotto the "African way". We are at forefront of the burner. A simple research in Ghana randomly will make you understand that no software has that capability presently, unless the once whom have seen our product facebook fan page will refer to us only.

Advantages or differentiators

We have about 35 features of the app and we are only releasing 15 of them as that is what the clients understand in general form of forecasting. This spans through the west African countries where 5/90 is played. So we intend to add updates quarterly to show our clients new forecasting ways. This was a research carried out 8years ago and has spanned into advance search modes which our research team discovered after visiting these countries to learn their forecasting style and write a software to get it done.

Finance

We intend to generate revenue by charging for monthly subscription access for users using the software. Our Projection charge would be about $3.50USD for mobile and $6.99USD for Pcs users monthly, the weekly Lotto past result magazine are sold for $2USD X 4 =$8USD monthly with no guarantees as they are past result content only with few suggestion numbers. This software has the tendency of generating over $2,000,000USD within 2years if better awareness and planning is done. This is why we are confident to sign a 1000% buyback deal within 2 years with our investor. Just imagine us getting only 50,000 clients in worst case scenario for six months, multiplied by $3.50USD =$1,050,000USD which pays off the loan.

Business model

This involves solving the problem these set of people face with App speed to safe time and also give them better opportunity of winning the lotto by releasing update to the software quarterly by adding extra features search patterns due to our research. This we already have to serve their taste for 5 years. More so, give a kind of user experience with our app that creates a form of addiction in a psychological manner where by the clients begins to miss something if they don't use our app for a day.
We also have a strategy to reward the best forecasters monthly as the app is tied to a forum of like minds, where forecasters can share ideas and learn how to win big and also stakers without forecasting experience can just use the app to view numbers to stake.

Money will be spent on

The money will be spent on enhancing the prototype desktop app to more beautiful UI/UX and also the development of the mobile version for IOS and Android market using existing C# code via Xamarin, so also advert costing in the West African region for more awareness through social, radio, Tv and print medias.

Offer for investor

We are offering a 1000% buy back within 2 years on the loan.

Risks

The risk is just that money has to be pumped into the business at the early stage where no return would be expected for at least 6 months. That is 3 months of commercial development module for mobile device target and 3 months freebie usage for the clients.

Incubation/Acceleration programs accomplishment

We have not attended any but thinking of attending the tech startup in Bauchi, Nigeria this year 29th to 31st of December.

Won the competition and other awards

The award we can say we won is the clients clamouring for the release of the app as we give free screen shots of different searches to them on facebook so that they can see what the app is capable of doing and also win. The feedback has been awesome
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Idea
Current Status
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Solution (product or service)
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Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
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Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
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