Low6 provides a white-labelled mobile platform to sports teams/franchises that enable them to offer a pooled sports betting experience to users of their fan- based apps. The Company’s directors believe there is a significant market opportunity for sports betting products that are designed to enhance the excitement of watching sports whilst, at the same time, being engaging and simple to use.
Under its B2B business model, Low6 will enter into a partnership with a sports team or franchise which enables the Low6 product to gain access to the partner’s established fan base thereby reducing customer acquisition costs and strengthening brand and customer loyalty, which ultimately enhances customer retention. At the same, Low6’s business model enables the underlying partner to share in the revenue generated from the Low6 platform, an aspect which should be particularly attractive to fans of the sports team or franchise concerned. Low6 can either embed its platform within a partner’s app or build the app for its partners. The Company believes that this partnership model is also highly scalable and Low6 expects to generate revenue from retaining a percentage of the stakes placed by the users of the platform.
Low6 already has several contracts with sports teams/franchises, including football clubs in the UK Championship and Scottish Premiership leagues. In addition, it also has partnerships with Sky Business and Yinzcam Inc.
Low6 has a three-year exclusive partnership with Yinzcam Inc, a US-based company which provides the apps for a number of the fan bases of leading sports teams/franchises with over 90 million installs of its mobile apps worldwide. It is currently involved with more than 190 professional teams, leagues and venues in the US, Canada, Spain and Australia. This relationship provides Low6 with access to this extensive client base. Low6 has also been working with Sky Business to develop a digitalised pub quiz product called Pubwars.
Low6 has raised over £8 million to date and plans to raise more funds through a pre-IPO funding round with a view to completing an IPO in H1 2021.