Indians are highly opinionated when it comes to Cricket, Politics and Bollywood – most of us have opinions on these topics and of course, our million dollar worth of advice as well as “winning formulas” to players/politicians and stars.
That’s the emotional aspect LordsofOdds is trying to exploit.
LordsofOdds is a market based game where users can trade predictions of Sports, Entertainment Politics using virtual money. The core idea of the game is to harness and showcase the wisdom of crowds through the fantasy game on sports, entertainment and current affairs.
The game is built upon the concept of Prediction Markets which is gaining more and more credibility with each passing day as one of the most efficient forms of information aggregation and thereby a very effective forecasting tool – sometimes more effective than conventional methods and quite a few reputed organizations in the world are using it for business forecasting (e.g. GE, Microsoft, Google, Arcelor Mittal etc.)
Everybody starts with virtual money worth 100,000 and starts making predictions. One can trade points for any sort of prediction (i.e. whether you want to predict who will win MTV Roadies, or the outcome of to-be-held lok sabha elections.
The winners are rewarded through site’s leaderboards and cool prizes.
LordsofOdds is definitely an interesting concept, and the team (both IIM passouts) have monetization plans in place – right from branded contests to ads.
Here is my initial feel about the site:
- It’s not really easy to understand the entire concept in few seconds (for e.g what is shorting? league?).
- Viral appeal – the site will have to bank on user’s inviting their friend in this game. I don’t see the viral seed now.
- Too image heavy – and even the design has focused more on google ads, rather than showing the product’s cool quotient.
Overall, this concept has a lot of opportunity in India and LordsOfOdds is surely an interesting product to watch out for.
Do give LordsofOdds a try and answer just one question – Are you game for this?