New fantasy sports app launched by Singapore team

A Singapore-based company has launched a new fantasy sports app titled SportsHero this week in an initiative which allows sports fans to make predictions on upcoming games with virtual currency wagers.

Skirting around actual gambling operations, the app enables users to make money by getting others to subscribe to its tips for $2 per month. The revenue for subscriptions is then split 50:50 between SportsHero and the user.

The app is made by the same team as Singapore-based TradeHero, a virtual trading app backed by more than $10 million from investors, according to local media reports.

Dinesh Bhatia, CEO and founder of SportsHero, said in an interview with TechCrunch that the top users at TradeHero have hundreds of thousands of followers and make money from the service…and he believes that the same is possible for SportsHero.

SportsHero already has around 250,000 users, and has secured $2.4 million in investment from Australia-based Nevada Iron ahead of an Australian IPO in August.

Bhatia says the Aussie the listing can help SportsHero grow in Australia, where fantasy sports is an increasingly popular product.