No-cost online sports betting

A young team of program designers in Norwich, UK has raised GBP 150,000 in funding, having developed a new app that offers sports punters the excitement of gambling without the cost.

The Bet4F team has combined elements of social gaming and sports betting in the app, which allows punters to bet on matches and events of their choice using free credits that are distributed daily, and offer the opportunity to win prizes.

App users have to watch a short advertisement each time they bet, which is how revenues to operate the site are derived. Incorporating a social gaming element, the app has a leader board through which users win prizes and can challenge their friends in personalised leagues.

Bet4F founder Jonny Steventon told reporters that the app raised GBP 150,000 through the Seed Enterprise Investment Scheme ahead of its launch this week.