SafeBets, a no-cash-deposit prediction platform, is setting its sights on reaching 200 million users by the year 2030. The company is leveraging the popularity of sports and political events to significantly expand its user base, while it anticipates that financial market forecasts will drive the core value of its trading model.
The platform allows users to make predictions without risking their own funds. SafeBets monitors the accuracy of these predictions and intends to integrate the most reliable forecasts into what it refers to as a Collective Intelligence signal, which partner operations can utilize to engage in financial market trading.
Currently, SafeBets provides forecasts in various sectors, including cryptocurrency, commodities, and major tech stocks. The company plans to introduce predictions related to sports and politics as the November election cycle approaches.
In an upcoming Q&A with Gambling Insider, CEO Alex Konanykhin emphasized that sports and politics represent the most viable avenues for achieving their ambitious user target. However, he acknowledged that these areas are less lucrative for trading compared to financial markets.
“Our goal is to reach 200 million users by 2030, and this can only be accomplished through sports and politics,” Konanykhin stated.
SafeBets' strategy focuses on scaling its operations to identify a select group of users who consistently outperform others in making predictions. For every individual confident in predicting market events, there are at least 100 who prefer forecasting the outcomes of sporting events like the World Cup.
This broader user base will enable SafeBets to pinpoint a smaller segment of highly accurate predictors. Konanykhin mentioned that if just 0.1% of a 200 million-user network becomes top forecasters, the company could have around 200,000 high-performing predictors whose insights could enhance its Collective Intelligence model.
“Unfortunately, while these categories attract the most users, the potential for profit from trading on the collective intelligence of these individuals is limited,” he added.
For stocks, commodities, currencies, and cryptocurrencies, SafeBets plans to have affiliated entities trade financial markets using signals derived from its strongest predictors. Konanykhin indicated that this operation could commence once SafeBets achieves the necessary scale, possibly as soon as next year.
Meanwhile, signals related to sports and politics could be monetized by trading on existing prediction markets. Konanykhin noted that SafeBets could leverage its collective intelligence on platforms like Polymarket and Kalshi, although these markets are significantly smaller than equity or commodities markets.
SafeBets contends that its models operate outside gambling licensing since users do not deposit or wager their own money.
In a demonstration of its international appeal, SafeBets successfully attracted a global audience through its World Cup prediction tournament, which saw thousands of users participating and forecasting various outcomes throughout the competition.
The top three participants hailed from the U.K., the Netherlands, and Colombia, each receiving $10,000 in cash along with Unicoin rewards ranging from 250,000 to 1,000,000 tokens. The company highlighted this contest as evidence of users making accurate predictions on the platform, both in the U.S. and internationally.