Fanvest Wagering Exchange to launch mobile app by H2 2021
Stock market DFS platform also plans to expand into golf and paid contests
Fanvest Wagering Exchange is set to launch a mobile app within the next six months, EGR has learned.
The stock market/DFS hybrid start-up is expanding to mobile after seeing strong demand from its user base for the product.
Speaking to EGR, Fanvest co-founder Fern Murias said the Washington DC-based firm was accelerating its product roadmap to satiate its growing user pool.
Murias said: “By far the biggest request is for a mobile app. So, we have begun development on the app and our goal is to have this ready within the next three months.”
Fanvest has recorded a three-fold rise in both average time spent on site and average number of trades per week by its customers over the last 12 months.
Murias revealed there is also a growing appetite to expand into other US sports, outside of the NFL and college basketball.
He continued: “We’ve seen demand for NBA and MLB products. But surprisingly, we’ve seen the strongest demand for a golf product, so we expect golf to be a major focus for us moving forward.”
Murias also confirmed the platform was planning to launch paid content, representing a significant move away from its DFS roots.
Murias said: “The next kind of big hurdle for us is we’re about to launch paid contest. The big objective is converting our user base from a free-to-play beta users into paying customers on the product side.
“Over the next six months, we are going to develop and launch a mobile app, roll out contests across three new sports and then over the next 12 months use that product development to significantly grow our user base,” he concluded.