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MVP: Maybe Viable Products
Powerball, but transparent, online and better for humanity
Everyone plays once, you see exactly where your dollar goes, and there’s a designated pot for the charity of your chosing.
Wouldn’t it be nice to save the world AND get rich in doing so?
I was at my nephews basketball game when a lady came around with an easter basket full of cash and orange tickets. She wanted $5 for a chance to win the 50/50. It’s a reasonable ask. For those that want to win cash, your chance is as good as any. For those that don’t like gambling, there’s the 50% that’s guaranteed to go toward the medical expenses of a yound boy in town battling cancer. At best you win grocery money for a couple weeks. At worst, you donated $5 to a worthy cause. Benefits: win-win sales pitch, feel good contribution, transparent breakdown of dollars Issues: Most people had no cash on them, one guy bought 10 tickets which brought everyone else’s chances down in way (statistics people, chill). The 50/50 is scaleable, and for the sake of this idea, we’ll ignore the obvious boundaries of gambling laws (much like Uber ignored medalion laws in NYC). The idea is simple: users contribute a set amount, let’s say $1, and opt-in leading up to the draw once a week. At the time of drawing, someone wins the jackpot. Cool, sounds like the powerball. BUT take a step back.
When a user contributes $1, they also make a couple key choices. Each $1 is being split into 3 buckets: the prize pot ($0.35), the charity pot ($0.35), and the development pot ($0.30). The charity bucket is filled with user-suggested and voted charities from any/all sectors. Once a charity is verified by Spring, it is aded to the bucket. Each user gets to choose the charity that gets their $.35/wk. Users can advocate on behalf of their charity, simply sharing a link to sign up and start contributing to that cause on any platform.
Once the user chooses a charity, they can chose how they would share their winnings if they hit the jackpot. They can opt to take it all, to give it all to their charity of choice, or to split it amongst a certain group of users. You can set up a friends group or a family, and the winnings will be automatically ditributed if one of you hits! Finally, the tranparency aspect. This begins by laying out exactly where the money you are contributing goes. But after contributing, you will be able to see real-time numbers representing key data sets, such as how many people are playing, what you stand to win, what your odds are, etc. Beyond the draw, you can see how close you were to winning, how much your charity received that week, or practically any other number you wish to see (that we can legally provide). Overall, this one has a lot of variables, and seemingly endless options to play with in terms of gamification, data viz, virality, and more. It’s possibly one of the more plausible ideas that I haven’t invested enough time in, so I might circle back at some point. It’s an ambitious one, to say the least.
General disclaimer: Ideas posted on here have not been vetted by anyone. They are just thoughts, not to be considered finished or even reasonably developed. Some may even overlap with existing products that I just don't know about yet. Sometimes, I put it in writing just so my brain can let go of it. In any case, feel free to grab an idea and run with it. I have no legal claim.
© Tanner Panetta 2020