Type: Service
Potential Revenue Stream: $$$$
Pitch: I would consider many friends I have, myself included to be gambling junkies. And I don’t mean that to be negative. They’re not wagering a 2nd mortgage or the papers to a car in Vegas. They’re very much into the risk and reward of the game. I’d also be willing to bet (pun intended) that most people have a gambling mindset, even at the most micro level. Gambling with any decent amount of money can be nerve wracking and unrewarding. Even I have I opted out of $30 fantasy football leagues because it simply wasn’t worth it. But what if it was smaller than that? Micro, even? My parents can be found at penny slots from time to time and I wouldn’t consider them gamblers in any sense of the word. So let’s leverage that “it’s only a few pennies” mentality.

Let’s create a service that let’s you gamble with pennies. Think, when you buy a iTunes gift card for $20, there is always $0.57 left after buying 18 songs. Let’s allow users to transfer that change in to an account that you can play with. But with that penny mentality, let’s cap the wager amount at $5 with the hope that it will attract even the novice of gamblers. And the betting may not have to be about sports. It can be about simple things like the weather. Let the interface be simple and transactional. May be even a voice-driven chat service where one could say “Hey , I bet Tom a quarter that it’ll take me 15min to drive home today.” Not only would it sync with my contacts to know who Tom is and verify he has $0.25 in his account to play with, but it can determine the winner based on my device (i.e., it would know how long my drive time was).

Disclaimer: These are original ideas by yours truly. When the “lightbulb” switched on, I didn’t have the resources or expertise needed to see them through. To keep knowledge sharing alive, I share them for all to read. Does this product or service already exist? Do you have feedback or industry insight? Are you interested in developing this idea? Leave a comment below or mention me on twitter. #Cheers

Photo: Theo Curmudgeon via flickr

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