New prediction site YesOrNoLive.com sets to disrupt research and media spaces
YesOrNoLive.com, a startup which enables Nigerians to predict the outcomes of news stories and earn cash rewards is set for final launch, after having successfully undergone series of tests in the past few months.
The prediction site consists of a Daily Jackpot section, where winners earn cash of 5,000 naira and 10,000 naira, every day and another section known as Category Events, where registered users (or predictors) can forecast the outcomes of news stories in categories such as Entertainment & Lifestyle , Sports, Politics, Business & Economy and General topics.
According to Dele Ogundahunsi, Managing Director/CEO of Inventrica Multimedia Limited, owners of the prediction site, “while the Daily Jackpot consists of simple YES or NO quizzes and brain teasers, the Category Events allow registered users to make YES or NO predictions on the outcome (in the near future) of specific events or news stories. predictors could either win or lose, based on eventual outcome of such events or news stories.”
At yesornolive.com, all events or games are based on media/news reports. Before registered users make YES or NO predictions, they can read up more information about such events from external links provided on the site. Predictors can also calculate how much cash they might win, using a calculator on the site, though most times, actual earnings depend on total number of predictors and actual stakes available on a particular game, at any given time.
According to him, “more than this, YesOrNoLive is changing the way Nigerians consume news, by transiting the output of media houses from the usual contexts of information and public enlightenment, to the more engaging realms of gaming and income.
“Again, research organizations and brands in the Fast Moving Consumer Goods (FMCG) sector will soon realize that ours is a quicker and better tool for polling, as users or consumers usually would put their money where their hearts belong. Most times, consumers say what they don’t really mean, whereas they will put their money on what they believe”.
Speaking further, Ogundahunsi says “for many years, only newsmakers, media houses and advertisers made money from the news, while the general public made nothing. Now, apart from getting informed and entertained, members of the public who register on yesornolive.com can earn regular income by following-up on news stories and predicting the outcomes of such news stories. YesOrNoLive.com is a hybrid mediatech startup. Our focus is threefold: News, Edutainment and Prediction”.
YesOrNoLive promo video
While the site is not positioned as a betting platform, it is licensed by the National Lottery Regulatory Commission.
Abdulwahab Adi, Chief Technology Officer of YesOrNoLive explains how the Daily Jackpot works: “the first step to winning on the daily jackpot is to provide the right answers to the question of the day and the second step is to get picked during random selection, by the website’s algorithms.”
A predictor on the daily jackpot can win 5,000 naira or 10,000 naira, after staking just 25 naira or multiple entries of 25 naira (the more your entries, the greater your chances at random selection). Already, the platform has recorded thousands of daily jackpot winners across Nigeria, since it rolled out its Daily Jackpot.
Instagram testimonial by a YesOrNoLive beta user
Explaining that the site will soon make its weekly jackpot active, Adi says “one of the unique features of our platform is the weekly jackpot which is tied to a points system and which will soon go live. Here, predictors of category events are automatically drawn into a jackpot, if they have accumulated 20 points within that week.”
These 20 points enable users of the site to earn cash rewards of 5,000, 15,000, 25,000 and 50,000 naira, every week in the weekly jackpot.
How does this weekly jackpot work? Predicting any of the category events fetches 5 points per prediction and just four predictions within the week will fetch a user the 20 points necessary to enter into weekly jackpot. In addition, users may increase their accumulated points by referring family and friends. Each referral gets a user 2 points. Every time a referral (the person referred) makes a prediction on the site, the referrer (the user who has referred a friend) gets an additional 1 point.
YesOrNoLive.com was founded by a serial Entrepreneur and investment banker Israel Ovirih, with Dele Ogundahunsi, a marketing professional and Abdulwahab Adi, a computer technologist, as co-founders.
Banklink Africa Tech, core investors in the startup, is an offshoot of Banklink Africa Private Equities Limited. Israel Ovirih, who is also CEO of Banklink Africa, said “Now, average Nigerians, who are already excited and interested in what happens around them, can earn some extra income, on a daily basis. All they need do is read the news, predict YES or NO, get paid into their wallets and cash out into their bank accounts. It’s all about transparency and simplicity. No odds; no hurdles.”