Layup is a mobile banking platform that integrates prize-linked savings accounts with automated sports picks, enabling users to earn cash prizes while saving money without any risk of loss. This approach provides a risk-free alternative for sports fans to engage in competitive play, enhancing their savings experience while participating in gaming activities.
Funding
$2.3M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Engaging with sports often involves financial risk through betting, while traditional savings accounts lack excitement and incentives for sports fans. Many fans seek ways to participate in sports outcomes without the potential for monetary loss.
Solution
Layup is a neobank platform that combines prize-linked savings accounts with automated sports picks, offering a risk-free way for fans to engage with their favorite sports. Users deposit funds into an FDIC-insured savings account and receive daily sports picks. If their picks are correct, they win cash prizes, effectively turning savings into opportunities for winning. This approach allows users to enjoy the thrill of sports engagement without the risk of losing their deposited funds, as savings remain accessible and insured. Layup aims to provide a responsible alternative to sports betting, encouraging positive savings habits while offering the excitement of potential winnings tied to sports outcomes.
Target Audience
Layup targets sports fans who are looking for a risk-free way to engage with sports and build savings habits, particularly those seeking an alternative to traditional sports betting.
Features
- FDIC-insured savings accounts held at nbkc bank
- Daily automated sports picks provided to users
- Cash prizes awarded for correct sports picks
- No-loss savings model, ensuring deposited funds are always accessible
- Gamified savings experience tied to sports outcomes
- Mobile app available on iOS and Android platforms