Entrepreneurial Tales: The friendly wager brought to life

Jeff is bringing the friend-to-friend bet to the world of apps.

An outgoing youngster, Jeff grew up in the suburbs of Milwaukee participating in a range of sports, from basketball to wrestling to ping-pong. You name a sport, and Jeff would play it.

And friendly wagering, or betting among friends, was always part of the equation. “My friends and I would bet on outcomes of everything from the Super Bowl to pickup basketball to paper football, with the loser footing the bill for the next arcade game. In college, it turned into pool or golf, with the stakes being a beer at the local pub.”

Social media changes the equation

After graduating from the University of Wisconsin in 2009, Jeff found that his friends had scattered to different parts of the country — from San Francisco to New England to Florida. They still kept in touch via social media, but were never able to recreate the fun of friendly wagering — whether by Facebook or texting.

Jeff did some research and found that two thirds of collegians and young adults wager on something, sports or other, between friends. So he decided to create a better way.

Made for the wager

Moving quickly this year, Jeff created the StakeHaul app, which automates the friendly wager, allowing for third party judges, trash talking and stakes tracking. Since its Beta launch in Q1, StakeHaul has been impressive, garnering the #1 ranking for Social Betting Apps, over two hundred 5-star ratings, and 12% month-over-month organic growth. Jeff is in the process of gearing up for a full market launch which, based on past performance, looks like a sure bet.

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To Readers: If you’d like to learn more about StakeHaul or Jeff’s upcoming seed round please ping us for an introduction or reach out directly to Jeff at jlippert@stakehaul.com.

From Jeff: SourcePad ’s communication, code quality and speed when helping me build StakeHaul were great — I couldn’t have asked for more. Among fellow entrepreneurs I’d heard of so many startups that don’t get off the ground, but SourcePad made it so easy for me, it was almost like they had ESP. I couldn’t have done it without them.”

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