How did it all start?
YesOrNoLive.com is a news-outcome prediction portal, founded by Israel Ovirih, Dele Ogundahunsi and Abdulwahab Adi.
Some time towards the end of 2015, Israel Ovirih (a Nigerian then based in the United States) discussed the idea, with Dele Ogundahunsi, of a startup which would give Nigerians (and Africans) the opportunity to earn, by predicting the outcomes of news stories, as they unfold. Brainstorming sessions on how to establish the startup took off at that point, through online discussions, especially.
In December 2016, Israel had relocated to Nigeria in further pursuance of this dream. Israel and Dele were joined by Abdulwahab, a trained computer technologist and the trio started drawing up their startup plans.
Initial startup capital came from Israel’s savings. By March 2017, the co-founders had started working on the MVP and by August 2017, a team had been put together. By October 2-017, the MVP was ready.
How does YesOrNoLive.com operate?
A person predicts the outcome (in the near future) of a specific news item or event and could either win or lose on the side of such prediction, based on eventual outcome of the news/event. Essentially, therefore, all events on yesornolive.com are based on media/news reports. All events have been ‘pulled’ from News stories.
A Board of Validators vets predictions, before they are published on the portal. It also takes the decision to determine winning predictions (outcomes).
A predictor stakes any amount of money s/he desires (minimum is 200 Naira), in order to predict on a particular position (YES or NO). If, eventually, he wins, s/he gets his stake plus winnings. On the other hand, if he loses, s/he gets nothing. All games on YESorNoLive.Com are winner-takes-all games. All winners share from the ‘pot’, which consists of the stakes of all participants (on both winning and losing sides), relative to their stakes. Monies are paid into wallets in each player’s account. Wallets can be funded using debit cards and funds from wallets can be withdrawn to bank accounts.
Players decide which games they want to play, selecting from any of 5 categories: Politics, Sports, Entertainment & Lifestyle, Business & Economy and General topics. They may also be guided by the objective and balanced analyses of the specific game, published on the Portal in text (as links to secondary sources) and multimedia formats.
In a depressed economy such as Nigeria’s the portal aims at providing people with extra income by stimulating the intellect.
Link to online video in ‘Pidgin English’
Link to video interview of CEO and CTO
Our products and services
- Predictions on Entertainment & Lifestyle; Politics; Business & Economy; Sports and General topics
- Daily Jackpot (Cash to be shared by 4 predictors on a daily basis)
- Weekly Jackpot (Cash to be shared by 11 predictors on a weekly basis. Entry based on game/prediction points and referral points)
- Yorno (a news-aggregation blog of YesOrNoLive.com, where people can access news stories and qualify for jackpot on YesOrNoLive.com by sharing news stories with others. Points earned can also be traded for tangible products -this is done in partnership with manufacturers of consumer products). Yorno also aggregates results of predictions and makes them available to interested researchers.
Our success factors
- Satisfaction from positive feedback
Factors which differentiate YesOrNoLive and make it a disruptive model, compared to existing players in the market
- We are not positioned as a betting platform
- No odds; no hurdles, just simple YES or NO
- The use of News Stories (what you think you know, based on staying informed)
- Economic empowerment as a key objective
How does YNL make money?
Our algorithms are set so that after a large percentage of losers’ stakes is paid to winners, a percentage goes to the government and another percentage goes to two selected non-profit organizations for the month, while yet another percentage is retained as commission/profit by YesOrNoLive.com
Also, commercial organizations want to reach our target market. We make profits from commercial partnership fees.
A few words about competitors
In this particular niche, we presently do not have competition, though we expect other brands to be established soon. Our key strategic driver to outpace competition is Innovation. We want to be steps ahead of likely competitors.
Generally, though (and at present), we see sports betting platforms in Nigeria as competitors. These include Bet9ja, Nairabet, Winners Golden Bet, etc.