Startup Clouty says it’s the world’s “first music betting platform”, offering music fans the chance to gamble in “contests about the latest releases and predictions in the rap game”.
According to its website, the idea came from founder David Umeh liking a new artist so much, he told friends that he’d put money on him becoming successful if he could. “It then dawned on him that there was no platform, where as in sports, where people could actually put their money where their mouth is and base their predictions on things that would happen in music,” runs the origin story on the site.
Clouty already has some games up and running: it’s currently taking bets on some categories in this month’s Grammy awards, with previous games including bets on whether Drake’s next track would have a UK vibe (it didn’t); whether artist 6ix9ine would be released from prison in a certain week (he wasn’t); and whether Lil Boosie would beat Gucci Mane in first-week album sales (nope).
It’s a good idea, although there isn’t any information yet on the site about how Clouty is handling the legal/regulatory side of running a real-money gambling platform.