A new start-up, built and backed by ex-Betfair staff, is the first website devoted to bringing the thrill of a bet to the online shopping sector.
Innovative “b-commerce” platform DiscountIF offers a unique promise to repay customers 100% cashback IF a specific event takes place. On the website, customers select a product they want to buy and then wait for the outcome of a selected bet to see if they get 100% cashback. They are guaranteed to receive the product regardless of the result; but if they win, they are repaid the full amount. DiscountIF is the first business devoted to such promotional offers.
Developed by a team who previously worked together at Betfair, DiscountIF enjoys access to a wide range of products, ranging from football shirts, golf accessories, iPads and iPhones, to Samsung TVs, cameras and electric toothbrushes.
Customers are presented with a selection of daily offers linked to current sporting and entertainment events, such as:
- “Buy a Scotland football shirt – and IF the Scots vote “YES”, you get 100% cashback”
- “Win 100% cashback on Titleist golf balls IF Europe win the Ryder Cup”
- “Buy a pair of Philips wireless headphones and get 100% cashback IF Cheryl is the winning judge on X-Factor this year”
- “Win 100% cashback on your Christmas gifts IF it snows on Christmas Day”
Each product featured on the site is linked to the outcome of an event, including football, golf, cricket and tennis, as well as special events such as X-Factor and Strictly Come Dancing. The DiscountIF team have over 30 years experience in the betting industry. The team is split between London and Malta, with seed investors in the business including Steve Ives, formerly Chief Product Officer and one of the earliest staff members of Betfair, and the TAKEOFF Seed Fund from Malta.
The Maltese Ministry for the Economy, Investment and Small Business awarded DiscountIF one of their top grants from the TAKEOFF Seed Fund Award, an incubator based at the University of Malta focusing on early-stage technology and startup development creating high-growth businesses in Malta.
“In the past few years, Malta has seen a huge growth in innovations and technologies, nor is there a lack of talented people with the energy to take those ideas to market,” said TAKEOFF Manager, Ben McClure. “The support from the Ministry for the Economy, Investment and Small Business plays an important role in helping get some great ideas off the ground.”.
The TAKEOFF Seed Fund Award is a joint initiative between the Centre for Entrepreneurship and Business Incubation (CEBI) at the University of Malta and the Ministry for the Economy, Industry and Small Business (MEIB), with support from TAKEOFF, the Business Incubator of the University of Malta.
Lewis Holland, CEO at DiscountIF founded the business early in 2014: “We wanted to create an alternative shopping experience where people could have that extra incentive to buy something linked to a sport, team, TV programme or celebrity that they follow. “B-Commerce” brings the thrill of a bet to the excitement of a new purchase.”
