RE: Adapting to Market Signals - Steem Sports
Steem Sport is taking a large portion of the rewards pool right now because they have very little competition as a STEEM distribution blog. As other STEEM distribution blogs like @thegame @bola @steemit-health come along and incentivizes users to participate in their blog for a portion of the rewards, we will see users migrate from "sports betting" to STEEM distribution activities in their field of interest.
Blogs are now realizing that they can share their rewards with users, incentivizing them to participate in any type of activity. This is why I started @steemit-health. Once we have 10 activities a day that distribute STEEM to the health community, people who are interested in health stuff (more than sports betting) will migrate from Steem Sports to Steemit-Health.
And this is good for Steem Sports as well. Once there's competition between STEEM distribution blogs in many different fields, Steem Sports will be left with true sports fans, which will make it a lot easier for them to package and sell their users' attention to companies that want to advertise to sports fans.
I've been running a pretty healthy alternative to the SteemSports games. I have a smaller audience, but the payouts are much larger for the winners and my cut is mostly limited to the SP award. It's not a "distribution" game, per se, but it does distribute and I have a loyal group of players/sports enthusiasts. Competition is good, so I'll be looking at new ways to expand what I'm doing and will take some of @dantheman's ideas into consideration if I do decide to branch out.
Nice, I was thinking if anyone has been doing SP distribution on something more participatory than left/right betting. But in any case, I like Steemsports for its simplicity (not sure about value though since i'm not into sports). Will check out @steemit-health. Actually would be interesting to see this model for external curation!
Let me know what you think! @steemit-health is experimenting with two different distribution models right now, one activity where all participants receive an equal share of STEEM and one activity where all participants are entered into a lottery. - It's a very soft launch right now but I think it has potential.
@steeit-health is different as it's all distributed equally to everyone participating. No winners or losers ... just all winners, so to say.
Yes the distribution style is different, but it's still distribution. Right now, I'd guess that the vast majority of users participating in Steem Sports are not very interested in sports betting at all, but they are very interested in acquiring more STEEM in exchange for their attention.
Each field of interest, whether it be health, sports, fashion, music, technology, etc. will develop blogs that have their own distribution model that suits their audience.
My point is, that once there are second level (blog level) STEEM distribution options in many different fields of interest... new users will come to Steemit and find additional rewards in the fields they what, rather than all piling onto Steem Sport.
ps. I think Steem Sports is great;)
The betting on sports thing is a dangerous game to be playing. The people that enforce that stuff do not play around. I know of what I speak ...
No doubt. Steem Sports has to be very careful. My main point is in reaction to:
I don't believe we have to do either. I think this only appears to be an issue right now because of the lack of competition between STEEM distribution blogs in different fields of interest.
I stopped betting and upvoting steem sports about 10 days ago when I figured it was not worth the effort, and only 1 out of 20 of the games I bet on was something I knew about, as the only sport I watch is UFC.
There is no competition because suddenly steem isn't real money. It's steem power, so nobody's bothered to compete. All those skeptics we wanted to convert are being let walk away because they haven't a chance to compete and they haven't had the chance to realise the value of SP.