Motivation is an extremely important factor in any person’s fitness journey. When it comes to being physically active, there are many reasons to workout regularly. Obviously, the main reason for most people is simply to be healthy and stay fit. Still, there are a lot of health benefits that come with being physically active. Working out on a regular basis can help you manage your weight, help strengthen your bones and muscles, improve your ability to do everyday activities, can also help reduce the risk of disease, and can even help to improve your brain health. Now, while those health reasons are usually enough for getting people to start being physically active, keeping up with a regular fitness routine not only requires discipline and commitment, but also requires a lot of motivation. On top of all the health benefits that come with working out regularly, having additional rewards for reaching your fitness goals would definitely increase your level of motivation for staying engaged with any sort of fitness activity. Enter the Gains App, an ingenious mobile App that’s set to revolutionize the way people stay fit by providing fitness enthusiasts with a platform that allows users to compete live, create, and bet in live fitness challenges from which they can earn cash rewards, anywhere and at any time.
WHO IS GAINS APP?
Gains App is a mobile/web-based tech startup that helps fitness lovers push themselves to the next level via the Gains App.
With the COVID-19 global pandemic taking the world by storm, the fitness industry was one of the industries that was mostly affected by it, since most fitness related business such as gyms, fitness centers, sports venues, etc. all suffered huge financial losses, as they all had to shut down due to the spread of the SARS‑CoV‑2 coronavirus.
While trying to figure out a way to stay in the fitness business during the COVID-19 pandemic, Hayes Kanyike, who’s the founder and CEO of the Gains App, came up with the idea of creating the Gains App as a fun and reliable way of keeping the global fitness community (including fitness lovers, as well as personal trainers, gym owners, and other fitness-related professionals) physically active, properly motivated, and ultimately engaged with fitness throughout their daily lives.
As Hayes explained in a recent interview GadgetGram had with him: “As a health and fitness entrepreneur, my business was affected by the pandemic. I took that time to begin work on a social platform where people could bet on and compete in fitness challenges and win instant cash, while at the same time keeping the fitness community active and engaged.”
In other words, the Gains App provides a unique, creative, and super cool way to connect, entertain, and ultimately reward the global fitness community.
WHAT IS THE GAINS APP?
Essentially, the Gains App is a mobile App that provides fitness enthusiasts with a platform in which users can compete live, as well as create, and also bet in live fitness challenges from which they can earn cash rewards, anywhere and at any time.
The Gains App is quickly creating a new revenue stream for the fitness industry, as this is currently the only live competitive fitness social media app in which all users are able get paid.
HOW DOES THE GAINS APP WORK?
When using the Gains App, there are 3 types of users: competitors, judges and spectators, all of which are able to earn different amounts of money while being part of a community of like-minded fitness enthusiasts.
Essentially, Competitors are users who are able to enter live fitness challenges that they’re interested in participating in by paying an entry-fee (set by the Judge that created that challenge) that’s added to the total prize earnings (i.e. a cash-pot) of said challenges, for which those live fitness challenges can be live-streamed from anywhere for a chance to win a large portion of the cash in the pot.
In addition, there are Judges (for example personal trainers), which are basically users who are able to create live fitness challenges and then determine the winner of each challenge, who’ll win a percentage of the cash in the pot.
Finally, there are also Spectators, which are users who can watch, follow and place bets on their favorite competitors and judges.
Users can be both a Competitor and a Judge at the same time, with the obvious exception of not being able to enter as a Competitor in challenges they create (as a Judge). Users can also be a Spectator if they’re looking to bet on fitness challenges, as long as they’re neither a Competitor or a Judge of any challenges that they’re looking to bet on.
Each live fitness challenge is specifically programmed to last a short time, which can range between 1 to 5 minutes maximum.
Know that live fitness challenges can only have up to 10 Competitors participating at a time per each live-stream room. If more than 10 Competitors wish to participate a specific live fitness challenge, another room with 10 Competitor slots is created for that same challenge.
It’s also important to note that bets must be placed on a Competitor before a live fitness challenge is live, meaning bets can never be placed once a challenge has started, neither during a challenge.
Spectators (i.e. bettors) utilizing the Gains App to watch live fitness challenges can also track their favorite Competitors (by following that Competitor’s personal user profile) so that they’re always able to know when those Competitors are going to be competing, ultimately making it easy and simple for Spectator users to place upcoming bets on their favorite Competitors.
In-App Earnings (Specific Percentages & Payment Processor)
Whenever a Competitor wins a live fitness challenge, they’ll earn approximately 65% of that challenge’s cash pot.
Judges earn approximately 15% of cash-pot of any live fitness challenge they create and are able to run successfully. Note that if a live fitness challenge does end up generating multiple live-stream rooms, that a really good thing, as this means that the Judge who created that challenge will be able to earn 15% of the cash-pot from each of those live-stream rooms.
Spectators earn individual percentages (split fairly across any bettors that win their bets) from a separate cash-pot that’s shared solely between spectators who have placed a bet on different competitors participating on the same challenge.
The company only charges a 10% Admin Fee from the cash-pot of any live fitness challenge that’s created (and obviously conducted / finished), and is how they generate their revenue.
For processing all the payments associated with each live fitness challenge, the company (meaning Gains App) is currently utilizing Stripe as they’re payment processor on the back-end, for which they only take approximately 1.9%~2% of the payments that are to be processed for the Competitor that wins each live fitness challenge, the Judges, and any Spectators that could have potentially placed bets on the Competitors participating in a challenge.
It’s also really important to note that when processing payments for all 3 user types, the Gains App doesn’t store any personal data from its users (including the Competitors, as well as the Judges that create the fitness challenges, and also the Spectators).
Finally, know that the Gains App also has a back end system that monitors Judges in order to prevent any potential cheating, for which the company only approves judges that meet moral and professional standards. If a Judges is ever found to be in violation of community guidelines and/or terms of conditions, it will result in an immediate account deactivation.
WHAT ARE THE COMPANY’S FUTURE PLANS FOR THE GAINS APP?
The Gains App has been recently showcased (between March 12 and March 15), at the SXSW (South by Southwest) festival, in Austin, Texas.
While the official release date for the Gains App is still to be announced, that launch date is still expected to be announced somewhere during 2023.
If you’re interested in learning more about the Gains App, you can do so by visiting the Gains App’s official website.
