What The Russians Know About Events. (We'll Bet on It.)

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The "Russians" have become a well known entity in the world of online politics. They are also a force in the in the world of online betting, multi-player gaming and sweepstakes based on cryptocurrencyThis market is worth studying for corporate event marketers because cryptography and neural networks currently represent the bleeding edge of AI technologies applied to promotional tactics. 

The "Smart" Sweepstakes is Here.

It is very common in the online betting field to encourage someone to play a game with the promise of an increasing jackpot. The logic goes that the more you play, the more you increase your odds of not only winning but winning big. The same logic can be applied to an online sweepstakes that encourages interaction with a brand.

It is possible today to set up a "neural network" that uses a form of cryptocurrency to lessen the perceived odds and increase user involvement|investment. At the bottom line, the sweepstakes is set up with each user being assigned values or variables that interact with other users and variables to essentially "make a market" or generate excitement around the sweepstakes. 

The effect is somewhat similar to that which happens in the market for bitcoin -- which derives is value purely from the anticipation that someone else is going to pay more for something that may or may not happen in the future. In other words, it it possible to run a sweepstakes that functions as a speculative exercise -- similar in ways to options trading. 

Applied to the real world, this essentially can allow a company to run a sweepstakes entirely online with only a single prize that, albeit, increases in value as the number of participants and information they share increases. The key to keeping this real is the use of sophisticated algorithms that are constantly calculating the value of the "pot" -- based on user information and investments, in real time. 

While the actual technology to make this happen is more complicated than can be explained in a post, you can bet that people all over the world (not just in Russia) are innovating in this space. With the recent legalization of online betting in the United States programmers are already racing the "disrupt" traditional prize winning games through the use of crypto technology like blockchain that will effective redefine what it means to play and participate. 

Increasing The Odds. 

When you run an online multi-user activity to reach a quantitative goal, you are effectively allowing people to "play the odds." As it usually happens, the player with the most data wins. 

Event Marketers are wise, therefore, to invest their resources in a Data-Driven Enterprise Event Management platform that allows them to amass overwhelming data on their attendees to position themselves for future success -- whether running a smarter Sweepstakes or simply increasing the perceived value of giveaways. 

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