Frequently Asked Questions
Q: What makes Kutt different from a traditional sportsbook?
A: Many things! To start, on Kutt you’re betting directly against another person rather than a corporation. We are a social-first betting platform, with a focus on community: chats, leaderboards, user profiles, and more. We allow you to create your own odds and payouts, meaning that YOU are in control of the bet and don’t have to just take what the big boys offer you. Assuming you’re located in a jurisdiction where we can operate, you can bet as much as you want without worrying about “winning too much” – we will never kick you off for being good because we aren’t the House! Lastly, and perhaps most importantly, our fees are around ⅓ of what the traditional sportsbooks charge, and we only charge the winner.
Q: What’s wrong with keeping up with my bets in our group chat or phone’s notes? Why wouldn’t I just use Venmo to collect on bets against my friends?
A: You tell us. Do you and your friends always pay each other on your bets? If so, maybe Kutt isn’t for you. (Honestly, if you tell us that you’ve never had someone flake on paying you for a lost bet, we probably won’t believe you.) We think that everyone agrees: it’s a hassle to try to collect from people that owe you money.
Beyond that though, the social aspect is what separates Kutt from just paying your bets via Venmo or in cash. We have detailed bet history, user profiles, leaderboards, chat, and several other social features that make our app interactive and fun.
Q: Do I have to know the person I am betting against?
A: No you don’t.
While most people will bet against their friends/people they know, you also have the option to post a bet to the entire Kutt community. If none of your friends want to take your bet, just click the “Make Bet Public” button in the bet flow to post this bet to the broader community (the “Public”) for someone random to take the other side. Even though you might not personally know who takes the other side of your bet, each person does have a user profile, so you can still see who you are betting against.
Q: What do you mean “no-vig” odds?
A: You ever notice how 90%+ of the odds you see on DraftKings or FanDuel are -110? That means that you have to bet $110 to win $100. -115 means you have to bet $115 to win $100, and so on and so on. So basically, you are paying them a commission just for the privilege of placing a bet. -110 implies that you are paying a ~10% commission each time you place a bet…win OR lose! Kutt doesn’t have these odds. Everything you see is -100, meaning if you bet $100 and win, you’ll get back $100. While we do take a small transaction fee after the fact, this only comes from the winner’s pot.
Q: Wait, so what’s the catch? (How do you make money)
A: There really isn’t one. Really. We built Kutt to be as fair and consumer-friendly as possible. We’re bettors ourselves and use Kutt too! We tried (and will continue to try) to create something that bettors of all shapes and sizes will enjoy.
As we mentioned in the last question, we do take a small fee from the winner’s winnings…and we want to be transparent about that. But, remember, it’s MUCH less than what you would pay on a traditional sportsbook and, really, this fee is paid by the winner of the bet. It’s a small price to pay for the guarantee of getting paid on a bet that you’ve won against a friend.
Q: Why am I being charged a fee?
A: We answered this in the last question, but for the ones who are hard of hearing: the transaction fees we charge go to cover our company’s bills, so that we can put out a half-decent product. We have to run a business after all 🙂 Hopefully we get to the point where we can lower the fees, but that comes with time and lower (payment) processing costs on our end.
Q: Do you just offer sports bets?
A: We’re slowly adding non-sports markets on a gradual basis (think politics, pop culture, eSports, etc.)…which really is a fancy way of saying that as soon as we raise enough money, we will provide these markets to you. We want to be known as the ultimate social betting platform, not just a sports betting platform.
Q: What about additional sports, live-betting, futures, props, and parlays?
A: We will be adding new sports very soon, and then futures/props shortly after. Live-betting is definitely in the roadmap, but it usually takes a minute to actually send a bet and have someone accept it…sooo we’re trying to figure out how to best implement that feature. Candidly, our site isn’t really meant for parlays, but there are ways to include those options if our community wants to see them.
Q: Do you have any referral bonuses?
A: YES! So glad you asked. We do have referral bonuses and want to reward users who sign up their friends. In the app Menu, you can click “Invite Friend” or the Blue Button in the top right of the app – if you click either of these buttons, a text message (with a download link) appears that you can then send to your friends. You can also go to the “Account” tab, click “Referral Code” and send it from there. These texts/links are tracked, so we can see who is referring new users. We are working on creating a rewards program for referrals and will be rolling that out shortly.
Q: Is Kutt looking for Brand Ambassadors?
A: Yes, we are looking for both male and female Brand Ambassadors of all ages (must be 18+), with a special focus on college-aged ambassadors. We have a cool Ambassador Program that has a bunch of great perks and benefits. If you think you would be a good fit for this role, please DM us on Instagram (@kuttbet) or send us an email at email@example.com.
Any inquiries or feedback can be sent to firstname.lastname@example.org.