The golf course is its own micro-economy. It might as well have its own GDP. You pay for your game, you pay for your cart, you grab an extra round of balls from the pro shop, you buy beers, someone buys you beers, you throw a few bucks on a few putts, and on the way to the house, you share gas with Jeff, who lives a few blocks away and hitchhikes. In the past, you would settle all of this on a traditional cash app (or real money, sort of, way past). But one person has PayPal, the other Venmo, and one weirdo uses Zelle. Before you know it, you’re juggling multiple payment apps for a single round of golf, and you’ve forgotten one of the passwords, so now you’re trying to reset it with an SMS code in the parking lot with the sun who hits. It’s not a pretty scene.
This is where LoopGolf comes in. [ed. note: The Loop is unaffiliated with LoopGolf] . LoopGolf is a new golf-specific cash app from co-founders Matt Rum and Thomas Reinholm, who both spent the last five years at Block before stumbling upon their light bulb idea. One afternoon, after a particularly epic four-ball spree full of side bets and presses, they spent nearly half an hour counting and doodling, trying to figure out who had won and who owed how much to whom. Once they finally got to the bottom line, they realized they were all using different payment methods. Thus was born LoopGolf.
LoopGolf, which is expected to launch in more than 30 states by August 1, brings these two elements – both betting and the payment of said bets – under one umbrella, providing users with the ability to place and manage ongoing bets throughout a round, as well as settling when it’s over. Best of all, the functionality is very similar to what you’re used to with a traditional cash app. Once you’ve downloaded the app and logged in, all you need to do is sync your debit card with your account. From there, you’re ready to spend some money, but you might want to host a game first. In the app, you can enter critical details for your upcoming match, send invites, track running parallel bets and even collecting money from your gaming partners in advance to make sure everyone pays (this is one of the most important currencies). The app will also automatically publish players’ USGA Handicap Indexes, making it virtually immune to sandbags.
For Rum, whose first job was as a bag boy at his local club growing up in the Baltimore area, and Reinholm, who started playing with his pops at the age of six, LoopGolf is the culmination of a long-standing relationship with golf. But it does not stop there. Rum and Reinholm say the goal is to have LoopGolf up and running in 42 states by the end of August. An international launch is a future goal, as is a rewards program that will give users exclusive access to preferred times at featured courses, clothing drops, and members-only tournaments and events. These are just landmarks on the horizon for now, but to learn more and join the community waitlist, check out joinloopgolf.co and get ready to, in their words, “play for something”.