GPWA Times Magazine - Issue 28 - April 2014

DerbyJackpot–asimplerway toplay theponies ByDanPodheiser Betting on horses can be complicated for theaveragenovice.Orat least itused tobe. DerbyJackpot launched in Feb. 2013with a simple idea: Simplify the experience of betting on horses and market to an audience that had never before thought to do so. In a little over a year, roughly 40,000 people in the 36 U.S. states where DerbyJackpot is licensed have registered and been verified to play on the site. Almost 60 percent had never previously bet on ahorse. "Weexpected to introduceanon-horserac- ing market to our horseracing product," said Walter Hessert, who co-founded DerbyJackpotwithhis brothers, Tom and Bill. "To date, we feel like we've been re- ally successful doing that." Forabeginner,bettingonhorsescanbean intimidating task. Betting sheets are filled with numbers and figures that might as well be inChinese.And even if youknow what all the informationmeans, it takes a considerable amount of time to learnhow tohandicap successfully. But DerbyJackpot makes it simple by re- moving thefirst decision everybettor fac- es –picking a race.Whenplayers visit the site, they are immediatelypresentedwith information about the next race going on at one ofmore than 250 tracks around the world, starting with the amount of time until the race begins. If a player decides tobet on that race, he is then facedwith a host of decisions, including which horse to back, which type of bet to make (a "Monkey" is a "Win" betwhile a "Granny" is a "Show," for instance) and howmany betshe'd like tomake. The site provides a quick rundown of each horse, including its name, odds and number in the starting gate. But if you're trying tohandicap, the site'snot for you. "We remove a lot of the data sowe don't bombardour users,"Hessert said. When the racebegins, players areprovid- eda live stream from the track so they can watch the action unfold. And if their bet comes through,money isplacedback into their account in amatter ofmoments. It's simple, for sure. But beyond Derby- Jackpot's smooth design and quick learning curve is a level of transparency not often seen in the online horse bet- ting industry. Everywager andwin is displayed in the resultspage foreachrace, andbigwinners are broadcast in a scrolling bar at the top of the screen. Players are encouraged to share their betting activityonTwitter and Facebook. The site feelsmore like a social game than an offtrack betting parlor, and it attracts the types of players who enjoy that kindof atmosphere. "It creates a different type of community that hasn't been seen before in online gaming," Hessert said. "Everyone on our site has a personality andwe find differ- ent types of people." Hessert notes that while not every DerbyJackpot player engages in the so- cial aspect of the site, many still benefit; it enriches everyone's experience. One player, according to Hessert, said in the site's chat room that she had never gam- bledonanything inher lifebeforefinding DerbyJackpot. She quietly watched the races unfold from a distance before she finallymade adeposit and started tobet. But who are these players who all of a suddenhave takenan interest inhorserac- ing? Hessert says DerbyJackpot tapped into several different markets in its first year, ranging from young males to fe- males over 60. The majority of players are men between 20 and 40 years old, with 24-year-olds being the site's biggest moneymaker. And players are signing up in droves, thanks toDerbyJackpot'seasy registration process. The site follows the same regu- latory oversight as its competitors, but it worked with the Oregon State Racing Commission so it could allow players to provide only the last four digits of their Social Security number. That alone in- creasedDerbyJackpot's player conversion rateby about 100percent. Still, the site's biggest roadblock so far hasbeen the consumer educationprocess. Most people don't know that there are more than 40,000 horse races every year in the U.S. alone. Andwhen people visit DerbyJackpot for thefirst time, theydon't know they can bet on a live race and that theyactuallywill beable towatchavideo of that raceon their computer. "People are astonished when the race comes live,"Hessert said. For apotential playerwhohasnever even thought about horseracing, much less bet on a race, the education process could present a real barrier. ButDerbyJackpot is betting that once people figure out what the site is all about, they'll behooked. "Ourmission is todevelop fun online en- tertainment and fun online gambling for Americans,"Hessert said. "On thewager- ing side, I thinkwe probably do that bet- ter than anybody." DerbyJackpot frequently sends players free "dime" bets, commonly known as a superfecta inhorsebetting circles. Players canwin over $1,000 bybetting just adime, and it takes just a few minutes of their time to see if it comes through. "That's been very attractive to our play- ers,"Hessert said. 30 DerbyJackpot–asimplerway toplay theponies