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Co-founders, Frank Wilson and Jamey Forkins on how their app is changing the sports gambling arena
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Welcome back everybody -- it was just telling you that total gambling and betting and wagering on -- rule 4710 billion dollars but.
Hopefully more than nineteen million of that.
Legally here in the United States the only -- place to gamble is in Nevada -- people.
Gamble -- everything from you know how many passes giving me thrown in a certain.
Period of time.
So yet some crazy stuff but the old record for legal gambling was 2006 that was just that 95 million.
Dollars so maybe we'll see that again this year.
I'm joined by two founders frank Wilson and Jamie for gains of an app called gamble -- -- just want to the end of last year.
And you basically starting a new trend in legal gambling -- tells that.
-- -- We launched -- -- -- -- -- these are just -- that can't just on the iPhone for now belongs on other platforms hopefully throughout the year affect.
And it lets you.
That against your friends.
Using a lot lines coming in from the top sports books you can also go to local sports bars.
That on the games -- prizes like pages appear -- wings.
And the matter where you are we have national contest running where.
You can join them -- great -- -- phalanx Jamie attest to be a great story to tell you came up yeah idea so we.
You know.
We started thing but this because it.
The first weekend of March Madness every year we go to the bar and you know -- there watching it -- you know kind of -- the brackets are watching every game and they care about every game.
So we've got a thought you know we should try and get that -- -- -- that so that every weekend is enough sports that you could kind of have that same thrills home.
We -- again -- -- of people good bad and every weekend you know care about each and every game instead of this you know what player catches the ball they actually have a stake in each game -- game kind of turns into.
-- and they care about some of them they're invested and.
How did you get the bars and restaurants to sign up repeatedly -- difficult door.
-- your strategy of strong arming.
So we kind of you know -- out and started talking of our managers.
And we were pleased with the initial response because you know once we we told them -- we are about there as a kind of let up -- ten minutes is kind of a cool idea.
And it's we've just been meeting with our our partner of ours to -- physical policies wrapping up and they've they've really enjoy the product so far and are sticking with us for the basketball season so.
We're gonna continue this as football season winds down without the wealthy then yes.
He's just fine I know it's early and it's meaning more like an experiment in many -- for you getting this -- but -- there any way to quantify.
The success.
Straight how many people have -- -- how many dollars for virtual dollars have been -- that these fires.
Yeah we've we've you know over 8000 dollars -- the at the bars.
With you know more than thousand people being playing this contest places that's every week.
And that the bars are likely to because you know 100% of the bars and signed up so far have decided to stand to -- rip them up and pick -- in -- They're.
Some some new apps that are doing similar things.
There are some -- kind of going after the second screen experience where.
You know here kind of watching the game and trying to predict the outcome of every -- how does little.
-- -- -- -- -- -- There's no actual money exchange offer vessel Florence and the -- -- -- as sweepstakes of that you know.
Anyone -- went -- for free and one person Windsor couple people in the presence of north.
And up I was reading a little bit about about your company your -- and you don't do any direct marketing say you have no marketing budget.
We just haven't done -- -- any direct marketing yes hello that.
How are you getting it likely the word of mouth like how are you yeah are you bringing so present.
Each of the -- -- the bars is kind of like an advertising company itself has paid they have you know they want that uses to come in and use the F because it's you know and it brings people ended you know kind of makes it more fun yes and so we decided to you know kind of keep it small for the beginning as we as we.
Start part of with bars referring know what works what doesn't work and I'm so far everything has worked so.
We put a lot of above force that is over the course here and start advertising as well.
So how -- -- evening money.
Will eventually.
The bars and sign up on a subscription basis so right now -- -- making.
Right and so are our first partners have signed up.
-- Yeah.
Thanks and does it on the road it'll be subscription and then we'll also get advertising.
Do you know how much money they charge that subscription.
We're still working on us and you have other jobs or did you quit your jobs to dedicate yourself -- -- we -- quit and about June of last year to.
To launch this yet is the -- -- yes.
So the whole link seems phrase that gonna change stance -- always.
You're free to the users and has the uses you know that they expect download -- -- -- gets a -- it to compete and play and then if they win they whenever you know real prize money where from you know.
-- -- -- -- at the local favorite bar to a couple on us cash or we can and Vegas.
And you city 80000 units sold off thousands of four 1008000.
Dollars redeem yes exactly.
And then you have a -- going on these weekend receivables Sunday can you tell us about it.
And -- That's even running an NFL playoffs contest.
And the leader boards packed with people and there are going to be.
Trying to pick the game right this weekend and someone's gonna take down a 500 dollar for us that's in the Sunday night so.
Well it sounds really interest -- You have to talk to any authorities just confirmed that it's legit.
That there's no gray areas are you guys are totally in the clear we've vetted it with the gaming lawyer.
Before we kind of jumped into the deep end yet and everything you know it's it's not illegal to do this settles -- offered no money in instances since everything's run as a sweepstakes.
It's completely legal and it joy EB which is -- -- It's legal in all states -- gets -- pay -- -- you thank you so much for coming not really appreciate that frank Wilson and -- -- and co founders of the -- can't cleanup let me know -- -- on Monday after the game I might ease if.
