On this episode of the Knup Sports activities Present, we’re thrilled to welcome Nigel Eccles, a real pioneer on this planet of day by day fantasy sports activities and sports activities betting. As one of many key figures behind FanDuel’s historic rise, Nigel has been on the forefront of innovation within the gaming trade for years.
Now, he’s venturing into the world of crypto along with his newest venture, BetHog. Designed to alter how we view on-line gaming and betting, BetHog provides us a renewed give attention to enjoyable and engagement. From interactive slot video games to a recent tackle funds, Nigel is as soon as once more altering the sport.
Be a part of us as we dive into Nigel’s entrepreneurial journey, from his early days with Flutter.com to his revolutionary work at FanDuel and now BetHog. Uncover how BetHog is reimagining slots for a brand new technology of gamers, why crypto gives distinctive benefits within the betting world, and what units this platform aside from the competitors. Whether or not you’re a fan of innovation, sports activities betting, or just interested in the place the trade is headed, that is an episode you gained’t wish to miss.
Ryan Knuppel
Hey, what’s occurring, everyone? Ryan Knuppel right here. Episode 2 hundred and thirty-seven of the Knup Sports activities Present. Tremendous excited to be again for an additional one. I can not imagine we’re at 2 hundred and thirty-seven. They simply maintain ticking off. We maintain bringing superb individuals doing superb issues in sports activities.
And I believe in the present day, you’re going to essentially benefit from the visitor we have now. I take into account him one of many pioneers of what we all know in the present day as day by day fantasy sports activities and sports activities betting, particularly right here in the USA. He’s one of many individuals liable for bringing what we stay and breathe each single day to life. I’m excited to dive in and give attention to his new venture and what he has occurring.
So I’m not going to waste any time. Let’s convey on our visitor who you’re all itching to fulfill right here in the present day. Let’s convey him on: Nigel Eccles with BetHog. How are you, my pal?
Nigel Eccles
I’m nice. Thanks. Thanks for having me on the present.
Ryan Knuppel
Completely. Excited to talk with you, Nigel. I do know we go manner again, like fifteen years in the past. I bear in mind assembly you thru the outdated OneSeason days. Keep in mind OneSeason again within the day?
Nigel Eccles
Oh, my God. Yeah. No, you’re going manner again. That was a enjoyable product.
It was almost like pre-crypto NFTs, proper? To procure a participant, virtually like a inventory trade for gamers. It didn’t fairly work, however it was an attention-grabbing idea. It didn’t work. However what I like to contemplate is like this chain of occasions—one factor main to a different, to a different, and so forth.
Ryan Knuppel
Completely. What I vividly bear in mind, particularly trying again at your success, is how FanDuel got here proper after that. It was like, OneSeason ended, after which FanDuel began proper after. I’d love so that you can share your story from these days to the place you might be in the present day earlier than we dive into BetHog.
Nigel Eccles
Yeah, very candy. Your journey. Sort of backstory on me. So I’ve been an entrepreneur in on-line sports activities betting and gaming since 2000. I used to be an early worker at Flutter.com, which grew to become Flutter Leisure. I relaunched it as a betting trade and likewise relaunched BetDAC, a betting trade primarily based in Dublin. Then, in 2009, I launched FanDuel.
Previous to FanDuel, we launched a prediction market known as Hubdub. There’s been quite a lot of information about Polymarket this 12 months, however we launched Hubdub in the course of the 2008 election cycle, and it did very nicely. Nonetheless, after the election, we found that prediction markets are nice for elections however not a lot for different issues. That led us to pivot to fantasy sports activities, and from there, FanDuel was born. It grew very quickly.
I finally left FanDuel simply as PASPA was being repealed and the sports activities betting trade was opening up. After that, I explored different startups in areas like social media, sports activities playing cards, and crypto. During the last 4 years, I launched a betting trade known as BetDEX, which remains to be operational. This 12 months, I began engaged on BetHog, which we simply launched final week.
Ryan Knuppel
That’s superb. I’m certain all of that have has given you a lot information and confidence to launch BetHog at this level.
Nigel Eccles
I don’t know in the event you ever really feel fully assured. I’ve at all times been serious about doing one thing new, and that normally means taking a danger. Whenever you launch one thing that nobody else is doing, there’s at all times uncertainty. It’s of venture.
I really feel comfy on this house as a result of I do know the appropriate individuals, the appropriate methods, and the place errors can occur. However there are not any ensures. One of many greatest errors individuals make in enterprise is pondering that doing what’s already been performed will work once more. For instance, after FanDuel launched, we noticed 100 by-product opponents. Nearly none of them exist in the present day. What I’ve at all times needed to do is innovate, however meaning there’s at all times the prospect we get one thing improper.
Ryan Knuppel
Certain, certain. So inform us a little bit bit about BetHog and what the brand new product is. I believe I noticed you put up not too long ago about crypto, sports activities, and betting—three of our favourite phrases!
Nigel Eccles
Yeah, precisely. There are actually two points to BetHog. The primary is the straightforward half: funds. In the event you’re an operator, one of many greatest challenges is funds. In the event you’re working internationally, getting customers to deposit cash generally is a nightmare. You want relationships with Visa, buying banks, and so forth. Even when you’ve gotten these, you’ll be able to lose them unexpectedly. Plus, fraud and chargebacks are large points, and even with every part in place, the prices are nonetheless extremely excessive.
That’s the place crypto shines. Crypto isn’t nice for every part, however it’s good for funds. I can provide somebody a pockets deal with, they ship me cash, and I get it virtually immediately with almost zero charges. That simplicity is an enormous deal, and firms like Stake have proven how highly effective it may be. However what excites us is what we are able to do past that.
Ryan Knuppel
What’s the following degree? What makes BetHog completely different?
Nigel Eccles
Streaming is without doubt one of the fundamental acquisition channels for on line casino video games in the present day, whether or not for video gaming or playing. You possibly can go on platforms like Kik and watch tens of 1000’s of individuals streaming themselves enjoying slots. However right here’s the factor: whereas the acquisition channel has remodeled, the video games themselves haven’t. I can watch somebody play a slot recreation that hasn’t modified in a decade.
We began asking, “Why haven’t slots advanced?” The video games individuals performed on their telephones ten years in the past are utterly completely different from what they play in the present day. However within the slot world, it’s nonetheless the identical. Why hasn’t the gameplay modified, particularly since streaming has made this a social expertise? Considered one of our titles permits the viewers to work together with the streamer whereas they’re enjoying. That’s a step towards making slots extra partaking and dynamic.
Ryan Knuppel
Fascinating. So that you’re bridging the hole between streaming and gameplay. What else are you specializing in?
Nigel Eccles
We’ve seen that the people who find themselves into crypto and the individuals who play slots are two fully completely different audiences. Slots have a tendency to draw an older, feminine demographic in search of leisure. It’s not about getting cash; it’s only a enjoyable pastime. Crypto, alternatively, skews youthful and overwhelmingly male. These customers are keen to spend 1000’s and even a whole bunch of 1000’s of {dollars} on video games they imagine they will win, however they’re not serious about slots.
We’re creating titles that bridge this hole—video games which can be skill-based like DFS, sports activities betting, or poker. They must be easy sufficient for anybody to grasp however provide an edge so gamers can compete. That is the place we expect we are able to make a major affect.
Ryan Knuppel
Yeah, that’s actually cool. Thanks for sharing that. I’m pulling up the BetHog.com website now. Taking a look at among the titles and video games, they’re very artistic, proper? New and modern trying. You talked a little bit bit in regards to the on line casino aspect. Are you able to discuss in regards to the sports activities aspect? I do know there’s a sports activities factor as nicely. What does that appear like?
Nigel Eccles
Sports activities is certainly a spotlight, however it’s not as developed because the on line casino aspect but. We’ve been engaged on simplifying the interface. For instance, we’ve launched completely different modes, like single bets, multis, parlays, or single-game parlays. A whole lot of sportsbooks in the present day have a procuring cart method the place you simply maintain including bets, and it turns into very complicated. We’re attempting to simplify that.
Lengthy-term, we additionally wish to make the expertise extra enjoyable. Proper now, on-line sportsbooks deal with betting like a banking app. You log in, place your guess, and that’s it. There’s no engagement or enjoyable concerned. We imagine the expertise may be a lot extra. For example, whenever you win your guess, why ought to it simply seem in a “historical past” part? It ought to really feel like an occasion, one thing greater. These are the areas the place we expect we are able to innovate and actually enhance the trade.
Ryan Knuppel
Cool. Let’s discuss in regards to the launch. You had a launch not too long ago. What’s the product lifecycle like? The place are you at now? The place are you reside?
Nigel Eccles
We’ve been in improvement for about 10 or 11 months, and we launched final week. Proper now, we’re working internationally. We don’t function within the US or UK but, as we’re not licensed there. Someday we’d like to increase into these markets, however for now, we’re specializing in proving the idea within the worldwide market. The platform is crypto-only in the intervening time, so customers have to have crypto to play.
Whereas crypto funds are an ideal function, what excites us most are the brand new sorts of video games we’ve developed. These video games differentiate us from anything on the market, whether or not onshore or offshore. That’s the place we see our greatest alternative to face out.
Ryan Knuppel
Very cool. I’ve to ask in regards to the emblem—it’s superb. The place did the inspiration for the model come from?
Nigel Eccles
My co-founder got here up with the identify, however initially, it didn’t hit us in any respect. Then we labored with an unbelievable designer who simply mentioned, “Let me do one thing.” Once we noticed the brand, we realized it was good. It addressed one among our greatest criticisms of manufacturers in the present day: they’re typically boring and lack character.
Even with FanDuel, we needed to play it secure as a result of it was such a controversial product on the time. We didn’t wish to push boundaries an excessive amount of, so we saved the branding simple. Whereas I really like what we constructed with FanDuel, it lacked the type of character we needed for BetHog.
With BetHog, we needed to place the enjoyable again into betting. Betting is an leisure product. It’s alleged to be enjoyable. Through the years, I’ve met so many individuals who cherished FanDuel as a result of it introduced them pleasure. That’s what we’re aiming for right here—one thing enjoyable and filled with character. The hog character itself embodies that. He’s like that enjoyable man in school who could be a query mark for fulfillment in life however ensures time. That’s the character we’re going for, and it’s resonating with individuals.
Ryan Knuppel
How do you retain your power and fervour for this trade, Nigel? I imply, I can solely think about… I don’t wish to name it burnout. However let’s face it, you went by way of an enormous journey with FanDuel. And now, you’re nonetheless within the trade. How do you retain that power and fervour?
Nigel Eccles
Yeah. Truly, after FanDuel, that is the second time I’ve left the trade. I assumed, “Okay, I’m performed. I’ve performed every part I can do right here.” I additionally felt the U.S. market was clear about who the winners have been going to be. By 2018, it was apparent. FanDuel and DraftKings had invested billions. I bear in mind telling individuals, “You can give me half a billion {dollars}, and I’d give it again.” I wasn’t going to burn another person’s cash to be an afterthought in that market.
One of the best time to enter a market is when it’s early and folks suppose it’s dangerous—not when it’s apparent. Sports activities betting was apparent by 2018, so I stepped away. However I missed it. I missed the enjoyable, the joy. I used to be engaged on social merchandise and music merchandise, which have been cool, however they didn’t have the identical power. This trade generates curiosity, pleasure, and leisure, and I really like that. Plus, I saved seeing new concepts I needed to strive, and it pulled me again. Why not?
Ryan Knuppel
What do you want, Nigel? Most individuals listening in all probability suppose, “He’s obtained all of it discovered.” However what are you in search of as you head into the longer term with BetHog? What are the stuff you want?
Nigel Eccles
We’re making quite a lot of bets, and we could possibly be improper. Perhaps individuals simply wish to watch fundamental, boring slot video games like they’ve performed for 20 years. Perhaps interactivity isn’t what they need, although it’s been talked about for many years. Streaming is a big innovation, particularly with slot streaming, and we’re asking, “How can we make it higher?”
We play our video games internally and suppose they’re hilarious, however we’d like extra individuals to strive them and inform us in the event that they agree. One instance is a recreation known as Hogger. It’s easy—you begin with a hog attempting to cross a highway. Someplace alongside the way in which, randomly, the hog will get squashed. You possibly can resolve to money out at any level, type of like “Deal or No Deal.” The twist is that in the event you’re streaming, you’ll be able to share a hyperlink, and your followers can guess in your hog too. Their little piglets comply with your hog, and it’s so humorous to observe them make choices. It’s far more entertaining than watching conventional slots.
Ryan Knuppel
Thanks for portray that image. That actually clarifies the sorts of video games you’re engaged on—enjoyable, artistic, and interesting. Can I play right here within the U.S.? In all probability not, proper?
Nigel Eccles
Not but, however hopefully quickly. We’re not licensed within the U.S. but, however we’d like to be there sooner or later. For now, we’re specializing in the worldwide market.
Ryan Knuppel
Effectively, Nigel, this has been superb. I might discuss to you all day about these items. One final query—what recommendation would you give to new startups getting into this house? With all of your expertise, what’s the one piece of recommendation you’d share?
Nigel Eccles
Startups are laborious. Most issues don’t work, even nice concepts with nice groups. The very first thing to understand is that failure is probably going, and it’s not a mirrored image on you. Dealing with failure is essential.
One other entice is attempting to innovate in every single place. Have a look at profitable corporations—they typically give attention to one space and do it very well. Take Stake, for instance. They didn’t attempt to be a very new on line casino or sportsbook. They simply targeted on accepting crypto, and now they’re value billions. At FanDuel, our huge thought was easy: make fantasy sports activities video games that final a day as an alternative of an entire season. It’s typically the straightforward improvements that win. Don’t overcomplicate issues. That’s one thing I’ve discovered and relearned through the years.
Ryan Knuppel
Nice recommendation. Thanks for sharing that, Nigel. Any final phrases? Something we missed? How can individuals discover BetHog?
Nigel Eccles
You possibly can try BetHog at BetHog.com. If you wish to comply with me, I’m on Twitter (or X) as Nigel Eccles. I put up in regards to the product and our journey there.
Ryan Knuppel
Effectively, I want you all the perfect with BetHog. And whereas I’ve you right here, I simply wish to personally thanks for every part you’ve performed for this trade. Individuals like you’ve gotten paved the way in which for therefore many people to have careers on this house. You’ve additionally introduced quite a lot of enjoyable and memorable experiences to individuals worldwide. So thanks for that.
Nigel Eccles
Thanks, Ryan. Meaning lots.
Ryan Knuppel
All proper, Nigel Eccles of BetHog. Tremendous modern product. I encourage everybody to test it out. Attain out to Nigel—he’s a brilliant cool man. Go to BetHog.com. That’s it for in the present day. Episode 237 within the books. I’m Ryan Knuppel. Till subsequent time, keep secure and take care!
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