A November 17, 2014 article on forbes.com reports that DerbyJackpot, a company which combines the appeal of online gaming and horse racing is reaping the benefits of its first product.
Players can place bets using major credit cards or bank transfers at more than 100 race tracks across the U.S.
Giddy Apps, the maker of DerbyJackpot is currently available in 37 states by taking advantage of a loophole in the law which allows betting on horse racing as the only legal form of online gambling.
Players can see a live video feed of the races while they chat with competitors. Younger fans are attracted to online horse racing since they need no prior knowledge of older horse-racing terminology. The majority of users have never been to an actual race track and have never even gambled on this sport.
DerbyJackpot was launched last years by the three Hessert brothers, Bill, Walter and Tom. Funding by Bull Capital has raised $6.2 million which has enabled Giddy Apps to attract more than 200,000 players and more than $10 million in wagers. Their second horse racing gaming product is expected to be launched in January.