One on One with Draftpot CEO, Joey Levy
Tick. Tick. Tick. Tick. That’s the sound a countdown timer makes in the lobby of a DFS site…probably, anyway. We’ve all been there before, awaiting first pitch or kickoff, and taking in the sight of potential overlay. Watching the steady heartbeat of entries fluttering into games, hoping that there’s going to be free money on the table that you can take advantage of. I know a lot of you out there are going to be hunting for it this weekend, but what if I told you I knew where to find it?
Enter DraftPot, a brand new DFS site aiming at changing the DFS landscape slowly but surely with simplistic, yet innovative game play. Take out the calculations and sacrificing the one player you love just to meet the salary cap restrictions, and enter Fan Mode, where you can root for any player you choose, with “no limits.”
Despite being new on the scene, DraftPot is going large for the upcoming weekend of football, guaranteeing 100’s of thousands of dollars in prizes, including a signature game with a guaranteed payout of $100,000 dollars. The $100,000 Touchdown is a $10 entry Fan Mode contest that will pay out $10,000 to the first place winner. It doesn’t stop there – there are countless other guaranteed games with tons of overlay so far. A quick scroll through their lobby and you’ll be salivating at the potential reaping come Sunday.
Why try Draftpot? I’ll let CEO Joey Levy tell you, as I was able to get him to answer some questions for the DailyRoto community.
**Editors Note: We just realized that the Draftpot logo is a “d” and a “p”, obviously, but how cool is it that it makes an infinity symbol and their tagline is “Experience No Limits”? Sorry – had to mention – so creative. Ok, on with the Q&A!”
Why Enter the DFS Space?
Despite DFS becoming an increasingly saturated market, we felt that there still wasn’t a product that catered to every fan (whether they be casual, everyday fans, or hardcore, avid fans). That’s why we developed Draftpot with many sports and our no salary cap format – we want to provide options for everybody.
What’s your background? Are you also a player?
Me and my two co-founders are undergraduate students at Columbia University. I personally have experience playing daily fantasy sports and high stakes season-long fantasy baseball. While my two co-founders aren’t very into sports, they have extensive backgrounds in software development, so they’re able to build beautiful and robust products very quickly.
What’s so different about Draftpot?
Our biggest differentiator is our no salary cap format. We have two game types: Fan Mode & GM Mode. With Fan Mode, there are no restrictions to the lineup selection process – users can pick whoever they want for their fantasy lineups. With GM Mode, we wanted to develop a product that catered to the millions of existing users who enjoy cap formats, while improving the experience. That’s why our GM Mode game implements a points per game cap, since we consider PPG to be a more accurate and transparent reflection of player values (rather than salaries that could be arbitrarily assigned by site operators).
We also offer more sports than our competitors; we offer: NFL, NBA, MLB, NFL, CFB, CBB, PGA, NASCAR, and League of Legends (eSports). More sports will be launched by the end of 2015.
Furthermore, we offer a lower rake, with all of our contests maxing out at 10%, with many of our contests coming in at an 8% rake or lower.
What inspired you to try and go big week one, even while being a new site?
While developing a beautiful, robust, and innovative product is important, we felt that was only part of the strategy that would allow us to make a splash in the industry from the get-go. We decided it would be best to raise a couple million dollars and pour most of that money into aggressive GPPs and other proven methods for rapid acquisition. While we will probably overlay week one, we are fine with this, and are happy to have our earliest users take advantage of it if it means getting them active on Draftpot.
Are you trying to mold Draftpot after some of the other successful sites, or do you plan on going in your own direction?
A mix of both. Clearly, our gameplay with respect to our no salary cap format is different than everything else out there (and this is intended to bring many new users into the space). However, we made it a point to maintain much of the same lineup composition and scoring structure as the larger sites to make the transition to Draftpot as seamless as possible for existing players.
Do you guys have any plans to implement new stuff in the short term? Or do you have any long term goals?
In the short term, we plan on launching a loyalty program (the benefits of which will be retroactively applied to our existing players) and launching a few more sports.
Regarding the long term, we plan on continuing to develop new game types, and further enhancing our product. We have also filed for a gambling license in the UK, as our long term goal is to bring Draftpot to as many people around the world as possible, as quickly as possible.
Anything else players should know before signing up and depositing for week one games?
Make sure to use the promo code “DailyRoto” for a 100% deposit bonus up to $1,000 (this is done at an 8% release rate, which is 100% faster than industry standard). We will also probably have significant overlay, so if you like money, you should check us out.
Thanks so much for your time, Joey. We’re excited to see Draftpot grow over the course of the next couple of months and we’re going to head over now to hit up that lobby! Take care, Joey.
You heard the man, don’t wait any longer! Hurry into the forums to check out their first post and welcome them to the DailyRoto community and sign up for the site here for future offers like the one Joey mentioned.