DerbyJackpot has attracted 200,000 players

DerbyJackpot, an online betting enterprise launched by Giddy Apps across 37 US states last year is delivering the goods for its owners; it has attracted 200,000 new young players to horse racing and has handled over $10 million in wagers so far.

The concept combines the appeal of online gaming, social media and horse racing, allowing players to place bets using major credit cards or bank transfers at more than 100 race tracks across the U.S. by taking advantage of a loophole that makes betting on horse races one of the few legal forms of online gambling in the States.

Players can see a live video feed of each race on their computer screens while they chat with competitors. The ease of online use has attracted younger fans as no knowledge of arcane horse racing is required. In fact, the overwhelming majority of users have never been to a track or previously gambled on the sport, Forbes magazine observes.

The company appeals to investors; a recent round of funding led by Bullpen Capital, which has invested in companies such as fantasy sports platform Fan Duel, raised $6.2 million, which has enabled Giddy Apps to prepare to launch its second horse racing gaming product in January 2015.

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