As the new series of 'Dragons’ Den' has just started in the UK, we thought Poker Unclogged would bring news of the continued success story of Steve Bellis, founder of the Nuts Poker League.
For those who are unfamiliar with the show, think of it as ‘The Nerd Factor’: it features contestants who have ideas for business who have to make their pitch to five ‘Dragons’. The Dragons are highly successful entrepreneurs who decide if the idea is worthy of their investment.
A standard pitch might be ‘if you give me 50 grand, I’ll give you 25% of my company’.
Sometimes the idea is completely unmarketable, gimmicky and proves that having a few sarcastic friends can sometimes be a good thing: one punter fastened roller skates to his knees and wheeled himself around the floor to promote ‘Superknees’, before receiving a gentle push towards the garbage chute.
At other times, what seems to be a promising idea flounders as the Dragons’ questioning reveals inconsistencies and lack of forethought on the part of the (now sweaty) contestant.
Typically, one idea per show will receive a green light and, if it survives the period of due diligence (many don’t), the punter and the Dragon (who accepted the proposal) will go on to make their pots of gold.
Steve Bellis is one such punter.
When he appeared on the show in 2006, he wanted £50,000 backing to start a national poker league.
However, in a moment of television history that could yet be seen as the 21st century’s moon-landing moment, the Dragons offered him an extra £15,000.
Displaying the cool of an experienced poker player, Bellis later said, ‘With hindsight, I could have asked for more.’
His business has now reached the point at which he can think of turning investors away. The Nuts Poker League has been extended across the UK and he is looking to develop the project in France.
He has also recently teamed up with a travel firm called TR4 and is planning to organise poker holidays. Not one to miss a piece of the action, the idea originated from a trip to Lanzarote.
He said, ‘A lot of the places have karaoke and bingo but there are lots of people who want to play poker. We had a meeting with TR4 travel and discussed the possibility of taking 120 people.’
Some further research revealed that the majority of poker trips were to Las Vegas and were aimed at attracting the whales of the gaming community.
‘We wanted to offer something that was a bit closer to home, more relaxed and less expensive’.
Steve fully deserves his success for his combination of innovation and empathy. They are the skills of the top card player: he reads the situation extremely well and knows how to invest his cash.
We wager it won’t be long until we see Steve sat in his own comfy seat in the Dragons’ Den, watching the nervy hopefuls and providing life-changing moments simply by uttering, ‘I’m in.’
For those who are unfamiliar with the show, think of it as ‘The Nerd Factor’: it features contestants who have ideas for business who have to make their pitch to five ‘Dragons’. The Dragons are highly successful entrepreneurs who decide if the idea is worthy of their investment.
A standard pitch might be ‘if you give me 50 grand, I’ll give you 25% of my company’.
Sometimes the idea is completely unmarketable, gimmicky and proves that having a few sarcastic friends can sometimes be a good thing: one punter fastened roller skates to his knees and wheeled himself around the floor to promote ‘Superknees’, before receiving a gentle push towards the garbage chute.
At other times, what seems to be a promising idea flounders as the Dragons’ questioning reveals inconsistencies and lack of forethought on the part of the (now sweaty) contestant.
Typically, one idea per show will receive a green light and, if it survives the period of due diligence (many don’t), the punter and the Dragon (who accepted the proposal) will go on to make their pots of gold.
Steve Bellis is one such punter.
When he appeared on the show in 2006, he wanted £50,000 backing to start a national poker league.
However, in a moment of television history that could yet be seen as the 21st century’s moon-landing moment, the Dragons offered him an extra £15,000.
Displaying the cool of an experienced poker player, Bellis later said, ‘With hindsight, I could have asked for more.’
His business has now reached the point at which he can think of turning investors away. The Nuts Poker League has been extended across the UK and he is looking to develop the project in France.
He has also recently teamed up with a travel firm called TR4 and is planning to organise poker holidays. Not one to miss a piece of the action, the idea originated from a trip to Lanzarote.
He said, ‘A lot of the places have karaoke and bingo but there are lots of people who want to play poker. We had a meeting with TR4 travel and discussed the possibility of taking 120 people.’
Some further research revealed that the majority of poker trips were to Las Vegas and were aimed at attracting the whales of the gaming community.
‘We wanted to offer something that was a bit closer to home, more relaxed and less expensive’.
Steve fully deserves his success for his combination of innovation and empathy. They are the skills of the top card player: he reads the situation extremely well and knows how to invest his cash.
We wager it won’t be long until we see Steve sat in his own comfy seat in the Dragons’ Den, watching the nervy hopefuls and providing life-changing moments simply by uttering, ‘I’m in.’
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