Poker got a different kind of coverage this week when JJ Hazen pitched himself as a business proposition on Dragons' Den. Asking for a £65,000 investment for 40%, JJ made an assured pitch, but failed to win over the hearts and minds of the Dragons. You can watch JJ's pitch on BBC iPlayer and it's well worth watching, both from a poker and entrepreneurial point of view. The £65,000 pitch is based on Hazen being an exceptional poker player and he invites the Dragons' to gamble on his expertise.
Despite offering immediate reimbursement of any investment, should he win, plus the opportunity of a good return of investment (ROI), should be win big, none of the Dragons like the idea of this business gamble.
The problem with this pitch is that JJ Hazen was never going to win. Whilst Peter Jones and co may be happy taking a punt on an up and coming entrepreneur, they and The BBC may not want to be seen to be promoting gambling. Despite being potentially profitable, Hazen didn't have a product or tangible asset to offer - and we wonder whether the credibility of the Den would have been brought into question had they agreed a deal.
Mind you Theo Paphitis did manage to squander £200,000 of his children's inheritance on Gaming Alerts, so they're not adverse to having a punt on the gaming industry.
Overall though JJ Hazen is the winner! He's the subject of several poker industry blogs (e.g. Its a Winner, Betastic) and his profile will raised. Simply by being able to see "as seen on Dragons' Den" he may be able to accrue the £65,000 from sponsors wanting to be part of the bandwagon that's been created simply by being on the show.
