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Focus RISK-FREE JACKPOTS


product with Lloyds and secure the licence with Malta's LGA. Each was not only a complicated process, but chicken and egg too - what comes first as each is dependent on the other?


choosing the right partners "We started with the simplest explanation of the idea - a jackpot without the need for liquidity," describes Nick. "We knew that we had to get a lotteries and gaming licence to secure the insurance contract, which we needed for the investment, which was needed to fund the first two parts. It's a vicious circle, but we had to start somewhere. We began by pitching the idea to 15 investors, with 13 agreeing to finance us, which was amazing in itself. We went to venture capitalists at the 15 month stage of the project to receive clarification that we could get to the go-live stage. They invested in the concept and in Stan and myself."


Nick Lynes – In 2003 Nick moved


to Gibraltar to work for 888 Plc as


Brand Manager of Pacific Poker. In


2005 he moved to Costa Rica to take the position of


Head of Poker at


BetOnSports Plc. In this role he re-


launched and grew BetOnSports Poker by 600 per cent in 15 months (3K to 18K per day). In


2006, Nick spoke at World Poker


Congress on the subject of poker


operations. In 2006 he commenced work for


PartyGaming Plc


where he launched the PartyBets brand, nine ITV gaming brands


and multi-currency, which was their


biggest initiative for two years.


60 per cent of proJects don't make it to


launch and 80 per cent run


out of money... topJack


launched on BudGet.


What's remarkable is that Topjack formed just at the point that the recession hit its lowest ebb, right in the middle of the credit crunch. That investors were willing to back such an unproven software project to fruition is testament to the strength of the initial idea and the bullet- proofing and galvanising both Stan and Nick conducted from the point of conception. When you consider that 60 per cent of software projects don't even make it to launch and 80 per cent run out of money, Topjack would go on to perform another miracle, launching on budget. "We had the schematics of how the system would be built and gathered all the quotes from suppliers well in advance," says Nick. "We launched on budget with additional features and games to those we'd originally envisaged."


Despite gathering investors behind them, Topjack needed to still convince both the LGA and Lloyds, explaining the brand new concept of prize indemnity insurance and the kind of infrastructure the two creators were looking to put into place. "The LGA accepted the idea in principle at a very early proposition stage, while in the background we were speaking to


June 2012 PAGE 44


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