British poker player JJ Hazan pitched for a £65,000 stake in BBC1’s hit television series, the Dragons Den.
In an unusual request, Hazan offered the wealthy entrepreneurs 40% equity on all his tournament winnings for the next calendar year. He described how he was a ‘very good player’ boasting a ROI (Rate of Income) of 240, and planned to play 33 tournaments. Hazan pledged the first £50,000 in tournament winnings straight to the investors.
Despite a very polished, confident pitch, where Hazan cheekily offered the Dragons for a quick game of poker, telecommunications mogul Peter Jones was quick to declare himself out of the running. Deborah Meaden claimed she was unwilling to invest in a game she was unfamiliar with, and James Caan quietly bowed out.
Poker enthusiasts Theo Paphitis and Duncan Bannatyne seemed more interested, however the former argued he’d rather gamble with his own money. Poker aficionado Bannatyne refused to part with £65,000, but exclaimed he’d be seeing Hazan at the tables.
Although Hazan’s appearance alone may be seen as a victory for poker’s popularity in Britain, a vague description of his abilities did not endear himself. Hazan failed to mention his 2nd place at the $5000 Dutch Masters Classic in Amsterdam, which saw him pick up a juicy $ 452,997. 33 tournaments are not enough to overcome variance – Hazan’s proposal would have represented less of a gamble if he offered equity on a lifetime of winnings.
Failure to secure an investment has seen Hazan cash only $9,000 since the making of the show, on the Grosvenor UK Poker Tour.