In 2019, entrepreneur Kevin Koeppel did something that not many have had the mettle or business savvy to do. He made the mighty and seemingly impenetrable daily fantasy sports industry uneasy.
Kevin didn’t come up with a way to beat the house or bankrupt any of the dozens of sports-wagering apps by beating the odds and breaking the bank. No. His was a much more strategic and well laid-out plan that capitalized on his resourcefulness, will, and aptitude for finance and enterprise. The company is No House Advantage and it’s the most innovative daily fantasy sports platform to arrive in years.
So what’s all the hype about? With new options for wagering popping up regularly, what is so different about this one, and why did more than 30,000 users flock to No House Advantage in its fledgling state? The answer is “player prop betting” and it has tipped the scales toward the players and away from the proprietors.
Player prop betting is a wager that is based on an athlete’s statistics, not the team’s final score. Users can bet on how many touchdowns their favorite running back will record or how many points an NBA player might get. Best of all, they aren’t betting against the house, as in other platforms—they’re betting against other users. Earn more points with your lineup than other users do with theirs, and you’re a winner! And it’s not just for the NFL or NBA. No House Advantage offers the full spectrum of sports, including MLB and PGA. With or without experience, users can avoid unfair advantages with expert players identified and “Beginners Only” contests. Plus, because No House Advantage is a daily fantasy sports platform, it’s available in more states than most of its competitors. As Kevin explains, “We find ours to be very different in that it combines the best components of sports betting and daily fantasy sports. Users are betting on confidence-weighted spreads in a contest model.”
It's of no surprise that the wildly popular and innovative platform attracted the attention of venture capitalists and investors in just over two years in operation. In 2021, Kevin sold a majority stake of the company, while retaining his position as CEO. And, in another clear example of how his platform differs from most others, Kevin started it from scratch, self-funded it, and built it up to its VC-appealing status. As he often shares, “My heart, soul, mind, and focus are on continuing to grow this company, to build upon the reputation that we’ve been fortunate enough to gain in such a short time as a world-class betting platform.” In that pursuit, Kevin remains very hands-on, overseeing the entire company, including product development, brand messaging, and navigating the legal landscape of the daily fantasy sports industry.
We wanted to learn more about this standout of fantasy sports platforms and the man who conceptualized it, funded it, built it, and marketed it.
Kevin, where did the idea for No House Advantage come from?
In 2018, in my sophomore year at USC, I was studying daily fantasy sports companies and discovered that our “Player Prop” model didn’t exist. All the apps used the same “bet against the house” method. I wanted to come up with a new product, and since I always had an interest in sports betting operations, I knew I could create one. I hired a developer and drew the wireframes myself so that I could see and test its functionality. From idea to first iteration, a website and mobile app, it was just seven months. I continued to make improvements until its release in 2019.
Tell us about your startup phase and how your unique model has attracted so many users so quickly.
In the startup stage, I didn’t want outside funding, so I footed all the costs personally. Once I had a successful and attractive product, I decided that the resources of a private equity company could help us grow to where we were competing at a higher level. With the capital investment made, we really took off, and we’ve continued along that trajectory at a parabolic rate. It’s been a lot of hard work and persistence, but our users love the platform. They send us emails raving about our features and how different we are from other fantasy sports platforms.
What does the future look like for No House Advantage?
I plan to grow the current daily fantasy sports business by adding products and giving users more options and multiple games. Ultimately, I’d like to enter the digital sports book and casino sectors, wherein we would have a presence across every part of the industry—fantasy sports, sports betting, and casino games. We’re also in the process of expanding to more states. My sole focus is on this company, but I have some other ideas brewing that are slowly developing. It’s been an exciting ride, and I’m loving every second of it.
Lastly, Kevin, what do you enjoy most about your work?
Just the pursuit of success and creating something that people love to play. That’s what drives me. We put so much blood, sweat, and tears into this company, and to see it thriving and more and more people enjoying the experience is the greatest reward.
Kevin holds a B.B.A. from the University of Miami, Undergraduate School of Business and an MBA from the University of Southern California, Marshall School of Business.
Kevin Koeppel, Founder/CEO
No House Advantage
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