Daily Fantasy Sports app Hedge announced on Thursday that their iOS app is now available in the app store (get it here). We connected with Co-Founder Jackson Fitzgerald who took the time out of his busy schedule to answer a few questions about the app and their plans for 2021.
About Hedge. Hedge is a gaming platform where you can use spare change to bet. Think of it as the Acorns of DFS. Hedge’s Daily Fantasy Contests allow for $0.25 and $0.50 round-ups to turn into $25, $50, or more.
Tell me about the background of Hedge. Who came up with the idea? And what’s your end goal?
Fitzgerald. My Co-founders (Alec Gutsche and Jon Hansan) and I were all tired of the FinTech space innovating much faster than the gaming space, and we wanted to create the innovations that we simply wish we had.
We came up with the idea together, and we hope that we can simply push the industry into that innovative mindset by showing that users crave new products, not just promotions.
There are several betting apps on the market today, and new ones are popping up each month. What is Hedge’s contribution to the growing sports betting and DFS market in the US?
Fitzgerald. We are tailoring a great application for the casual player, particularly those between the ages of 18-25. More specifically, we hope that we can get a large number of first-time users who do not want to break the bank by entering the industry.
Specifically, by allowing these first-time users to merely attach their spare change without sacrificing their user experience, we are hoping to differentiate as a great user-friendly alternative in the DFS space.
What is the college ambassador program and how can one sign up?
Fitzgerald. A college ambassador is simply someone who helps us gain attention and notoriety on college campuses.
With DFS being legal in the majority of states for 18 year olds, many key users for us are first-year and second-year college students. We think we can learn the most from these users.
If someone is interested in being a college ambassador, they can simply sign-up on our landing page.
Maria Ho is an advisor to Hedge. Tell me about how that came to be
Fitzgerald. Our two advisors, Dave Epstein and Maria Ho, were great for showing interest in us early. We found them both online and simply reached out to gauge their interest. Thankfully, they are taking a chance on us and sharing their insight and expertise!
Spare change investment is quite “now”, are you worried that we’re in a bubble that will pop at some point?
Fitzgerald. This is always a possibility, but what is great about spare change configuration is that it is so seamless and minimal that I find it hard to see how such a bubble would pop. I would say that it is more of a trendy feature than a potential bubble, and we simply hope to expand the options on such a trend.
I actually think we are adding great value to this functionality by allowing users to connect it to a separate function that they desire. Investing and Saving are currently the two main functions for spare change; by adding this new vertical, we would only expand its popularity.
Finally, what are your plans for the future? You have 350k of seed – what is the next big move for Hedge?
Fitzgerald. We really are focusing on what user needs and desires are right now. We are excited to scale up soon, but before doing so, want to maximize our own application for our current users, hoping their problems are solved. Maybe more to come by next football season!