In 2007, an investor on the BBC2 reality series Dragon’s Den  threw down a ?200,000 investment for a 30 percent share of Gaming Alerts Limited, a UK bingo affiliate site. On this episode, Dragon Theo Paphitis, a British retail magnate, was the only investor willing to take a chance on an affiliate site. For gaming affiliates, the show was especially interesting because it so neatly encapsulated several industry trends into one TV-ready moment. Gaming Alerts Limited went to the dragons for an investment because they felt the UK bingo market was entirely too crowded but that affiliate bingo still had some potential. Anyone familiar with the European gaming industry knows that the Spanish market is huge and still very much in play.

The pair also used the investor cash to open up new bingo forum to augment their UK operations.
In affiliate forums, including CAP, gaming affiliates debated the value of the bingo sites, pointing that that most of the Gaming Alerts forums seem fairly inactive. The thread attracted quite a bit of conversation, and so we decided to look into this story. That’s quite a high valuation for a bingo site, so where does it stand nearly five years later? Entrepreneurs appear on the show pitching their businesses to a panel of investors who then negotiate a deal to work with them.

The other Dragons took a pass on the offer because they weren’t completely sold on the business model.
So, armed with a fistful of research the company founders, Emmie Matthews and Ed Stevens, pitched the Dragons on the idea of a Spanish expansion.

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