Tom Waterhouse
November 2024 Fund Update

As the dust settles on the U.S. election, prediction markets have captured attention far beyond traditional wagering circles. Polymarket handled over $3.6 billion on wagers on the election outcome, accurately predicting not only the President but also the results in every swing state. Historically, many exchanges have struggled to sustain activity beyond major headline events, limiting their capacity to provide consistently actionable insights. Today, a new wave of platforms are looking to overcome these challenges.

November 2024 Fund Update
Tom Waterhouse
October 2024 Fund Update

In the world of wagering, few names carry as much weight as Flutter Entertainment. Before Flutter, there was Paddy Power. Under Patrick Kennedy, Paddy Power became a major player in global wagering. A pivotal move was the acquisition of Australian operator Sportsbet, which set the blueprint for future international success. In 2016, Breon Corcoran led a £5.7B merger, creating Paddy Power Betfair, which laid the foundation for Flutter’s future dominance. In 2018, Peter Jackson took over as CEO, with the 2019 rebrand to Flutter Entertainment signalling ambitions far beyond a name change. Today, the ‘Flutter Edge’ - a combination of scale, product, technology, and expertise - continues to position the company as the dominant force in global wagering.

October 2024 Fund Update
Tom Waterhouse
September 2024 Fund Update

Data hasn't always been as central to sport and wagering as it is today. Michael Lewis’s book Moneyball, popularised data’s role in sport. As the internet grew, companies like Sportradar and Genius Sports emerged. Today, data companies drive everything from broadcasts and advertising to fantasy sports, wagering and league operations. AI and machine learning continue to unlock new opportunities for fan engagement, especially in the wagering industry. Racing & Sports, with whom Waterhouse VC has entered into a strategic partnership, is now poised to lead the transformation of racing.

September 2024 Fund Update
Tom Waterhouse
August 2024 Fund Update

Becoming the dominant force early in an industry can lead to significant competitive advantages, brand recognition, and customer loyalty. In the UK, Ladbrokes and William Hill emerged as the market leaders amongst a wide field of operators. By 1999, at the dawn of the internet era, there were 8,500 UK betting shops. The internet changed the way people ‘shop’ for bets, leading to a steady decline in high street betting shops. In their place, technology-lead operators like Flutter and Bet365 emerged.  

August 2024 Fund Update
Tom Waterhouse
July 2024 Fund Update

The fund started on 19 August 2019 and is approaching its 5 year anniversary. The fund returned +53.3% for the 2024 financial year and generated a positive return in 8 of the last 12 months. Two businesses in particular, Project Tennis and Saintly, contributed significantly to the fund's performance. As the fund matures, deal flow has accelerated, particularly in professional betting syndicates.

July 2024 Fund Update

Game On: Ausbiz Event

Game On: Ausbiz Event

Waterhouse VC participated in Ausbiz’s ‘Game On!’ event focused on gaming, gambling and tech. See Tom’s contribution to the event in this video.

October 2021 Fund Update

October 2021 Fund Update

Personality based marketing is something we are familiar with at TomWaterhouse.com. It's much easier to love, or hate, a real person rather than a faceless corporation. This strategy has been similarly employed by Dave Portnoy, “El Presidente” of Barstool Sports to grow a huge audience. Now, after being acquired by Penn National Gaming, Barstool is converting these fans into online betting customers and revenue very successfully.

Tom Waterhouse: Investment fund portfolio to play significant role in the US ecosystem

Tom Waterhouse: Investment fund portfolio to play significant role in the US ecosystem

Speaking exclusively to SBC News, Waterhouse discussed his extensive experience within the wagering and gaming industry, before highlighting ways in which Waterhouse VC is helping businesses ‘dominate their niche’ and explaining why he’s most excited about the continued growth of the US market and the emergence of gambling in the Metaverse.

September 2021 Fund Update

September 2021 Fund Update

We believe Flutter Entertainment is the highest quality global wagering operator, with a compelling valuation and long runway for international growth. Their U.S. brand FanDuel has strengthened market share, which is critical in an industry where marketing costs and taxes will put pressure on the smaller operators.

The opportunity in global racing data and budding U.S. wagering market

The opportunity in global racing data and budding U.S. wagering market

Tom appeared on Chris Judd’s Talk Ya Book show to discuss Waterhouse VC’s performance to date, the global racing industry, the fund’s position in Betmakers Technology Group, and the huge potential from the budding U.S. wagering market.

Tom Waterhouse hits the jackpot with punt on gambling shares

Tom Waterhouse hits the jackpot with punt on gambling shares

Bookmaker turned fledging funds manager Tom Waterhouse has made an eye-opening return of more than 1800 per cent in two years buying shares gambling shares for …

August 2021 Fund Update

August 2021 Fund Update

We believe that gamblers and gamers in Asia, and other jurisdictions with strict controls on these activities, will increasingly seek freedom in the metaverse, transacting through a private, decentralised currency.

July 2021 Fund Update

July 2021 Fund Update

With the completion of a second financial year of performance under our belts, this newsletter will review the Fund’s performance, contributors and detractors, our approach to portfolio construction, and the opportunities ahead.

What Tom bet on next

What Tom bet on next

Tom Waterhouse, Chief investment Officer at Waterhouse VC, says PlayUp's strong mangement, tech and talent make it a wagering business worth betting on.

June 2021 Fund Update

June 2021 Fund Update

During the month, the fund exited its position in Ubisoft, initially covered in our January 2020 newsletter. We are exploring multiple exciting opportunities, which we believe provide a greater return profile for our investors.