Tom Waterhouse, the founder of Waterhouse VC, recently discussed the rising trend of crypto wagering and how companies can stand out in a crowded market. He quoted Steve Jobs, emphasizing the importance of seeing change as an opportunity rather than a threat. The wagering industry has always been a leader in innovation, particularly in user experience, marketing, and payment solutions.
Crypto operators like Sportsbet.io and Stake.com are setting the bar high with their user-friendly platforms and innovative marketing strategies. Sportsbet.io, for example, reported a massive monthly turnover of US$2.7 billion in May 2022. This figure far surpasses the average turnover of traditional operators in Australia, highlighting the growing impact of crypto wagering on the market.
Waterhouse also discussed the power of micro-influencers in the industry. While giants like Stake collaborate with high-profile celebrities like Drake, emerging platforms like Shuffle.com are focusing on smaller influencers with dedicated followings. This strategy has proven to be cost-effective and yields higher returns per dollar spent.
Speaking of Shuffle, the platform has quickly made a name for itself in the crypto wagering space since its launch in 2023. Led by Noah Dummett, Shuffle aims to rival established exchanges in terms of scale and profitability. The platform’s strategic partnerships with sports teams and celebrities, combined with a focus on user engagement and retention, have been key to its success.
Waterhouse VC also highlights the role of B2B suppliers in driving innovation within the industry. By investing in these suppliers, companies can differentiate themselves through superior product offerings and enhanced user experiences. Additionally, new entrants can maximize success by targeting niche markets and leveraging local expertise for tailored marketing strategies.
Overall, companies like Shuffle, Stake, and Sportsbet.io are leading the way in innovation within the wagering industry. By focusing on product differentiation, strategic partnerships, and user experience, these operators are shaping the future of crypto wagering. As the industry continues to evolve, staying agile and responsive to market trends will be crucial for sustained growth and success.