1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
Preparing video
Key points:
Global online sports betting expands, with emphasis on tech providers in emerging regions Prediction markets such as Kalshi and Polymarket use regulatory advantages to disrupt the US market Racing and Sports (ASX:RTH) praised for its data infrastructure and new partnerships with BetMGM and LeoVegas Australia recognised as a global leader in online betting participation and innovation
Tom Waterhouse from Waterhouse VC shares views on the fast-evolving global wagering and gaming sector, highlighting major developments following his team’s attendance at conferences across Lisbon, Las Vegas, Georgia, and Cyprus. Waterhouse sees the industry becoming increasingly globalised, with the expansion of regulated online sports betting in markets such as the US, Brazil, Eastern Europe, UK, and Hong Kong. He regards technology providers, particularly those based in Eastern Europe and South America, as significant sources of growth. There is a focus on identifying these suppliers and expanding them into key markets including the US, Hong Kong, and Australia.
Waterhouse points to the US market, where prediction markets like Kalshi and Polymarket are making headway by operating under financial regulation, giving them a considerable tax advantage over giants such as FanDuel, owned by Flutter Entertainment (FLUT). These new entrants can offer betting services in states such as California and Texas, where large operators often face high state taxes or legal restrictions. Waterhouse notes Polymarket’s substantial increase in valuation throughout the year and references recent gains in Flutter’s share performance.
Locally, Waterhouse singles out Racing and Sports (ASX:RTH) for its data supply to the racing industry and highlights its recent deal with BetMGM and LeoVegas in the UK as evidence of strong growth prospects. Waterhouse underscores Australia's leading role globally in online betting, citing thriving local businesses and the country’s high gambling participation rate.
