https://www.waterhousevc.com/news-archive daily 0.75 2026-01-27 https://www.waterhousevc.com/news-archive/march-2026-fund-update monthly 0.5 2026-03-24 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/62bf763a-4569-4b4b-96e8-8190855c0069/1.png News - March 2026 Fund Update - Make it stand out On a player-IP basis, regulated play reached 47% of Q4 2025 revenue, up from roughly 39-41% in prior quarters. Source: Evolution https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/e6ef529f-c0ed-4afb-8674-ae9729bc6a31/2.jpg News - March 2026 Fund Update - Make it stand out Evolution’s Monopoly Live game show displayed at ICE Barcelona 2026. Source: Thiago Prudencio/SOPA Images/LightRocket via Getty Images https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/63dbef26-dae7-49a0-8eb3-1de5e6e41bd1/3.png News - March 2026 Fund Update - Make it stand out Evolution’s trailing P/E has compressed sharply from earlier peak levels to around 10x as at 20 March 2026. Source: Waterhouse VC analysis based on Evolution filings, ECB EUR/SEK reference rates and market prices. https://www.waterhousevc.com/news-archive/february-2026-fund-update monthly 0.5 2026-03-24 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/f26e949f-ac02-4e87-8125-faf73a010fd5/1.jpg News - February 2026 Fund Update - Make it stand out Jonah Lomu in full flight against France. Source: Dave Rogers / Allsport via Getty Images https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/c8307a6f-6e21-447f-acf2-852d3ffcaa60/2.png News - February 2026 Fund Update - Make it stand out NZ media coverage of offshore online casino use among students. Source: stuff.co.nz https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/4d6fa7bd-e525-493b-816e-85c55ae55615/3.jpg News - February 2026 Fund Update - Make it stand out UK horseracing online betting turnover is in decline. Source: UK Gambling Commission (via Paul Fitzgerald on X) https://www.waterhousevc.com/news-archive/january-2026-fund-update monthly 0.5 2026-02-18 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/92101a98-1b82-4e42-908a-c61b32c830ec/Screenshot+2026-01-27+at+1.25.58%E2%80%AFpm.png News - January 2026 Fund Update - Make it stand out Inception date 19/08/2019. Performance as at 31/12/2025, shown before all fees and expenses and assumes the reinvestment of all distributions on July 1 each year. We make every endeavour to ensure results are accurate. The results are indicative only and subject to subsequent year end external financial review. Past performance is not a reliable indicator of future performance. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/59b8592e-97a6-464c-9f09-5f65c24cde35/image3.png News - January 2026 Fund Update - Make it stand out The large differential between gaming margins for US bookmakers on single bets vs parlays. Source: Citizens Bank https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/4cb8f322-f351-4513-909d-52c4560a7779/image1.png News - January 2026 Fund Update - Make it stand out Figures based on the 15 November 2025 rebalance. The 13F strategy is shown on a model equal-weighted basis to illustrate industrial composition relative to the market-cap weighted S&P 500. This model may vary from actual holdings due to market fluctuations and timing of fund inflows. https://www.waterhousevc.com/news-archive/december-2025-fund-update monthly 0.5 2025-12-10 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/9e2a526f-306a-4b74-8abd-d1d3193de23d/Screenshot+2025-12-10+at+14.58.41.png News - December 2025 Fund Update - Make it stand out Rihanna showcasing her Labubu doll - $10-$20 blind box collectibles where rare editions resell for thousands, with much of the virality driven on TikTok. Source: X https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/00fa9470-f5b4-4cb5-b91c-2544fc546266/2.png News - December 2025 Fund Update - Make it stand out AWP Dragon Lore valued between $11,000 - $13,500 across several marketplaces. Source: Steam Community https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/edc750cd-896b-455c-bea9-744d9034a3e0/3.png News - December 2025 Fund Update - Make it stand out Snapshot of some of the high value skins currently trading on one of many marketplaces. Source: Price Empire https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/93d638b8-ffa2-40a5-90ea-a9577a0a3a06/4.png News - December 2025 Fund Update - Make it stand out CS2 Team Vitality announced a major multi-year agreement with Stake. Source: Vitality https://www.waterhousevc.com/news-archive/november-2025-fund-update monthly 0.5 2025-12-10 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/c824eaf7-de99-4946-92b1-8b87a359feeb/1.png News - November 2025 Fund Update - Make it stand out Margin performance by product across all US sports. Source: Huddle https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/85e54b1b-c890-4f34-81ef-d4789cc55ffc/Screenshot+2025-11-26+at+11.33.07.png News - November 2025 Fund Update - Make it stand out Illustrative margin impact on $1 billion handle (assuming 5% single hold, 25% SGP hold) https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/df828e76-b6aa-4a36-a8bb-f173036ab955/2.png News - November 2025 Fund Update - Make it stand out Bet365 website interface in 2004. Source: whatdiditlooklike https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1eb47c06-dde0-4962-a202-c122e5b5cedf/3.png News - November 2025 Fund Update - Make it stand out Coxy85’s forum question that sparked SGP development: why same-game multis weren’t possible. Source: Whirlpool https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/919b696b-2d78-45e5-9cef-2de6b6cbda6a/4.png News - November 2025 Fund Update - Make it stand out SGP slip that pays 26.0 for the 1st Ashes Test. Source: Bet365 https://www.waterhousevc.com/news-archive/october-2025-fund-update monthly 0.5 2025-11-26 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/308197f7-ba7e-45d9-8352-517f63ae024b/1.jpg News - October 2025 Fund Update - Make it stand out Flemington Rails circa 1991. Gavin (back), Adrian (center), and Bernard (right) Marantelli with Boris Bertschik (left). https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/13148702-c601-411b-9a30-7a354c6c6512/2.png News - October 2025 Fund Update - Make it stand out Million-pound pools put up by Colossus for football accumulators. Source: Colossus Bets https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/e47fece1-28cd-47ff-a5ee-3aebd8295ec2/3.jpg News - October 2025 Fund Update - Make it stand out Marantelli’s latest venture takes Colossus principles to Fantasy with $1 million jackpots and has gone live in the U.S. Source: Colossus Fantasy https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/f232ef58-76cd-4d5c-96cb-f8be967a3933/4.jpg News - October 2025 Fund Update - Make it stand out Boxes stacked high filled with 25.8 million lottery tickets. When the numbers were announced, the search began. Source: WSD https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/6c71158a-5a44-4ece-8c73-990a06cee753/5.jpg News - October 2025 Fund Update - Make it stand out Cumulative total spend on Lottery Tickets. Source: WSD https://www.waterhousevc.com/news-archive/september-2025-fund-update monthly 0.5 2025-10-26 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/248ea296-29d7-48bd-959f-7697a98c2c41/Offshore+market+share.png News - September 2025 Fund Update - Make it stand out The harder it is to access regulated betting, the more players turn offshore. A warning for Japan. Source: Regulus Partners https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1eec57b6-7895-48aa-a7e8-db74839e1501/Commodore+Perry.jpg News - September 2025 Fund Update - Make it stand out Commodore Perry Coming Ashore at Yokohama, attributed to Wilhelm Heine. Source: Yokohama Archives of History https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/a4f4a70a-7f98-4ab1-b6d3-f1b9ee752630/Japan+Cup.jpg News - September 2025 Fund Update - Make it stand out Huge crowds at the Japan Cup. Source: CNN https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/6de97f83-13e5-4ceb-87e8-075a6d63ab19/Uma+Musume.png News - September 2025 Fund Update - Make it stand out Uma Musume. An anime-style game is bringing a new audience to racing. The game has raked in >US$2 billion in revenue since it launched in 2021. Source: Uma Musume https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/b10bc324-7e50-44ed-bca9-8c7b0349a608/Pachinko+parlor.jpg News - September 2025 Fund Update - Make it stand out Pachinko parlor in Japan. Source: Waterhouse VC https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/04e86b41-a8a8-4300-8286-5fb2525d8bf5/Stake+pachinko+games.png News - September 2025 Fund Update - Make it stand out Digital alternatives to Pachinko and Plinko. Source: Stake https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/d09e3ecb-ffd6-4632-bb37-d589b65e7385/toto+kiosk.jpg News - September 2025 Fund Update - Make it stand out Kiosk in Tokyo sells toto coupons. Source: Web Japan https://www.waterhousevc.com/news-archive/august-2025-fund-update monthly 0.5 2025-09-28 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/8ca8954b-a0e0-427d-9150-d51228115da5/image3.png News - August 2025 Fund Update - Make it stand out Polymarket founder Shayne Coplan posting on X about Polymarket’s forthcoming return to the U.S. Source: X https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/40c0528c-4c89-48f5-84c6-3ff399a040a3/image7.png News - August 2025 Fund Update - Make it stand out Of the 20 Bitcoin-only markets listed on Polymarket, Kalshi has just 7 in total. Polymarket’s “Bitcoin by end of year” market alone has traded more than $23 million, compared with under $10 million across the equivalent markets on Kalshi. Source: Polymarket https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/b55c4ced-81f7-4b6a-908c-4843c856f222/image5.png News - August 2025 Fund Update - Make it stand out Average profit and chance of being asked for enhanced financial risk check by gambler type. Source: sharpbetting.co.uk https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/bfac7e03-69bd-4b94-bb1e-e548bf5036dc/image8.jpg News - August 2025 Fund Update - Make it stand out 75% of Kalshi’s Volume last month was on sports. Source X.com https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/a077a3c5-7f66-41b7-9f12-f4d97877d149/image9.png News - August 2025 Fund Update - Make it stand out Kalshi's merchandise which critics cite as evidence the platform knows it's in the betting business. Source: Kalshi https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/4981a92d-523e-45e7-9ca5-8df682b65d13/image4.png News - August 2025 Fund Update - Make it stand out Kalshi CEO Tarek Mansour highlighting the legal challenges the company is facing. Source: X.com https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/7b126972-a2e3-4d11-adde-100c8e5b3088/image2.png News - August 2025 Fund Update - Make it stand out User interacting with the “Ask Polymarket” feature. Source: X https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/53623378-aefa-4a0c-a0a2-8bbeda39e96b/image1.png News - August 2025 Fund Update - Make it stand out One of many examples of a market you would not find anywhere else. This is an appealing factor for prediction markets. Source: Polymarket https://www.waterhousevc.com/news-archive/july-2025-fund-update monthly 0.5 2025-08-22 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/f16861b0-cc2a-42cc-9604-77fb8f37ed11/1_07.png News - July 2025 Fund Update - Make it stand out Online betting turnover has been falling since the introduction of affordability / financial risk checks. Source: Chris Fawcett on X.com https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/ea05eeb1-d263-4c26-bcca-0ecfe4452c92/2_07.jpg News - July 2025 Fund Update - Make it stand out Bookmaker online margin has been increasing since 2019. Source: Chris Fawcett on X.com https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/6cabe451-9ae9-4b8c-8994-8f0017524fe3/3_07.png News - July 2025 Fund Update - Make it stand out Average profit and chance of being asked for enhanced financial risk check by gambler type. Source: sharpbetting.co.uk https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/6b2e7fe4-a131-47d4-b1ab-b5acffc4962d/4_07.png News - July 2025 Fund Update - Make it stand out Estimated UK black market stakes in 2024. Source: Frontier Economics https://www.waterhousevc.com/news-archive/june-2025-fund-update monthly 0.5 2025-07-28 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/e3596b5d-396d-4ac5-aa0d-8f359705c55f/Igaming+Legal.png News - June 2025 Fund Update - Make it stand out Only seven states have legalised iGaming. Source: Birches Health https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/0b076bd5-27df-4bf9-87fa-c64009bd3a59/Laurence+VGW.png News - June 2025 Fund Update - Make it stand out Frédéric Vasseur, Principal of Scuderia Ferrari & Laurence Escalante, CEO of VGW. Source: Lance East Office https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/3f3ab57d-4759-4d61-8a7c-4776df7b6746/VGW+Ryan+Seacrest.jpg News - June 2025 Fund Update - Make it stand out TV personality Ryan Seacrest has become a brand ambassador for VGW. Source: VGW https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/f6197aae-8632-42cc-a5b1-384b09e3b20a/Sweepstakes.png News - June 2025 Fund Update - Make it stand out Average monthly deposit comparison between Sweepstakes and Real-Money Gaming. Source: Optimove https://www.waterhousevc.com/news-archive/may-2025-fund-update monthly 0.5 2025-06-12 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/fcb898a4-7485-4885-b992-f617fe27e456/Star+Sports+betting+shop.png News - May 2025 Fund Update - Make it stand out Star Sports betting shop on Curzon Street, Mayfair. Source: Star Sports https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/aa592ec3-9665-4fcb-932d-f03473824efc/Bookmakers+tic-tac.png News - May 2025 Fund Update - Make it stand out Bookmakers used to signal and communicate prices through tic-tac. Source: Star Sports https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/042e6052-c787-47f9-9099-b0e45390ab82/Ben+Keith+with+Simon+Nott.jpg News - May 2025 Fund Update - Make it stand out Ben Keith with Simon Nott and Martin “Lofty” Chapman, manning the pitch at Towcester. Source: Ben Keith https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/48618eae-1c28-49cb-82fd-c3fbb4e296b4/Ben+Keith+at+Quaglinos.jpg News - May 2025 Fund Update - Make it stand out Ben Keith at Quaglinos in London. Source: X.com https://www.waterhousevc.com/news-archive/april-2025-fund-update monthly 0.5 2025-05-22 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/14885247-586a-49c5-afb4-1fcfeff0cc3e/Tony+Bloom.jpg News - April 2025 Fund Update - Make it stand out Brighton owner and Starlizard founder Tony Bloom, who received an MBE, celebrating with the fans. Source: Daily Mail https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/6df3c279-d790-4281-a323-66be930b1d82/Betting+JD.png News - April 2025 Fund Update - Make it stand out Job application requirements for a racing syndicate. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/83bb50dc-a756-49f4-b3ef-226a8bc12703/Brighton%27s+Top+Transfers.png News - April 2025 Fund Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.waterhousevc.com/news-archive/march-2025-fund-update monthly 0.5 2025-03-16 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/2f79fc88-d031-4c9a-aa38-5c641aad8d83/1.png News - March 2025 Fund Update - Make it stand out Jogo do Bicho stickers - A game played widely in Brazil until recently. Source: The Guardian https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/e13b1c8e-38c1-4bb7-885e-f3015e94cf08/2.jpg News - March 2025 Fund Update - Make it stand out Brazil’s Yuri Dzivielevski has won five World Series of Poker bracelets. Source: Cardplayer.com https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/375c5b58-4907-4b27-bc88-fda584097ff3/3.png News - March 2025 Fund Update - Make it stand out Brazil has a high percentage of esport bettors. Source: IGB https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/18601473-4a4a-4597-8787-82a773538207/4.png News - March 2025 Fund Update - Make it stand out January 2025 breakdown of licensed vs illegal market gross win. Source: H2GC https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/04f387c4-31f9-47f1-a17f-658132ca60bd/Market+Share+Brazil.png News - March 2025 Fund Update - Make it stand out Online Betting Market Share Brazil January 2025. Source: H2GC https://www.waterhousevc.com/news-archive/february-2025-fund-update monthly 0.5 2025-04-17 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/15a2ddd1-97be-4f27-a6e4-24dbba201c4b/Luana+Lopes+Lara+and+Tarek+Mansour.jpg News - February 2025 Fund Update - Make it stand out Kalshi co-founders Luana Lopes Lara and Tarek Mansour. Source: LinkedIn https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/321e9bae-b3b2-4a3e-af5a-30e5e200e440/Election+volume.png News - February 2025 Fund Update - Make it stand out 2024 trading volumes on the U.S. election market, by platform. Source: X.com https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/8dd99adc-37ee-4c32-bc39-4ce17b69fc28/Oscar+for+Best+Picture.jpg News - February 2025 Fund Update - Make it stand out Kalshi co-founder Tarek Mansour with ‘Oscar for Best Picture’ market. Source: The Ankler https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/7c4f1ec1-9735-4fc4-ac1d-b0dbdaa75086/Tarek+Mansour+advertising+sports+betting.png News - February 2025 Fund Update - Make it stand out Tarek Mansour advertising sports betting for the entire U.S. market. Source: X.com https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/3c2a3341-40ca-4617-8668-5cb07f14ceb6/Impressive+liquidity+volumes.png News - February 2025 Fund Update - Make it stand out Impressive liquidity volumes for a broad range of markets on Kalshi. Source: Kalshi https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/0279da93-1376-48b4-9752-01fb546e6b10/Susquehanna+announcement.jpg News - February 2025 Fund Update - Make it stand out Susquehanna announcement of trading desk for event contracts. Source: Bloomberg https://www.waterhousevc.com/news-archive/january-2025 monthly 0.5 2025-02-16 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/12198f54-15f5-44bd-ad65-491859d175ac/1.png News - January 2025 Fund Update - Make it stand out The growth of an investment in the Waterhouse VC Fund since 19/08/2019. Performance as at 31/12/2024, shown before all fees and expenses and assumes the reinvestment of all distributions on July 1. We make every endeavour to ensure results are accurate. The results are indicative only and subject to subsequent year end external financial review. Past performance is not a reliable indicator of future performance. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/3136c0ea-a403-4618-8f0a-70f4a39fc2fe/Screenshot+2025-01-29+at+14.32.37.png News - January 2025 Fund Update - Make it stand out *Inception date 19/08/2019. Performance as at 31/12/2024, shown before all fees and expenses and assumes the reinvestment of all distributions on July 1. We make every endeavour to ensure results are accurate. The results are indicative only and subject to subsequent year end external financial review. Past performance is not a reliable indicator of future performance. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/6f3949ee-10cc-4ecf-8019-e8f592add869/Screenshot+2025-01-29+at+14.37.16.png News - January 2025 Fund Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/28162295-0658-4015-b416-1688d0ec8b32/2.jpeg News - January 2025 Fund Update - Make it stand out Waterhouse VC Webinar: Online Gambling's New Frontier, recorded in December 2024. https://www.waterhousevc.com/news-archive/december-2024 monthly 0.5 2025-03-16 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/21af635a-7f2b-4f5c-bb5e-75aa443787f1/1.png News - December 2024 Fund Update - Make it stand out Nigel and Lesley Eccles in the FanDuel offices. Source: Medium https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/9f1b4639-575f-4c1a-a13c-6491a5dbf9fb/2.png News - December 2024 Fund Update - Make it stand out BetDEX interface brings a new look to exchange betting. Source: Caanberry https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/66f401c5-ddb9-402c-996b-e8649b115abc/3.png News - December 2024 Fund Update - Make it stand out Memecoin price action prediction games on BetHog called HODL. Source: BetHog https://www.waterhousevc.com/news-archive/november-2024 monthly 0.5 2025-03-16 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/96e1c543-323f-4d2b-ad91-c14bfc8b2d2d/1.png News - November 2024 Fund Update - Make it stand out Polymarket accurately predicted Swing States well ahead of the Associated Press. Source: X https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/ac324624-a6eb-444f-8c55-4c44ecb3013c/2.png News - November 2024 Fund Update - Make it stand out The Champions League Winner Market currently has over $420 million of wagering handle. Source: Polymarket https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/303d5c30-2f26-494d-b787-fdfbac2b9a85/3.png News - November 2024 Fund Update - Make it stand out 2024 Presidential Winner Market Volume (Millions) Source: X https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/bff9e0ac-f9f7-4dce-b947-681c9e28d2a4/4.jpg News - November 2024 Fund Update - Make it stand out Shayne Coplan’s makeshift bathroom office in 2020. Source: X https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/d99f5865-cd5d-4738-ad55-d70f7521d83d/5.png News - November 2024 Fund Update - Make it stand out Polymarket founder Shayne Coplan showing the platform's broader impact. Source: X https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/6a21970d-1c39-4098-bb65-4ac5c6443a5c/6.png News - November 2024 Fund Update - Make it stand out Prediction markets and betting sites were a step ahead of traditional news outlets. Source: predictionnews.com https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/caa952be-9fe2-4c63-bcd0-5df8ee96dd8a/7.png News - November 2024 Fund Update - Make it stand out Trading volumes for Jake Paul vs Mike Tyson exceed $57 million showing that Polymarket’s well positioned to be a major force in global gambling. Source: X https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/c3d8cf1c-5f08-47e2-b72b-509aa7437993/8.png News - November 2024 Fund Update - Make it stand out Free publicity for Polymarket from the future and former President on X. Source: X https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/b9ca4ab2-69e5-43a4-8c38-caccce183019/9.png News - November 2024 Fund Update - Make it stand out Polymarket daily trading volume spiking during the election. Source: Dune Analytics https://www.waterhousevc.com/news-archive/october-2024 monthly 0.5 2025-05-06 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/3834d0e8-1165-4df4-9e0e-9f374f112315/1.png News - October 2024 Fund Update - Make it stand out Nicklas Bendtner celebrating his goal during the 2012 Euros in his Paddy Power lucky pants. He was fined €100,000 for the stunt. Source: Paddy Power https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/5dfde7f5-3e8c-4dd3-a41e-51147e22aa83/Screenshot+2024-10-20+at+08.02.27.png News - October 2024 Fund Update - Make it stand out Advantages of combining forces presented in a Prospectus December 2015 (Pre-Merger). Source: Flutter Entertainment Plc https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/326a93ae-4f0d-4d4d-a28e-ae8aa01934f8/5.png News - October 2024 Fund Update - Make it stand out The decline of Betfair exchange liquidity - highlighting the need for diversification. Source: Racing Post / X https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/7aa8fedf-664a-4c7e-a9ea-3bc1ef66ad46/6.png News - October 2024 Fund Update - Make it stand out Combined brands of the £10 billion merger with the Stars Group. Source Flutter Entertainment Plc https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/d19b536c-3ade-407e-bbb5-916c2a1f217e/7.png News - October 2024 Fund Update - Make it stand out Flutter Entertainment revenue by region. Source: Flutter Entertainment Plc https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/5356450e-4b92-43e8-a4a9-da6fab07368b/8.png News - October 2024 Fund Update - Make it stand out Flutter’s Flywheel. Source: Flutter Entertainment Plc https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/a094a40a-01d3-4790-b57f-bef6d7bfdc5c/9.png News - October 2024 Fund Update - Make it stand out Peter Jackson and Rob Gronkowski on the New York Stock Exchange. Source: Flutter Entertainment Plc https://www.waterhousevc.com/news-archive/september-2024 monthly 0.5 2024-10-20 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/3989ca43-3e3d-49bc-a836-f3f77ce181d7/1.png News - September 2024 Fund Update - Make it stand out Dorothy Paget with her 5x Cheltenham Gold Cup Winner, Golden Miller. She used to famously place her bets the day after the race was run. Source: The Telegraph. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/333f2157-0d92-4950-8309-7ff9e1b05182/2.png News - September 2024 Fund Update - Make it stand out Jonah Hill (Peter Brand) walking Brad Pitt (Billy Bean) through the data in Moneyball. Source: Waydev. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/4447f960-24bb-4724-9805-17eb8054a1e7/3.png News - September 2024 Fund Update - Make it stand out Michael Jordan, a large shareholder of Sportradar with CEO Carsten Koerl: Source: GlobeNewswire. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/ff178693-3641-4463-8b9a-19591dc514db/4.png News - September 2024 Fund Update - Make it stand out Genius Sports graphics being showcased in ESPN coverage. Source: ESPN Basketball. https://www.waterhousevc.com/news-archive/august-2024 monthly 0.5 2025-05-06 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/025be96c-d8e8-40c0-88d4-9e280db61799/Screenshot+2025-05-06+at+22.33.04.png News - August 2024 Fund Update - Make it stand out Bet365’s Denise Coates who was awarded a CBE. Source: LinkedIn https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/13e386ef-6a66-41d8-a7a1-02a95487a89b/signal-2024-07-26-170324_002.png News - August 2024 Fund Update - Make it stand out Bet365’s US Wagering App Downloads. Source: Taylor Collison. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/5e60ec40-cc0d-479f-addb-722e6ca94f96/signal-2024-07-26-170324_004.png News - August 2024 Fund Update - Make it stand out US states where Bet365 operates. Source: Football Ground Guide. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/563ef44e-9960-4c9c-803e-150bf3f2eb7b/signal-2024-07-26-170324_006.png News - August 2024 Fund Update - Make it stand out Stake F1 launch the Kick Sauber C44. Source: Planet F1 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/69ed86d9-8ff3-44e9-bf6a-7339feeebb94/signal-2024-07-26-170324_007.png News - August 2024 Fund Update - Make it stand out Drake (username ‘champagne papi’) shared his betslip ahead of the Copa America game between Canada and Argentina to 145 million followers. Source: Instagram https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/832ec93a-70b8-403e-b369-b58762723266/signal-2024-07-26-170324_008.jpeg News - August 2024 Fund Update - Make it stand out ‘Slots & Casino’ was Kick’s second highest games category in June. Source: Streams Charts. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/7126f665-3e13-433c-93b7-cfd44e7f5e31/news.jpeg News - August 2024 Fund Update - Make it stand out Waterhouse VC’s 5 year journey. Source: Hedge Fund Alert https://www.waterhousevc.com/news-archive/july-2024 monthly 0.5 2024-07-26 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/17c6575e-f80c-4bd9-b547-483025dd51aa/Waterhouse+VC+Performance.png News - July 2024 Fund Update - Make it stand out Waterhouse VC’s performance. Source: Waterhouse VC https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/97892dc7-0dcd-458f-ab7b-8da156a099dc/Saintly+Deal.png News - July 2024 Fund Update - Make it stand out Waterhouse VC’s journey with Saintly. Source: Waterhouse VC https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/df9e9b78-bbd2-44af-992d-02081a53ff04/B2B+Rationale.png News - July 2024 Fund Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/25a34ae4-a43d-4158-9213-08d233b71b74/Screenshot+2024-07-08+at+11.53.14+am.png News - July 2024 Fund Update - Make it stand out Global casino market in 2023. Source: Evolution https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/dd017c1e-779e-45fc-b06c-2c61875bfb6d/Live+Blackjack.jpg News - July 2024 Fund Update - Make it stand out A game of live dealer online blackjack. Source: Livedealer.org https://www.waterhousevc.com/news-archive/june-2024 monthly 0.5 2024-07-10 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/031a383a-4619-460f-b0f5-ff25bd0c353d/Drake+Streaming.jpg News - June 2024 Fund Update - Make it stand out Drake is one of the world’s most popular online casino streamers. Source: Betensured Blog https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/710820b4-84da-4e8f-9d43-af51c4958127/Screenshot+2024-06-19+at+11.26.23+pm.png News - June 2024 Fund Update - Make it stand out Noah Dummett (Founder) and Ishan Haque (Head of Business). Source: Ishan Haque, Muck Rack https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/e814e754-b645-47d7-b7e4-0f587bd7a06e/Shuffle+Monthly+Turnover.jpeg News - June 2024 Fund Update - Make it stand out Shuffle’s monthly turnover has increased 10x in 10 months. Source: Noah Dummett https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/587401f8-e959-42f6-aa88-e49187810c30/Shuffle+Casino.jpeg News - June 2024 Fund Update - Make it stand out Shuffle’s casino user interface. Source: Shuffle.com https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/8d06822c-c78b-4c3e-be9a-1736db40e7a5/Alfa-Romeo-F1-Stake.jpg News - June 2024 Fund Update - Make it stand out Alfa Romeo’s F1 car sporting the Stake.com logo. Source: GambleBoost. https://www.waterhousevc.com/news-archive/may-2024 monthly 0.5 2024-07-10 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/d459d45b-f24f-4bed-bb86-416d6fea81ab/TAB+Flemington.png News - May 2024 Fund Update - Make it stand out Source: Sydney Morning Herald https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/e3fce616-345f-439e-93a1-9ff8f066fec4/Sportsbet%E2%80%99s+online+market+share.png News - May 2024 Fund Update - Make it stand out Sportsbet’s online market share. Source: Australian Financial Review https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/bb701f4a-f50b-499c-b9dd-e64d73e8f9bb/Sportsbet+Advertising.png News - May 2024 Fund Update - Make it stand out Sportsbet’s advertising spend with Google and Facebook over the 5 year period from 2013 to 2018. Source: ABC News. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/ce0189e6-3e04-4ba2-9d8b-ea0c6905283f/Shaq+%3A+Pointsbet.png News - May 2024 Fund Update - Make it stand out Shaq dancing with The Inspired Unemployed for a Pointsbet advertisement. Source: Instagram. https://www.waterhousevc.com/news-archive/april-2024 monthly 0.5 2024-07-23 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/508fcf6f-3d78-4cb6-b678-96bca757b0c8/A+selection+of+VGW%E2%80%99s+games.png News - April 2024 Fund Update - Make it stand out A selection of VGW’s games. Source: Channel News https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/78a5a106-65dd-4878-b48a-778df3db2ba6/One+of+Laurence+Escalante%E2%80%99s+possessions%2C+a+Lamborghini+Countach.png News - April 2024 Fund Update - Make it stand out One of Laurence Escalante’s possessions, a Lamborghini Countach. Source: Instagram https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/f3527f43-df0c-4348-9e59-7550fc760e17/Social+Casino+Growth.png News - April 2024 Fund Update - Make it stand out Global revenue for social casinos. Source: Australian Communications and Media Authority https://www.waterhousevc.com/news-archive/how-did-leading-igaming-companies-get-their-first-customers monthly 0.5 2024-07-23 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/663068dc-257a-4d69-95f5-6c429f17bec6/Circle+Squared.png News - How Did Leading iGaming Companies Get Their First Customers? - Make it stand out Industry connections allowed Circle Squared to sign strategic partnerships. Image: Circle Squared https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/04700747-8846-4524-b08e-f8f85ad7ea51/flashpicks.png News - How Did Leading iGaming Companies Get Their First Customers? - Make it stand out Checkd Group used influencers to seed the audience for their brand FlashPicks. Image: X.com https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/72b2e231-b16f-4ab4-96a1-af05cd33ee15/Low6+partnership.png News - How Did Leading iGaming Companies Get Their First Customers? - Make it stand out Low6 put their strategic partners front and centre to build awareness. Image: iGamingBusiness https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/d45c1c5a-ed21-4d6b-b5a8-6632a30832f7/Shuffle.png News - How Did Leading iGaming Companies Get Their First Customers? - Make it stand out Shuffle founder engaging with the crypto gambling community on popular forum Bitcoin Talk. Image: bitcointalk.org https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/41d2bb14-3687-41db-acf0-9c600d20a3e4/ReSpin.png News - How Did Leading iGaming Companies Get Their First Customers? - Make it stand out One example of the loyalty program from the ReSpin casino. Image: ReSpin https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/319429e9-b2f7-40ac-b849-60382d6567f6/Simplebet.png News - How Did Leading iGaming Companies Get Their First Customers? - Make it stand out The micro-betting business is uniquely suited to the US market. Image: Gambling Insider https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/b7d9ace6-42ff-413e-affa-5a94fc93f00c/FBastards+PR.png News - How Did Leading iGaming Companies Get Their First Customers? - Make it stand out At the ICE London 2024 conference, FBastards did a ‘Partners Lotto’ promotion where customers could win prizes. Image: FBastards https://www.waterhousevc.com/news-archive/march-2024 monthly 0.5 2024-07-23 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/936ace67-b599-42dc-8504-139a7fa5a36c/Sportsbet.io.png News - March 2024 Fund Update - Make it stand out Southampton FC sporting the Sportsbet.io logo. Source: Sportsbet.io https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/b1d4a85b-c1bd-44f1-9bb5-7313e99961d3/Flutter+Brands.png News - March 2024 Fund Update - Make it stand out Flutter’s global brands. Source: Flutter Entertainment Plc https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/f202b2dc-0875-4ee5-95aa-eed396c98ddc/Flutter+Flywheel.png News - March 2024 Fund Update - Make it stand out Flutter’s flywheel. Source: Flutter Entertainment Plc https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/22dd4fe7-57bd-4df0-96c1-106403737285/maxresdefault.jpg News - March 2024 Fund Update - Make it stand out Peter Jackson ringing the opening bell on the New York Stock Exchange. Source: Youtube https://www.waterhousevc.com/news-archive/february-2024 monthly 0.5 2024-07-23 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/d0760e5b-9bc3-46b8-9ca6-1d09b652bc2e/Coin-Flipping+Experiment.png News - February 2024 Fund Update - Make it stand out Coin-flipping experiment results. Source: Rational Decision Making under Uncertainty: Observed Betting Patterns on a Biased Coin (Victor Haghani and Richard Dewey) https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/ab15b7ee-6825-48da-b51c-6518b3cbfba0/1%2C000-bet%2Bsimulation%2B.png News - February 2024 Fund Update - Make it stand out A 1,000-bet simulation of a bet that has a 51% probability of winning. Source: Junto. https://www.waterhousevc.com/news-archive/january-2024 monthly 0.5 2024-07-23 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/136e3241-98dc-42b9-923d-2e8ee4c06574/Performance+Table+2.56.52+pm.png News - January 2024 Fund Update - Make it stand out Waterhouse VC’s gross performance, as at 31 December 2023. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/216a7756-26e6-41eb-8bb6-60a3b1860da7/Performance+Asset+Classes.png News - January 2024 Fund Update - Make it stand out Performance of various asset classes and sectors in 2023. Source: Topdown Charts, Refinitiv Datastream https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/b68867ee-64b7-47d1-a4d1-22a3e8d365ae/Saintly+Timeline.png News - January 2024 Fund Update - Make it stand out Timeline of Waterhouse VC’s involvement with Saintly https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/3cf58c09-826a-4d43-b489-6eff8480a477/Brazil+Market.png News - January 2024 Fund Update - Make it stand out Brazil online wagering market statistics. Source: Citizens Capital Markets Research https://www.waterhousevc.com/news-archive/december-2023 monthly 0.5 2024-07-23 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/d95580b0-ab10-499e-a312-01fd95f71384/Screenshot+2023-12-17+at+9.44.06+am.png News - December 2023 Fund Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/83e5eb4c-a495-420a-abdf-6fbf64f3f2b1/Screenshot+2023-12-17+at+9.44.18+am.png News - December 2023 Fund Update - Make it stand out Flutter’s flywheel. Source: Flutter Entertainment Plc https://www.waterhousevc.com/news-archive/november-2023 monthly 0.5 2024-07-23 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/3a470c9a-5c0a-4da4-8d6e-79c9343548df/Screenshot+2023-11-15+at+4.20.44+pm.png News - November 2023 Fund Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/039d795c-9fe7-4c11-99c4-acbe6637881c/Annotated+Laffer+Curce.jpg News - November 2023 Fund Update - Make it stand out The Laffer Curve (annotated by Waterhouse VC). In some regulated betting markets, it could be argued that we are past the point of maximum tax revenue and are now impacting tax revenue because the direction of taxation policy has been set. Source: Investopedia https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/68dcbf53-205d-4e3c-a64e-200587749dfc/US+Illegal+Gambling+Taxes+Lost+%281%29.png News - November 2023 Fund Update - Make it stand out Government gaming taxes generated in 2021 and taxes lost to illegal and unregulated betting. Source: AGA. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/7d61526d-d343-47fc-aacd-6c90e5438746/US+Illegal+Gambling+Taxes+Lost+%282%29.png News - November 2023 Fund Update - Make it stand out Annual US gaming revenue across legal and illegal betting. Source: AGA. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/3f1a7928-cc3c-40ec-8d91-d0bc9c920e42/Screenshot+2023-11-12+at+3.56.50+pm.png News - November 2023 Fund Update - Make it stand out Online sports betting market share split amongst the top 5 operators in highly regulated betting markets. Source: iGaming Business. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/5885af3c-488e-4927-bd35-0c044d6aded3/Screenshot+2023-11-15+at+1.09.32+am.png News - November 2023 Fund Update - Make it stand out Waterfall from revenue down to net profit after tax for a typical large-scale Australian wagering operator. https://www.waterhousevc.com/news-archive/october-2023 monthly 0.5 2023-11-15 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/3c03ac05-6af9-4de7-8b5e-c5a0468a028d/image+%2819%29.png News - October 2023 Fund Update - Make it stand out Flutter’s flywheel. Source: Flutter Entertainment Plc https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/7dd3703a-ff7c-4ff3-943f-c0d6fc62e86b/image+%2820%29.png News - October 2023 Fund Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/0d385b11-b41f-4617-b616-78c1b975a229/image+%2818%29.png News - October 2023 Fund Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.waterhousevc.com/news-archive/september-2023 monthly 0.5 2023-10-25 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/3ee934ce-7321-4873-89a8-688134d74f08/Brazil%E2%80%99s+historic+and+forecast+wagering+revenue+across+online+casino%2C+online+lottery+and+online+sports+betting..png News - September 2023 Fund Update - Make it stand out Brazil’s historic and forecast wagering revenue across online casino, online lottery and online sports betting. Source: Statista https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/7458d105-0e01-4d81-95de-977b768ed92b/Caxias+Do+Sul+is+sponsored+by+KTO.png News - September 2023 Fund Update - Make it stand out Caxias Do Sul is sponsored by KTO. Source: KTO Group https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/6d224c4c-182d-4d37-9c00-5c809ab4704f/Tche+Tche+of+Botafogo+%28sponsored+by+Blaze%2C+one+of+Brazil%E2%80%99s+largest+betting+companies%29+competes+for+the+ball+with+Alan+Patrick+of+Internacional.png News - September 2023 Fund Update - Make it stand out Tche Tche of Botafogo (sponsored by Blaze, one of Brazil’s largest betting companies) competes for the ball with Alan Patrick of Internacional. Source: Wagner Meier/Getty Images https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/0c2e0084-a5be-4e59-8a28-163a4bd7a1d8/Luis+Fabiano%2C+an+ambassador+of+BetPix365.png News - September 2023 Fund Update - Make it stand out Luis Fabiano, an ambassador of BetPix365. Source: iGaming Brazil https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/c3e0b743-f1de-48bb-b86a-15a36da6ea3a/Felipe+Neto.png News - September 2023 Fund Update - Make it stand out Felipe Neto. Source: United Nations https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/b17aa677-0997-408f-b943-c716dd98b0f3/One+of+Felipe+Neto%E2%80%99s+Instagram+posts+promoting+Blaze.png News - September 2023 Fund Update - Make it stand out One of Felipe Neto’s Instagram posts promoting Blaze. Source: Instagram https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/928a9484-4cac-4411-9b96-68479716a007/Sportsbet.io+Brazil+Traffic.png News - September 2023 Fund Update - Make it stand out Stake, Sportsbet.io and BC.Game all count Brazil as a top 5 driver of website traffic, with Sportsbet.io attracting 60% of its global visitors from Brazil in August. Source: Similarweb https://www.waterhousevc.com/news-archive/august-2023 monthly 0.5 2023-09-26 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/ce37ef3c-1c17-4dd5-8523-2885a42bea3c/Streaming+Platform+Market+Share.png News - August 2023 Fund Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/b9d98ec5-2560-4f4a-8cf7-212a18f077e1/Twitch+2022+Statistics.png News - August 2023 Fund Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/927dc9c6-3be2-4fc5-a12b-675e9c9afc4c/Browsing+on+Kick.png News - August 2023 Fund Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/2b1d5251-4849-4d4e-af68-501ffd3e71eb/Kick%27s+User+Navigation+Sections.png News - August 2023 Fund Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.waterhousevc.com/news-archive/july-2023 monthly 0.5 2023-08-23 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/2ef0108b-9862-4481-aeb6-337504454630/OddsChecker.png News - July 2023 Fund Update - Make it stand out Comparing odds for the 4th Ashes test. Source: Oddschecker https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/9365f90d-b051-4b2e-b23b-86e23d75360a/Marketing+Spend.png News - July 2023 Fund Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/8f04522e-2a11-4c1f-8aa6-4a8c988a286d/The+Action+Network.png News - July 2023 Fund Update - Make it stand out Comparing odds for Major League Baseball. Source: The Action Network https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/a65e6c58-edb6-4d85-aa07-bf7a16baa625/Betscanner.png News - July 2023 Fund Update - Make it stand out Mock-up user interface for a crypto operator comparison website. Source: Betscanner https://www.waterhousevc.com/news-archive/june-2023 monthly 0.5 2023-07-26 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/9d6fce20-66a8-40f0-af24-5645f128c1ea/Return+relative+to+bet%3Ainvestment+size.png News - June 2023 Fund Update - Make it stand out Kelly’s equation. Source: Investopedia. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/7c3af1be-2d6c-4671-baf0-a5f86216856d/Kelly%E2%80%99s+equation.png News - June 2023 Fund Update - Make it stand out Return relative to bet/investment size and the Kelly percentage. Source: Junto. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/3cf0421c-cd90-4988-97a5-af1ccf05fb77/1%2C000-bet+simulation+.png News - June 2023 Fund Update - Make it stand out A 1,000-bet simulation of a 51% probability bet. Source: Junto. https://www.waterhousevc.com/news-archive/may-2023 monthly 0.5 2023-06-21 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/fe168d88-3049-402a-a408-1eb975afe7a9/Alfa-Romeo-F1-Stake.jpg News - May 2023 Fund Update - Make it stand out Alfa Romeo’s F1 car sporting the Stake.com logo. Source: GambleBoost. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/4b14ef53-a038-4696-9ca1-aa7dbd33bc55/image___media_library_original_1200_598.jpg News - May 2023 Fund Update - Make it stand out Stake’s user interface. Source: Cryptonews https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/6b82ce3a-f4f2-4b4d-9642-95b9fd3120cb/Trustpilot.png News - May 2023 Fund Update - Make it stand out Trustpilot scores for a selection of fiat and crypto operators. Source: Trustpilot https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/a71771ba-b5e8-4789-8431-63118ac9820b/Sanco.png News - May 2023 Fund Update - Make it stand out Sanco’s modular wagering platform. Source: Sanco Technology. https://www.waterhousevc.com/news-archive/april-2023 monthly 0.5 2024-10-27 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/7da76aba-823d-4914-a8ee-c056eaf01fd1/mona-pharos-azure-magazine-06.jpeg News - April 2023 Fund Update - Make it stand out The Pharos wing at Australia’s Mona museum. Source: Azure https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/15f58e78-6967-496b-9fb2-ade11480be5a/Model+of+a+Dice+Roll.png News - April 2023 Fund Update - Make it stand out Model of a dice roll with a 5% advantage (yellow lines are 2 standard deviations). https://www.waterhousevc.com/news-archive/march-2023 monthly 0.5 2023-05-30 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/374e5966-6117-4a76-b6a4-b3d05a8e74f5/Population+Metrics.png News - March 2023 Fund Update - Make it stand out Source: The World Bank, United Nations Department of Economic and Social Affairs https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/89049f77-280f-4ea9-a64b-3e9622ac6b7b/get_app_banner_2022_new.jpg News - March 2023 Fund Update - Make it stand out Inside the Dream11 app. Source: Dream11 https://www.waterhousevc.com/news-archive/february-2023 monthly 0.5 2024-03-15 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/59f5d785-0ee3-48eb-8f26-dca360b37924/signal-2023-02-21-223653_002.png News - February 2023 Fund Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.waterhousevc.com/news-archive/january-2023 monthly 0.5 2023-05-30 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/4b781104-baac-47fb-8e89-287f1501b7ce/Picture+1.png News - January 2023 Fund Update - Make it stand out Global crypto wagering data for total bets and GGR. Source: Softswiss. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/d07658d1-8bcb-4197-9677-75cea020ecca/signal-2023-01-23-001612_003.jpeg News - January 2023 Fund Update - Make it stand out A selection of white label sportsbook and iGaming platforms built for fiat operators. Source: Waterhouse VC. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/85e6f0a7-907a-4370-8b54-fde5293beee5/signal-2023-01-23-001612_002.png News - January 2023 Fund Update - Make it stand out Key points of difference for the next generation of wagering platforms. Source: Waterhouse VC. https://www.waterhousevc.com/news-archive/december-2022 monthly 0.5 2024-02-15 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/84210eec-9a0c-47c8-8324-ab51eff57bcf/article-gambling-history-hero.jpeg News - December 2022 Fund Update - Make it stand out Source: Pinnacle https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/b4e59b9e-c608-4d92-861a-65957b38253d/Tom+Dry.png News - December 2022 Fund Update - Make it stand out Tom Dry. Source: European Gaming. https://www.waterhousevc.com/news-archive/november-2022-fund-update monthly 0.5 2023-05-30 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/4762af89-7aa3-4d45-95d9-85098f198357/Table+of+Operators.png News - November 2022 Fund Update - Make it stand out 1 Year Performance of Operators with Exposure to US Online Wagering. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/f7cccbbd-77d1-4fd0-a9f4-2d39dae439ad/FanDuel%E2%80%99s+App+Download+Market+Share.png News - November 2022 Fund Update - Make it stand out FanDuel’s App Download Market Share. Source: Taylor Collison. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/21159200-d442-47a6-99c6-6eb2c0d261ba/FanDuel%E2%80%99s+Year+to+Date+Gross+Gaming+Revenue+by+State.png News - November 2022 Fund Update - Make it stand out FanDuel’s Year to Date Gross Gaming Revenue by State. Source: Flutter Entertainment Plc https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/6207dfa6-102d-488c-9ac8-b37d37e6dc88/FanDuel+Cost+of+Sales+as+%25+of+NGR.png News - November 2022 Fund Update - Make it stand out FanDuel’s Cost of Sales as a % of NGR. Source: Flutter Entertainment Plc https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1eacf1e3-356f-4e83-8b4a-569cca1a81b5/Total+iGaming+Revenue+in+North+America.png News - November 2022 Fund Update - Make it stand out Total iGaming Revenue in North America. Source: Taylor Collison https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/91ad4521-3548-4119-aa4a-e6e400ffa82d/FanDuel%E2%80%99s+target+long-term+key+operating+metrics..png News - November 2022 Fund Update - Make it stand out FanDuel’s target long-term key operating metrics. Source: Flutter Entertainment Plc https://www.waterhousevc.com/news-archive/october-2022-fund-update monthly 0.5 2023-05-30 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/2d312ef4-14bf-4342-b0f0-5ae44136a63d/ee01c372-c5f0-4841-bb1c-c16e7180fb16.png News - October 2022 Fund Update - Make it stand out ‘Bet With Mates’ - Sportsbet’s approach to social betting. Source: Flutter Entertainment Plc https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/4551f7fe-e2d3-430d-954b-45dc56672fb8/9785149d-e462-4b3f-8197-fb5388335af4.png News - October 2022 Fund Update - Make it stand out Australian Wagering App Downloads by Category. Source: Taylor Collison. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/6e65a67b-cec4-4aa3-9973-b64e5508fa54/89129c1e-5193-4f7b-9ec2-a85b13e18504.png News - October 2022 Fund Update - Make it stand out ‘Other’ Australian Wagering App Downloads by Operator. Source: Taylor Collison https://www.waterhousevc.com/news-archive/september-2022-fund-update monthly 0.5 2023-05-30 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1a961493-09f8-4ff4-a439-55ccd49a5000/Flutter+2021.jpg News - September 2022 Fund Update - Make it stand out Flutter’s 2021 online market share in Australia and the UK & Ireland. Source: Flutter Entertainment Plc. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/61618b22-b2bd-4ed5-9c10-711f3795d8a7/Flutter+and+DraftKings.jpg News - September 2022 Fund Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/20d7737c-3e4d-406e-afbf-3a8b5b17bd43/Marketing+spend+per+industry.jpg News - September 2022 Fund Update - Make it stand out Marketing spend as a percentage of company revenues across industries. Source: CMO Study 0031. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/09ec2a42-6fa3-4a3f-97d3-c7a2b95303be/Madison+Payne.jpg News - September 2022 Fund Update - Make it stand out Madison Payne promoted Pepsi to her audience of 215,000 people. Source: Instagram. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/5566f57a-1509-4282-9d20-782652eac356/Shaq.jpg News - September 2022 Fund Update - Make it stand out Shaq dancing with The Inspired Unemployed. Source: Instagram. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/026de3f1-e8d0-40e5-8fb8-3e431ed48008/Portnoys+betslip.jpg News - September 2022 Fund Update - Make it stand out Dave Portnoy tweeted his betslip to his 2.7 million followers and showed them how they can copy his bet through an easy link. Source: Twitter. https://www.waterhousevc.com/news-archive/august-2022-fund-update monthly 0.5 2023-05-30 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/f02fe1f3-37fa-4c04-849b-ab364dcd3cec/Screen+Shot+2022-08-17+at+1.49.53+am.png News - August 2022 Fund Update Number of active video gamers worldwide (billions). Source: Statista. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/697eaeeb-34f0-42df-b052-a86bf22fa811/Screen+Shot+2022-08-17+at+1.15.54+am.png News - August 2022 Fund Update - Make it stand out Grand Theft Auto V Quarterly Revenues. Source: TweakTown https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/6d144257-a942-4a4c-a4fb-d073df2db3a3/Screen+Shot+2022-08-17+at+1.17.25+am.png News - August 2022 Fund Update - Make it stand out Electronic Arts’ ‘Live Services and Other’ segment has grown at a revenue CAGR of 11.7% and now represents 71% of the company’s total revenue. Source: Electronic Arts. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/86a5a7ed-9720-4e4d-b527-3cac397f2c44/Screen+Shot+2022-08-17+at+1.19.20+am.png News - August 2022 Fund Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/b2993995-0db2-4905-84f1-eaea195edaba/Screen+Shot+2022-08-17+at+1.22.46+am.png News - August 2022 Fund Update - Make it stand out An Overwatch Anniversary Loot Box. Source: Activision Blizzard. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/34de36b2-6f55-41d3-b5a9-b098ca3010b6/Screen+Shot+2022-08-17+at+1.28.25+am.png News - August 2022 Fund Update - Make it stand out Source: Sentieo. LTM Adjusted EBITDA figures used as of 30 June 2022. https://www.waterhousevc.com/news-archive/july-2022-fund-update monthly 0.5 2023-05-30 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/32de5451-5592-48b4-873c-751a23b43964/Picture+1.png News - July 2022 Fund Update - Make it stand out Affiliate model for wagering and gaming. Source: Slotegrator https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/e054d4c5-c7f4-4b37-99ff-d83df39f06ef/Picture+2.png News - July 2022 Fund Update - Make it stand out Better Collective’s focus on the US growth opportunity. Source: Better Collective. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/5fe392bd-d577-4662-8e61-1cb57f2a02b8/Picture+3.png News - July 2022 Fund Update - Make it stand out For US$19.99 per month, Action Pro subscribers can use many betting features. Source: The Action Network. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/bd5d3caa-005b-4e0d-acec-88d7fb8a1808/Screen+Shot+2022-08-09+at+1.12.30+pm.png News - July 2022 Fund Update - Make it stand out Source: Sentieo. LTM Adjusted EBITDA figures used as of 31 March 2022. https://www.waterhousevc.com/news-archive/june-2022-fund-update monthly 0.5 2023-05-30 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/a2a9456c-ff12-465a-aa51-80518c30b65d/live-casino-holdem-en.jpeg News - June 2022 Fund Update - Make it stand out Poker inside one of Evolution’s live casinos. Source: Live Casino 24. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/64b500e3-ae27-4d58-805e-f8223f5dec90/Screen+Shot+2022-06-10+at+10.41.14+pm.png News - June 2022 Fund Update - Make it stand out Evolution’s revenue model. Source: Evolution. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/f857d166-f5f1-44e4-9eed-fa5cd3589002/Screen+Shot+2022-06-22+at+10.49.50+am.png News - June 2022 Fund Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/6cfc216f-a7b6-484d-81a3-7d7354692d3c/Screen+Shot+2022-06-10+at+10.22.53+pm.png News - June 2022 Fund Update - Make it stand out Evolution’s revenue, EBITDA and EBITDA margin. Source: Evolution. https://www.waterhousevc.com/news-archive/may-2022-fund-update monthly 0.5 2023-05-30 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/20f6c23e-f5a0-4e96-aa2f-7401a7a64f73/Pic-1.png News - May 2022 Fund Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/4fc0c015-da2a-471b-ae20-6728a72f1fae/Pic-2.png News - May 2022 Fund Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/b67d5e32-14d0-401a-8ddc-c5a54ba5bc89/Screen+Shot+2022-05-25+at+6.47.58+pm.png News - May 2022 Fund Update - Make it stand out Southampton FC sporting the Sportsbet.io logo. Source: Sportsbet.io https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/874e4826-6aa9-49cc-a30e-8b4ea73167bb/Screen+Shot+2022-05-15+at+6.07.01+pm.png News - May 2022 Fund Update - Make it stand out Nexelon’s ‘Merge Racing’ with in-play billboard ads adjacent to the racetrack. Source: Admix https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/db62afb8-af4e-4a19-9e68-59f8a77ea4fe/all_advertisers.png News - May 2022 Fund Update - Make it stand out Admix’s all-star clients. Source: Sam Huber https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/aa443a8a-388b-4875-ab03-85d6002fb574/1-1536x774.jpeg News - May 2022 Fund Update - Make it stand out Inside the Metaverse Fashion Week. Source: Admix https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/0b383043-8c91-4bed-8471-58148efd639c/Screen+Shot+2022-05-25+at+6.50.37+pm.png News - May 2022 Fund Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.waterhousevc.com/news-archive/april-2022-fund-update monthly 0.5 2023-05-30 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/5ef62019-6236-42a2-b040-4d6becd134d0/unnamed.png News - April 2022 Fund Update - Make it stand out The oldest known full deck of playing cards, circa 1470-1480. Source: The Metropolitan Museum of Art https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/5bff5cec-6181-4516-9773-37c02ac41583/unnamed+%281%29.png News - April 2022 Fund Update - Make it stand out 888’s 2021 revenue mix by geography and product. Source: 888 Holdings Annual Report and Accounts 2021 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/0ac3826a-e71a-4c19-955e-0c453c826065/unnamed+%282%29.png News - April 2022 Fund Update - Make it stand out 888 and WHI - a powerful combination. Source: 888 Holdings Acquisition of William Hill International https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/3eecd60c-f4b4-41ef-9045-76c722df0561/unnamed+%283%29.png News - April 2022 Fund Update - Make it stand out 888 and WHI’s established and enhanced combined presence in attractive and growing online markets. Source: 888 Holdings Equity Placing https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/48a14db7-9dc3-442d-8bee-d5e24b3157ba/unnamed+%284%29.png News - April 2022 Fund Update - Make it stand out 888 and WHI’s complementary geographic and product profiles. Source: 888 Holdings Equity Placing https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/34a97ac8-cc06-46c9-82b6-58fff87d5090/unnamed+%285%29.png News - April 2022 Fund Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/0decd7a8-0422-4786-ae75-d4678760e45c/unnamed+%286%29.png News - April 2022 Fund Update - Make it stand out 2020 revenue and EBITDA bridge from 888 to the combined 888 and WHI. Source: 888 Holdings Acquisition of William Hill International https://www.waterhousevc.com/news-archive/march-2022-fund-update monthly 0.5 2023-05-30 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/f39bfdc6-7962-4be1-aed0-8343ad7536b5/Capture.PNG News - March 2022 Fund Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/922cc6c8-8be7-4065-bde2-22f2392c81ee/unnamed.png News - March 2022 Fund Update - Make it stand out Oddin’s experienced team. Source: Oddin https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/3ee677ec-8fbd-460f-b3f3-54d254fae318/unnamed+%281%29.png News - March 2022 Fund Update - Make it stand out Titles supported by Oddin. Source: Oddin https://www.waterhousevc.com/news-archive/selling-the-shovels-for-the-us-gold-rush monthly 0.5 2022-03-10 https://www.waterhousevc.com/news-archive/tom-waterhouse-pivots-booming-vc-fund-to-us-sports-betting monthly 0.5 2022-03-13 https://www.waterhousevc.com/news-archive/february-2022-fund-update monthly 0.5 2023-05-30 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/29f8630a-427d-471a-a6da-729532e9e9e1/Screen+Shot+2022-02-19+at+1.15.30+pm.png News - February 2022 Fund Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.waterhousevc.com/news-archive/january-2022-fund-update monthly 0.5 2023-05-30 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/d2a20770-c9ef-4b9c-b91f-d25fedfbbdff/unnamed.png News - January 2022 Fund Update Natural language search is front and centre for the most popular products in the world. Source: Voxbet https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/23bbca72-dc77-41b7-96ef-654b9be834c0/unnamed-2.png News - January 2022 Fund Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/570f1e0d-97f1-4ade-beba-b726fb2100f6/unnamed-3.png News - January 2022 Fund Update - Make it stand out Source: Voxbet https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/892fed28-a942-4f5e-8732-08b71a883931/unnamed-4.png News - January 2022 Fund Update - Make it stand out A mockup of building a betslip on social media. Source: Voxbet https://www.waterhousevc.com/news-archive/december-2021-fund-update monthly 0.5 2022-01-27 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/869b4a6b-794f-4684-bb21-880d99fc6a2e/BetConnect%E2%80%99s+Experienced+Leadership+Team.png News - December 2021 Fund Update BetConnect’s Experienced Leadership Team. Source: BetConnect https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/31f59248-dc7e-4e57-a3de-027e9fb30eae/BetConnect%E2%80%99s+Key+Performance+Indicators.png News - December 2021 Fund Update - Make it stand out BetConnect’s Key Performance Indicators. Source: BetConnect https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/07917775-0e11-4b49-a518-0423c706b2ef/BetConnect%E2%80%99s+Bet+Side+of+the+Exchange.png News - December 2021 Fund Update - Make it stand out BetConnect’s Bet Side of the Exchange. Source: BetConnect https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/02395b86-7741-459d-83f1-4b4afaaea536/BetConnect%E2%80%99s+Lay+Side+of+the+Exchange.png News - December 2021 Fund Update - Make it stand out BetConnect’s Lay Side of the Exchange. Source: BetConnect https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1fbb2fc5-6efa-479c-90b2-9abcd94fa592/Performance+Table.png News - December 2021 Fund Update Waterhouse VC Fund gross performance as at 30 November 2021 https://www.waterhousevc.com/news-archive/november-2021-fund-update monthly 0.5 2021-12-07 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/c49a1247-4f54-41ed-bec9-2324a1979610/Aristocrat%27s+long-term+growth.png News - November 2021 Fund Update Interconnected gaming network attracting the industry's leading content creators to deliver a platform for Aristocrat’s long-term growth. Source: 18 October 2021 Investor Presentation https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/86d38ec7-23ab-4c21-9c74-db95f2b5312b/Playtech%E2%80%99s+FY20+revenue+and+EBITDA+by+business.png News - November 2021 Fund Update - Make it stand out Playtech’s FY20 revenue and EBITDA by business. Source: 18 October 2021 Investor Presentation https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/739224b1-cd65-4ff1-a41d-18227a3c43ce/Snaitech%27s+wagering+system.png News - November 2021 Fund Update - Make it stand out Snaitech’s wagering system is a proprietary platform with a focused set of integrated products and solutions. Source: 18 October 2021 Investor Presentation https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/5fb468ea-9756-4937-8336-2c7c9f7bd9cd/The+effective+multiple+paid+for+Playtech%27s+B2B+business.png News - November 2021 Fund Update - Make it stand out The effective multiple paid for Playtech's B2B business https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/bcca81d1-e33d-41b8-9f93-f155057c664f/Playtech%E2%80%99s+regulated+revenue.png News - November 2021 Fund Update - Make it stand out Playtech’s regulated revenue as a proportion of total revenue. Source: 18 October 2021 Investor Presentation https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/a9964297-283b-47a3-83bf-dcc881bde8cb/Aristocrat%E2%80%99s+consistent+history+of+deleveraging+following+acquisitions.png News - November 2021 Fund Update - Make it stand out Aristocrat’s consistent history of deleveraging following acquisitions. Source: 18 October 2021 Investor Presentation https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1634078596935-28NJ3700FT2NCHCDG34S/Performance+Table.png News - November 2021 Fund Update Waterhouse VC Fund gross performance as at 30 September 2021 https://www.waterhousevc.com/news-archive/p1sua9u431zy4wezbyvauv0ev38f74 monthly 0.5 2021-10-14 https://www.waterhousevc.com/news-archive/october-2021-fund-update monthly 0.5 2021-11-09 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1634019933268-BJWA2I98JGV1C0L6VCND/Dave+Portnoy%E2%80%99s+live+streamed+stock+trading.jpg News - October 2021 Fund Update Dave Portnoy’s live streamed stock trading, one of many marketing stunts that have gone viral. Source: Twitter https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1634019972433-3F5OM0DHZ8MFQWC8N6SN/Barstool+Sportsbook+in+Detroit%E2%80%99s+Greektown+Casino+Hotel.jpg News - October 2021 Fund Update - Make it stand out Penn’s recently opened Barstool Sportsbook in Detroit’s Greektown Casino Hotel https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1634078182136-VPVRM5HC1ZIJ08W3CICW/Penn+National+Acquisition+of+theScore.png News - October 2021 Fund Update - Make it stand out Penn National Acquisition of theScore Investor Presentation https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1634078368669-ASO9HCTHQWAVTUQNYP44/Penn+National+Second+Quarter+2021+Investor+Presentation.png News - October 2021 Fund Update - Make it stand out Source: Penn National Second Quarter 2021 Investor Presentation https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1634078596935-28NJ3700FT2NCHCDG34S/Performance+Table.png News - October 2021 Fund Update Waterhouse VC Fund gross performance as at 30 September 2021 https://www.waterhousevc.com/news-archive/tom-waterhouse-investment-fund-portfolio-to-play-significant-role-in-the-us-ecosystem monthly 0.5 2021-10-12 https://www.waterhousevc.com/news-archive/september-2021-fund-update monthly 0.5 2021-10-12 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1631597795330-0XOXI0UTZLONRRACBASS/FanDuel%E2%80%99s+market+share+in+key+early+states.png News - September 2021 Fund Update Source: Flutter Entertainment’s Interim Results 2021 Presentation https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1631597880783-8F88T9QCV9EI5OQT8GKP/FanDuel+also+has+market-leading+brand+awareness.jpg News - September 2021 Fund Update - Make it stand out Source: Flutter Entertainment’s Interim Results 2021 Presentation https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1631597963990-TOJC5L4ZLHMKSB1PRVXY/FanDuel+and+DraftKings+ratio+of+revenue+to+marketing+costs.png News - September 2021 Fund Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1631598014291-8RW6WYSTXU2HH86QWF1Y/Sportsbet%E2%80%99s+2-year+key+operating+metrics.png News - September 2021 Fund Update - Make it stand out Source: Flutter Entertainment’s Interim Results 2021 Presentation https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1631598124352-N40TWA1RUI0I1JMWXK1N/Flutter+valuation+ex-Fanduel.png News - September 2021 Fund Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1631598207870-YUWFHMG2WL80ZOEHR8YG/Performance+table.png News - September 2021 Fund Update Waterhouse VC Fund gross performance as at 31 August 2021 https://www.waterhousevc.com/news-archive/opportunity-in-global-racing-data-and-budding-us-wagering-market monthly 0.5 2021-12-07 https://www.waterhousevc.com/news-archive/tom-waterhouse-hits-the-jackpot-with-punt-on-gambling-shares-the-australian monthly 0.5 2021-12-07 https://www.waterhousevc.com/news-archive/august-2021-fund-update monthly 0.5 2021-10-12 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1629203521130-BWQ73N1IXW8BDR9KAH58/The+Seven+Layers+of+the+Metaverse.png News - August 2021 Fund Update https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1629203703634-72KJV0HKY3AP7HQBX35V/GTA+5+Quarterly+Revenue.jpg News - August 2021 Fund Update - Make it stand out GTA 5 Quarterly Revenue. Source: Take-Two Interactive. LHS = Revenue (US$ millions) https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1629203761122-AUX89K06N8UODLRAI925/Tominoya+Casino.png News - August 2021 Fund Update - Make it stand out A Scene inside Decentraland’s Tominoya Casino (Source: Decentral Games) https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1629203982731-CGG6RSBJKVVVYGS6YKJL/Performance.png News - August 2021 Fund Update Gambling Fund gross performance as at 31 July 2021 https://www.waterhousevc.com/news-archive/july-2021-fund-update monthly 0.5 2021-10-12 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1626817983467-T9PBLCHZ04RLYOSNT2VH/Performance+by+quarter+in+FY21.png News - July 2021 Fund Update Waterhouse VC Fund FY2021 Performance by Quarter https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1626820504759-5675KSYDUVWUZUDFOGYN/Performance+table.png News - July 2021 Fund Update Gambling Fund gross performance as at 30 June 2021 https://www.waterhousevc.com/news-archive/what-tom-bet-on-next monthly 0.5 2021-09-08 https://www.waterhousevc.com/news-archive/june-2021-fund-update monthly 0.5 2021-09-08 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1623794802089-APNT55D18JJR9FW4U1CF/Cyberpunk+PS4 News - June 2021 Fund Update Disappointing Cyberpunk 2077 player experience. Image: pcmag https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1623794859543-P3HAC9SHD1LMBMI3S2AY/TTWO+Net+Bookings.png News - June 2021 Fund Update Take-Two’s net bookings progression. Image: March 2021 Investor Presentation https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1623798467639-9N5VBG6VFGPJSJM8Q03M/Company+Headcount+Comparison.jpeg News - June 2021 Fund Update https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1623794958824-UPGOKKYFV4C86LWKE8EJ/NBA+2K.png News - June 2021 Fund Update The NBA 2K Series. Image: March 2021 Investor Presentation https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1623795011882-PD59B67YQXRC1S0UQ6KW/Adjusted+Cash+Flow.png News - June 2021 Fund Update - Make it stand out Take-Two’s operating cash flow profile. Image: March 2021 Investor Presentation https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1623798493155-VTHHDE3EJU6KYU3WPGVA/Valuation+Table.jpeg News - June 2021 Fund Update - Make it stand out Take-Two and Ubisoft valuation compared to listed peers (as at 11 June, 2021) https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1623795601966-GJVOXAZUEO12444E17HS/Performance+Table.png News - June 2021 Fund Update Gambling Fund gross performance as at 31 May 2021 https://www.waterhousevc.com/news-archive/may-2021-fund-update monthly 0.5 2021-06-29 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1620724460305-FGDQ1IN5WIR2D4KVS22V/XLMedia%E2%80%99s+FY20+target+verticals+mix+by+revenue.png News - May 2021 Fund Update XLMedia’s FY20 target verticals mix by revenue. Image: XLMedia 2020 Full Year Results https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1620721056410-35CLZFBLQ06Z87V4VUJI/XLMedia%E2%80%99s+FY20+revenue+and+conversion+mix.png News - May 2021 Fund Update XLMedia’s FY20 revenue and conversion mix. Image: XLMedia 2020 Full Year Results https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1620724932401-KACWVDIFTD8ZUWHUFLE0/XLMedia+Rev+by+Geography.png News - May 2021 Fund Update XLMedia revenue by geography. Source: XLMedia 2020 Full Year Results https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1620724918686-KMFTJL7LSDVPY6SKCESX/XLMedia+vs+Comps.png News - May 2021 Fund Update XLMedia valuation compared to listed peers (as at 8 May, 2021) https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1620719245685-9MF01EHH00LXGT5KDZ0J/Performance+Table News - May 2021 Fund Update Gambling Fund gross performance as at 30 April 2021 https://www.waterhousevc.com/news-archive/april-2021-fund-update monthly 0.5 2021-06-29 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1618640587402-55S7A5C25ACH5UT3SBHW/Jack+Dorsey%E2%80%99s+first+tweet.png News - April 2021 Fund Update Jack Dorsey’s first tweet, which sold for over US$2.9m. Image: twitter.com https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1618640714964-NA2Z8GFQN9PMRT22V75T/Decentraland+Screenshot.jpg News - April 2021 Fund Update All sorts of scenes and structures have been created by community members. Image: decentraland.org https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1618640764478-YM4AN0ANT44GJTQ6N4KV/Map+of+Decentraland.jpg News - April 2021 Fund Update Map of the Decentraland “Metaverse”. Image: nftplazas.com https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1618640808211-CXK3WT53XOL2684NVD03/Vegas+City+District.png News - April 2021 Fund Update A look inside the Vegas City District. Image: nftplazas.com https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1618969062636-OT79CVC5FAAX1MDQ4H48/Performance+Table News - April 2021 Fund Update Gambling Fund gross performance as at 31 March 2021 https://www.waterhousevc.com/news-archive/march-2021-fund-update monthly 0.5 2021-06-29 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1615288875299-KWONX43G3DVRB4ZYQL6O/US+Betting+Handle%2C+State-by-state%2C+January+2021 News - March 2021 Fund Update US Betting Handle, State-by-state, January 2021. Total handle: $3.79 billion. Source: Sharp Alpha Advisors https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1615289137926-0NMC2XS7NQYX7CWVKW8O/PlayUp+Corporate+History.png News - March 2021 Fund Update PlayUp Corporate History. Source: PlayUp Company Presentation June 2020 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1615289213764-ZMGLVB4AOLBQ0KGFJFIC/PlayUp+Financial+Performance.png News - March 2021 Fund Update PlayUp Financial Performance. Source: PlayUp Company Presentation June 2020 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1615289679994-CSOM9W9VV32N3SRP6A9N/Screen+Shot+2021-03-09+at+10.33.47+pm.png News - March 2021 Fund Update PlayUp Peer Comparison. Source: Sentieo, as at 5 March 2021. *2021 Consensus Estimates Used. **Subject to Takeover Offer(s). ***Internal Estimate. https://www.waterhousevc.com/news-archive/february-2021-fund-update monthly 0.5 2021-06-29 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1612839617846-Z8V1QBQXLTQWYSOM7LRE/Strong+product+offering.png News - February 2021 Fund Update Aspire Global’s product offering and partners, from the Q3 2020 investor presentation. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1612839625441-2EO6TD4WRCXH5ZQIRWYD/High+revenues+and+EBITDA+in+Q3 News - February 2021 Fund Update Aspire Global’s Q3 revenue and EBITDA performance, from the Q3 2020 investor presentation. https://www.waterhousevc.com/news-archive/huge-opportunities-in-us-online-gambling monthly 0.5 2021-02-12 https://www.waterhousevc.com/news-archive/january-2021-fund-update monthly 0.5 2021-06-29 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1611552080855-MUP8NA63X0D4AK6XCE00/FanDuel+Investor+Pres.png News - January 2021 Fund Update EGM Investor Presentation, for acquisition of 37.2% of FanDuel, 29 December 2020 https://www.waterhousevc.com/news-archive/december-2020-fund-update monthly 0.5 2021-06-29 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1607114666489-8P3TOSDDCXTSQSMLN4ZL/Grand+Theft+Auto News - December 2020 Fund Update https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1607114158471-275LSIPJ30H0JPQSN6WX/NBA+2K News - December 2020 Fund Update https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1607114191720-GSYFTXG8F16Y6RK1DCG3/Red+Dead+Redemption News - December 2020 Fund Update https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1607068196697-LKY4VO3RL70SN62H2T0Z/Market+share+of+top+titles.png News - December 2020 Fund Update https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1607068279363-KWUUGQVDNN4VY3MH2MYK/Operating+Cash+Flow.png News - December 2020 Fund Update https://www.waterhousevc.com/news-archive/november-2020-fund-update monthly 0.5 2021-06-29 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1605401322836-TL4NXD24H2M8BRH1031W/Simplebet+Screenshots News - November 2020 Fund Update https://www.waterhousevc.com/news-archive/october-2020-fund-update monthly 0.5 2021-06-29 https://www.waterhousevc.com/news-archive/september-2020-fund-update monthly 0.5 2021-06-29 https://www.waterhousevc.com/news-archive/a-fund-toms-betting-on monthly 0.5 2022-02-15 https://www.waterhousevc.com/news-archive/tom-waterhouses-next-big-bet monthly 0.5 2021-09-23 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1627521220859-ZQ2R9PNKEAPLT65S48HG/toms_big_bets.jpg News - Tom Waterhouse’s next big bet - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.waterhousevc.com/news-archive/august-2020-fund-update monthly 0.5 2021-06-29 https://www.waterhousevc.com/news-archive/july-2020-fund-update monthly 0.5 2021-06-29 https://www.waterhousevc.com/news-archive/june-2020-fund-update monthly 0.5 2021-06-29 https://www.waterhousevc.com/news-archive/may-2020-fund-update monthly 0.5 2021-06-29 https://www.waterhousevc.com/news-archive/april-2020-fund-update monthly 0.5 2021-06-29 https://www.waterhousevc.com/news-archive/march-2020-fund-update monthly 0.5 2021-06-29 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1583696349186-IW7R5YEQ3IHG36A056TI/Epidemics+and+Video+Game+Stocks News - March 2020 Fund Update Source: Roundhill Investments, Bloomberg. https://www.waterhousevc.com/news-archive/february-2020-fund-update monthly 0.5 2021-06-29 https://www.waterhousevc.com/news-archive/betmakers-shares-on-the-gallop-after-new-jersey-deal monthly 0.5 2020-02-06 https://www.waterhousevc.com/news-archive/january-2020-fund-update monthly 0.5 2021-06-29 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1579559586817-LPIBITK9T5DBYT4NFA56/Dota+Championships+Shanghai+2017.jpeg News - January 2020 Fund Update At the DotA 2 Championships in Shanghai, 2017 https://www.waterhousevc.com/news-archive/december-2019-fund-update monthly 0.5 2021-06-29 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1576556681527-HWAKWOQHDXUM6I7PMWKA/Evolution+Results+Embed.png News - December 2019 Fund Update https://www.waterhousevc.com/news-archive/november-2019-fund-update monthly 0.5 2021-06-29 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1576557790798-5IROS1YKKS4N0SMMC9D9/November+Update.png News - 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INDUSTRY KNOWLEDGE In 2003, at just 20 years old, Tom became a licensed bookmaker. By 2008, he was the largest and most profitable on-course bookie in Australia. In 2010, recognising the potential of smartphones and online wagering, Tom launched TomWaterhouse.com with a team of three people. By 2013, when the business was sold to William Hill, it had grown to 100 people and a client base of 250,000. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/149aa76d-8b6c-4b42-852e-0bda5f01fe1d/Hands_on_Experience_section_byn.jpg About - HANDS-ON EXPERIENCE In 2014, Tom became CEO at William Hill Australia operating the William Hill, TomWaterhouse.com, Centrebet and Sportingbet brands with around 500 people, one million clients, $2 billion in turnover and offices in Australia, the Philippines and Tel Aviv. In 2018, William Hill sold their Australian business to The Stars Group. Tom bought back the TomWaterhouse.com brand and launched a subscription tipping service. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/3636267c-eaa1-49b5-aa82-e7be9730a672/Teal_linebreaker.png About - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/3636267c-eaa1-49b5-aa82-e7be9730a672/Teal_linebreaker.png About - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/41b4bd73-5809-49d6-becd-c85046eac482/Tom_Waterhouse.jpg About https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/4f836e9c-864e-4c0e-93f4-9883acc4d52f/Amy+Skillecorn About - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/34442d26-b1a1-431c-9a6c-3544e05ffc6d/Michael+Donohue.png About - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/c763e7b4-c2d1-493d-af38-f7b7e0e0ebcc/Amir_Raisszadeh.jpg About - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/49e7f227-463d-48fd-9e00-55afa11a21ab/Oscar+Silver.png About - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/27e18e7f-7e86-4b79-994f-6eed0dedf6e4/Mitch.png About - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/9c2411bc-98bc-4a1b-8aed-873108f8a7cf/Roger_Xie.jpg About - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/6e3e2cd0-5b7a-454a-b4c2-9108068aa3eb/Sou_Yi_Chen.jpg About - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/784647ee-02fe-4c76-8a2b-b8011147ff1d/Mona.png About - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.waterhousevc.com/contact daily 0.75 2024-07-23 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1720143491111-DIKBIEEOFIKY6790K0Z0/Contact_Header_Image_light_2500x1875.jpg Contact https://www.waterhousevc.com/wholesale-investor-definition daily 0.75 2024-07-23 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1720145049822-1EC34XQSA2W572GMILJP/OptionDeals_Header_Image_light_2500x1875.jpg Wholesale Investor Definition https://www.waterhousevc.com/subscribe/thank-you daily 0.75 2025-02-17 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1721697687077-IFHDIOWXM9UUXO9KRZQE/Subscribe_Header_Image_light_2500x1875.jpg Thank You https://www.waterhousevc.com/fund daily 0.75 2026-03-01 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1720060520890-0AZJ1D4T78WTSZ4LDTAK/OurFund_Header_Image_2500x1875_v3.jpg Fund https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/36e5355d-2380-444c-a28e-2c6dc7217282/OptionDeals_Capital_Growth_3.png Fund - Option Deals Capital Growth Waterhouse VC negotiates options to buy non-controlling stakes in technology suppliers to the wagering industry. This strategy minimises downside risk while providing full exposure to company growth. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/ea573288-7fe0-47a9-b35a-5963fd43f903/Global_Equities_Capital_Preservation_3.png Fund - Global Equities Capital Preservation Waterhouse VC invests in listed global equities using our proprietary methodology to select profitable, growing businesses at low multiples. These investments effectively preserve excess capital while ensuring that Waterhouse VC has sufficient liquidity. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/99afe832-1c33-4e0e-bfb3-8ddbda929aa4/Deal+flow.png Fund - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.waterhousevc.com/news daily 0.75 2024-07-23 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1720143305548-JAY8DNUF2PXZJNL3VOU0/News_Header_Image_light_2500x1875.jpg News https://www.waterhousevc.com/subscribe daily 0.75 2024-07-19 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1720396389185-X4P16ZCD5FEMADTSLK15/Subscribe_Header_Image_light_2500x1875.jpg Subscribe https://www.waterhousevc.com/case-studies daily 0.75 2024-07-23 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1720144246974-X6B7FBM2OQFSM338Q9VZ/CaseStudies_Header_Image_light_2500x1875.jpg Case Studies https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/c851d480-41e5-401a-8b0e-7e653c769ce0/Saintly.jpg Case Studies - SAINTLY (Option Deal - EXITED) Saintly owns a cutting-edge crypto wagering technology platform. The company is run by an elite team with a wealth of experience in developing top-tier wagering technology. We were particularly excited by Saintly’s B2B opportunity to white-label its platform. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/adb61d8d-ee41-4629-9a1e-3cdc7005adf4/Betmakers_logo.jpg Case Studies - BETMAKERS (Option Deal - EXITED) BetMakers compiles 100+ data feeds from racing jurisdictions around the world and supplies them to bookies via a single integration. For racing bodies, BetMakers produce and distribute race data that bookies need to deliver a racing product, such as race fields, speed maps, commentary, official prices, and live vision. https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/191991e4-9efd-4d52-8291-988dd02f1f66/Project_Tennis_Section.jpg Case Studies - PROJECT TENNIS Project Tennis (led by Tom Dry) has been betting on tennis since January 2020. Tom Dry has experience working for Tony Bloom (the world’s largest football bettor), both as a football analyst and data scientist. Through this experience, Tom developed both the analytical and operational skills required to build a professional betting business. https://www.waterhousevc.com/media daily 0.75 2024-07-23 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1721106301644-01HS6C0OV19GSOBLB2QQ/Media_Header_Image_light_2500x1875.jpg Media https://www.waterhousevc.com/privacy-policy daily 0.75 2024-07-23 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1720144496389-8KRY05MEQKLNU68U8UKH/PrivacyPolicy_Header_Image_light_2500x1875.jpg Privacy Policy https://www.waterhousevc.com/terms-of-use daily 0.75 2024-07-23 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1720144372236-KYLP0CAH7HV2CNTX4PNZ/TermsofUse_Header_Image_light_2500x1875.jpg Terms of Use https://www.waterhousevc.com/home daily 1.0 2024-07-23 https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/1720139985086-GWPOB0PVITONPSHOGAZJ/Home_Header_light_2500x1875.jpg Home https://images.squarespace-cdn.com/content/v1/5dd89a8f722ee0060d15c00a/6e6c288c-2d58-43da-a391-93f056568f86/About_Us_section_2.jpg Home - About us Tom Waterhouse, Founder and CIO of Waterhouse VC, launched the fund to leverage his 20+ years of experience in gaming and wagering. 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