A natural overlap between those who bet on racing and those who invest in cryptocurrency represents a major opportunity for the emerging crypto casino and sport betting platforms to capitalise on the racing industry.
That’s the view of Ishan Haque, the Australian-based executive of crypto betting platform Shuffle, who sees the potential for these global platforms to dominate all aspects of the wagering industry, including racing.
Haque recently spoke on a webinar conducted by Waterhouse VC, the wagering industry focused venture capital firm led by former bookmaker Tom Waterhouse, where the scope of the crypto casino market was discussed.
It is predicted the unregulated global market under which many of these relatively new crypto-betting operators currently exist will be worth up to US$210 billion in gross gaming revenue by 2030, 36 per cent of the overall global total addressable market when it comes to wagering.
Australian-owned but Curacao licensed Stake.com is the market leader, with Haque estimating it is 10 times larger than their nearest rivals in the space.
But a host of operators have emerged, including Shuffle, founded last year by Noah Dummett, working closely with Haque. Like Stake, it is Melbourne-based and licensed in the Caribbean island of Curacao.
Asked about the potential for crypto-based operators to tap into the racing market, Haque said there was definitely an opportunity there.
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