Remember Tom Waterhouse? He is probably the third best known person in his family who famously and aggressively splashed his bookie business across any media outlet that would take his cash.
And that’s not an insult – the new generation of Waterhouse is making waves, again.
The son of legendary trainer Gai and bookie Rob, wagering operators today blame him for the federal government’s push into banning gambling ads but they also privately acknowledge he got it right and first [Tom famously was on every ad spruiking odds and his business that played so much, it caused uproar, but copycats across the wagering sector recognised the benefits and pretty much do the same.]
Well, Tom famously sold his bookie business for around $34 million and going by reports in the Australian Financial Review [paywalled], he’s making even more cash.
Waterhouse set up Waterhouse VC, an investment fund, which now manages around $100 million, not bad when you consider he charges a management fee of 2% and a performance fee of 20%.
And the kicker? The AFR reports Tom has somehow delivered 3880 per cent return since inception, returning 81.1 per cent annually. They are astronomical numbers, if in fact they are accurate.
Sure beats punting on Ballarat Maidens.
Robbie too will be smiling, as he is named as the second biggest investor in one of Waterhouse VC’s companies, ListedReserve, which has reportedly made returns of 45.7%. Not bad, again, if indeed true.
Much of the information was included in a presentation to investors in late 2025 which just happened to find their way to the AFR.
The cynics in the industry on Monday morning viewed the AFR report as strategic, rather than accidental. What deals are Waterhouse and his staff working on that such media would help with?
The report featured a raft of positive reviews of Waterhouse’s successes.
This includes investments into crypto, technology, gaming, betting syndicates as well as established players in the Australian wagering space.
Plus also Betmakers*, Pointsbet and even Wolfden, created by pro punter and all-round good guy Kingsley Bartholomew.
The AFR makes the salient point the investor deck doesn’t list how Tom has achieved such glorious returns.
Regardless, the 43 year-old is proving there is indeed life after bookmaking.
*Betmakers is a equity and technological partner of Betsy
