Former Fitzdares chief marketing officer Harry Collins has unveiled DrawHouse, a B2B supplier aiming to provide operators and media organisations with prize draws backed by a global liquidity pool.
Collins founded and has served as CEO of Network Gaming since departing Fitzdares in 2019, with the DrawHouse launch being powered by the supplier’s infrastructure.
DrawHouse has also tapped former FairPlay Sports Media UK managing director and oddschecker stalwart Jamie Pinner to be chief commercial officer.
DrawHouse will initially focus on the UK market, with plans in the pipeline to explore expansion into Latam and Africa.
Backed by a series of industry investors, the London-based business emerged from stealth mode this week.
DrawHouse is positioning itself as a means by which operators can both acquire players and keep them engaged and is close to penning agreements across the sector to supply its content, EGR understands.
One partner as already agreed terms, with further companies in dicussions.
The product will allow firms to run independent draws and also tap into a shared liquidity prize pool for other competitions.
The platform also manages compliance, KYC, payments, draw operations and prize fulfilment to allow for fast deployment, management added.
Speaking to EGR, Collins said: “We’ve seen this opportunity in a large and fast-growing market. We’ve seen this large, fragmented market. We have the right technology via Network Gaming, to power a better, more frictionless product.
“We also saw that all of the businesses are very similar, and we thought that we could find a way to differentiate the product and make it a better experience for customers.”
The prize draw sector in the UK has been dominated by the likes of London-listed Winvia, which owns Click Competitions, and Omaze.
There is also a significant longtail of smaller businesses operating in the space.
As per data released by the government last year, around 7.4 million people in the UK played with a prize draw operator in the 12 months to November 2023, spending £1.3bn.
On competition in the space, Collins added: “There is already strong competition on the B2C side, and we expect that to continue growing. On the B2B side, there are a handful of players today, and no doubt more will emerge over time given the size of the opportunity.
“It’s a competitive market, but ultimately we believe this will be driven by product quality and service. We feel well-positioned given the infrastructure we’ve already built and the experience of the team behind DrawHouse.
“The government projects the market to grow by 20% year on year. Our belief is that there’s sizeable number of lottery players in the country, 25 to 30 million players play lottery, and the government said there were seven million prize draw players. That’s where the headroom is, taking that wallet share from lottery.”
Also speaking to EGR, Pinner said he viewed the sector as a “hyper growth opportunity”.
He added: “This is a rapidly growing market that has the opportunity for operators to come in, swoop and grab a chunk of it.
“It’s a softer acquisition source that I think can lead to heavy cross-sell to casino, if companies want to. And we’ve seen that from data we’ve looked at. You can acquire customers cheaper than you can into traditional gaming-based products, and also there’s a real social and viral element to them, which a lot of gambling companies have really strived for over the last 10 years and never really found.”
The post Former Fitzdares exec unveils B2B prize draw supplier DrawHouse first appeared on EGR Intel.
Network Gaming founder Harry Collins reveals new business and taps ex-oddschecker head Jamie Pinner as commercial chief, with plans to attack “fragmented market”
The post Former Fitzdares exec unveils B2B prize draw supplier DrawHouse first appeared on EGR Intel.