Tom Waterhouse's detractors – and there are many of them – have been baying for his blood, pitchforks in hand, and outrage squarely aimed. But the negative publicity the racing thoroughbred has faced over the past few months may actually be good for his brand and his company.
Why? Because the people who really matter to Tom Waterhouse’s bottom line, the ‘real’ punters, don’t care about the furore stirred up in the mainstream. With the Waterhouse name in the paper every day, it’s only increasing his profile.
The sports betting category has grown enormously over the past few years thanks to the entry of several online betting companies which have made betting easy and accessible. But they’re virtually indistinguishable from each other – Sportsbet, Sportingbet, Centrebet, Betfair, Bet365, and the list goes on.
But Tom Waterhouse, that’s a name you remember. He has pedigree, he has lineage and his company name isn’t just another variant of bet-something-or-other.
The scion of racing legends Bill Waterhouse and Tommy J. Smith, and progeny of Gai and Robbie Waterhouse, Waterhouse the younger has made his brand out of his name.
“I suspect, either through accident or design, Tom has learnt from both his grandfathers – make it personal,” Ogilvy PR media director Sam North said. “Bill Waterhouse made it personal. He knew that if people wanted to try and take him down, they would lose their judgement. Now, people will say, ‘I’m going to take Tom Waterhouse’s money’ or ‘I’m going to have a go at Tom Waterhouse’.
“The publicity will only enhance his brand because he’s out there and like him or loathe him, you’ll bet with him.”
Waterhouse has been in the press for months over his controversial integration into Nine’s NRL coverage. He has been the focus of a government inquiry into the promotion of live odds during sports programs and has become the poster child for the gambling industry to those concerned about the proliferation of sports betting in Australian culture.
But it’s not all smooth sailing for Waterhouse. Founding partner of Push Collective and former managing director of FutureBrand, Erminio Putignano, warned the growing awareness of Waterhouse’s company doesn’t offset negative sentiment towards his brand. “The difficulty is that growing awareness doesn’t grow the appeal. Especially now as Australians have become sceptical towards the integrity of sport. The risk to his brand is particularly high,” he said.
According to a report in Fairfax press, Merrill Lynch predicted sports betting turnover will be over $4.5 billion in the 2012/13 financial year, which will translate to $410 million in revenue for the industry.
Tom Waterhouse (the company) declined to comment.
This article first appeared in the 3 May 2013 edition of AdNews, in print and on iPad. Click here to subscribe for more news, features and opinion.
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