(This is our summary of the podcast Noah did in July 2024)
🎲 Dive into the mind of @noahdummett, founder of Shuffle, doing >$1 billion wagered/month after a year!
Find out what he
🔥 learned from working at FTX & Bitmex;
🔥 thinks of the competition;
🔥 recommends to reach the crypto crowd!
Give me a follow if into GambleFi 🫡
🎓 Noah began coding at 14 & quickly delved into the crypto world.
His career path took him through Intercom, Bitmex, and FTX.
Each experience honed his skills & shaped his vision. Today, he’s the driving force behind Shuffle, a billion-dollar online casino venture.
💡 Noah holds a pragmatic view on crypto use cases.
He believes the real value lies in payments, value storage & permissionless tech, rather than in NFTs or meme coins.
This strategic focus has guided Shuffle’s development & approach to integrating crypto into their platform.
🎲 Despite tech advancements, Noah remains skeptical about the feasibility of fully decentralized casinos.
He argues that the speed & efficiency required for online betting can’t be matched by current / foreseeable changes.
Quick bets & instant payouts are essential.
📊 The online casino market is immense, with players like Roobet, Gambdom, Rollbit & Stake generating huge revenues.
Noah emphasizes that while tech is important, true differentiation comes from effective marketing & distribution strategies.
Creating a unique UX is key.
🏆 @Stake, another Melbourne-based company, serves as an inspiration for Shuffle.
Noah praises their smooth product & ability to handle large bets.
Stake’s public trust is something he aims to replicate with Shuffle, while avoiding the pitfalls of over-expansion seen at Bitmex.
🚀 Launched in Feb 2023, Shuffle’s team is a tight-knit group of Noah’s old friends & colleagues.
This familiarity allows for rapid iteration & improvement.
Despite lacking gambling experience, their connections in crypto have been crucial in attracting users from the start.
🌐 Noah’s approach to engaging the crypto crowd is building quickly, iterating if things don’t work, and keeping teams small.
Shuffle’s strategic token launch and $50 million airdrop in March 2024 significantly boosted growth, 3x’ed their user base almost overnight.
🎮 Noah is exploring ways to innovate the casino experience by gamifying community interactions.
In legacy casinos, player communication is zero or extremly limited.
Shuffle aims to change that by introducing games, where users can play against each other.
🥇 Noah provides a candid assessment of competitors.
@rollbitcom: Product outstanding – across trading and casino games. Games are super smooth. Not so good on bonusing and VIP. Some issues with trust & transparency.
@Stake: Almost perfect product, great trust, public team. One in a million deal with Drake & nailed the influencers. See how they transition to large company.
@gamdom: Good pivot, relatively good product & good hosts. Well established with trust. Not so good on VIP/bonusing.
@Roobet: Amazing marketing job. One of the 1st to do influencers well. With 1st mover advantage, if they executed like Stake, would be number 1/2. Fantastic VIP.
@shufflecom: Not gambler team so fresh eyes. VIP one of the best, bonusing & hosts good. Comms/sports can be better.
📈 Scaling Shuffle involves strategic expansion while maintaining a lean operation.
Noah aims to rival Stake, focusing on compliance to ensure long-term sustainability. Chaos at FTX clear lesson.
Experimenting with games, markets & leveraging their token all part of the plan.
🚀 Noah envisions Shuffle as a leader in the online casino space, competing directly with Stake.
By continuously innovating and offering unparalleled experiences, Shuffle looks to set new standards in online gambling, attracting a loyal and expanding user base. 🎰
Top marks to Noah for doing this interview, his first podcast.
Putting himself above the parapet goes a way to establishing trust with the Shuffle brand & in a sector not best known for its transparency / doxxed teams.
Full pod link: https://x.com/noahdummett/status/1808289145342828877
Thks to @nextdotio
