Tom Waterhouse

Early life

Waterhouse was born in Sydney and educated at Shore in North Sydney. He studied a bachelor of Commerce & Liberal Studies at Sydney University, majoring in finance and marketing with the intention of working in finance.

Bookmaking

In 2001, Waterhouse's father, Robbie Waterhouse, asked him if he would help out at Rosehill racecourse, which Waterhouse enjoyed. He was only six months into his Commerce degree, but he immediately rearranged his timetable so that he could attend the races for the rest of the week.

After obtaining his bookmaking licence he began working as a bookmaker on course in 2003. By 2008, Waterhouse was Australia's biggest on-track bookmaker, holding more than $20 million over four days at the Melbourne Cup carnival, more than all the other bookmakers combined.

For four years Waterhouse lived in Melbourne's Crown Casino for most of the week due to the protectionist betting laws in NSW.

Internet based business

Waterhouse's online gambling business is tomwaterhouse.com. The business is owned by a network of companies owned by Robbie, Louise (Robbie's sister) and Tom Waterhouse. The company is one of Australia's largest corporate bookmakers, with offices in Sydney, Melbourne and Darwin, and claims a client list of 100 "high-net-worth individuals" whose minimum bet is $1000.

In 2013, the escalating presence of tomwaterhouse.com promotions and editorial commentary on free-to-air television led to a significant backlash from the Australian public against Waterhouse personally and the wider gambling industry. In 2013, Tom Waterhouse declined an invitation to appear before a federal parliamentary committee into gambling reform. Tom Waterhouse released a statement to the committee denying that his advertising during sports broadcasts intentionally targeted children.

Australian Senator Nick Xenophon said, "Tom Waterhouse has pushed the envelope to the extent that it has now got to the point that it's out of control and there needs to be a legislative response"

In May 2013, Waterhouse was directed by NSW Racing stewards to keep his bookmaking business clearly separate from the training business of his mother Gai Waterhouse, to avoid public perceptions of a conflict of interest.

On 31 May 2013, Waterhouse issued a statement saying "I am sorry. I have listened to the PM and Australia and have made the call with Channel 9 to dramatically cut back on my advertising from tonight."

Family

The first bookmaker in the family was Charles Waterhouse, who attained his licence in 1898. Waterhouse's maternal Grandfather, T.J Smith was an Australian racehorse trainer. His mother, Gai Waterhouse (maiden name Gabriel Marie Smith) is a leading Australian horse trainer, businesswoman and a former actress. Gai Waterhouse served an apprenticeship under her father for fifteen years before receiving her own trainer's licence.

Waterhouse's father, Robbie Waterhouse and grandfather William "Bill" Waterhouse are also bookmakers. They have attracted controversy in the past including the loss of their bookmaker's licences for eighteen years (originally life bans) due to their involvement in the Fine Cotton substitution scandal in 1984.

Tom Waterhouse married wife Hoda Vakili in 2011, in the Italian town of Taormina. The couple met at Sydney University, where Vakili was studying her Master's in Architecture. Close friends for years, Vakili even worked at the track for Waterhouse for three years taking bets during her degree.

Media

Waterhouse is a regular contributor on many sports-related television and radio programs, as well as various newspapers and magazines.

He is the co-host of Sportsline on Sky Business, and the racing-focused Two Cups and a Plate on TVN. He pays to appear on the Nine Network's Wide World of Sports and is a regular during Nine's coverage of the Wallabies, and featured during the Rugby World Cup 2011. Waterhouse is a regular guest on 2GB with Alan Jones on Friday mornings during Autumn and Spring to discuss racing and sports. He regularly featured during the Channel Seven's coverage of Wimbledon 2012, and Ascot on TVN.

Waterhouse was a contestant on Dancing with the Stars in 2006. He was the second contestant voted off.

According to The Age, Waterhouse's staff have edited this Wikipedia page. Waterhouse told the reporters that, although his staff takes down false or defamatory information, he has never requested that anything in particular be removed. The Age criticised the at times selective coverage of the Wikipedia article.

More Joyous inquiry

At the 2013 Sydney Cup day on 27 April at Randwick Racecourse, John Singleton fired Gai Waterhouse (Tom's mother) as trainer of his horses amid allegations that Tom Waterhouse gave acquaintances inside information that Singleton's horse More Joyous was unfit to win the All Ages Stakes. Tom Waterhouse denied any wrongdoing and was cleared in a stewards enquiry conducted by the Racing NSW. Waterhouse was warned not to use his mother's name to promote his bookmaking business.

Awards

Waterhouse was included in the SmartCompany's Hot 30 Under 30 class of 2012, group of entrepreneurs aged 30 years and younger. Tomwaterhouse.com was ranked 19th in the Deloitte Technology Fast 50 Australia 2012.