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The "Twitter of Betting" Has Sharks RUTHLESSLY Undercutting One Another | Shark Tank AUS
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- Опубліковано 15 жов 2019
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Michael Timbs, founder of 'Betswaps.com' entered the Tank seeking an invest of $200,000 in return for a 10% equity stake. Steve Baxter already has a real issue on the growing popularity of betting in Australia, but does Mr. Timbs' service aid their addiction or fuel it?
An international sensation, Shark Tank AUS features entrepreneurs pitching for investment in the Tank from our Sharks, five venture capitalists willing to invest their own money in exchange for equity.
As Seen On Shark Tank Australia Products: amzn.to/2ZJBbyf
Shark Tank US Products Collection: amzn.to/3bMNjmI
#SharkTank #BettingAddiction #DollarSigns
Balls of steel. This kid is a great negotiator.
The Logical Vegan I got balls of titanium
I got a ball.
I got balls made of uranium so stop kicking there.
@Matthew Madruga how did he fuck it up? are you actually that dumb mate?
Your Name Is Not Logical.
Steve: 30%
Janine: 30% and your firstborn
Naomi: I can bring value and therefore, I'm out.
Andrew: USA
😂😂😂
Bro😂😂😂😂😂😂
Bruh that janine thing got me so hard... she literally would ask for their first born if it wasn't live tv 😂😂
Damn so accurate
😂😂😂facts
Andrew is a gentleman ... he never gets mad for rejection.
Why would he? Just like he has the right not to invest, the other party has the right to reject his offer. It's the nature of business.
Sensitivity equals poverty , if he gets offended easily he's not meant for business
It's business... Getting mad isn't business... Gosh, what a comment 😂
Always 1st to get up and shake hands...respect 👍
@@sesu5604 your comment is so ironic
This is how you need to come into these shows. WITH OTHER OPTIONS. Never give them the upper hand and get in a position of "you're my only hope" because they will sense it and rip you off.
RealTalk the issue is that 90% of the people that come on any of the Shark Tank shows are there as a sort of last resort - it’s mainly tailored towards those people. One of the Shark Tank shows even gives all of the investors a tiny percentage of every business that comes on, regardless of if they make a deal - since they’re getting airtime and the businesses are that desperate.
@@cr5678 OMG!! People actually started using these shows as free publicity BECUASE they realized it's just designed to rip you off and they are better off using it as publicity to get better investors.
Now you tell me one of their shows gives these assholes a percentage of any business that comes on?! That's SO GREEDY Obviously the inventors are getting airtime but the people make a lot of money from the show. Inventors coming on makes the show...and it's not like they are getting a cut of the profits of that episode are they lol
They ain't called sharks for no reason!
@@DocRealTalk You don't know what you are talking about. Giving away a large stake in your company and have a shark catapult your business is worth it in most cases. Greed is business buddy. 30% of 10 million dollar company is still more than 50% of a 2 million dollar company. Also more often than not these guys are way better than your typical investor. T
@@brent6454 Point has gone over your head. I know basic maths so it's just funny people giving me this reply. You're not even the first.
I would partner with Andrew anytime. He just comes off as an honest, professional mentor.
Me 2
For anyone who is interested, we did not end up taking investment from the sharks and decided to shut down about a year after this. After about 2.5 years offline we decided to reboot at a smaller scale that was maintainable without taking outside investment. As of 2021 we are back up and running
I'm sure the sharks are glad that they didn't invest. You guys will not survive.
I think that’s a little bit forward keep on trying!!
o
Have you tried a subscription business model with a claim of definite return on tip return.... It's a very risky business and trust me, bookmakers will crush you like a cockroach if you're slow to put a foot in the market, unless you build a solid reputation of return for you customers and force their hand to coexist.
Dead business
What an absolute madlad, never seen anyone negotiate that hard bring Steve from 35 to 15.
Steve is always like:
"Where ya from mate?"
Steve: "nice."
"oh guud staff"*
*"guud staff"
It's noice
404 error comment not found
Where did you sleep yesterday?
Steve... "I'll flip to fifteen mate"..(from 35) That kid knew how to do a deal !
from 30 but yeah
@@bikerboy3k30
-takes glasses off-
-takes glasses off-
-takes glasses off-
Michael, I'm interested.
Thamailmane why did I laugh so hard
Man, i laughed way to much, i noticed he took them off all the time
0:38 1:44 3:07
Laughed way too loud at that. Didn't expect it it to be so funny lol
This is one of the most thrilling bargaining I have seen
Watch the electric skate board one way better
This man was steel. He treated himself as value and they had to bring themselves down instead of them always bringing the entrepreneur down.
Yes, you are right. You could tell by the expressions on the shark's faces.
Why do you have your webcam covered ?
Dang, from 1 shark at 30%...He gets 2 at 15%. Good Job Sir!
Ms. Red always says "what I bring to the table" and ups her equity way up
A deal was never consummated after this show and the site failed to raise money to scale itself up for the demands. So betswaps is now closed and the owner developed an app that primarily supplies race information but not tips. Certainly, due diligence paid-off for these two sharks because as what usually happens in these sites, the investors would've been told to put more capital in or face losing everything. The sharks got off easy on this one.
Wow
Andrew acts as if he is the gatekeeper for all businesses trying enter the US.
😂😂😂
he took pressure that was being brought onto him and put it right back by saying other investors are interested and mentioned it at the right time since he wasn't taking 30% regardless
Hats off to this guy for standing his ground. He's shown qualities that suggest that he will find success.
Nope
Not in this company. Site's down indefinitely.
He Failed 😂🤣
"We are made 25,000 dollars last month alone." *Drops the eyeglasses*
I totally forgot what this dude was selling and got lost in his confidence in himself and his idea. Let that be a reminder.
Top comment
The sharks knew that business model was a cash cow but smelled blood in the water so they tried to bend him over at first...they dont call em sharks no reason
Just search their website
Is it just me or do the girls never or rarely ever invest
@Coппor J I didn't even know her name was Naomi until now, and I've been watching the sharks on UA-cam for about 2 weeks now xd
No , they're too scared
It’s cause they have no money
yeah true
women dont like to loose what they have
They are influenced by Jenny
Best negotiation I have seen in 10 years of shark tank. Good job 💪👊
Steve calling this not a part of betting is like calling a crack pipe not part of drug abuse.
Especially when that crack pipe has ads for where to get the next hit
@@annalu2505🤣🤣
Steve and Glenn did not ACTUALLY invest. That's the real scam. Pretending to invest to look good on tv. and then not actually giving a penny. Australian investors... at their best.
MtgLion how do you know this man
No offense do you have any evidence to back that up if so could u link me to that I am interested
If you guys scroll down on the comment section on this video, there is a reply to a comment which says that steve and glenn never invested in the end since they couldn’t “agree on terms”
This reply was also by betswaps or whatever they’re called
So 1 UA-cam reply that you can't even find that probably doesn't even have any links and is just "I heard from a stage guy backstage"?
For your lack of evidence, and your crackpot theory, I'm out.
The company closed down. I think they ran out of capital.
good
Yep RIP. Looks like their competitor punters.com killed them off
These kind of sites came out in 2003ish so it's certainly not a new concept :D
@@XX-qj9sj well betswaps really looks like an obvious copy of punters, look at the introduction videos - www.smartcompany.com.au/marketing/betting-business-that-landed-a-200000-deal-on-shark-tank-accused-of-blatantly-copying-punters-com-au/ After this news I am not surprised they have closed the business..
Phil Long, I stroll straight down hoping someone has included this info’ 🙏 🙏
Steve - "I detest gambling in Australia"
Steve 5 min later - "I'll buy in at 25%"
he got steve to serioysly drop the % he was asking for... props
Wow kid is stone cold, he knew the potential his business has and was gonna let them take it or leave it under 20. He knew what they would offer that's why he came in asking 10. Smart boy, good on ya
well it didn't go throw because he lied then his business flopped
The website isn’t even working anymore
lol
That kid knows how to negotiate
Boy totally killed it, most of the time sharks ripp off people off their own business if they see potential but the guy pitching it is not a good at negotiating. Guy stood his ground. Loved the idea as well.
Steve always looks like he can't wait to finish the show to snort his coke
that's how everyone who does coke look like.
Firmness, Determination & Confidence are the elements behind his pitch.
Probably the best negotiating I've seen. Bravo..
If Mr.Wonderful was there he would say you're dead to me 😂
This was just a spectacular performance and congrats on the 2 sharks!
Am from South Africa 🇿🇦🇿🇦🇿🇦🇿🇦 and find myself binging on this show 🤟🤟🤟
Damn me too
Me too. Not a patch on Dragons Den, but interesting.
I am from Port Elizabeth.
Lol she said "thats not much of a negotiation" then he gets 2 for 15%. I'd say thats a brilliant negotiation.
I don’t buy this “value” I’d bring to the business garbage. They invest in multiple businesses all the sharks could do is palm these people off to their contacts.
I imagine they'd get some type of councel from the Sharks, even if its short, the Sharks are aware of how to build a successful business cause they've done it many times.
experience has insane value :) in whatever position
congratulations Steve and Glenn you guys just doubled your investment within few months I believe...!!!
a good young man who knows what he wants a got what he wants good on him
What a negotiation! Kids a legend
Love when Steve says “whereabouts are you from mate?”
One of the best clips I've seen of shark tank!
Hmm... his website's turned into an under-construction landing page... anyone know what happened to it?
This is an old episode. Could have changed the name or sold the business. I'd do some more digging.
According to his LinkedIn, he was "founder" from Sep 2013 - Nov 2017. It seems like it was changed to swoopers.com.au/ (At least it's owned by Betswaps Holdings Pty Ltd) - I'm not sure what is going on, on betswaps.com. Betswaps is hosted on a US server, while swooper is hosted on an Australian one, so maybe betswaps.com is gonna be based on the US market? I'm not sure though. None the less, it seems like he is no longer a part of it.
And also, a search on LinkedIn reveals past shareholders, a CFO and more. But all is past, I can't find anyone who is working there now.
Hi Rohan. This episode was filmed in late 2015. We reached a point where scaling issues got in the way of getting the product (~5,000 users) to where it needed to be rebuilt and could not raise the money to bring in enough people. As founder I bought out all other investors (Steve and Glenn never invested in the end but there were others) and began a re-write of the product in a way that would make it scale globally. During that time the market conditions changed and it didn't make sense to continue with the project.
There's a chance we could be back one day (we have half a product built and we had some great product validation) but the appetite for investment in gambling is not high, which means bootstrapping is the only option.
Why did Steve and Glen end up not investing?
@@willlyons1339 largely couldn't agree on terms. At the time there were three other minor shareholders and all parties could not agree on the terms of the investment
Wow, he had them Sharks whipped!
Barbara called from US to tell them she is out
In 50 cents book he mentions when you walk into a business meeting , you need to act like a man who doesn’t need another thing in the world . He also mentions you can’t make fast decisions . Sit on it .
I dont know how much the guy success at this moment but I wish I have that determination in decision making like him,!!!!
Great episode but I don't see this still working right now at all, not in this day and age economy across the globe... I wonder what he's doing now because he sure does have the brains..
Nobody:
Steve: hey mate im steve where are you from?
One thing I like abou Aussy shark tank is , tables can turn anytime where after entrepreneur pitch the shark need to pitch about how good they are and how can they help him/her
The juice lady in blue had a horrible excuse. The business valuation is not blue sky by any means.
It's a highly edited show. I doubt that's all she said.
Is it blue or is it black?
juicy either way though 😊
7:59 definitely blue 👍
So will Steve and Glen each pay 200K for 15% which means a combined 400K for 30% ,or will they each pay 100K for 7.5% which means a combined 200K for 15%?
7.5% each
ZaynJm thank you
What a smart kid! Those sharks were kinda pushing him around a little bit with those 30 percentiles. What a rip off for a company that is most likely gonna take off without any of the sharks. Steve fought his way in. That was great. These 5 sharks are my fav. Sorry Mr. Wonderful.
Edit: Is it true that the site ended up failing? Steve and Glen never actually invested? That sucks. Seemed so promising.
Damn he held his ground like a BOSS!
That’s enough UA-cam for today, I’m out ✌🏽
Shoulda phrased it "That's enough UA-cam for today and for that reason, I'm out."
Renegade Reaper ahah ye
Steve=grumpy shark
Janine=smart shark
Andrew=International shark
Naomi=picky shark
Glen=Doctor shark
Their site isn't even live right now. Does anyone know if the sharks got their investment back and/or received a return?
No Sharks will drop to 10 percent to meet him, somehow he gets two of them for 15%.
lmao idk why im here but good on him.
Wow! One of the greatest negotiations on the show!
Foook....he is going to make some serious $$$$$$$
Best of shark tank Aus .. this gentlemen is damn good negotiator , clever & stiff
... Glen and Steve are going to make billions over this ... Good luck folks
Omg red dress offered :D I'm so happy haha
He didnt need andrew to tell him to advertise to america. Americans love their gambling and you can hook them with a simple static image lol
200k for a WordPress site? you kidding
What's wordpress has to do with it. If it's generating value. I designed a website for my client. Which does over a million in revenue in a year.
@@prateek1703 that was a year ago.. i was stupid.. i've come to realize that all that matters is "How it works"
@@bigdata9605 great, I have got to see the date before replying..
When it comes to horse racing you can get the information from a racing form. Horses win percentage, money earned etc.
I change my clothes unlike these sharks and for that reason I’m out- Barbra
That seems like a lie thanos
Just to give you all some context. Of Steve, Jennene, and Naomi, Steve is the richest at a networth of $50 million. John, the guy with black hair, has a debt over $16 million. Glen and Andrew are the only ones with a networth over 100 million. One of them is close to a billion and I think it's Andrew at 700 mil
He had there number he didn't brake stand your ground.
I know this was filmed few years ago, but there are A LOT of these kind of websites that give tips on betting and I have used a few actually but I have never seen this site so I doubt it was the first tipping site as he says, surely it would be one of the most popular then, because they all basically offer the same thing
Wow that’s a really really good investment he’s got 2 investors 7.5 each for 100 k wow that’s massive
Milan Amin are we watching the same video mate
Milan Amin it’s 15% in total it’s halfed between the two of them
@UC_rkZCyGIst_EvRIx-g9N7g no its 7.5% each, $100k each haha
@milan Amin he wasn’t willing to budge at all at 10 percent he rejected 30 percent without a thought why would he do that :S
Smart guy
Seriously after a long time great episode, tat guy won the lottery fr sure, wat a play
6:10 that music. He sees it. He's fucking geeking out over their shit while they're doing it.
This kid is quite the negotiator!
Copy cat
did he just get 2 for %30 or 2 for 15%? Was a little unclear at the end.
they will get 7.5% each
This guy just balled the entire team😶
Im here and ur here since this video came out a hour ago
Yup, I'm here, like you're here.
Like the rest are here.
Em_xo xo is here
and other people are here and for that reason i’m out -barbra
Mentions AUS Coin founders, tries not to laugh.
That look from Andrew at 8:52 to Steve is like "you son of a bitch, you budged! we were supposed to hold the line" lol
this guy looks a little an australian mark zuckerberg
Love him. Great negotiation
What is the success record of their tip sheets? There's a lot more in the formula than win, lose, weight and how much money horses make.
Often a horse is only as good as its Rider... Do they have a separate tip sheet and fee for jockeys?
Spot on negotiation. Best one I've seen yet! good job!
I want to be bored and stop watching these but i cant :(
I like Steve and his straight to the point attitude - but just being curious - why is he asking everyone "where are you from" ?
Not enough details about the website , where they get their information or why can't it be copied. Silly lack of information on this show.
Perhaps those detailed discussions weren't included in the show, or on this video clip. I know in the US, much more due diligence and negotiations are conducted after the show is aired.
@@dalekelly7639 I'm sure you are right but, the viewer needs more detail also to decide if its a good investment.
Sounds like etoro of gambling
Was definitely a inspiration for the idea and in the early days we pitched it exactly like that. Unfortunately not enough people had heard of eToro back then
Repeat the process and sell it in USA
can someone upload the celebrity special episode with Jason Donovan, he invested in a company that bottles your own farts and delivers them to your enemy via overnight 1-day shipping.
Does it really exist?
O, man. I'd be happy to have one
my guy got an offer from the red-dressed witch
Fuckin hell most CEO move ive seen
It must be an embarrassment for these entrepreneurs to see themselves down the track, especially if people believe a deal was done. Everybody would ask, 'Why did your business close if you got the investment?', and they have to reply that they didn't get the investment afterall as due diligence revealed the pile of lies told to the potential investors that knocked over any chance of closing the deal.
Super interesting negotiation
THIS is way better than the US version!
Wait a min...theres another shark tank?
Now imma have to take 2 lunches a day
Hmm. Doesn't this already exist? I know you can buy expert tips and stuff already. The only thing I see this as being different is maybe being all in one site. And they might be charging you more than if you went to the person's page and bought it there.
The main aim of the platform was to independently track and verify the results of "professional tipsters" in an attempt to tackle the huge amounts of fraud in the tout industry. The secondary aim was to provide a platform where good tippers and punters could easily build a business selling tips without needing to handle all the administration, development and upfront costs themselves.
The problem with businesses like this is that they are a dime a dozen now. In fact nowadays I can get access to superior information and for dirt cheap. I'd be surprised if this company is still around or doing nearly as good as projected.