In this episode of CMO Weekly, host Hayley Clover sits down with Tyler Amirault, the co-founder and CEO of Hot Takes, a free-to-play sports betting app. Tyler built the initial version of the app while in college after noticing that many of his friends needed "handholding" and a safe place to practice and learn how to bet without risking money.
Hot Takes has since grown into a successful company that helps Gen Z and other new bettors learn about sports gambling safely. The app allows users to earn real cash and Bitcoin while practicing their betting skills. The company has achieved significant milestones, including hitting number one in its category and securing affiliate partnerships with major sports betting companies like bet365, BetMGM, and Caesars. Hot Takes has also received backing from Incentive Games.
Tyler, who has a background in engineering at Square and studied at Ivey Business School, discusses his journey from building the app in college to its current success. He talks about the company's evolution from a simple free-to-play app to a content entertainment company, with a focus on targeting a broad audience and meeting them at their current level of betting experience.
Key topics covered in this episode include:
The origin story of Hot Takes: Tyler shares how the idea for the app came from a conversation with friends who were new to sports betting and didn't understand things like odds or parlays.
Marketing and growth strategy: Tyler explains Hot Takes' grassroots marketing approach, which began in Ontario with a focus on localized efforts and building trust through micro-influencers and brand partners. He also details the company's current multi-pronged, omnichannel strategy, including a heavy focus on social media platforms like Instagram, YouTube, and TikTok, a blog, and a newsletter with 25,000 subscribers.
Unique position in the market: Tyler highlights that Hot Takes has no identical competitors because it offers a completely free platform where users can play and compete with friends, monetizing through affiliate partnerships instead of taking money from users.
The future of Hot Takes and the sports betting industry: Tyler shares his long-term vision for Hot Takes as a comprehensive "entertainment ecosystem" for sports fans, with a focus on new social features like group chats and custom leaderboards. He also offers insights into the future of the affiliate space, predicting a shift towards retention and tech-forward solutions.
Audience and demographics: Tyler mentions the demographic of Hot Takes users, noting that about 24% are female, and discusses how the app appeals to both seasoned bettors and those who want to feel included in the sports betting conversation without betting real money.
Tyler also participates in a fun rapid-fire question round, revealing his favorite city, who he'd have dinner with, his biggest sports "hot take," and a brand he admires for their marketing.