Studying cinema and photography at the University of Leeds to heading up a matched betting website may seem like two completely different worlds, but as Sam Stoffel explains:
“The transition for me was more natural that it appears. As well as passion for film, I’ve always had a strong entrepreneurial drive, and when I discovered matched betting to fund my studies, it quickly became clear to me there was a much bigger opportunity here.”
Sam launched his company on a shoestring budget straight out of university, and with marketing at the heart of his early success, many of the skills he picked up during his degree proved incredibly relevant.
“A lot of the success of Outplayed came from the content that I created, particularly the sales and marketing videos used to promote the product. I was often in front of the camera, then editing those videos into polished content. Even today, a huge amount of marketing success is around content creation, so being able to operate a camera, use good lighting, and have sound and post-production skills are key.”
Sam understood early on the importance of building a brand and using it to engage with Outplayed’s growing customer base. He says, “I put my face to the brand because I think people resonate far more with other people than they do a faceless corporation. I came across as authentic and sincere in our marketing videos because I truly believed in what I was saying, and that went a long way with people.”
Technology has played a huge role in Outplayed’s history and success. Sam initially taught himself some basic coding skills when launching the platform, and he continues to ensure the business responds to new developments in technology and to market trends.
“It’s a very rapidly changing industry, with the profitability of matched betting being dependent on what bookmakers are doing. Our offers team look for bookmaker promotions that give financial edge to our customers, and once we discover a new strategy that our users can profit from, it’s a case of figuring out a way to make it as easy as possible for them, which normally requires coming up with new software. I am very involved in this process and like to be in the details.”
Sam explains how he has direct input on designing new software, often designing a basic layout with a pen and paper before it goes to a designer to polish up.
“Once we have a final version, I’ll designate the broad strokes of how we’ll market the product before handing it to my team to implement. We’re very good at experimenting with new things, and I firmly believe in failing quickly. Get an idea, test it, if it works – great, but if not, revert and try something else. The key is to do this faster than everyone else.”
While not technically gambling, matched betting can be a controversial area, and Sam talks about the challenges of overcoming that stigma:
“Advertising on Facebook and Google was very difficult in the early days because they associated us with gambling content and said we needed a gambling license – which was not true. For the most part, it’s just a case of overcoming that initial scepticism and then educating people – whether that’s customers or service providers or even financial institutions – about how traditional gambling is foolish, and it’s much better to place a smart bet with a guaranteed return.”
With more people becoming aware of matched betting as a viable means to supplement income, Sam cites this sense of community around the brand as one of the things he is most passionate about.
“I am driven by the stories of our customers. We have a Slack channel dedicated to posts that our members have made about how their lives have been improved by our services. There was a post last week from someone who has managed to get their first home at 22 years old using their profits from matched betting as a deposit. A lot of our customers share some surprisingly personal stories that are really quite moving. Being able to measurably improve someone’s life is what really motivates me.”
With Sam having pursued his business straight out of university, and the launch of Outplayed.com involving him working in excess of 100-hour weeks to get it off the ground, he remains dubious of many business ‘gurus’ recommending 5am starts, meditating and journalling, along with a host of other ‘musts’ to be successful:
“I haven’t found any of that to be the case. For me, the only thing that matters is that you are relentlessly dedicated to the success of your business. It should be the first thing you think about when you wake up in the morning, and the last thing on your mind before you go to sleep. Being endlessly curious, always learning, and always striving for more is key to achieving success. Do that, and everything else will just fall into place on its own”.
