Several months back, I met George Giannukos and Thomas Marriott, local entrepreneurs from Texas A&M who started a new gaming venture called GameWager. GameWager is an online, matchmaking platform that enables members of all skill sets to win cash/fun prizes & recognition competing in the most popular PC games online. They host pay-to-play (poker style), cash prize tournaments where the entry fees are distributed to the winners in structured payouts and free, token-based (arcade style) tournaments where gamers collect more tokens as they win; all of which can be turned in to their “Reward Zone” which will be full of prizes.
I cannot go into too much detail as this site has not launched yet but from what I am aware of, they have assembled many well respected names in the gaming industry as partners to make it easier to play with friends and offer a secure & fair gaming environment online. The addition of friendly wagering on one’s own performance adds a unique element to the game play which should make their model interesting to watch.
I had a chance to talk with Thomas Marriott recently and here are some excerpts from that conversation:
Josh: Gaming is a huge market. Why haven’t we seen someone succeed with this business model so far?
Thomas: The market size and opportunity are undeniable. However, it’s a tough nut to crack. There have been some fantastic attempts and we can attribute varying factors to the failure of each; from their twist on the model itself to strategy and execution.
Josh: I saw you guys present at the Houston Angel Network. Excellent job! You’ve been very successful in getting funding to date…to what do you attribute that to?
Thomas: Thanks! Although we’re gamers, we further buried ourselves in the industry and paid close attention to competitors failed attempts. As a result, we have taken an extremely methodical approach entering this space - spending a considerable amount of time conducting due diligence, assembling a rock star list of advisors and securing interest in the gaming community. Our efforts created results and that was key to investors.
Josh: Has being in Houston been a plus or a minus so far?
Thomas: As with anything, there are pros & cons - so I can’t say overall its been either. Austin and Dallas are some of the most vibrant gaming communities in the world, the quick drive to them as been invaluable for conferences, networking and business development.
Josh: Do you think you’ll be able to stay in Houston as you grow? What issues do you see going forward?
Thomas: I’m afraid the need for capital and better valuations will pull us out West - we’ll see how things go. For what its worth, we prefer to stay in Texas and will be back if relocated!
Josh: Anything you’d like to add?
Thomas: You guys are doing a great job with Startup Houston…efforts like these will allow startups to stay in Houston longterm!
Also, if anyone in and around Houston (or just passing through) wants to get together to discuss business, entrepreneurship, gaming or anything else we have in common, feel free to each out. We can be reached on LinkedIn, Facebook or GAMEWAGER.net
Thanks guys!
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