📁 Show Notes
Ep. 168 features Davis Catlin from Discerning Capital, which invests at the intersection of betting, sports, media, and technology. This episode was recorded on-site at SBC Summit North America 2025 in Fort Lauderdale.
Hear him discuss:
- Why starting Discerning Capital gave him new empathy for founders
- Building a deal-by-deal investor network in a regulated industry
- The playbook behind their first investment in Australian operator Picklebet
- Why Midnite is a “challenger brand” winning with faster paybacks
- How SlotCycle is unlocking a hidden market for used slot machines
- The opportunity in underinvested profit pools in Australia and the UK
- His high-level thesis on the total addressable market nearing $100B
- How the capital flow into sweepstakes models may be slowing
- Prediction markets like Kalshi and the regulatory gray zone they face
- What a Bet365 acquisition could look like—and why DraftKings might care
- Why Discerning Capital is launching a new program for user acquisition/growth financing
- How it works: non-dilutive revolving credit tied to ad performance
- Why it's a win-win model for operators with strong unit economics
Catch the video version of this episode https://youtu.be/XBMteTy4xww here
Learn more 👇
➡️ Discerning Capital https://www.discerningcap.com/ website
➡️ Davis Catlin https://www.linkedin.com/in/davis-catlin-b204122a/ on Linkedin
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