This week: No-code platforms are gaining traction in real-money gaming sector

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Waterhouse VC backs Spinlab Studio’s no-code platform

The news: Waterhouse VC has secured a three-year option to acquire an interest in Spinlab Studio, a no-code iGaming platform that bundles payments, compliance, casino content, and backend infrastructure into a single product. Since its launch in January 2026, Spinlab Studio reports around 30 operators are already on the platform, with tiered SaaS-style pricing starting around $1,299/month.

Zoom in: Co-founder Leon Lanen says the company wants to speed up time to market for operators and smooth out an operational process which is “still too complex and expensive.” Lanen says Spinlab Studio wants to “do what Shopify did to E-commerce, for the iGaming industry.”

Why it matters: Launching a real-money gaming brand has long meant piecing together separate agreements for payments, content, compliance, and platform management—a long process requiring significant technical resources. That's starting to change with an oncoming wave of no-code and low-code platforms that circumvent engineering bottlenecks (automation platform Flows) or lower the barrier to entry altogether like Spinlab. The broader trend points toward a more democratized supplier landscape, where the ability to launch and iterate no longer depends on budget or headcount, and smaller or newer operators can compete on execution.

FastDraft, FantasySpin merge to serve the 60M fantasy players sportsbooks left behind

The news: FastDraft and FantasySpin have merged into a single company under the FastDraft name, with FantasySpin CEO Steve "Dakota" Happas leading the combined business and FastDraft founder Matt Kelley serving as president. The deal expands their combined footprint to 38 U.S. states and Canada, pairing two operators that together booked more than $1M in contest entries in their first year. A new seed round for the combined business is launching shortly.

Zoom in: Kelley was candid about the strategic intent on The BettingStartups Podcast: "We're not building a Trojan horse app that says it's fantasy, but it's actually betting." The merger's first integration priority is a unified wallet so users can deposit once and play across both apps, followed by expanding into NBA, F1, and Premier League contests and bringing FantasySpin's real-money DFS into more markets.

Why it matters: As DFS incumbents like DraftKings, FanDuel, and others continue shifting attention and resources toward sports betting, and now prediction markets, the fantasy-first audience of 60M+ North Americans has been largely deprioritized. FastDraft and FantasySpin are making a deliberate bet that recommitting to that core audience—rather than just using fantasy as a customer acquisition funnel—is a viable path to building a standalone business. If they're right, it signals there's still real market share available for operators willing to stay in their lane.

We dug in deeper on the merger with Kelley here, or listen to the full podcast on YouTube, Spotify, and Apple Podcasts.

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ChatBet expands WhatsApp-based betting to LATAM

The news: ChatBet has launched version three of its platform, bringing a WhatsApp-based betting experience to operators across Latin America. The B2B tool sits on top of existing sportsbook infrastructure and lets bettors place wagers by texting or sending voice notes in natural language, including slang and colloquialisms.

Zoom in: Early results from the v3 rollout are notable: a 2x lift in conversion rate and a 22% increase in average revenue per user, while Founder Josh Swerdlow says results reflect a change in consumer habits: "Users are already expressing betting intent conversationally. This shift is turning that intent into a structured, compliant bet in real time."

Why it matters: WhatsApp commands at least 75% market penetration across key LATAM markets like Argentina, Mexico, and Colombia—meaning operators aren't building a new behavior, but meeting one that already exists. If conversational interfaces become a core distribution channel, it changes how operators think about acquisition and retention: less app, more messaging thread.

Read more about ChatBet and Swerdlow’s big bet that “web betting is dead” from our conversation in December.

News, money, and alpha 🗞️

• Third Planet Media founder Adam Small shared his advice for gambling affiliates ahead of his appearance on the "What Gets Funded and What Gets Bought" panel at SBC Summit Americas.

• Defy The Odds is hosting an “Ask Me Anything” session with Connor Williams from Offsuit VC on May 19. RSVP here.

• Blitz Analytics has named Dick Glover executive chairman to lead media partnerships for the AI-powered sports data startup, which uses AI agents to query NBA, MLB, and NFL data in real time for broadcasters, sportsbooks, and consumer platforms.

• Rithmm has launched WNBA coverage on its platform, adding player props, game predictions, and model-backed insights for the league.

Great gigs 💼

Big opportunities with awesome growth-stage companies, brought to you by BettingJobs.

• 4C Software is seeking a Founding Mobile Engineer to own the architecture and buildout of its React Native mobile app for a prediction markets platform. Chicago, IL (hybrid). (View job)

• XO Sports is hiring a Mobile Developer to build out its AI-powered sports analytics platform. Melbourne/Manila (hybrid). (View job)

• ALT Sports Data is hiring a Vice President of Finance to build and lead the company’s financial engine from its Toronto office. (View job)

From the studio 🎙️

Catch up on the latest episodes of The BettingStartups Podcast.

• Building DFS to prioritize "less spreadsheets & more friends" w/ Matt Kelley from FastDraft

• Building the "aspirin" for casino game distribution headaches ​​w/ David & Kavin from Hydrastack

• Digitizing the Super Bowl squares concept w/ Nathan & Brett from Grid Gorilla

You’ve made it to the end of the newsletter—seems like you should probably subscribe if you haven’t already.

Are you a startup in real-money gaming looking to announce a new product launch, partnership, or funding round? Get it on our radar! Email: [email protected]