Following the exciting launch of Defy the Odds, a startup launchpad aimed at helping entrepreneurs connect their innovative ideas with real opportunities, we spoke with iGaming industry powerhouse and co-founder, Paris Smith.
Paris shares her insights into the venture founded alongside industry legends Kelly Kehn and Sue Schneider, whilst revealing the inspiring story behind Defy the Odds, the most interesting pitch they’ve received to date, and the invaluable advice Paris would give to any entrepreneur starting out in the sector.
Q1. How did the founders of Defy the Odds connect?
I’ve known Sue for 29 years. Sue was instrumental in setting up a lot of conferences at the very beginning of the industry, which clearly took off nicely, so I knew her from that. Ironically, back then, most cases at dinners and events, there were very few women in attendance. However, the two women most people knew was Sue and I, so we naturally became close friends throughout the years. We were introduced to Kelly around 10 years ago. Kelly came from the operational side of the industry, bringing a strong and valuable background in that area. Kelly became actively involved in conferences and with All-in Diversity, also working with HappyHour. We’ve known each other forever, and I have used Sue and Kelly as my sound boards and support system for the last 29 years.
Organically, we were in Curaçao, and Sue and Kelly were helping me with my current project. Naturally, it came to ‘between our combined network and connections, our passions for the industry, and our desire to help people, maybe we should do something’, and that’s where Defy the Odds was born. The meeting wasn’t originally intended for that purpose, but it naturally evolved in that direction. Each of us had been working on our own projects and were helping others in our own ways. I’m focusing on angel investing, while Sue has been a strong advocate for supporting new startups entering the industry. They have both been instrumental in shaping the conferences and creating a supportive environment for startups. There are many individuals in the industry who have amazing ideas but struggle to navigate the process of bringing them to life. We recognised this challenge and saw an opportunity to create a business model around it.
Q2. Can you share the story behind Defy the Odds and how you identified the need to provide such support?
We had the meeting in Curaçao, and it’s always an interesting blend between the three of us. Because I have received such phenomenal support as a woman, I sometimes lose sight of the challenge. However, Sue and Kelly always made me very aware of anyone marginalised in any shape or form, whether it be a young kid with a great idea in college that no one listens to, or others facing similar struggles. It’s evolved, and we want to be part of that evolution, ensuring everyone has the opportunity to innovate and succeed in this ever-changing market.
To expand on the point about the synergy between the three of us; we’ve all had very long careers and it was about being in a space where we are all very comfortable. We’re all aligned, we really enjoy each other’s company, and to work with close friends like this really is a luxury.
Q3. Anyone who has the opportunity to collaborate with you will be lucky to do so. What are you therefore hoping to gain in return from your partners?
There are several different commercial options. It’s really based on the scenario, the situation, and the stage in which the entrepreneurs are at, but I think that’s just a normal process for the industry. However, we want to be fair and provide real support to people. We’re truly dedicated to helping them succeed. While it’s true that not every idea is a great idea, if we can provide guidance, mentorship, and help people pivot when necessary, we can ultimately reach solutions that benefit the entire industry.
Q4. What is the most interesting pitch you have received so far, and what would you love to see in those who approach Defy the Odds?
That’s a tricky question, mainly because we’ve had so many submissions that we haven’t had the chance to sort through yet. But there is one group in particular called SharpStakes that were working with. SharpStakes consists of a younger group of gentlemen from Canda that have an amazing product, and they are a really strong group of people. They build sports betting tools for Gen Z using statistics and AI to allow bettors to be informed and confident. When I invest, I look for ‘hungry, humble, smart, and passionate’, and these guys ticked everything off. For me, this is currently the most interesting pitch.
Q5. Your mission is to provide support to entrepreneurs in the sector. Do you have any tips on how we can collectively help others who are starting out in the iGaming industry?
I think listening to people’s ideas and just being honest is so important. When I’m at a conference, a lot of people ask me for advice which I love. However, sometimes people need to hear things that aren’t easy, and they don’t realise how crucial it is to be honest and provide the right feedback. This helps them understand when and how to pivot if necessary. For example, I’ll talk to someone who was told their product is amazing, but after our conversation, it’s clear that while it has improved, it’s not quite there yet. There’s often a disconnect, and offering genuine, authentic support is key – even if not everyone wants to hear it. That’s one approach.
I would also emphasise the importance of identifying key issues. Right now, there are so many ideas in the space, but are entrepreneurs truly focusing on the real problems? I ask this because there are so many ancillary products in sportsbook and casino businesses, yet the core issues remain. If you attend a conference or read the real pressing points, you will see this is regulatory compliance and responsible gaming.
Q6. What advice would you give to an entrepreneur who is considering starting a new business within the iGaming industry?
You must be passionate about what you are creating. Most of the time, sports equals passion. Also just being able to really look at where the solution you are creating fits within the ecosystem. Of course, you must ask the questions ‘is it B2B? or is it B2C?’, ‘is this something that’s easily integratable?’, ‘do people need it?’. That’s the biggest points. When you’ve got a phenomenal idea and you then go out and talk to people, it’s not always there. We have partnered up with ‘ZeroLabs’ for example. They are there to speak with entrepreneurs and help them understand what they have, where they fit within ecosystem, and the way they present themselves. They do this because building a product doesn’t make you a business leader, so they help guide and support people in these areas. UNLV also does amazing work for students and different business ideas. I think those types of opportunities that allow entrepreneurs to test what they’ve got by putting it in front of somebody that’s there to support and help them is key. There is a lot of investors that do a bit of that just by nature such as Benjie Cherniak, Chris Grove, Lloyd Danzig, David Sargeant, Adam Rosenberg, Davis Catlin, and David Williams – all these guys are my mentors within the investment world, and they have been instrumental in providing top level support for entrepreneurs.
Another vital piece of advice is to truly understand the industry. Attending conferences is an excellent way to do this; they offer endless opportunities to connect with other likeminded individuals. It’s likely you will encounter a few people working on similar projects as you, but that’s perfectly fine. Secondly, remember you must have the ability to approach people – you have nothing to lose here. If you’re attending a conference, don’t hesitate to walk up to a panellist and introduce yourself.
From an advisory / consultancy point of view, one of Defy the Odds key goals is to guide individuals and help them navigate through this industry. As challenging as it already is, imagine being a young woman with a brilliant idea, or someone from another country trying to navigate a new environment. Whatever the situation may be, we can offer invaluable advice, provide essential guidance, share tips on who to connect with, what steps to take, and how to help individuals reach their goals. I think that’s really one of the core points of Defy the Odds. One of the most endearing parts of the industry is the fact that everyone is eager to help one another, which is why we love it!
Q7. Where do you see Defy the Odds in 5 years?
At Defy the Odds, our goal is to be a critical part of the ecosystem from a networking perspective. We only just started out a couple weeks ago, and people are already requesting different verticals within the organisation. We’ve got the support of our cohorts, and the support of different management and leadership. The reality is when something does grow as I mentioned earlier, you can be a phenomenal builder of a product, but what about being a great leader of a product? So, we really are just aiming to ensure we support all relevant resources in the ecosystem to create success, and that we can give people the right solutions to help maximise their success.
We’d like to extend a heartfelt thank you to Paris Smith for joining us in today’s edition of BettingJobs News. We’re so excited to witness the trajectory of Defy the Odds and we wish you all the success in the world.
