Joseph Saumarez Smith

Last updated

Joseph Saumarez Smith
Born29 September 1971
London, England
Education Winchester College
Alma mater University of Bristol
Wharton School of the University of Pennsylvania
OccupationBusinessman
SpouseWanda Saumarez Smith
Children2
Relatives William Saumarez Smith (great-great-grandfather)

Joseph William Saumarez Smith (born 29 September 1971) is a British businessman, journalist and gambling expert. He is Chair of the British Horseracing Authority, the chief executive of Sports Gaming Ltd, a gambling management consultancy, chairman of gambling platform developer Bede Gaming and an investor in numerous online businesses.

Contents

Early life

Joseph Saumarez Smith was born on 29 September 1971 in London, England.[ citation needed ] His paternal great-great-grandfather, William Saumarez Smith, was the Archbishop of Sydney in the 19th century.[ citation needed ]

Saumarez Smith was educated at Winchester College and then at Bristol University, where he gained a first in politics and edited Epigram, the university newspaper.[ citation needed ] He has an MBA in Management, Strategy and Marketing from the Wharton School of the University of Pennsylvania where he was the recipient of a Thouron Award and also studied at London Business School as part of Wharton's International Exchange Programme.[ citation needed ]

Career

Journalism

After university, Saumarez Smith worked at South West News Service, the Bristol-based press agency, and the Sunday Telegraph, as a general news reporter. In 1995, he was appointed education correspondent of the Sunday Telegraph, subsequently becoming their transport and industry correspondent. In 1996, he moved to Express Newspapers as education editor of the Daily Express and the Sunday Express. In 1997, he was appointed deputy political editor of the Sunday Express, working alongside Peter Oborne, Simon Walters and Richard Addis. Saumarez Smith left the Sunday Express in 1999 to study for an MBA.[ citation needed ]

Saumarez Smith broadcasts about gambling. He has had regular columns published in the Financial Times . [1]

Gambling

Saumarez Smith started gambling at the age of eight when Mike Fitzmaurice, a maths master at his preparatory school, started teaching fractions using betting odds. He attended his first race meeting at the age of 12 at Sandown Park, where he opened his first credit account with rails bookmakers Heathorns.[ citation needed ]

In 2001 he founded Sports Gaming, a management consultancy to the gaming industry. He has worked as a consultant to many of Europe and Asia's leading gambling companies and has advised on several major M&A transactions in the online gambling industry. He was founder of BetUK.com, which was sold to Canadian private equity investors in 2007. Sports Gaming is the publisher of numerous gambling information sites, including BetAsia.com and IndiaBet.com. He is chairman of Bede Gaming, [2] a developer of gaming platforms used by online and land based gaming operators.

In June 2003 he acquired Vegas Insider, [3] the leading gambling information site in the United States. He sold the site to American investors in 2007.

Saumarez Smith is credited with inventing the gambling term Asian handicap. [4]

Horseracing

Saumarez Smith has been a lifelong follower of horseracing, and has visited more than 200 racetracks worldwide. He was on the 1991 Jockey Club Graduate Programme, and placed at the Racing Post , where he wrote news articles and Spotlight form commentaries. In December 2014, he was appointed a non executive director of the British Horseracing Authority, the regulator of UK horseracing. [5] In March 2022, it was announced that he would take over from Annamarie Phelps as Chair of the British Horseracing Authority, [6] and in December 2022 it was announced that his term had been extended by racing's shareholders until 2025. [7]

He has shares in several horses which are trained by Martin Keighley. [8] Saumarez Smith has previously had horses in training with Henry Candy, Ed Dunlop, Kris Lees, Ed Walker, Ilka Gansera-Leveque, David Pipe, Ali Stronge, and Archie Alexander in Australia.

Business interests

Saumarez Smith was the co-founder and chief executive of Schoolsnet, an online education company, from 1999 to 2001. Schoolsnet was sold to Hotcourses in September 2003. [9]

Saumarez Smith is an investor in numerous Internet start ups. Successful investments include the sale of IPS to Leo Vegas in February 2018 for £65 million, [10] the sale of luxury cycle clothing company Rapha to RZC Investments for £200 million in August 2017 [11] and the sale of a majority stake in Bede Gaming to the Gauselmann Group in March 2020. [12]

Honours and patronages

Saumarez Smith was named Commodore/Sunday Times Young Computer Brain of the Year 1985. He was also named one of Management Today's Young Meteors in November 2000. [13]

He finished as runner up in the 1994 World Series of Poker media event [14] and was introduced the next year as the "reigning champion", as the actual winner, Bill "Bulldog" Sykes had died in the meantime. Saumarez Smith completed the 2011 Etape du Tour Act I cycling race from Modane to Alpe d'Huez in 4,158th place, [15] the 2014 La Marmotte cycling race in 4,133rd place, [16] and the 2015 Maratona dles Dolomites in 3,878th place. [17]

He has been a patron of the Ben Kinsella Trust since September 2018. [18]

Related Research Articles

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References

  1. ↑ "FT.com / Business education - Will my bet pay off?". www.ft.com. Archived from the original on 23 January 2013. Retrieved 2 February 2022.
  2. ↑ "About Bede". bedegaming.com. Archived from the original on 31 March 2014. Retrieved 31 March 2014.
  3. ↑ "Week in Review – South Florida Business Journal". Bizjournals.com. 30 June 2003. Retrieved 10 January 2012.
  4. ↑ "Story of asian handicaps". Asianhandicaps.eu. Retrieved 15 February 2017.
  5. ↑ British Horseracing Authority. "BHA makes new board appointments". BritishHorseracing.com. Retrieved 11 December 2014.
  6. ↑ The Guardian (8 March 2022). "BHA chair Phelps makes surprise decision to quit on eve of Cheltenham". TheGuardian.com. Retrieved 8 January 2023.
  7. ↑ British Horseracing Authority (20 December 2022). "Joe Saumarez Smith's term as Chair of the BHA extended". BritishHorseracing.com. Retrieved 8 January 2023.
  8. ↑ "BHA Public Register of Board interests" (PDF). BritishHorseracing.com.
  9. ↑ "Hotcourses Education guides and publications – Schoolsnet". Hotcourses-solutions.com. Retrieved 10 January 2012.
  10. ↑ "Leo Vegas enters into agreement to acquire rapidly growing UK casino operator" (Press release). Globe News Wire. 12 January 2018. Retrieved 10 September 2018.
  11. ↑ "British cycling brand Rapha sold to Walmart heirs for £200 million". The Guardian. 7 August 2017. Retrieved 10 September 2018.
  12. ↑ "Gauselmann Group acquires majority stake in Bede Gaming". SBC News. 12 March 2020. Retrieved 26 March 2020.
  13. ↑ "Coming up fast: Young Meteors – Joe Saumarez Smith, Schoolsnet – Leadership, business and management news, tips and features from MT and Management Today magazine". Managementtoday.co.uk. 1 November 2000. Retrieved 10 January 2012.
  14. ↑ "25th World Series of Poker - WSOP 1994, Press Invitational No Limit Hold'em". The Hendon Mob. Retrieved 24 December 2023.
  15. ↑ Saumarez, Joe. "Etape 2011 Acte 1 ride report – Modane to Alpe d'Huez". Sportive.com. Retrieved 10 January 2012.
  16. ↑ Saumarez, Joe. "Marmotte 2014 ride report - good start, slow finish". Sportive.com. Retrieved 11 December 2014.
  17. ↑ Saumarez, Joe. "Maratona dles Dolomites 2015 ride report - Hot, Long and Incredibly Tough". Sportive.com. Retrieved 27 April 2016.
  18. ↑ "Patrons of Ben Kinsella Trust". Ben Kinsella Trust. Retrieved 10 September 2018.
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