Executive director Gary Crispe, CEO Stephen Crispe and CFO Tim Olive lead the management team at Racing and Sports Technology Holdings. Photo: Michelle Kroll.
It’s a warming success story – two Canberra guys and a dog sharing a downstairs apartment in Chapman design an innovative offering that leads to massive success in the global market.
Founded in 1999, Racing and Sports changed the thoroughbred racing industry forever when it leveraged online technology and brought the live racetrack to spectators thousands of kilometres away.
Pioneering the wholesale of online racing data and content, Racing and Sports quickly secured a foothold in the Australian market, soon venturing into neighbouring countries and further afield.
According to executive director Gary Crispe, it’s only taken 25 years to become an overnight success.
“We became known as one of the first companies to put race replays on the internet, and were the first to livestream racehorse sales,” Gary says.
“The world was still in the early stages of the internet then, so the concept was largely unheard of in the public sphere.
“Being able to watch sales live from across oceans was a huge revelation.”
These days Racing and Sports is one of the biggest names in the game, bringing together the best in data, technology and content in a full-service offering for the global racing and wagering industry.
If you’re looking to follow in the team’s footsteps, Gary says be prepared to give up weekends for the foreseeable future.
“If you want to expand internationally don’t expect to be working eight-hour days or five-day weeks,” he says.
“Being successful in business is hard – being successful across borders is backbreaking, but if you do it right the opportunities are incredible.
“You have to be resilient, level-headed, and available to work across time zones according to different cultural norms. It’s a lot of work and can burn you out very quickly if you’re not prepared.”
A strong, reliable network is essential. Business partners are the foundation of a good support system, help make your business more visible, and build credibility by association.
“Getting your brand out there is far more effective if it happens organically,” Gary says.
“A good network is filled with a range of industry peers with different backgrounds, businesses, opinions and expertise.
“These connections are a great resource to call upon when things don’t go your way and let you share ideas, issues and successes with like-minded people. No matter what you do, don’t burn those bridges.”
But don’t throw in your lot with just anyone. Racing and Sports CEO and Gary’s son, Stephen Crispe says it’s important to choose the right partner for the job.
“When it comes to closing deals and growing in the international sphere, if you’re not in the room, you’re not in the conversation,” he says.
“In the event that you can’t be there, you must be able to trust your team to represent the business and communicate your goals.
“Think about why you’re doing what you’re doing and if it doesn’t align with your goals, don’t be afraid to make well-considered changes.”
Stephen’s final advice is to avoid taking on too much too quickly. To rise to a position like Racing and Sports, your business must have the knowledge, skill, product and relationships to succeed before making the leap.
Racing and Sports successfully listed on the stock exchange in 2021 and is enjoying the next iteration of its life as an ASX-listed company.
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