Innovation, Support, and Diversity in iGaming: Insights from Sue Schneider

Challenges Faced by Underrepresented Founders

Sue reflects on her efforts with Defy the Odds, a company she co-founded to support minority and female founders in iGaming. She emphasizes that historically, the industry has been dominated by a narrow group, and underrepresented groups, particularly women, have had limited visibility in leadership roles. While the situation has improved over the years, she believes there is still much work to be done to ensure that diverse voices are encouraged and supported, especially in startups and innovation.

Supporting Talent from the Start

The issue of talent acquisition in iGaming remains a challenge, particularly when it comes to gender diversity. Sue highlights that while the industry is still predominantly male, there are growing efforts within organizations to recognize the value of diverse talent. She suggests that leadership must play a key role in opening up opportunities, and HR departments should actively work to expand their search for skilled individuals. It’s about educating leaders that talent exists beyond the traditional networks and ensuring that underrepresented groups have an equal opportunity to succeed.

Impact of Women in Leadership Roles

Sue is encouraged by the increasing number of women in leadership positions in iGaming. She shares the success of her informal networking group, CEOs (formerly “Lady Bosses”), which connects female executives in the industry. From this initiative, Sue has seen the growth of a powerful support network that empowers women in leadership. Beyond internal company dynamics, women in leadership are influencing how businesses approach customer engagement, particularly by considering more diverse customer bases and offering more tailored experiences, especially for women bettors.

Role of Support Ecosystems in Enabling New Founders

Sue discusses the critical role of support ecosystems for new founders in iGaming, particularly tech incubators and accelerators. She notes that while these support structures are still limited in the iGaming sector, initiatives like Xero Labs in Las Vegas are providing valuable support to early-stage startups. Sue hopes for further growth in these support networks, as they are vital to helping entrepreneurs navigate the complexities of the industry and gain access to mentorship and resources.

Making Space for New Perspectives

To foster innovation, Sue believes that established leaders need to create space for new ideas. This involves developing structures within companies to encourage internal innovation and the exploration of new business models. She also advocates for partnerships between larger organizations and startups, noting that innovation is often sparked when both sides collaborate. Leaders must actively seek and cultivate fresh perspectives to stay competitive and ahead of market trends.

The Future of the iGaming Industry: Hope for a More Collaborative Environment

Sue shares her optimism for the future of iGaming, particularly the role of organizations like Defy the Odds, which bring together founders, investors, and industry experts. The goal is to build a more collaborative environment where ideas are exchanged freely, and diverse voices are heard. Sue is excited by the energy of new founders and is hopeful that this spirit of collaboration will shape the future of iGaming.

Mentoring and Supporting Founders

Sue finds mentoring new founders to be one of the most rewarding aspects of her career. Drawing from her own experiences, she helps new entrepreneurs understand the history and evolution of the iGaming industry, which she believes is crucial for building sustainable businesses. Founders often seek guidance on how to navigate the challenges of the industry, and Sue provides them with insights based on her decades of experience.

Overcoming Industry Stigma

Sue acknowledges that iGaming still carries a stigma, particularly when it comes to its association with gambling. She believes that this perception needs to be addressed through better public relations and transparency. For those who feel the industry isn’t built for them, Sue advises that they engage with people already in the industry to understand its true nature. While it can be a high-risk environment, she believes that the iGaming sector also offers significant opportunities for those willing to take risks and contribute to its growth.