Property mogul Nick Candy appears to be gambling on a change of investment strategy by investing in a new start up site for amateur gamblers called Betconnect.
Candy’s investment comes just weeks after the failure of another business he had invested in – the augmented reality app Blippar, which had applications in the property industry. However, it has been reported that Candy may buy out the business from the administrators.
Betconnect, now in beta version, describes itself as ‘the world’s only social betting platform’ which gives amateurs access to the bets of professional gamblers. They say that they send clients daily personalised bets direct from ‘pros’ for them to match with their own bets. It appears to be a tech version of the telephone-based tipping hotlines that were widespread before the digital boom.
As a successful property tycoon Candy no doubt considers a wide range of other investment opportunities too. However, other property investors might wonder whether they should ‘take a tip’ here – and whether this investment means Candy sees more future potential in gambling than in property.