[1] For four years Waterhouse lived in Melbourne's Crown Casino for most of the week due to the protectionist betting laws in NSW.

In August 2013 website was sold to the international betting giant William Hill (bookmaker) where Waterhouse then continued as Managing Director of TomWaterhouse.

The aggregator will compare odds across several corporate bookmakers and allow customers to place bets with the wagering operator of their choice.

The fund is "almost completely focused on buying gambling or wagering services stocks listed on the ASX or around the world.

"[10] It targets businesses that provide a critical service with a defensible operational moat, which are well-positioned to benefit from high growth within a specific area of gaming and wagering.

[11] Waterhouse VC has a particular focus on US companies, with "US states (are) quickly opening up and allowing online betting for the first time after decades of it being banned outside casinos, resulting in a stampede into the market.

His mother, Gai Waterhouse (maiden name Gabriel Marie Smith) is a leading Australian horse trainer, businesswoman, and a former actress.

They have attracted controversy in the past including the loss of their bookmaker's licences for eighteen years (originally life bans) due to their involvement in the Fine Cotton substitution scandal in 1984.

Waterhouse is a regular guest on 2GB with Alan Jones on Friday mornings during Autumn and Spring to discuss racing and sports.

[16] At the 2013 Sydney Cup day on 27 April at Randwick Racecourse, John Singleton fired Gai Waterhouse (Tom's mother) as the trainer of his horses amid allegations that Tom Waterhouse gave acquaintances inside information that Singleton's horse More Joyous was unfit to win the All Aged Stakes.