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Betable raises 18.5 Million in start up capital

Wednesday November 6,2013 : BETABLE RAISES $18.5 MILLION IN NEW CAPITAL
 
Venture capitalists are betting on a bright future for online gambling.
 
Betable, a London-based startup providing real-money gambling tools to game developers, raised $18.5 million in a round of funding led by Venture51, Christopher Griffin, Betable’s chief executive officer reported this week.
 
Previous backers Greylock Partners and Founders Fund also contributed to the round, which brings Betable’s total financing to $23 million.
 
Betable provides software code that plugs into a game and enables betting, freeing developers to focus on the look and feel of the app without worrying about the hassles that go along with real-money wagering, such as payments, fraud detection, regulatory compliance and complex math modeling.
 
Figures from research company H2 Gambling Capital probably influenced some investors, predicting that online gambling will be a $43.3 billion market by 2015, up 28 percent from last year, with much of the growth expected to come from major international land casinos.
 
Moves toward online gambling legalisation in some US states has also encouraged optimism as Delaware, New Jersey and Nevada have all gone online, with more states actively considering the possibilities and California, Pennsylvania and New York possibly joining the roster next year.
 
Griffin wants to see more innovation and a move away from traditional casino games and sports as a source for betting. He suggests that there are legions of smart phone users out there who are not experienced gamblers, but would like to take a flutter on, for example a virtual hot rod race in a iPhone driving game.
 
He also points to developer 3OAK's "Battle Keno" as an ingenious mobile adaptation of the classic “Battleship” game where choosing where to strike an opponent on a grid of 81 squares earns the player money and taking direct fire costs the player money.
 
The Wall Street Journal reports that venture capitalists are betting on a slew of young startups in the development sector. SGN, a mobile game startup led by MySpace co-founder Chris DeWolfe, has raised more than $25 million from investors, and is developing its own casino games, the Journal notes, whilst Bee Cave Games,  a startup created by former Zynga executives Erik Bethke and Jeremy Strauser, raised $1.3 million in July from VCs including Matrix Partners .
 
The gaming industry-experienced team at Betable - it boasts veterans from Zynga, Electronics Arts, Microsoft, and other game giants - has attracted positive responses from venture capital investors. The team’s know-how and relationships will help Betable as it seeks to expand, says Ryan Swagar, co-founder of Scottsdale, Arizona-based investor Venture51, who comments:
 
“They’ve assembled this team that can disrupt this regulated industry.”



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$400k Winner at Bodog Casino - To win, you need to get a pair of Tens or better. Jerry K., however, got a much higher hand than the minimum; he pocketed $397,879 after landing the game’s best possible hand: a royal flush.

NBA : Warriors Win the West; NBA Finals Next - The Golden State Warriors will play in their third-straight NBA Finals. They completed their sweep of the San Antonio Spurs Monday night, rolling to a 129-115 victory as 12-point road favourites; Golden State opened the season as a –250 chalk to win the Western Conference.

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NHL Odds: Lone Canadian Team Plays on Friday - “Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.

NBA Odds: Will Cavaliers Be Rusty in Game 1? - The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.

4 New Microgaming Releases in May 2017 - Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.

PKR Company Statement Update - Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.

Microgaming Wins The Spark Award 2017 - The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.

NHL Predators First Ever Conference Finals Appearance - With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.

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