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CashBet Raises 1.7 Million in Capital
Monday February 3,2014 : REAL MONEY GAMBLING APP DEVELOPER RAISES $1.7 MILL IN CAPITAL
CashBet to use the money to build a platform for use by social and mobile game developers.
Oakland, California-based CashBet has raised $1.7 million in angel funding for its plans to build an Alderney-licensed online gambling platform that enables developers to bring real-money gambling into their social and mobile games.
In similar fashion to San Francisco-based Betable, the idea is to free up game developers to get on with what they do best, leaving the complex business of sorting out player registration, regulatory compliance, AES encryption security, anti-fraud operations, age and identity verification, and banking to a purpose built platform.
FWH Holdings and private investors are the main funders in the current round, reports VentureBeat, noting that Cashbet has already achieved licensing by the Alderney Gambling Control Commission to develop its online gambling platform for deployment in Europe.
Cashbet recently inked a partnership content agreement with California game developer Gamzio Games and has been in existence for just over a year. It raised $200,000 in its first round of financing and currently employs seven people.
CEO Mike Reaves has previous experience with CyberArts and MondoBox, VentureBeat reports, adding that the company is currently in private beta testing, with its software development kit available to HTML5 and iOS developers.
Reaves said that his goal is to build a trusted brand for mobile game developers, and bridge the gap between social/mobile play and online gambling.
Gambling News :
$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.
PartyPoker Rakebak -
Partypoker brings back rake back for players. All new ‘partypoker weekly Cashback’ launches.
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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