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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 :
US$30M DUBAI WORLD CUP -
Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines
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The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.
NBA Odds: Hawks, Wiz in Southeast Showdown -
The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.
NBA Odds: Clippers Try to Slow Down Bucks in LA -
Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.
NHL Odds: Canadiens Welcome Islanders Tonight -
The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.
NHL Odds: Reeling Flyers Seek Relief in Pittsburgh -
#nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.
Dollars to Donuts Slot Launch -
Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.
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