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Jackpot Rising secures $3 million in venture funding
July 7,2016 : TEXAS START-UP PROVIDES PROGRESSIVE JACKPOT TECHNOLOGY
Jackpot Rising secures $3 million in venture funding.
Jackpot Rising, a well-named Dallas, Texas start-up that provides progressive jackpot technology to real-money skill game developers, has secured $3 million in venture funding from an undisclosed investor.
Founder and CEO William Webb (28) said this week that his company offers technology which enables developers to plug the software into their products, explaining that it collects players attempt fees and puts part of these into a jackpot of money that players can win. A portion of the attempt fees also goes to Jackpot Rising and to the game developer.
Game developers can set the fee, duration of time that the jackpot grows and number of winners who receive pay-outs. For example, winnings could go to the top 25 players or be set for "winner-take-all."
The package from Jackpot Rising includes player identity verification and bank and PayPal connectivity, along with a variety of state tax deduction options.
Webb told local media outlets that his product exploits current trends in the online gaming world, especially mobile games where the millennial demographic are constantly looking for new vehicles on which they can compete for cash prizes in skill games, or in fantasy sports competitions.
"Millennials arent going to Vegas and pulling levers of slot machines anymore," he said.
Webb says he plans to use the $3 million new investment to enhance his platform, apply for patents and expand the companys office space.
He plans to launch an app in the autumn to complement his platform by providing a one-stop shop for games that use Jackpot Rising....and he has ambitions to extend the scope of his platform to handle golf and racing activity.
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Gambling News :
Anti Gambling bill S. 3376 -
#s3376 Industry observers were taken by surprise late Friday when a little-known Republican Senator from Arkansas, Tom Cotton, filed the beginnings of a new bill in the US Senate Committee on the Judiciary in what appears to be a move to toughen the US legal stance on the Unlawful Internet Gaming Enforcement Act of 2006 and possibly the 1961 Wire Act.
2016 WPT Borgata Main Event Results -
@MrJesseJames888 Four years ago the poker world watched as Jesse Sylvia and Greg Merson fought it out in the heads up of the World Series of Poker main event, with Sylvia narrowly defeated but taking home a second placing pay check for $5,292,889.
G-Sports debuts with the game Road Redemption -
#esports Land, online and mobile gambling publisher Gamblit Gaming has debuted in the burgeoning eSports sector, unveiling its new eSports platform branded G-Sports with the hit PC and console game Road Redemption.
French licensed gambling operators lost $5M in 2015 -
#france Numbers released by the French online gambling regulator ARJEL have illustrated the continued folly of a ring-fenced and restricted online gambling market saddled with a harsh and operator-unfriendly tax regime.
NO PRIVATISATION FOR ONTARIO LOTTERY -
The privatisation of the Ontario provincial lottery will not go ahead despite proposals by major companies like IGT-GTech, Scientific Games and Rogers Communications submitted in response to the provincial government’s 2014 Request for Proposals.
Space Invaders wins Best Slot Product Award -
The growing emphasis on skill-based slot machines that are more appealing to the millennial demographic has seen Scientific Games awarded a Best Slot accolade for its Space Invaders game at the 2016 Gaming and Technology Awards.
NEW MARKETING CAMPAIGN FROM LADBROKES -
The Ladbrokes land and online gambling group has launched its latest marketing campaign, with the first television advertisements ready to screen this Saturday.
Gamesys acquires Snowcat Games -
London online gambling provider Gamesys has announced the acquisition of Estonian online gambling games developer Snowcat Games for an undisclosed consideration, noting that the deal will strengthen its development capabilities.
BetConstruct adds virtual sports products -
The Golden Race package includes premium virtual content including; football, tennis, Real MMA Fighting, horse and greyhound racing, along with lotto and keno games content.
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