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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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Kentucky Derby Odds: Justify still Favorite -
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888Poker Takes Over the States -
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MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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