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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 :

IGT Continues Partnership with Coljuegos EICE - IGT will continue its 16-year partnership with Colombian administrative gaming authority Coljuegos EICE following a public procurement process for a five-year private operator contract to run the draw-based online lottery game Baloto.

Magic Spells SLot Launches - The penny slots’ Wild symbol is a bubbling cauldron which is an Expanded Wild that can cover up to four positions for multiple winning combinations.

Mega Moolah progressive jackpot slot was hit for Euro 6,078,249.33 - Identified as N.C., the player was a novice who signed up to the online casino on a new customer bonus offering 100 chances to become a millionaire for Euro 5.

Lightning Box Games in Deal With Everi Games - Australian slot developer, Lightning Box Games, has entered into a distribution deal with electronic gaming content provider, Everi Games, for a selection of its proprietary slot content.

Storspiller HighRoller Casino Launches - Storspiller.com is targeted at “high rollers” within Kindred’s total registered customer base who play for GBP 200 or more per month.

Another Attempt to Acquire Tatts - The surprise A$8.4 billion bid for Tatts late last year by the Pacific Consortium caused some consternation in the Tabcorp and Tatts boards, which were in merger talks but these concerns faded following Tatts rebuff of the consortium's offer

US Supreme Court Interested in NJ SportsBetting Case - The US Supreme Court, which is for the second year mulling whether to hear New Jersey's case for wider legalized sports betting in the United States ) has showed some interest in the case.

Ladbrokes Trading Update - The Ladbrokes Coral plc online and land gambling group has released a trading statement for the unaudited year to 31 December 2016, reporting:

Leovegas Player Wins a BMW X4 - A 23-year-old Southampton University student identified only as Leo has won a GBP 50,000 BMW X4 sports saloon car playing NetEnt's Live Casino Roulette on the Leo Vegas mobile gambling,site.

New Survey on Europe Online Gambling Regulations - The companies delivered their conclusions, which include both EU and European Economic Area technical regulations, this week.

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