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VGambling in Finance Round
VGAMBLING IN FINANCE ROUND TO LAUNCH ESPORTS BETTING PLATFORM
Traditional sportsbook model fundamentally ill-suited to eSports wagering, chief executive officer believes.
Antigua-based eSports gambling firm VGambling Inc., has executed a term sheet for its $850,000 Bridge Round financing which it expects to complete within the next 6 weeks.
The Financing, available exclusively through Denver, CO-based First Capital Ventures, is intended to complete the Company's peer-to-peer eSports wagering platform and launch its eSports websites.
"Fortune Magazine has reported that the eSports fan base will outstrip the NFL in 2017, while Forbes projects that fans of eSports fans will wager $23 billion by 2020," Gary Graham, president and chief executive officer of First Capital said.
"Yet traditional betting sites employ a sports book model that is fundamentally ill-suited to eSports. VGambling will be the first to offer a peer-to-peer wagering model dedicated to eSports, and it will be the only site to cover all 5,600 pro tournaments each year.
Grant Johnson, President and chief executive officer of VGambling, added: "We are excited to have secured this financing commitment from First Capital Ventures. The eSports industry is accelerating at a phenomenal rate and this financing brings us materially closer to the completion of our eSports wagering platform and launch of our global scale marketing programs."
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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 -
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PKR Company Statement Update -
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Microgaming Wins The Spark Award 2017 -
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NHL Predators First Ever Conference Finals Appearance -
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