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PLATFORM TO MONETISE ONLINE AND MOBILE GAMES
July 10,2012 : PLATFORM TO MONETISE ONLINE AND MOBILE GAMES
UK-licenced firm offers developers the tools to monetise games of chance
London-based startup Betable has launched a software offering that will provide social, online and mobile game developers a platform allowing the easy monetisation of games of chance.
The new gaming platform is the result of a change in course for Betable who previously attempted to create a social betting proposition market under the same company name.
The company announced Monday that it has raised “one of 2012′s largest seed rounds” from over 25 investors that include Greylock, CrunchFund, Yuri Milner’s Start Fund, Founders Fund, True Ventures, Path co-founder Dave Morin, former Wikia chief executive Gil Penchina, Delicious’ Josh Schachter, StockTwits’ Howard Lindzon and LOLApps former chief executive Arjun Sethi, although it declined to divulge the value raised.
Betable said it had partnered with thirty plus developers in what it termed a "stealth private alpha programme" which it has now extended to a private Beta.
It's offering, aside from operating as a turnkey gaming engine for developers, includes providing players with accounts, keeping track of players' winnings, player vetting and managing gaming calculations.
Licenced by the UK Gambling Commission, Betable Limited is licensed to operate, as a remote betting intermediary, pool betting, casino and linked gambling software. The company said it had secured licensing in other legally regulated jurisdictions in Western Europe and parts of Asia, without naming which those were.
According to chief executive Chris Griffin, gambling-style games monetize better on a per user basis, bringing in $1 800 in customer lifetime value versus $2 for social games.
“Social game developers have a big problem; existing game monetization methods yield very low per player revenue, so without millions and millions of players it is extremely difficult to build viable businesses,” Griffin said. “By partnering with Betable to enable real-money gaming, developers will see huge increases in their average revenue per user and average customer lifetime value.”
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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