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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.”

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Gambling News :

Interwetten 2016 Earnings Results - Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform

EU Online Gambling Tax Harmoney Dead - Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.

Jack Lam Facing Big Fines in the Philippines - It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.

Walter Merricks Term As Gambing Commissioner Extended - The UK Government has extended Walter Merricks’ term as Commissioner of the Gambling Commission for a further year, ending December 31, 2017.

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

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