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BETFAIR INVESTMENT IN WATERCOOLER CONFIRMED

10/26/09 - This  morning's  report on an investment by online gambling group Betfair in California-based social networking applications provider Watercooler has been confirmed.

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The betting group has been joined by investment house Canaan Partners in closing a $5.5 million Series B funding round. Betfair's US president, Gerard Cunningham, joins the Watercooler board as part of the deal, which opens up fantasy sports and other opportunities on social networking giants like Facebook.
 
"Our investment is further proof that Betfair believes the fantasy sportsmarket is a tremendous opportunity in the US and around the world," said Cunningham. "Watercooler's strong team and its proven ability to execute an innovative approach to social networking and sports, is extremely compelling as we continue to build Betfair's global portfolio of sports and social media offerings," he said.
 
Watercooler will use the round to fund further development of fantasy sports and social games on Facebook and other platforms.  The company recently launched FanSection Fantasy Football 2009, a commissioner-style fantasy football game available on Facebook. 
 
Earlier this year Watercooler's 2009 Bracket Challenge application was the largest college basketball tournament game on Facebook with over 1.7 million active users, easily surpassing all other bracket games combined.
 
The company's Series A financing was led by Canaan Partners of Menlo Park, CA.
 
Kevin Chou, CEO of Watercooler commented: "At Watercooler, we've already achieved fantastic momentum in the social gaming space on Facebook, and we look forward to continuing along that path with the new investment from Betfair and Canaan. Betfair's innovative approach to sports and gaming, along with its strong international presence, made the company a perfect fit as we continue to build innovative social games."
 
"There is a clear opportunity for Watercooler's fan communities and social games," said Maha Ibrahim, General Partner at Canaan Partners. "Since our initial investment, the company has rapidly expanded its worldwide users on top social platforms. 
 
"We're excited to help Watercooler achieve even greater success and believe Betfair's industry experience and regulatory capabilities will help drive the expansion of Watercooler's product offerings."



Gambling News :

Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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