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Chumba World looking for financial support
Thursday February 7,2013 : AUSSIE START-UP PUNTS A VIRTUAL GAMBLING GAME
Virtual Gaming World looking for financial support
Chumba World is the unusual title chosen for a new online and mobile social game based on gambling and developed by Australian start-up Virtual Gaming World, which hopes to generate enough interest to garner financial support for the massively multi-player, freeplay offering.
VGW chief executive and and founder Laurence Escalante told the publication VentureBeat that Chumba World is a social casino through which players can build their own digital Bellagios, customise their avatars, and create their own individual digital variations of slot machines and table games, including Blackjack, Roulette, and Video Poker.
There are currently eight games available, and more are in development, including Poker, Bingo, Keno, and Baccarat.
Users can host other players and share their creations, or embed them into their own websites and blogs, potentially earning real cash through a traffic-based revenue share with the Chumba platform.
Escalante says that as with all social casino games, users are able to purchase currency to play, although winnings can’t be cashed out. But as players generate more traffic spending virtual currency at their casinos, Chumba can calculate the currency flowing through their casinos and pay them a small revenue share as real or virtual money.
Escalente says he has raised some capital from Australian private investors, but needs more resources to realise the full potential of his concept, which should be ready for launch within the next six months.
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Gambling News :
Wanajump Launches -
#Wanajump Spanish online and land gambling operator Grupo R. Franco appears to be emulating the William Hill group, announcing this week that it is to begin a start-up accelerator program for innovative entrepreneurs, which it has titled Wanajump.
Coral Launches player proposition betting product -
Digital Sports Tech, a business-to-business software provider of sports betting solutions, has signed a deal with UK online and land sports betting operator Coral to provide an innovative player proposition betting product.
Oshi online casino now accepts fiat currencies -
The Oshi online casino, which started just a year ago as a Bitcoin-denominated operation, has described its expanded activity in a statement this week, noting that in addition to Bitcoin it now accepts fiat currencies and has added new game providers to its roster of suppliers.
New Standards for UK Online Gambling -
Online gambling service and technology providers, along with operators and testing agencies will be studying the new gambling software and technical standards proposal published by the UK Gambling Commission following a public consultation.
Pennsylvania Gambling Bill 1887 returned with additions -
The interaction between the Pennsylvanian House and the state Senate has become increasingly like watching a game of ping pong as the two political establishments wrestle with online gambling legalization and court-ordered tax fixes in the dying days of the current political season.
Mybet Earnings Struggle -
The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".
Tom Horn Awarded Malta Gaming License -
Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.
Calvin Ayre invests in new Antigua Business Center -
Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.
Attack of the Zombies Slot -
Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.
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