Saturday June 15,2013 : AUSSIE SOCIAL SPORTS PROVIDER LAUNCHES B2B OPERATION
Favourit as worked with some big names in online and mobile sports betting
Toby Simmons, the 26-year-old CEO of Aussie social sports betting company Favourit, has announced that his company has expanded into the business-to-business space, leveraging its experience from working with industry giants like Paddy Power and TABcorp.
Since launching as a privately funded start-up earlier this year, Favourit has seen outstanding growth in wagering through its platform, reporting growth rates around 225 percent a month. It hopes to further boost business by offering white label deals to other entrepreneurs.
Based in Melbourne, Favourit has a popular free iOS app out in the social sports market to complement existing mobile and web HTML apps.
Simmons aims to provide bettors and sports fans with a single platform for wagering real cash or virtual currency using Favourit’s integrator with several of the world’s top betting sites, including Sportsbet.com.au, Paddy Power, and Luxbet.
Favourit's key to success is that it doesn’t facilitate real currency transactions; instead, users use their existing accounts in betting operators to wager bets using Favourit’s platform. Favourit provide the vehicle for making betting more social for punters.
In addition to Simmons, the Favourit management team includes Martin Dalgleish, former Australian CEO of New Media for Publishing and Broadcasting Limited, who has administered the $3.6 million in funding raised for the start-up from angel investors and friends.
Simmonds believes his company has the potential to become the Facebook of the social sports betting scene, and his site reflects the requirements of a younger, 20 to 35 demographic, providing often expert information and interaction in equal measure, and encouraging a competitive but friendly culture among members.