Betable Aims To Conquer All Games With New Round Of Funding
If there is one startup that is worth investing in, it would be the San Francisco based Betable. For all those unfamiliar with this startup they are to gambling what Android is to Microsoft. It is all about breaking monopolies and casino conglomerates while giving the chance to any small gaming developer to taste the riches of real money gaming.
As we have reported on in detail previously, Betable is a company that have the technical and legal ability to turn any game into a real money venture. They hold licenses from the United Kingdom Gambling Commission and are certified by industry third-party testing houses. All the hassle, cost and legal complications are taken out of the equation for a gaming developer. All they have to do is focus on what they do best which is producing both social casino and other games which would attract global audiences. All the rest is done by Betable who have already teamed up with many gaming houses like Big Fish and Digital Chocolate in providing players the chance to play for real money.
While founded in 2011 there meteoric rise in the gaming world is one to admire. In July they succeeded in gaining investment capital and have followed it up with a further $18.5 million in a new round of funding led by Venture51.
What makes Betable so strong is the fact that they can monetize any social game and are not dependent on social casino games. The fact that they can attract global audiences with games like Candy Crush to bet on real money is another reason why they could grow exponentially. While real money casino games are often considered “sin markets”, many regular gamers would revel in the chance to play their favorite game for cash.
This thinking is shared by Betable CEO Chris Griffin who stated,” Betable is the only way for game developers to legally offer real-money play without spending millions of dollars on licenses or relinquishing control of their own games. This funding enables us to grow our team,introduce new features and support developers who are building on our platform. Our goal is to remove all of the obstacles that impede developers from offering real-money play, so that they can focus on what they do best: building great games.”
Griffin even expressed his ambitions to conquer the world’s largest social network Facebook and said,” It’s a platform we would love to be on. It’s a very big opportunity for our partners and a very big opportunity for Facebook as well.”
Another worthwhile observation is that of Zynga’s abandonment of real money ambitions in the U.S. Many believe that a major factor in their decision was due to companies like Betable who have leveled the playing fields for all. Zynga has been knocked of their perch as the largest social gaming developer and has made way for many smaller developers who look to Betable to make real cash.