GameCo, a Las Vegas-based gambling firm, today revealed its full-service esports betting solution tailored specifically for casinos and sportsbooks in regulated U.S. markets.
The betting application is the combined effort of data platform GRID, oddsmaker 10Star, and iGaming software developer Askott Entertainment, which recently saw acquisition from FansUnite.
Through the wagering platform, operators can offer a “powerful and flexible plug-and-play” esports solution that combines betting, data and video streaming services, as well as odds risk management. The solution will be operated under the company’s newly launched esports betting brand, iGameCo.
Blaine Graboyes, CEO and Co-founder of GameCo, commented on the launch in a release: “We’re proud to lead the industry forward by providing a truly end-to-end, fully managed solution for casinos and sportsbooks in the US looking to capture a piece of the exploding esports betting opportunity. We‘ve recently seen the gaming and esports categories skyrocket in popularity particularly among younger, untapped audiences, and now is the time for casino operators to act and set the stage for the future of sports gambling.”
In April, GameCo partnered with Berlin-based GRID to “unlock the potential of esports” with real-time feeds of official data and visualisations for casinos and sportsbooks. The accord will leverage GRID’s relationships with game publishers and tournament organisers in chorus with GameCo’s gaming licenses, which the company holds in over 25 jurisdictions across North America and Europe.
The deal will see Vancouver-based Askott Entertainment provide its iGaming technology, Chameleon Gaming Platform, for iGameCo to include in its esports offering. Combining a suite of features including pre-match, in-play, and live stream betting, the solution will offer a customisable white-label platform designed specifically for next generation online bettors and casino players.
iGameCo’s sportsbook solution will utilise the pricing and risk management service supplied by 10Star. With the technology firm in its corner, iGameCo will have the capability to offer pre-match odds, real-time pricing for in-play betting, and risk management which promises “maximum margins” for operators and partners.
Current regulatory policy surrounding esports betting in the United States is still developing alongside the country’s emerging sports betting industry. As of August, nine states permit esports event wagering, each on a case-by-case basis with various combinations of legislation, regulation, and regulatory discretion. Although, some areas are moving more quickly towards esports betting adoption than others.
Between March and May, Nevada regulators issued 13 separate licenses for esports allowing the state’s licensed sportsbooks to accept wagers on a range of titles including League of Legends, Overwatch, Counter-Strike: Global Offensive, Call of Duty, Dota 2, and iRacing. On the opposite coast, New Jersey advanced a bill to permanently include esports in the state’s legal sports betting industry. The bill, A637, has made its way to the Senate where lawmakers will have until the end of the year to either pass or veto the proposed legislation.
Esports Insider says: This is a one-of-a-kind product merging elite, expert organisations through a four-way partnership to create a truly full-service solution. The esports betting handle has turned a significant corner this year, inadvertently accelerated by the pandemic, and the timing for this offering simply could not be better.
Published at Thu, 27 Aug 2020 14:59:14 +0000
BITKRAFT Ventures, a leading esports venture capital fund, announced has raised a total of $165 million £125 million) to invest across esports, gaming, and interactive entertainment.
The BITKRAFT Venture Fund I closed above its original target of $125 million (£94.7 million), thanks to contributions from a wide array of investors, including investment firms and corporate investors.
Jens Hilgers, Founding General Partner of BITKRAFT Ventures, commented in a release: “We are grateful to our investors for their confidence in our team’s ability to identify talent, trends, and opportunities in the gaming and esports space. At BITKRAFT, we don’t just support forward-thinking entrepreneurs with capital, but also provide experience, resources, and our global network. While we are living in challenging times, our industry is experiencing strong tailwinds and unprecedented opportunity. There is no better time for BITKRAFT to invest.”
According to a release, BITKRAFT Venture Fund I was backed by investment firms including Carolwood, Declaration Partners, and JS Capital, as well as corporate investors adidas, Logitech, Advance, and WPP.
BITKRAFT originally launched with a pre-seed round in 2017 and has since amassed a portfolio of more than 50 companies across Europe, North America, and Asia. Those companies include Epic Games, H4X, VENN, FanAI, Epics.gg, and Anzu.io.
Hilgers is the co-founder and former CEO of ESL, and is the co-founder and Chairman of G2 Esports. His fellow BITKRAFT Founding General Partners, Malte Barth and Scott Rupp, both have experience with ESL and DreamHack parent company Modern Times Group (MTG), among others. Earlier this year, BITKRAFT added former Goldman Sachs VP Moritz Baier-Lentz as a partner.
Esports Insider says: BITKRAFT is already the most notable esports-centric VC out there, and $165 million can go a long way towards fueling startups and investing in the future of more established companies. It will be exciting to see which companies join the BITKRAFT portfolio next thanks to this sizable war chest.
Published at Thu, 27 Aug 2020 13:59:14 +0000