Betable gets more funds
Betable funding

Betable Secure More Funds in Push for Real Money Mobile Gambling

UK based betting firm Betable has announced the results of its latest round of funding, with $18.5 million having been raised as the company looks to develop a new real money gambling platform for mobile casino game developers.

The leading partner in this round of financing was venture capital firm Venture51, with significant investment from previous backers Greylock Partner and Founder Fund. At the end of this round of financing, the total amount collected by the company has reached $23 million.

Betable’s main course of action is allowing mobile arcade games developers to add real money betting to their games. Indeed, their attempt at monetizing the social gaming industry comes at a key time for both social gaming and gambling operations, as both seek to monetize the huge number of social gamers out there.

With Zynga deciding against a real money mobile casino recently, the market is wide open for Betable to take full advantage, and it looks like the company are all set to burst through the last regulatory hurdles and start producing more and more social gambling games.

This latest round of financing has left the company valued at between $80 million and $100 million, a figure that will surely rise if they can show the world of gambling that their platform works.