BUSINESS

Betable wants to put real money into the world of social gaming

TAGs: Betable, Business, Gaming, real money, social gaming, software programs

betable launches new software programBetable, the real-money gaming platform that hopes to bring the worlds of gaming and casino-based entertainment together, has introduced the world’s first real-money gaming platform while also announcing its private beta developer program, marking a landmark occasion that could potentially revolutionize the gambling industry.

In its quest to provide the license, support and infrastructure that allow developers to legally integrate real-money gaming into their mobile and social games and applications, Betable is backing up their talk by introducing a real-money gaming platform that allows developers to legally offer real-money gaming on any platform or device.

In a press release, Betable founder and CEO Christopher Griffin explained the rationale behind their business and how a partnership with Betable could set a new ground for social game developers. In the release, Griffin said: “Social game developers have a big problem; existing game monetization methods yield very low per player revenue, so without millions and millions of players it is extremely difficult to build viable businesses.

Betable initially launched its alpha program a few months ago to show off the platform and the multitude of gaming possibilities it could provide that will allow developers to integrate real-money gaming quickly and easily into new or existing games.

Now that they’ve gotten some traction, Betable also announced that it had rounded up a group of more than 25 investors, all of whom appear to have been sold on the company’s vision to provide the largest opportunity for innovation and monetization for game developers the years to come.

“Real-money gaming represents the rapid convergence of social games and the gambling industry, and our roster of investors with luminaries from both spaces uniquely positions Betable to capture this emerging market,” Griffin said.

“The validation they bring to the opportunity and the value that they add to our business is immeasurable.”

Among the investors Betable has rounded up include firms Bullpen Capital, CrunchFund, FF Angel LLC, Greylock Discovery Fund, Morado Ventures, Start Fund/DST, Tekton Ventures, True Ventures, and Venture 51. Likewise, the company also tapped into plenty of individual investors, including Marc Abramowitz, Scott Belsky, Reece Duca, Bjorn Evers, Auren Hoffman, Sean Knapp, Andrew Kofman, Howard Lindzon, Chris Larsen, Heather Sue Mercer, Dave Morin, Matt Ocko, Gil Penchina, Joshua Schachter, Arjun Sethi, Josh Spear, John Suliman, David Tisch, and Ray Tonsing.

The end game has always been to empower game developers to bring innovation to casino-style entertainment and deliver improved experiences for consumers on a plethora of gaming platforms. With their private beta developer program, Betable hopes to affect positive change in casino-style games and bring it to a whole new level that not only takes advantage of the of the popularity of real-money money gaming, but do so in a manner that allows developers to improve their revenues and customer lifeline values.

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