Betable
From Wikipedia, the free encyclopedia
 | |
| Industry | Entertainment |
|---|---|
| Genre | social gaming |
| Founded | London, United Kingdom (2008) |
| Founder | Christopher E. Griffin |
| Headquarters | London , United Kingdom |
Key people | |
| Website | betable |
Betable is a London-based company that develops and markets a real-money gambling platform for the social gaming industry. The company is licensed by the United Kingdom Gambling Commission and the Alderney Gambling Control Commission and is certified by third-party testing houses.[1][2][3][4] The company has raised a total of $23 million in venture funding from, among others, Venture51, Greylock Partners, and Founders Fund.[5][6][7]
TechCrunch April Fools' slot machine
Christopher Griffin, the company’s current CEO, founded Betable in 2008.[2][5][8] The first iteration of the service involved users creating betting opportunities and placing bets on a central, social-oriented gambling site. In July 2010 the company raised $3 million in seed funding from Atomico Ventures.[9]
In 2012, Griffin re-capped the company and re-launched Betable from being a betting site to developing a real-money gambling platform.[7][10][11] The Betable API beta program was released in July 2012, allowing game developers to integrate Betable betting features.[4][12][13]
In October 2012, Betable partnered with game developers Slingo, Digital Chocolate, and Murka Games to incorporate betting into the developers' current offerings.[12]
In November 2012, Mandala Games became the first European game developer to use the Betable platform, enabling real-money play in its title Slots by La Riviera.[14]
In November 2013, Betable raised an $18.5 million Series A funding round led by Venture51.[1][6]
On 1 April 2013, news website TechCrunch published a hoax article claiming that it would be launching a social betting game for venture capitalists to gamble at, remarking that it would be "an even easier way to bypass SEC regulations around being an accredited investor".[15] The article included a TechCrunch-themed slot machine that was powered by Betable software.[16]