Connect with us
Advertise at European Gaming Media

Industry News

Pioneering VC Fund Targeting Legal U.S. Sports Betting Opportunity

Published

on

Pioneering VC Fund Targeting Legal U.S. Sports Betting OpportunityReading Time: 2 minutes

 

Gambling industry veterans bring funding, expertise to wave of new sports betting startups through newly formed Sports Gaming Investment Fund (SGIF)

The market for sports betting in the U.S. is expanding at an unprecedented pace following a 2018 Supreme Court decision that allowed all states to legalize sportsbooks. A wave of innovative startups is emerging with products, services, and solutions designed to tap the estimated $17 billion dollar opportunity that legal U.S. sports betting represents.

Discovering, funding, and guiding the development of the best of those startups is the goal of the Sports Gaming Investment Fund (SGIF), a pioneering VC fund focused primarily on the U.S. legal sports betting industry.

Management for this industry-first fund features a host of gambling industry, investment, and venture expertise:

  • Chris Grove, Managing Partner: Grove is a partner at Eilers & Krejcik Gaming, heading the firm’s sports betting practice.
  • David Sargeant, Managing Partner: Sargeant is the founder and CEO of iGaming Ideas, a leading international incubator for gambling startups, and sports betting consultant.
  • Blaine Graboyes, Advisory Partner: Graboyes is the co-founder and CEO of the groundbreaking gambling machine developer GameCo.
  • Seth Schorr, Advisory Partner: Schorr is the Chairman of Fifth Street Gaming and co-founder of the streaming media startup Konek TV.
  • SeventySix Capital, Advisory Partner: SeventySix brings decades of fund management to the SGIF team and will assist with deal structure, vetting, and back office.

“There’s no doubt that the keys to fully unlocking the potential of the U.S. sports betting market are in the hands of startups,” said Grove, a nationally recognized expert on the legal sportsbook industry. “We’re just now starting to see the ideas that will ultimately define sports betting in the United States.”

“The pace of development in the U.S. market only increases the opportunity for startups,” added Sargeant, who has evaluated hundreds of early-stage companies during his career. “Large casinos and software providers won’t have the bandwidth or resources to truly innovate. They’re too busy simply getting up and running.”

Investors in SGIF have been attracted to the combination of timing, team, and opportunity.

“My decision to invest in SGIF was driven by my belief in the team’s superior deal flow, their proven ability to evaluate that flow, and the resources they can deploy to support portfolio companies,” said Jeremy Levine, an investor in SGIF. Levine is the founder of multiple companies, including DRAFT, which was acquired by PaddyPower Betfair in 2017.

For startups, SGIF will play an invaluable role in guiding them through the regulated gambling  landscape.

“Gambling is one of the toughest industries for startups from a compliance perspective,” noted Graboyes, who has steered GameCo from concept to a heavily licensed gambling supplier. “Having the right plan as early as possible in the process can easily be the difference between success and failure for a startup targeting the sports betting industry.”

SGIF will add additional value to portfolio companies by helping to ensure optimal product fit and market access.

“Startups don’t always appreciate what problems larger gambling companies are actually attempting to solve and what opportunities do and don’t resonate with those companies,” said Schorr, who has held management roles at several Las Vegas casinos and currently operates the Downtown Grand in Las Vegas.  “We will help our startups hone their product, model, and approach to fit with the real demand within the gambling industry, and then match a startup’s product to that demand.”

For more information, visit www.SGIF.vc.

About SGIF
Sports Gaming Investment Fund (SGIF) is a VC fund focused on startups that support the emerging U.S. market for legal sports betting.

 

Source: SGIF

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Pioneering VC Fund Targeting Legal U.S. Sports Betting Opportunity

Continue Reading

Industry News

Zitro’s Illusion And Allure Arrives At Caliente Casino

Published

on

By

Zitro's Illusion And Allure Arrives At Caliente CasinoReading Time: < 1 minute

 

Casino Caliente have installed the two new Zitro cabinets. “Thanks to operators like Caliente. We are grateful to them to have given us the opportunity to demonstrate the brilliance of our products, so we are eager to celebrate with them and our friends the success that will be the new cabinets and games in their rooms ”comments Johnny Viveiros Ortiz, Founder of Zitro.

ILLUSION and ALLURE are the new Zitro cabinets that standout for occupying less space in the room. While ILLUSION presents the world novelty ‘Bashiba Link’, ALLURE is loaded with two spectacular games ’88 Link Lucky Charms ’and ’88 Link Wild Duels’. As for its aesthetics, ILLUSION is a pure spectacle, with an impressive 43” full HD curved monitor, a 21.5” LCD topper and the ‘SmartDeck’ digital keypad. For its part, ALLURE is elegance and fun in equal parts with its three 27” Full HD screens and a multimedia system integrated in the upper screens that act as a sign of the next generation.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Zitro’s Illusion And Allure Arrives At Caliente Casino

Continue Reading

Industry News

Local Authorities in Bratislava Introduce New Restrictions on Gambling

Published

on

By

Local Authorities in Bratislava Introduce New Restrictions on GamblingReading Time: < 1 minute

 

Local authorities in Bratislava have introduced new restrictions on gambling in the Slovak capital. Changes to the National Gambling Act which came into force earlier this year have allowed municipalities to take action against the dangerous vice.

As per the latest restrictions, gambling halls can no longer operate within 200 meters of schools or other educational facilities, institutions servicing children and youth and treatment centres for non-substance addictions.

Bingo, board games, gambling machines, video game terminals, technical equipment operated directly by players, or other technical equipment used for gambling will be completely banned from use on certain dates – most notably during national holidays.

Currently, a petition for a complete ban on gambling in Bratislava is underway and it has already gathered over 100,000 signatures. In September, Matúš Vallo, mayor of the Slovak capital announced the creation of a new working group that will be communicating with citizens and civil association and trying to answer their concerns.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Local Authorities in Bratislava Introduce New Restrictions on Gambling

Continue Reading

Industry News

BTG Launches its Millionaire Mystery Box Slot

Published

on

By

BTG Launches its Millionaire Mystery Box SlotReading Time: < 1 minute

 

Big Time Gaming has launched its Millionaire Mystery Box slot exclusively with the Gaming Innovation Group’s Rizk.com online casino.

This 5-reel game has 243 different ways to win with mystery boxes thrown in. Inside the mystery boxes, you’ll discover any possible symbol, including special symbols such as the wild and scatter. Hitting the scatters will transport you into the hot seat, where you can win up to 24 free spins and a multiplier of up to 50× for the chance to win big money.

“Who Wants to Be Millionaire the TV show lends itself well to slot adaption because it already contains gambling elements coupled with the chance to win dizzying amounts of money. We retained the core elements that made Millionaire Megaways a hit, but we’ve added rich new features and a fun element of surprise. We know Rizk players are already loving it, but what would you expect from the thought leaders of modern slot development,” Nick Robinson, BTG’s CEO said.

“I’m delighted by the launch of Big Time Gaming’s newest blockbuster, Millionaire Mystery Box, exclusively on Rizk. The game has been a big hit with our players and, because it’s a household name and has excellent artwork and mechanics, it has provided some excellent marketing content. We want to extend a big thank you to Nik and all the team at BTG for coming up with another smash hit,” Ross Parkhill, Managing Director at GiG said.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: BTG Launches its Millionaire Mystery Box Slot

Continue Reading
Advertisement
NSoft

Trending