Welcome!

News Feed Item

CashBet Continues Growth Momentum; Closed $1.7 Million Convertible Preferred Round and Platform Partner Deals

CashBet, the leading platform provider enabling real-money online gambling in social and mobile games, announced unprecedented growth in 2013. The company received $1.7 million in financing led by Fred Hsu and other prominent angel investors, added several new game publishers including publicly-traded Gamzio, Inc., and built an innovative platform meeting or exceeding jurisdictional requirements for player protection and information security. CashBet is currently preparing materials to seek investment contribution from larger strategic and investment partners.

“CashBet has already made significant moves into the mobile gambling space over the last year by launching our SDKs for HTML5 and iOS platforms and by acquiring Category 1 and Category 2 eGambling licenses from the AGCC,” said Dr. Mike Reaves, CEO and cofounder of CashBet. “We're pleased with the current momentum of partnerships and our product development achievements to date. We’ll continue to focus on expanding the feature set and capabilities of our platform to meet the growing needs of our customers worldwide.”

“As veterans of the online gambling industry, CashBet is uniquely positioned to overcome challenges in legality, compliance and more. To date, CashBet has already made significant strides in building their platform to create real value for partners. Angels like myself live to support companies like CashBet as they move forward building out their vision,” said Fred Hsu, lead angel investor.

Morgan Stanley Research estimates that the online gambling industry will exceed $40 billion in revenues worldwide in 2014. The industry has been experiencing 20% year-over-year growth, with mobile gambling as its fastest growing segment. CashBet is focused on building the world’s most trusted brand for mobile gaming and on bridging the gap between social and mobile play and online gambling. Its systems are PCI-DSS compliant, incorporating AES encryption for data security, a high speed network, and world-class physical security. Anti-fraud operations run around the clock and are monitored by both human and automated systems. With CashBet’s proprietary platform, developers can focus on building great games while easily and legally accessing the online gambling market for increased player monetization and retention.

“CashBet provides game developers a single SDK for access to the most robust online gambling platform,” said Jay Deiboldt, CEO of Gamzio, Inc. “By integrating Gamzio games with CashBet, we're able to tap into the billion-dollar market expected this year, seamlessly. Access to real-money online gambling is a game changer for social and mobile game developers who want to grow their revenues through this channel."

Recently, the Alderney Gambling Control Commission (AGCC) awarded Category 1 and Category 2 eGambling licenses to CashBet, granting the company the right to legally register players and conduct online gambling transactions in Europe.

Game publishers can meet with CashBet February 4-6 in London at the upcoming ICE Totally Gaming 2014 -- the world's biggest gaming innovation event. To learn more about CashBet and sign up for access to the SDK, visit www.cashbet.com.

About CashBet

Founded in 2012, CashBet is a leading software platform provider and turnkey operator, enabling online gambling for social and mobile games. CashBet is licensed by the Alderney Gambling Control Commission. By incorporating CashBet’s Game Development Kit (GDK) software, developers can tap into the online gambling market, accessing our turnkey platform which delivers licensing, compliance, player verification, and banking features needed to enable real-money gaming. California-based CashBet is led by veterans of the online gambling industry with expertise in legality and compliance, including CEO and co-founder Dr. Mike Reaves and CTO and co-founder Dr. George Weinberg. For more information, please visit www.cashbet.com.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that Ericsson has been named “Gold Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Ericsson is a world leader in the rapidly changing environment of communications technology – providing equipment, software and services to enable transformation through mobility. Some 40 percent of global mobile traffic runs through networks we have supplied. More than 1 billion subscribers around the world re...
In the world of DevOps there are ‘known good practices’ – aka ‘patterns’ – and ‘known bad practices’ – aka ‘anti-patterns.' Many of these patterns and anti-patterns have been developed from real world experience, especially by the early adopters of DevOps theory; but many are more feasible in theory than in practice, especially for more recent entrants to the DevOps scene. In this power panel at @DevOpsSummit at 18th Cloud Expo, moderated by DevOps Conference Chair Andi Mann, panelists will dis...
A critical component of any IoT project is the back-end systems that capture data from remote IoT devices and structure it in a way to answer useful questions. Traditional data warehouse and analytical systems are mature technologies that can be used to handle large data sets, but they are not well suited to many IoT-scale products and the need for real-time insights. At Fuze, we have developed a backend platform as part of our mobility-oriented cloud service that uses Big Data-based approache...
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
Increasing IoT connectivity is forcing enterprises to find elegant solutions to organize and visualize all incoming data from these connected devices with re-configurable dashboard widgets to effectively allow rapid decision-making for everything from immediate actions in tactical situations to strategic analysis and reporting. In his session at 18th Cloud Expo, Shikhir Singh, Senior Developer Relations Manager at Sencha, will discuss how to create HTML5 dashboards that interact with IoT devic...
trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vice president of product management, IoT solutions at GlobalSign, will teach IoT developers how t...
There is an ever-growing explosion of new devices that are connected to the Internet using “cloud” solutions. This rapid growth is creating a massive new demand for efficient access to data. And it’s not just about connecting to that data anymore. This new demand is bringing new issues and challenges and it is important for companies to scale for the coming growth. And with that scaling comes the need for greater security, gathering and data analysis, storage, connectivity and, of course, the...
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, will explain how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
In his session at @ThingsExpo, Chris Klein, CEO and Co-founder of Rachio, will discuss next generation communities that are using IoT to create more sustainable, intelligent communities. One example is Sterling Ranch, a 10,000 home development that – with the help of Siemens – will integrate IoT technology into the community to provide residents with energy and water savings as well as intelligent security. Everything from stop lights to sprinkler systems to building infrastructures will run ef...
Artificial Intelligence has the potential to massively disrupt IoT. In his session at 18th Cloud Expo, AJ Abdallat, CEO of Beyond AI, will discuss what the five main drivers are in Artificial Intelligence that could shape the future of the Internet of Things. AJ Abdallat is CEO of Beyond AI. He has over 20 years of management experience in the fields of artificial intelligence, sensors, instruments, devices and software for telecommunications, life sciences, environmental monitoring, process...
Much of the value of DevOps comes from a (renewed) focus on measurement, sharing, and continuous feedback loops. In increasingly complex DevOps workflows and environments, and especially in larger, regulated, or more crystallized organizations, these core concepts become even more critical. In his session at @DevOpsSummit at 18th Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, will show how, by focusing on 'metrics that matter,' you can provide objective, transparent, and meaningfu...
Digital payments using wearable devices such as smart watches, fitness trackers, and payment wristbands are an increasing area of focus for industry participants, and consumer acceptance from early trials and deployments has encouraged some of the biggest names in technology and banking to continue their push to drive growth in this nascent market. Wearable payment systems may utilize near field communication (NFC), radio frequency identification (RFID), or quick response (QR) codes and barcodes...
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, will discuss how leveraging the Industrial Interne...