The Betting Startups Newsletter - May 2022

May 31, 2022

Welcome to the May edition of the newsletter!

The issue is brought to you by Xpoint, a geolocation and compliance technology firm specializing in North American sports betting and iGaming markets.

Here is what we read, heard, and saw in the betting industry's early-stage ecosystem this month:

The leading sports betting and iGaming event in North America returns to New Jersey July 12-14

🤑 Funding secured

The financing was led by crypto venture fund Hack VC with several other investors in this round.

The free-to-play social wagering platform has taken the next step in its growth phase.

The company will use the funding to continue to enhance its data science and technical infrastructure.

The Chicago-based audience engagement platform is backed by the world's largest operator of integrated resorts.

The Berlin-based startup has completed another round of financing, securing €6m ($6.2m) from several tech and gaming investors.

The Swedish compound-computing specialist Signality receives strategic investment.

Funding will help accelerate the development of a Rocket League card collecting add-on.

Ubet, a Toronto-based decentralized sports prediction market, raised $2.7M in seed funding.

🚀 Fresh partnerships & launches

NASCAR has added interactive polls to its digital content through its deal with content gamification startup PickUp.

Low6 has updated its UltimateFan fantasy sports product to include NFTs, seeking to offer a ‘new frontier’ of possibilities.

A recent press release said the company will launch its sportsbook in the coming months.

Flutter seeking to partner with emerging tech startups to improve Paddy Power's retail experience

💡 Innovation Spotlight: Parlay Poker

Every month, we feature one startup that we think is doing something particularly novel and unique. This month, the Innovation Spotlight is on Parlay Poker.

Who: Founded by Ramsen Neesan, of Neesan Labs LLC

What: Parlay Poker is a new game that combines sports betting with poker. Traditional playing cards are assigned to game markets based on their odds. Players create a poker hand with a parlay bet and are paid out according to their made hand and parlay win.

Why it’s innovative: Parlay Poker uses a proprietary card assignment algorithm to assign cards. This introduces a new way to play online poker not dependent on computer calculations, but with real-life event outcomes. It creates a net-new revenue stream and increases operator profit margin by adding a new side bet to existing parlay wagers.

When: Founded in 2018, Neesan Labs LLC builds custom web and mobile applications covering multiple industries including gaming, social media, retail, and non-profit. The Parlay Poker beta version of the web application was launched in 2021, and the mobile and web versions will be launched by 2022 Q3.

Where: Learn more at parlaypoker.com 

🗣️ What industry investors are saying

The principal at Avenue H Capital shares his current thoughts on May's most downloaded episode.

Industry executive, entrepreneur, and investor Chris Grove shares his insights from May's event in NYC

👔 Make your next move

Amazing opportunities at these awesome companies, brought to you by BettingRoles.com:

Sports IQ: Head of Finance (100% remote) - Sports IQ is seeking a financial leader to work as a business partner to the CEO.

GridRival: Principal Full Stack Engineer - As a Principal Engineer, you will help us build a world-class fantasy sports and sports betting experience.

🏁 The finish line

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