Betable Introduces Real Money Social Games

A new platform that was launched on Monday by Betable enables players to wager for real-money on any online game. This online gambling operator is based in London with a British gambling license. Presently it is working with US game developers from California.

Chief executive of Betable, Christopher Walken said, “This is the first and only platform to allow any game developer to allow real-money gambling.”

Betable Social Gaming Platform

Griffin told Cassaon-casino the new system allows punters outside the United States and other jurisdictions where online gambling is legal to wager for real cash. He said it is where social gaming meets real betting. Punters will be able to play the various games offered from their computers and mobile devices.

Griffin said, “Social game developers have all the ingredients that the gambling guys are missing.”

“They have good user experiences. They have a huge install base of a billion players, but they don’t have access to monetization.”

”No specific contract has been announced by Betable as yet, but said the platform could be used by popular Facebook social games like Zynga’s Farmville. Griffin stated, “We can turn the harvesting of crops into a slot machine.”

“You could add a slot machine, you could buy the corn with real money. The cool thing is you can build traditional casino games or invent totally new mechanics.”

Griffin pointed out that despite the popularity of social games to date, they offered their developers few opportunities to make money. A relatively small amount of players pay for “premium” games, and advertising revenues have their limits.

Betable has a British gaming license which allows bets to be placed from any jurisdiction in the world where online gambling is legal. This means US players are excluded because of a ban on Internet gambling in the United States. Griffin said, “At Betable, we’re unlocking real-money gaming for developers who can innovate in what up until now has been a massively impenetrable space.”

“Our partners and investors believe that Betable represents the largest opportunity for innovation and monetization for game developers in years.”

So far the company has not disclosed who its investors are, but said it has more than “25 investors and one of 2012’s largest seed rounds of funding.”

Companies that bankrolled Betable’s ventures to date include venture capital groups such as Greylock Discovery Fund and FF Angel LLC, True Ventures,Facebook big wig Dave Morin and intrepid Russian billionaire Yuri Milner who is also a former Facebook investor.

Partner at True Ventures, Tony Conrad had the following to say, “We believe real-money gaming will make the social games industry more successful and has the potential to catapult games that offer it to the top of every app store on the planet.”

“While awaiting the US legalization of online gambling which could take years, the overseas markets represent billions of dollars in opportunity for developers located anywhere in the world.”