Betting technology business Network Gaming has raised £1.25 million ($1.64 million) in strategic funding, set to power the company’s next phase of international growth and product development. Investors include gaming heavyweights such as Betfair co-founder Andrew Black.
“I’ve felt for a while now that the betting landscape is ripe for change, and I’m delighted to be working with Network Gaming on a few fresh ideas,” Black said in a statement. Other backers include investor Robert Markwick; Colossus Bets CEO David O’Reilly; TX Odds CEO Einar Knobel; owner of Sutton United FC Gary Otto; and partner at Oakvale Capital Sandford Loudon.
Network Gaming describes itself as “a betting technology company innovating the next generation of sports prediction games.” The business first attracted interest from investors and industry members after the success of its first pay-to-play game, the Fantasy Masters golf.
The game pitted friends and colleagues against one another, and featured a dynamic live leaderboard for large cash prizes. Network Gaming says its next breed of products build upon this title, taking what was learned from its success: “Putting the customer experience at the center of both game design and build,” a press release explains.
The London-based business claims it takes “a highly collaborative approach” with its partners for both its free-to-play and pay-to-play sports prediction games, by designing bespoke, socially responsible games “that target their specific needs and audiences.”
“Every game creates an enhanced in-play social experience, complementing the sport that players are watching live,” a statement reads. Network Gaming’s ongoing partnerships comprise operator Fitzdares, The Sun’s fantasy football offering of Dream Team, and sports radio station talkSPORT.
While Network Gaming’s product suite thus far showcases games for soccer, horse racing and golf, this investment round is set to drive global growth -with plans to scale to North America and Asia- and deliver more proprietary games across an expanding lineup of sporting events. These include NFL, NBA, MLB, and the 2022 FIFA World Cup.
“We give customers the experience of a game, not just a bet,” said Harry Collins, CEO at Network Gaming. “Moving up or down a leaderboard right until the final seconds of an event offers a different type of excitement to betting, one where enjoyment comes from competing against friends or other sports fans in a rollercoaster ride.”
“We’re delighted to have an industry trailblazer like Andrew advising us on fresh ideas and to have the support of other experienced innovators for this step-change in Network Gaming’s evolution,” added the executive.