Industry News
Kutt Secures $1 Million+ in Funding and Surpasses 10,000 Users
Kutt, the leading social betting platform, announced that it closed the first quarter of 2024 with a successful fundraise of over $1 million and that it has surpassed the 10,000 user mark. The company also commissioned a study of 1000 bettors that clearly defines what social betting is and what users want — further cementing its ownership of the space.
“Betting has been a social activity for thousands of years, so it’s no surprise that consumers want the ability to facilitate and track wagers against their friends. If anything, bettors unquestionably prefer a more curated, social experience — they want to be part of a wider community and to be part of the conversation around sports, entertainment, and important events,” Sim Harmon, CEO and founder of Kutt, said.
While sports betting has boomed across the country since the Professional and Amateur Sports Protection Act (PASPA) was overturned in 2018, established gambling companies have largely stuck to the tried-and-true format sportsbooks have been using for decades — traditional sports bets against the house. But consumer desire to experience more has increased as the betting industry has matured, with 82% of bettors interested in wagering directly against their friends and other individuals through a decentralized platform, according to Kutt’s recently commissioned survey.
The survey found that, in addition to Kutt’s traditional offerings, an overwhelming majority of bettors (80%) are interested in wagering on non-sporting events, with 77% wanting to bet on entertainment, 62% interested in wagering on politics, and 60% with a desire to bet on life events. Kutt allows users to wager with friends on any event with publicly verifiable results, making it the ultimate “put your money where your mouth is” destination for fans. The survey also shed light on some compelling aspects and trends among current bettors, including:
- A higher percentage of bettors surveyed placed a wager with a friend in the past year (61%) vs. a sportsbook (60%)
- More than half of U.S. bettors (54%) have betting group chats with friends
- A majority of U.S. bettors (60%) text their friends about the progress of a bet while watching a game.
Adding further validity to the findings of the survey and the demand for a real-money social betting experience is Kutt’s recent $1 million+ institutional fundraise, led by Lightning Capital, a firm that invests in digital assets and online communities. The investment will fuel initiatives aimed at growing the Kutt community, enhancing user experiences, and expanding betting markets.
“We look for emerging companies in high-growth industries to invest in. Kutt’s enthusiastic user base, rapidly growing partnership portfolio, and their differentiated product offering were very attractive to us. We are eager to help them continue to define and own the social betting space,” Jock Percy, General Partner at Lightning Capital, said.
Behind The Gloves has formed an official Advisory Board as it moves from event-led activations to what it describes as a scalable, long-term business and community.
The board includes Michael Brady, Founder and Chairman of Bede Gaming and Chairman of Connexus Group; Rob Fell, CEO of RiskCherry; and Katie Byers, former SVP of People and Capability at Light & Wonder.
According to the organisation, the appointments are intended to support expansion into new verticals including corporate wellness programmes, brand partnerships and future digital products.
Behind The Gloves said it plans to continue operating as a “business for good” by reinvesting a portion of profits into community initiatives and charitable causes.
Lee McFarland, Founder of Behind The Gloves, said: “The foundation of our Advisory Board reflects Behind The Gloves’ commitment to building a strong business that can expand globally and reach more people than ever.
“We’re thrilled to welcome Katie, Rob and Michael to the Board and look forward to leveraging our industry’s unmistakable energy to support good causes and deliver accessible activities for all fitness levels on a larger scale.”
The post Behind The Gloves forms Advisory Board to scale beyond event activations appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
LuckyCasino has gone live in Spain, LCKY Group confirmed, marking the brand’s entry into the regulated market.
The operator said LuckyCasino is the second brand in the LCKY Group portfolio to operate in Spain, following OneCasino. The company positioned the launch as part of its long-term growth plans and noted the brand has previously operated in Sweden.
LCKY Group said the Spanish-facing offering includes more than 2,000 games, alongside localised offers and payment methods. It also claimed the catalogue includes “many LuckyCasino exclusives.”
Mark Schram, MD B2C Central & South Europe at LCKY Group, said: “Everyone at LuckyCasino is looking forward to showing off the mix of variety and innovation that’s made our platform such a huge hit elsewhere.
“With Spain being a key market for us going forward, we’re excited to build on the success LCKY Group has already enjoyed in the country with OneCasino, and we expect our vast selection of content will prove hugely appealing for Spanish customers.”
The post LuckyCasino launches in Spain as LCKY Group expands B2C footprint appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Evoplay has launched Season of Legends, a year-long network campaign built around four seasonal phases, starting with a spring edition carrying a €512,000 prize pool. The spring phase launched in March and runs across March, April and May.
The studio said the new format follows its previous Big Adventures network campaign and is designed to drive sustained engagement through a more structured seasonal approach. Each season runs for three months with new mechanics and prize pools.
A new mechanic, Infinity Prize Drops, will run daily throughout each month and is not tied to tournament windows. The spring edition also includes a Tournament and Wheel of Fortune, each operating in four monthly phases: 1st- 5th, 9th- 13th, 17th- 21st, and 25th- 29th.
Evoplay said the €512,000 spring prize pool will be distributed across the three-month period via a consolidated leaderboard spanning participating operators. Players earn points through qualifying spins on selected Evoplay titles including Hot Triple Sevens, Piggy Bank: 3 Pots Bonanza, and the Penalty Shoot-out series.
Diana Larina, Head of Marketing at Evoplay, said: “Season of Legends marks the next evolution of our network campaigns. With Big Adventures, we saw just how effective long-term engagement can be, and this new format takes that even further.
“By introducing seasonal structure and mechanics like Infinity Drops, we’re giving operators the tools to maintain consistent player activity, rather than relying on short-term spikes. This is just the beginning, and we’re excited to build momentum throughout the year.”
The post Evoplay rolls out Season of Legends campaign with €512,000 spring prize pool appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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