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Kutt Secures $1 Million+ in Funding and Surpasses 10,000 Users

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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:

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  • 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.

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New KSA Campaign: Get Your Life Back on Track, Take a Gambling Break

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The Dutch Gaming Authority (KSA) launched a new awareness campaign to draw attention to the gambling stop. With the campaign “Pick up your life again, take a gambling stop,” KSA is aiming to increase attention to the risks of gambling and make the Cruks register more well-known.

Insights

The campaign is a follow-up to the pilot campaign from 2023. This pilot yielded many valuable insights, for example that more people are attracted to the word gambling stop. This name is therefore used in the new campaign.

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Positive effect

The campaign focuses primarily on young adults who (possibly) no longer have their gambling under control. That is one of the reasons why the campaign is largely running via social media instead of traditional (mass) media. The focus is on the positive effect that a gambling stop has on the life of a person with gambling problems. The powerful moments of young people who pick up their lives again can be seen in online videos, social ads and social posts (Google, YouTube, Meta and Snapchat).

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EGBA: Record Participation As European Safer Gambling Week Expands to 26 Countries

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The European Gaming and Betting Association (EGBA) announced record-breaking results from its fourth annual European Safer Gambling Week, held 18-24 November. The initiative – which included a social media campaign and events programme – demonstrated the broader European sector’s strengthening commitment to safer gambling through new levels of participation and expanded geographic reach.

The campaign saw record engagement with 195 partners actively participating – a 20% increase from 2023. Eight national gambling authorities participated, more than double the previous year, by either joining the social media campaign or speaking at the various events.

The campaign’s reach also expanded significantly to 26 countries – a 30% increase from 2023 – with partners in Croatia, Serbia, Slovakia and Ukraine joining for the first time, reflecting the growing pan-European dimension of the campaign. This was helped by social media graphics being made available in the local languages of 27 countries.

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The social media campaign reached 3.1 million users across Facebook, Instagram, LinkedIn and X platforms, generating 1169 social media posts – a 67% increase from the previous year.

A cornerstone of this year’s campaign was its comprehensive events programme, featuring 20 specialised events – an 11% increase from 2023. The events attracted record participation with 4500 registrations and 3000 attendees. Key discussions explored trends in AI, problem gambling prevalence reporting and innovations in safer gambling tools and messaging. The events featured 105 speakers, including senior representatives from gambling authorities in Belgium, Denmark, France and the UK.

The initiative builds on EGBA members’ year-round commitment to safer gambling, which in 2023 resulted in 67 million safety messages sent to their European customers. This dedicated week amplifies these ongoing efforts while encouraging greater collaboration between operators, regulators and harm prevention organisations.

“The success of this year’s edition reflects the sector’s deepening commitment to player protection. The significant increase in participation, especially from health organisations and regulatory authorities, demonstrates the common purpose and growing unity in our approach to safer gambling. Through this collaboration, we’ve reached a record number of Europeans with crucial safety messages during the campaign. Together, we’re making gambling safer and we already look forward to building on this success in next year’s edition,” said Maarten Haijer, Secretary General of EGBA.

The post EGBA: Record Participation As European Safer Gambling Week Expands to 26 Countries appeared first on European Gaming Industry News.

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CT Gaming to Participate in ICE Barcelona 2025

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CT Gaming is going to participate in ICE Barcelona 2025, which will take place from 20 to 22 Jan 2025.

“It is always a pleasure to kick off the year at ICE. This year is particularly special as we explore a new location, which we anticipate will bring fresh connections and exciting opportunities,” said Biser Bozhanov, Director of Business Development and Strategies at CT Gaming.

Positioned at stand #3C56, CT Gaming will present an impressive lineup of its signature products alongside exciting new additions, including the multigame Diamond King 4.

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“We are eager to showcase our latest offerings and engage with clients, colleagues, and industry professionals to gather their valuable feedback. This year’s selection is a strong testament to CT Gaming’s enduring legacy and commitment to excellence,” added Bozhanov.

Among the products displayed at stand #3C56 will be the slot cabinet NEXT, known for its ultimate comfort and functionality. This cabinet comes with 27″ or 32″ high-definition screens, an optional premium stand, a USB phone charger, a bill validator with a stacker and an enlarged CMS panel for seamless operation. Other representatives from the slot cabinet family are EZ Modulo 32/32/32 and EZ Tower. Both of these cabinets combine sleek designs with advanced technology set to deliver an unparalleled gaming experience.

Alongside the slot cabinets, the company will showcase its staple multigame titles, such as Diamond King 3, Mermaid’s Quest, Tower Link and the newest addition to the multigame portfolio – Diamond King 4. With 40 exciting games, 20 of which are linked to a progressive jackpot, the multigame takes player engagement to new heights. Unlike previous versions, players can now win any of the three jackpot levels directly from the base game, while the cascading white and pink diamonds promise thrilling rewards at every turn. Designed with the next generation of players in mind, Diamond King 4 features enhanced graphics, modern themes and an immersive experience that’s perfectly in sync with today’s gaming landscape. The newly conceptualized linked progressive jackpot, Diamond Tree Deluxe, presents an elevated reward experience with its upgraded features.

Last but not least, CT Gaming will unveil the latest updates to its Casino Management System – Rhino, designed to enhance operator functionality and player engagement.

The post CT Gaming to Participate in ICE Barcelona 2025 appeared first on European Gaming Industry News.

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