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.
GR8 Tech is implementing a series of platform-wide enhancements designed to help operators maximize performance during the year’s biggest sporting event. With the World Cup expected to drive massive traffic, repeated betting surges, and intense competition for player acquisition, these updates focus on the areas that most directly impact operator results. The improvements aim to help partners convert more traffic, retain more players, and extract greater value throughout the entire tournament journey.
“World Cup traffic by itself does not guarantee better results. What matters is how well operators can turn that attention into acquisition, conversion, retention, and long-term player value,” said Denys Parkhomenko, Chief Product Officer at GR8 Tech. “That is where our focus is right now. We are enhancing the sportsbook experience, expanding engagement and loyalty tools, and advancing our crypto capabilities to help partners make the most of the biggest opportunity of the year.”
Key Areas of Focus
1. Sportsbook
The sportsbook is receiving a comprehensive upgrade, including redesigned navigation for easier event discovery, improved campaign visibility, and enhanced Bet Builder functionality. Additional updates include quick-access, player-specific markets and new Odds Boost features, balancing player appeal with margin control.
2. Engagement and Retention
GR8 Tech is expanding its loyalty and bonus systems with a VIP-focused program, automated bonus mechanics, more flexible bonus selection, and enriched casino and sports-related engagement tools. The update also includes updated tournament settings and the introduction of new game content to enhance player retention.
3. Crypto
The company is strengthening its crypto offering with early-stage player segmentation based on wallet transaction history, more flexible VIP and risk management before first deposit, and smoother wallet-based payments, including ramp payments and direct top-ups via WalletConnect and other wallets.
Across the platform, these updates are designed to help operators capitalize on the World Cup’s peak traffic, delivering measurable improvements at every stage of the player journey. Detailed release notes will follow, highlighting specific product enhancements and the developments shaping GR8 Tech’s World Cup-ready platform.
GR8 Tech – Platform for Champions
GR8 Tech is an award-winning provider of high-performance sportsbook and iGaming solutions that empower operators to lead and win in competitive markets. Its portfolio includes Crypto Turnkey and Hyper Turnkey solutions, ULTIM8 Sportsbook, Infinite Casino Aggregation, and the proprietary affiliate management platform Aff.Tech.
With a geo-specific, operator-first approach, GR8 Tech delivers practical innovations that drive measurable results quickly and efficiently. Trusted by top operators worldwide, the company has over 100 successful deployments and multiple industry recognitions, including Platform Provider of the Year at the SBC Awards 2025.
The post GR8 Tech Unveils Major Platform Enhancements Ahead of the World Cup appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Jackpot.com announced the launch of Jackpot Rewards, a new loyalty program designed to reward players for their engagement with the platform. The program is the first loyalty program offered by a lottery courier tailored to the lottery industry. It allows customers to earn points on every order while unlocking special challenges, exclusive promotions, and other perks. Players can redeem their points to order more tickets and get more chances to win.
The program introduces a new layer of excitement and engagement for Jackpot.com customers, encouraging regular play while providing meaningful value through ongoing promotions and milestone achievements.
“Jackpot Rewards is an important step forward in how we reward and engage our players. Our goal has always been to build the most player-friendly lottery platform in the market. With Jackpot Rewards, we’re creating a differentiated experience where every order counts toward something bigger – whether that’s unlocking new promotions, completing challenges, or earning rewards just for playing,” said Akshay Khanna, CEO of Jackpot.com.
The program reflects Jackpot.com’s continued focus on enhancing the player experience through innovation and loyalty-driven features. By combining points accumulation with dynamic challenges and promotions, Jackpot Rewards introduces a gamified system that rewards engagement and builds deeper connections with players.
Jackpot Rewards will initially be available to players in Ohio, Massachusetts, Arkansas, Colorado, and Arizona, with additional markets expected to be added over time.
The post Jackpot.com Launches First of its Kind Loyalty Program, “Jackpot Rewards” appeared first on Americas iGaming & Sports Betting News.
The Association of Gaming Equipment Manufacturers (AGEM) announced that its membership elected a new Board of Directors at its 2026 Annual Meeting. AGEM Board Chair Ryan Comstock, Acting Chief Executive Officer at Ainsworth Game Technology, was not up for election as he transitions into the second year of his two-year term as Chair and led the meeting which approved one-year terms on the Board of Directors for:
• Elaine Hodgson, DIRECTOR (President / CEO, Incredible Technologies)
• Lauralyn Sandoval, DIRECTOR (Vice President of Gaming Strategy & Business Development, Aristocrat Gaming)
• Phil O’Shaughnessy, DIRECTOR (Vice President, Global Communications, Government Relations & Sustainability, IGT)
• Steve DiMasi, DIRECTOR (Senior Vice President of Global Government Affairs & Business Development, Light & Wonder)
• Randy Gilbert, SECRETARY (Chief Executive Officer, TableTrac)
• Thomas Jingoli, TREASURER (President & Chief Operating Officer, Konami Gaming).
The AGEM Board of Directors also approved one-year terms as ex-officio/non-voting members on the Board of Directors for:
• Cassie Stratford, EX-OFFICIO DIRECTOR (Senior Vice President, Legal Operations & Compliance–Boyd Gaming Corporation; Global Gaming Women Advisory Board Member)
• Bob Parente, EX-OFFICIO DIRECTOR & ASSISTANT TREASURER (Executive Vice President & Chief Business Development Officer, Light & Wonder).
The post AGEM Announces Board Of Directors Elected at 2026 Annual Meeting appeared first on Americas iGaming & Sports Betting News.
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