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.
The American Gaming Association (AGA) announced the Gaming Hall of Fame Class of 2026, recognizing four individuals whose careers have profoundly shaped the legal gaming industry:
• Holly Gagnon, Board Member, Bragg Gaming Group
• Bill G. Lance, Jr., Secretary of State, Chickasaw Nation
• Scott Olive, Principal & Founder, HRG Studios
• Timothy J. “Tim” Wilmott, Retired Chief Executive Officer, PENN Entertainment
“The Gaming Hall of Fame recognizes the individuals whose vision, innovation, and dedication have helped shape today’s legal gaming industry. Holly, Bill, Scott, and Tim have each left a lasting mark through decades of service and leadership. Their contributions have set a high standard for those who follow,” said AGA President and CEO Bill Miller.
“This year’s inductees reflect the remarkable breadth of the gaming industry – from commercial and tribal gaming operators to suppliers. Each of them has helped advance gaming in significant ways, and we’re proud to welcome them to the Gaming Hall of Fame,” said AGA Chairman Lou Jacobs.
Since 1989, the Gaming Hall of Fame has celebrated the achievements of industry legends who have driven the commercial and tribal gaming industry forward. The Class of 2026 will be formally inducted at an invitation-only ceremony during the Global Gaming Expo (G2E) in Las Vegas this fall.
This year’s selection committee members include:
• Eric Schippers, SVP, Public Affairs & Government Relations, PENN Entertainment Inc.
• Mark Fulton, President, Cherokee Nation Entertainment
• Trevor Croker, CEO & Managing Director, Aristocrat Technologies
• Sherri Sosa, SVP, Human Resources, Hard Rock Las Vegas Hotel & Casino
• Mark Lipparelli, Chairman Emeritus, International Center for Responsible Gaming
• Kirsten Clark, Executive Director, IAGA
• Siobhan Lane, Executive Vice President & Chief Executive Officer, Gaming, Light & Wonder; Chair, Global Gaming Women
• Dr. Brett Abarbanel, Executive Director, UNLV International Gaming Institute
• Lou Jacobs, Co-CEO, Delaware North; Chairman, AGA
About the 2026 Inductees:
Holly Gagnon, Board Member, Bragg Gaming Group
Holly began her 34-year gaming career on the opening team of Foxwoods Resort Casino in 1992, at the birth of modern tribal gaming in America. She went on to hold senior financial and operational roles at Caesars Entertainment and MGM Resorts International before serving as President and CEO of Pearl River Resort, CEO of Chumash Enterprises for the Santa Ynez Band of Chumash Indians, and CEO of Seneca Gaming Corporation for the Seneca Nation of Indians. Named NAFOA Executive of the Year in 2016, Gagnon is a recognized champion of tribal economic development. As a founding member of Global Gaming Women and Distinguished Fellow at the UNLV International Gaming Institute, she has helped develop more than 300 gaming executives. She currently serves as a board member of Bragg Gaming Group.
Bill G. Lance, Jr., Secretary of State, Chickasaw Nation
Bill has served the Chickasaw Nation for decades in senior leadership roles spanning commerce, healthcare, and governance. As Secretary of Commerce for more than thirteen years, he oversaw more than 60 gaming, hospitality, retail, media, manufacturing, and tourism businesses employing approximately 7000 people. He also served as Administrator of the Chickasaw Nation Health System, overseeing construction of the 370,000-square-foot Chickasaw Nation Medical Center in Ada, Oklahoma. Lance currently serves as Secretary of State, representing the Chickasaw Nation in civic, business, and governance capacities.
Scott Olive, Principal & Founder, HRG Studios
Scott is one of the most influential game designers in the history of the slot machine industry. His career spans more than three decades, beginning at Aristocrat Gaming in 1997, where he helped drive the adoption of penny and Australian-style slots in U.S. gaming markets. After co-founding True Blue Gaming in 2007, Olive established HRG Studios in 2012, where he went on to create some of the most commercially successful slot titles ever produced.
Timothy J. “Tim” Wilmott, Retired Chief Executive Officer, PENN Entertainment
Tim spent more than three decades as one of the gaming industry’s most respected operational leaders. He served as Chief Executive Officer of Penn National Gaming from 2013 until his retirement in 2019, having previously served as President and Chief Operating Officer from 2008 to 2013. Before joining Penn National, Wilmott served as Chief Operating Officer of Harrah’s Entertainment and Division President of its Eastern Division, holding a series of leadership positions at Harrah’s properties dating back to 1988.
The post AGA Announces Gaming Hall of Fame Class of 2026 appeared first on Americas iGaming & Sports Betting News.
The operator-facing series runs 29 June to 13 September and uses Mystery Drop and Mystery Multiplier Drop mechanics.
Wazdan will launch a summer-long Network Promotion series for partner casinos, running from 29th June to 13th September. The campaign is structured in three stages with breaks between each phase.
The promotion will use Wazdan’s Mystery Drop
and Mystery Multiplier Drop mechanics. The supplier said the programme is designed to be easy for operators to activate and will be supported with marketing materials, including promotional assets, brochures and newsletter content for partners to use across their own channels.
Alongside the promotion, Wazdan has a summer content roadmap with three slot releases scheduled: Mighty Hot: Amazonia (30th June), Magic Fruit$: Cherries (30th July) and Mighty Crown: Empire of Gold (6th August).
Radka Bacheva, Head of Sales and Business Development at Wazdan, said: “Summer presents a valuable opportunity for operators to keep engagement levels high, and this promotion has been designed to deliver exactly that through Wazdan’s proven promotional tools.
“Combined with our upcoming game releases, we are excited to offer partners a strong seasonal campaign with plenty of player appeal.”
The post Wazdan schedules three-stage Network Promotion campaign for summer appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
ICONIC21 has rolled out three limited-edition Football Cup-branded casino games and launched its first network tournament, ICONIC Showdown Football Cup, running from 9th of July to 19th of July.
The new titles are Football Cup Roulette, Football Cup Blackjack 360, and Football Cup Gravity Blackjack. ICONIC21 said the releases showcase different customisation approaches, including green screen production for the roulette environment and an updated visual rebrand for its RNG blackjack table.
For Football Cup Gravity Blackjack, ICONIC21 said it used its latest LED technology and applied the Gravity Series multiplier mechanic, with a custom felt, a football gate, and bespoke 3D-printed decorations.
Alongside the three new games, ICONIC21 pointed to its previously launched slot Soccer World Championship, plus The Kickoff and Top Card, which it said received football-season branding and UI/UX updates.
The ICONIC Showdown Football Cup tournament covers 11 games in total and is positioned around the quarter finals, semi-finals and final period. ICONIC21 said 1,000 winners will share a €50,000 prize pool, and operators can enroll via their account manager or by contacting the company directly.
Edvardas Sadovskis, Chief Product Officer at ICONIC21, said:
“What I’m most proud of with this project is the turnaround. We built three fully branded, technically distinct games, enhanced existing ones with promotional branding, and launched our first-ever network tournament around them, all timed to coincide with peak player interest and traffic.
That kind of speed doesn’t happen by accident, it reflects how this team works. ICONIC Showdown is a meaningful first step for us as a provider, and launching it during the Football Cup, with this much energy around the game, feels like the right way to do it. We’re genuinely excited to see how the leaderboard shapes up and even more excited for the finals.”
The post ICONIC21 launches Football Cup-branded casino games and debut network tournament appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
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