Slick localized buying experience, innovative approach to fraud and automated local gaming trend detection contribute to Eneba’s status as a preferred marketplace for gaming community with stratospheric growth to 26M users
Eneba (www.eneba.com), the world’s fastest growing marketplace for gamers, has today announced that it has raised a total of $8M led by Practica Capital and InReach Ventures, the AI-powered venture capital firm, with contribution from FJ Labs and a group of established Angel investors including Mantas Mikuckas, COO of Vinted.
Launched in 2018 by two Lithuanian school friends, Vytis Uogintas and Žygimantas Mikšta, Eneba provides a marketplace for gamers to safely purchase everything they need for the world’s most popular games. Combining an unrivalled buying experience with superior proprietary security features, Eneba has already attracted a community of 26 million unique users.
Operating under the radar until now, Eneba has quickly made an impact in the gaming sector thanks to its new approach, where previously others have not innovated. Eneba presented the market with a superior ‘one-click buy’ gamer experience and a faster, more secure service by using proprietary machine learning and fingerprinting technology.
The team also created localised gaming experiences that proved an immediate hit with gamers by using automatic optimising discovery tools for locally trending gaming products.
As COVID-19 struck Eneba was already growing fast, but, with an increased shift to digital entertainment, the startup experienced exponential growth and an increased interest from US gamers; now the company’s fastest growing geography.
“We had a lot of new users coming to Eneba during these uncertain times. While it was extremely satisfying to see our numbers increasing tenfold, there was a challenge to meet the demand. To better reflect our user numbers, we had to quickly expand our team,” said Co Founder and CMO, Žygimantas Mikšta. “We now have a 130-strong team of brilliant software developers, risk analysts and marketing experts that have built a delightful experience for 26 million consumers across multiple geographies such as the UK, Germany, Lithuania, Spain, France, Poland, and other European countries.”
As the startup grew, there were many challenges for the company in order to maintain its new found momentum. Vytis Uogintas, CO Founder and CEO said that rapid organization growth has been one of the biggest to date. However, he also emphasizes that Eneba’s breakthrough has been determined by the team.
“Finding people you can trust and who share your vision is not easy. However, we had plenty of contacts from our previous ventures that kickstarted the whole process. Right from the get-go, we were emphasizing our company culture as our top priority. For me, it’s much more enjoyable to see happy colleagues and when they’re happy, it’s easier to communicate with them and reach desired goals.”
Eneba will use its funding to accelerate investments in product development making the platform faster, safer and easier to use, and to expand further in the US and across other key global markets. To prepare for this roll-out, Eneba has developed its own risk management system. The new system was developed in-house to better fit the company’s goals. It eliminates many risky transactions, simplifies the refunding process, and blocks majority fraud threats, thus making Eneba stand as one of the safest marketplaces on the internet.
“We are thrilled to be backing Vytis and Žygimantas. We’ve been impressed by their ability to execute at such speed as their company quickly scales, and to drive an incredible product with a unique value proposition for gamers. It also could not have come at a better time. We are excited to support one more team from the Baltics that has a clear ambition to lead their sector globally,” said Donatas Keras, partner at Practica Capital.
Co-founder of InReach Ventures, Roberto Bonanzinga, said “In Europe we have a tradition of building successful companies in the gaming space. We are very excited to have discovered Eneba thanks to our AI platform when the company was unknown and under the radar. We have been extremely impressed by what the founders have been able to build in such a short amount of time.”
Powered by WPeMatico
Everi’s Michael Rumbolz Elected American Gaming Association Chairman
The American Gaming Association (AGA) board of directors elected Michael Rumbolz, Executive Chair of the Board of Everi Holdings Inc., as the association’s new chairman. He will succeed Hard Rock International Chairman and Seminole Gaming CEO Jim Allen, who has served as AGA chairman since January 2022. Rumbolz begins his two-year term in January 2024.
“I am grateful for the opportunity to help shape gaming’s future as the AGA’s next chair,” said Rumbolz. “From stopping illegal gambling to evolving responsible gambling, the AGA is tackling transformational issues and I am eager to build on the progress made during Jim’s tenure.”
Working from a busboy to the c-suite, Rumbolz’s career spans all levels and aspects of the gaming industry with experience encompassing gaming equipment manufacturing and distribution; hotel and casino operations; casino fintech; digital gaming; and gaming legislation and regulation. Rumbolz previously served as President and CEO of Everi, Member and Chairman of the Nevada Gaming Control Board, and Chief Deputy Attorney General of Nevada.
“It’s an honor to welcome Mike—an industry legend in his own right—as the next AGA chairman,” said AGA President and CEO Bill Miller. “Mike’s career as an operator, manufacturer and regulator is unparalleled and will be vital to driving meaningful progress on industry priorities.”
During Allen’s tenure as chairman, the AGA supported the industry’s record-setting COVID recovery while working to evolve the industry’s approach to responsible gaming and launching a new effort to stop illegal gambling.
“Jim’s knowledge, insight and guidance have helped the AGA advance our mission and maximize our impact for the industry. He’s been a trusted advisor to me, and I am thankful for his partnership over the last two years,” Miller continued.
“Our industry and this association have never been stronger. I am immensely proud of our success over the last two years accelerating gaming’s recovery while defining and advancing new priorities,” said Allen. “The AGA is well-positioned under Mike and Bill’s leadership.”
Lionel Messi and Inter Miami effect make 2023 most popular MLS season on record
Number of bets on MLS increase 33% compared to 2022; Lionel Messi increases global appeal of MLS to drive betting growth
The arrival of global soccer superstar Lionel Messi to Major League Soccer (MLS) has had an unprecedented impact on the US soccer league’s popularity and betting engagement around the world, according to new data from leading sportsbook provider Kambi, with 2023 becoming the most bet on MLS season ever.
Ahead of the 2023 MLS Cup this weekend, network data from Kambi’s global partner network reveals that the 2023 MLS season witnessed a 33% increase in bets compared to 2022, fuelled by Messi’s mid-season arrival in July at Inter Miami CF which became the most bet on MLS team of the year.
The surge in popularity of Inter Miami, which is co-owned by former England captain David Beckham, saw them jump from the 15th most bet on team in 2022 to the most popular this season, one place above Los Angeles FC which play Columbus Crew in the MLS Cup on Saturday. The number of bets on Inter Miami were 44% higher than those of Los Angeles FC, while Inter Miami were involved in eight of the top 10 games this season.
The arrival of international soccer superstars such as Messi, winner of a record eight Ballon d’Or awards and recently named Time Magazine’s Athlete of the Year for 2023, has also given the MLS a global platform, particularly in Latin America where Kambi has seen strong betting growth in markets including Messi’s home country of Argentina which saw bets increase 135% compared to 2022.
Jonathon Hurst, Kambi’s Head of Soccer, said: “The arrival of Lionel Messi to the MLS has been a landmark moment for the league and it’s looking even more likely he will soon be joined at Inter Miami by former Barcelona teammate Luis Suarez. Messi’s global appeal and star power have captured the attention of fans worldwide, and this has translated into a significant increase in betting engagement on MLS matches.”
Messi is already the most bet on player in the MLS of the last four years, quickly catching up with Zlatan Ibrahimović and Carlos Vela as the most bet on player in the MLS of all time. The number of bets on Messi in 2023 are 140% higher than that of Los Angeles FC winger Denis Bouanga who is in second place.
For additional MLS 2023 season insights, visit Kambi’s News & Insights page
Consumers optimistic about 2024 financial outlook, as Paysafe research reveals shifts in spending and saving habits
After a challenging 2023, nearly half (49%) of consumers worldwide are confident that their financial situation will improve in the coming year. This is according to new research from Paysafe (NYSE: PSFE), which reveals a consumer landscape characterized by a mix of optimism, caution, and a willingness to adapt spending habits.
The research surveyed 14,500 consumers across Europe, North America, and Latin America for Paysafe’s Lost in Transaction 2023: The Disposable Income Report – How consumers are changing their discretionary spending.
Optimism is particularly pronounced among Millennials and Generation Z, with 57% of each group expressing confidence in their near-term financial future. However, consumers acknowledge improvement will require more proactive measures as they manage high living costs and their money differently – with one in two (50%) intending to alter their spending habits. In terms of discretionary spend, the research also indicated that a growing proportion of consumers are prioritising in-home entertainment (23%) more than before, with nearly a third saying they will spend less on clothing (32%).
Conversely, over a third of consumers (37%) admitted to saving less due to rising living costs or not saving at all (18%). Despite this, 47% believe they will be able to save more in the coming year.
In response to the changing financial landscape, more are turning to budgeting tools and apps for assistance. These apps are primarily used to plan how to save as well as how to balance various expenditures and how to better manage discretionary spending. A substantial 55% of respondents said they already use these apps, and 38% plan to increase their reliance on them in 2024.
Furthermore, the research reveals a shift in how consumers plan to allocate their disposable income. Over two-fifths (42%) are opting to spend less on physical goods, instead prioritizing spending on experiences, even as costs rise. This is especially so in Brazil (52%) and the US (51%), but less common in Austria and Germany (29%).
This shift to increasing spend in the experience economy is reflected in consumer attitudes to travel, which should maintain its upward trajectory as 43% are planning on spending more or the same on package holidays, and 41% on flights. While budgets have tightened, spending on online sports bets (18%) and in-game purchases (19%) have remained the same before inflation and the cost-of-living crisis.
Regarding online spending over the past six months, 31% expressed no preference between large and small eCommerce businesses. As consumers navigate an evolving economic environment, businesses, whether they may be small or big, should pay attention to shifting trends and tailor their offerings to meet the changing needs and expectations of their customers.
An ongoing concern in the online shopping experience continues to be security. There is clear reluctance among many to share financial details online, with only 43% comfortable doing so with a small business versus 56% with a large one. Small businesses must resolve these security challenges to take advantage of positive signs for next year given some 42% intend to shop more at local businesses in 2024.
Commenting on the research, Rob Gatto, Chief Revenue Officer at Paysafe, said: “Consumers will prioritise discretionary spend on goods and experiences that bring them joy. This is a consistent trend that is clearly supported by our research. For businesses, large or small, to capitalise on this, it means making every experience, and every transaction count. By offering a frictionless checkout experience, businesses increase customer experience and loyalty.”
- Everi’s Michael Rumbolz Elected American Gaming Association Chairman
- Lionel Messi and Inter Miami effect make 2023 most popular MLS season on record
- Consumers optimistic about 2024 financial outlook, as Paysafe research reveals shifts in spending and saving habits
- Scientific Games Launches New South Carolina Education Lottery Players’ Club Rewards Program
- Expanse Studios Forges Super Prospective Media Partnership with SlotsOnlineCanada.com
- UNITED KINGDOM TO HOST 2024 PUBG MOBILE GLOBAL CHAMPIONSHIP
- New Year’s Eve at Harrah’s Cherokee Casino Resort and Harrah’s Cherokee Valley River Casino and Hotel
- FBM Brings Mythic Link Adventures to the United States
- Blaze Roulette Chosen for Casino Barriere Montreux’s GAMRFIRST Live Online Casino
- NetBet Casino joins forces with Amatic
- Week 49/2023 slot games releases
- BGAMING RELEASES FESTIVE BUNDLE OF SLOTS AHEAD OF CHRISTMAS PERIOD
- Xsolla and GamesBeat Announce Global 2024 Tour Partnership
- Everi’s Michael Rumbolz Elected American Gaming Association Chairman
- For Fox Sake! Hölle Games launch new title in “Reel” series
Balkans7 days ago
Amusnet Took Part in the Official Celebration of the 25th Anniversary of BBLF
BettorView7 days ago
NorthStar Announces New Partnership Agreement with BettorView
Balkans7 days ago
EGT Digital’s Jackpot Top Seller Clover Chance is Live on Everbet
Eastern Europe7 days ago
7777 gaming goes live on Superbet, Romania’s premier online operator
Baltics7 days ago
PopOK Gaming games are now certified for Lithuania
Arena Esportiva7 days ago
Xtremepush Partners with Vibra Gaming to Accelerate Growth in Latin America
Compliance Updates7 days ago
Videoslots awarded Swedish licence extension
Balkans5 days ago
EGT Digital’s X-Nave Won the “Online Platform of the Year” Prize from BEGE Awards 2023