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Smarkets raises Series B funding round to supercharge international and domestic growth
Smarkets, one of the world’s largest betting exchange and prediction market platforms, has announced the closing of a significant minority investment from Susquehanna Growth Equity (SGE).
Having raised just £3.8m ($5.4m) since its inception in 2008, with its Series A round coming back in 2013, Smarkets has built a leading exchange platform that processes billions of pounds in traded volume each year. The company has offices in London, Los Angeles, and Malta, licensed customer-focused operations in five countries, and in 2019 released innovative sportsbook app SBK.
Smarkets is delighted to welcome SGE, which joins existing investors Passion Capital and Deutsche Telekom in supporting the company’s mission to fix betting with the fairest odds in the industry.
This new investment will allow Smarkets to accelerate its rollout in the US, where it is already live in Colorado with sportsbook app SBK and set to go live in Indiana soon. The funding will also bolster SBK’s position in the UK mainstream betting market after its successful launch in August 2019.
The new investment will contribute to:
Furthering the company’s US presence, including market-access deals in new, regulated states
Capturing an even greater share of the UK betting exchange market and accelerating SBK’s growth in the UK’s mainstream sportsbook market
Expanding Smarkets’ development of new products for customers and focus on industry-leading prices on sports, politics, and current affairs
Continuing to capture the best and brightest worldwide engineering talent with a view to doubling headcount by the end of 2022
Further expansion into new and recently entered markets such as Denmark and Sweden
Jason Trost, founder and CEO of Smarkets, said:
“This is an incredibly exciting day. I’ve always been amazed what the passion and energy of a comparatively small group of committed people can accomplish against much bigger rivals; Smarkets and SBK are the product of exactly that. At Smarkets we have always been guided by our vision of fixing betting with the best prices and products, and SGE is just as excited as us to challenge the status quo. This is a huge endorsement of our technology and will allow us to further upend the industry by offering bets as close to fair value as possible.
“We are super proud of what we have achieved so far in the UK betting space, and this new investment will help take us to the next level and beyond in the UK, US, and other international markets. I’d like to thank the women and men that work and have worked at Smarkets for getting us to where we are.
“I truly believe the best is yet to come. This investment will allow us to fight with greater resources, move faster, and be bolder in our mission. We’re so excited about the opportunities this investment unlocks.”
Scott Feldman, Managing Director with Susquehanna Growth Equity, said:
“We are delighted to be able to join Smarkets on their upward journey. We immediately identified with their vision of using technology to take on the betting industry’s big operators by providing the fairest odds in the world and maintaining a clear focus on product excellence.
“Smarkets have achieved a huge amount with little investment to date and we can’t wait to see them go from strength to strength as they expand further into both the US and UK mainstream market.”
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Big Daddy Gaming
Big Daddy Gaming® signs with Yolo Group’s Hub88 to accelerate European distribution
The post Big Daddy Gaming® signs with Yolo Group’s Hub88 to accelerate European distribution appeared first on Gaming and Gambling Industry Newsroom.
Fortune Factory Studios
Games Global and Fortune Factory Studios wrap up 2025 with supercharged sequel Gold Blitz Express™
Games Global and its exclusive studio partner, Fortune Factory Studios, have launched a high-voltage finale to 2025 with Gold Blitz Express
, the latest iteration of its dynamic franchise.
Building on the proven popular foundations of its predecessors, Gold Blitz Express retains the titular cash collect mechanic and bonus choice, but amps up the sequel with a brand-new Blitz Express feature and deeper bonus progression.
The Blitz Express mechanic is activated when a train symbol lands on reel six on any spin. A train steams across the reels pulling up to 20 carts, with each awarding a cash prize or one of four fixed jackpots, the total value of which is collected and awarded.
The studio has also elevated Gold Blitz spins with the introduction of an Accumulation Trail, which collects each Blitz symbol that hits. Every third collected awards additional spins and an increasing multiplier, with up to 14 spins and a 5x maximum multiplier, surging win potential.
Supplementing the action further is the integration of Games Global’s Rising Rewards jackpot, where every coin boosts the prize pot up to 200x, which can be randomly paid out.
The Gold Blitz series continues to define industry trends from a player control perspective. In addition to the bonus choice and bonus buy options, a Win Booster doubles the likelihood of activating features, while Bonus Recharge offers an opportunity to purchase an extra spin following feature completion.
Gold Blitz Express represents the latest evolution of one of the industry’s most diverse, battle-tested game franchises, spotlighting Fortune Factory Studios’ continued commitment to creating products that perform.
Alexander Monsma, Team Manager, Game Sales at Games Global, said: “2025 marks the fourth consecutive year that we have unveiled a Gold Blitz game toward the end of December – it is the perfect way to ring in the new year.
“Gold Blitz Express is the most feature-rich upgrade to date, electrifying the environment with even more variety and potential.”
David Reynolds, Director of Games Strategy & Partner Management at Games Global, added: “The Gold Blitz brand remains one of the strongest franchises in our portfolio, and Gold Blitz Express builds on that success by extending the series with genuine depth. The introduction of new elements, such as the Blitz Express feature, feels like a natural evolution of the brand.
“It’s a fitting way to close out 2025, with the continued performance of the series reflecting Fortune Factory’s ability to create games with lasting appeal and sustained engagement. We can’t wait to showcase our upcoming lineup within this franchise and more as we enter 2026.”
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QuinnBet, a leading sportsbook and casino operator, has expanded its racing product through Pragmatic Play Sports to include new derivative racing markets, giving customers greater choice, flexibility, and engagement across a wide range of global racing events.
The new expansion, powered by Racing and Sports (RAS), introduces additional betting opportunities such as Betting Without the Favourite and Second Favourite, head-to-head and Money Back markets. These derivative markets form part of the broader Pragmatic Play Racing product, which delivers a premium, data-driven experience built on official pre-race and race-day data.
Through Pragmatic Play’s racing solution, powered by Racing and Sports, QuinnBet customers enjoy comprehensive global coverage across 20+ racing jurisdictions; live greyhound racing featuring over 100,000 live events from 80+ tracks; official pre-race and race-day data for accuracy and transparency; and a complete suite of live video streaming and enriched racing content including racecards, previews, and editorial insights.
Stephen Kelly, MD, QuinnBet, said: “Horse racing sits at the heart of QuinnBet, and we are always looking for ways to elevate our customers’ experience. Derivative markets bring a new level of strategy and excitement to horse racing betting, and we’re proud to deliver this enhancement in partnership with Pragmatic Play Sports and Racing and Sports. It reinforces our commitment to real horse racing fans and the continued evolution of our product.”
Gareth Crook, SVP of Sports at Pragmatic Play, said: “We were immensely proud to partner with QuinnBet earlier this year following their successful migration to our platform, and we are confident that this latest expansion of their racing product will help the QuinnBet team realise their ambitious growth plans now and into the future. QuinnBet users continue to enjoy a market-leading racing experience powered by official data through our partnership with Racing and Sports.”
Stephen Crispe, CEO, Racing and Sports, said: “We’re excited to see QuinnBet go live with Derivative Markets, powered by Racing and Sports, following a successful sportsbook platform integration with Pragmatic Play earlier this year. This marks another key step in our ongoing collaboration with Pragmatic Play to deliver market-leading racing content to sportsbook operators. QuinnBet is a perfect example of an operator providing an immersive, data-driven betting experience built on precision and innovation.”
The post QuinnBet Expands Racing Offering to include Derivative Racing Markets appeared first on Gaming and Gambling Industry Newsroom.
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