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Smarkets raises Series B funding round to supercharge international and domestic growth

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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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ELA Games

ELA Games Unveils Tea Party of Fortune — A Magical Multiplier Experience

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The newest release from the studio offers a multi-faceted Hold & Win experience wrapped in a charming fairytale theme.

ELA Games has officially launched its newest slot, Tea Party of Fortune. Now accessible throughout the studio’s complete partner network, this story-driven title welcomes players into a Secret Garden where engaging mechanics blend with a beloved fairytale theme.

The studio is building a name for itself by creating games centered around a cohesive narrative, and Tea Party of Fortune aligns with that goal. Brought to existence by a delightfully quirky ensemble, featuring the Mad Hatter and the Red Queen, the game creates a richly layered ambiance resonating with the sounds of chiming china and intrigued laughter.

The game exemplifies ELA Games’ skill in merging high-quality art with clever game design. The core game is notable for its progression system, the Overflowing Teacup, which enables players to see the path to the bonus round with every spin.

The visual appeal embodies the enchantment of a traditional storybook, while the gameplay provides action rich in features. The title focuses on an engaging Hold & Win Bonus Game, crafted to provide greater complexity than typical games in this favored genre.

During this round, uniquely colored tea-coins activate the cup’s enchantment, enabling several features to trigger in one spin:

● Grid Expansion: The Curious Growth coin expands the reel set from 5×3 to 5×5.
● Win Boosting: Mad Multipliers increase the value of existing prizes.
● Bonus Round Extension: The Extra Respin coin prolongs the bonus round.

Game Stats:
● Reels: 5×3 (Expands to 5×5)
● Paylines: 10
● RTP: 93.75% / 95.73%
● Volatility: Mid (3/5)
● Max Win: x5,000 (€250,000)
● Buy Bonus: Yes

The post ELA Games Unveils Tea Party of Fortune — A Magical Multiplier Experience appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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3 Oaks Gaming

3 Oaks Gaming Partners with Superbet Group to Drive International Expansion

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3 Oaks Gaming, a prominent iGaming content distributor, has greatly expanded its global presence by debuting its portfolio with Superbet Group, a top operator in Europe and South America.

The deal allows the operator group’s leading Superbet brand in Brazil and Romania to access 3 Oaks Gaming’s entire range of top-performing slot games, featuring recent successes like Coin Volcano 2, Maya Lock, and Magic Clovers.

Mirroring 3 Oaks Gaming’s expanding global strategy, the collaboration showcases the distributor’s capacity to provide its celebrated content concurrently in various regulated markets.

Superbet has positioned itself as a significant player in both regions, integrating a vast retail network with a robust online presence to gain a reputation for providing top-notch and responsible betting and gaming experiences.

The collaboration bolsters 3 Oaks Gaming’s dedication to teaming up with reputable, established operators that align with its emphasis on quality, compliance, and engaging local players.

Iulian Nedelcu, Account Manager at 3 Oaks Gaming said: “Partnering with Superbet marks another exciting step in our international growth journey. As one of the most recognisable brands in Romania and Brazil, Superbet provides an excellent platform to showcase our portfolio to an even wider audience in two key regulated regions.

“We are confident our games will resonate strongly with their player base and look forward to a successful collaboration across both markets.”

Raluca Varzaru, Senior Gaming Performance Executive at Superbet said: “At Superbet, we are constantly looking to enrich our casino offering with quality content that entertains and engages players. 3 Oaks Gaming’s portfolio brings proven performance and diversity to our platforms, supporting our vision to provide a first-class gaming experience in every market we operate in.

“We are delighted to welcome their titles to our casino and look forward to seeing the positive response from our players.”

The post 3 Oaks Gaming Partners with Superbet Group to Drive International Expansion appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Booming Games

Treasure Hunt Revival — Booming Games Launches Gold Gold Gold Hold and Win

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Booming Games, a top supplier of high-quality gaming content, has introduced Gold Gold Gold Hold and Win today. The game features a 5×3 layout with 25 paylines, offering significant risks with a top payout of 2,000 times the wager. Offering instant cash prizes at the end of each spin, Gold Gold Gold Hold and Win delivers an exceptional experience for players in search of high-stakes excitement.

The game includes a variety of bonus features. Landing six or more coin symbols activates the Hold and Win bonus, initiating a high-stakes re-spin round. Beginning with three re-spins, each additional coin resets the re-spin total, continuing the round. The opportunity to win immediate cash rewards, including Mini, Major, or Grand bonuses that can reach up to 1000 times the total wager, significantly enhances the thrill of the game.

In addition, players who hit three Scatter symbols will receive eight Free Spins. From this point onward, only premium symbols show up on the reels, including Wilds, Bells, Stars, Gold Bars, and Clovers. Featuring only high-paying symbols, each spin is designed to enhance the likelihood of securing significant combinations, and Free Spins can be retriggered, generating payout possibilities with every spin.

Craig Asling, Director of Games at Booming Games, said: “The treasure hunt is on. With a golden chance to strike it rich, Gold Gold Gold Hold and Win is our latest must-play slot. With thrilling bonus features that keep the action going, players can enjoy the potential to unlock massive returns and feel that they are always one spin away from striking gold.”

The post Treasure Hunt Revival — Booming Games Launches Gold Gold Gold Hold and Win appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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