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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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Alibaba’s Cave of Fortune

PG Soft welcomes players into Alibaba’s Cave of Fortune

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PG Soft, a world-class digital mobile games company, is inviting players into Alibaba’s Cave of Fortune in the hope of discovering magical treasures.

Alibaba’s Cave of Fortune is a 5-reel, 3-row classic slot game that shines with a superb Bonus Feature and Coin symbols that can be collected by Collector symbols. Set within the fabled cave that radiates with golden promise, this title is brought to life by a captivating soundtrack that oozes mystery and adventure.

A Wild symbol substitutes for all symbols except Coin symbols and Collector symbols, and it can only appear on reels two, three, four, and five.

During the main game, Coin symbols and Collector symbols have the potential to land on any reels. If there is one or more Collector symbols and a minimum of one Coin symbol on the reels, each Coin symbol will show a value between 1x to 10x – and wins are paid for every Collector symbol on the reels.

The Bonus Feature is activated when six or more Coin symbols appear anywhere on the reels, awarding an initial three spins. When four or five Coin symbols hit, they may randomly reveal more Coins to top up the total to six to launch the bonus. Once in the feature, only Collector symbols, Coin symbols, and Mini, Minor, Major, or Grand prize symbols appear.

After every bonus spin, all positions without Coin symbols, Mini symbols, Minor symbols, Major symbols and Grand symbols will spin to reveal either Collector symbols or nothing. If a Collector symbol lands, it collects the values from prize symbols on screen. Coin prizes range from 1x–10x, Mini awards 20x, Minor 50x, Major 500x, and the Grand symbol delivers an impressive 5000x the bet.

PG Soft’s spokesperson commented: “Alibaba’s Cave of Fortune is a jewel in the desert sands, promising treasures beyond belief to those who can find a way through the traps and puzzles. Each spin is a step closer to claiming Alibaba’s legendary fortune.”

The post PG Soft welcomes players into Alibaba’s Cave of Fortune appeared first on European Gaming Industry News.

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Kambi Group plc and Paf sign long-term sportsbook partnership extension

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Latest extension deepens longstanding partnership between Kambi and leading international gaming operator Paf, first established in 2010

Kambi Group plc, the home of premium sports betting solutions, has agreed a long-term extension of its online sports betting partnership with Paf, an international gaming company known for its commitment to responsible gaming and sustainable entertainment.

This latest renewal further deepens the partnership between Paf and Kambi which was first established in 2010 and has seen Paf launch its Kambi-powered sportsbook in several regulated markets including Estonia, Finland, Latvia, Spain and Sweden.

Headquartered and licensed by the local government in Åland, Finland, the operator will continue to leverage Kambi’s Turnkey Sportsbook offering and a curated selection of front-end development services to power its flagship Paf brand, alongside brands such as Speedybet and Golden Bull.

Werner Becher, CEO of Kambi, said: “We are proud to announce this latest contract renewal with Paf, growing Kambi’s relationship with one its longest standing partners. We are enthused to continue working closely with Paf, empowering them with our premium sports betting products and supporting their strategic growth ambitions.”

Christer Fahlstedt, CEO of Paf, said: “Extending our longstanding partnership with Kambi was a natural choice, building on many years of strong and trusted collaboration. We are passionate about continuing to deliver unforgettable sports betting entertainment to our players across Europe, and Kambi’s services will continue to play an important part as we build on this success.”

The post Kambi Group plc and Paf sign long-term sportsbook partnership extension appeared first on European Gaming Industry News.

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James Jelliffe Head of Slots at Stakelogic

Stakelogic launches five new Mini Games designed for fast, fun, instant-play

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A new wave of fast-play titles designed for instant entertainment and short-session engagement.

Stakelogic is expanding its portfolio with the release of five new Mini Games, each designed to deliver sharp, satisfying gameplay loops and instant-win excitement. Launching 24 November, the collection blends simple play with high engagement, giving players something compelling to dip in and out of between longer sessions.

Golden Kick is a fast-break penalty shoot-out where instinct meets nerve. Each successful kick increases the payout and moves players up the multiplier bar, with the option to cash out at any time. Missing a shot forfeits the round, turning each decision into a dramatic risk-reward moment. Completing all safe zones on a chosen difficulty tier unlocks a powerful Bonus Multiplier, giving Golden Kick a competitive, tournament-style energy.

Mouse on the Run is a vertical trail game where players chase Yarn Balls while avoiding hidden traps. Different difficulty modes shift the balance between safety and volatility. Collecting Cheese symbols boosts the final multiplier, encouraging players to push their luck just one step further. Charming visuals and clear progression cues make this a warm, character-driven take on instant win play.

Gold Pick Legend is a minefield-style grid game where gold nuggets mean reward and dynamite ends the round. Players choose the grid size and number of hidden explosives, directly shaping the level of risk and the size of potential multipliers. The option to cash out at any time means tension builds naturally as more tiles are uncovered.

Flip N Win is a stripped-back coin flip game. Players choose the level of risk by moving the slider to increase the potential payout – but the higher the reward, the more daring the odds. Each flip is quick and decisive, with a history tracker showing recent streaks. It’s simple, clean, instant entertainment at its most replayable.

Tiki Tiki Twist is a tropical-themed wheel game which puts players in control of the challenge. By choosing both difficulty and the number of wheel segments, players influence the balance between winning zones and higher multipliers. Land on a winning segment to claim a payout or push for bigger potential with a more volatile setup. This colourful, tap-and-spin experience packs a punch.

James Jelliffe, Head of Slots at Stakelogic, said: “Player behaviour continues to evolve, and Mini Games have become an important part of the entertainment journey. They offer quick engagement, clear outcomes, and the freedom to dip in and out without commitment. This latest collection showcases just how much personality and excitement can be delivered in short-form play. We’re excited to see them live across our operator network.”

The post Stakelogic launches five new Mini Games designed for fast, fun, instant-play appeared first on European Gaming Industry News.

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