Betable launches real-money 'add-on' for app developers
UK-licensed operator to offer developers a real money add-on as an alternative to applying for an egaming licence.
US company Betable has launched a platform offering app developers a real-money gaming solution on any platform or device.
Companies are able to add the solution to new and existing freemium or social games to permit the inclusion of real-money gambling features, without the need for virtual credits. Developers are also able to forgo applying for an operating licence, with the product regulated via Betable’s UK Gambling Commission licence.
Founder and CEO Christopher Griffin explained that the add-on reflects the rapid convergence of social games and real-money gambling: “Social game developers have a big problem; existing game monetization methods yield very low per player revenue, so without millions and millions of players it is extremely difficult to build viable businesses.
“By partnering with Betable to enable real-money gaming, developers will see huge increases in their average revenue per user and average customer lifetime value. Real-money gaming represents the rapid convergence of social games and the gambling industry, and our roster of investors with luminaries from both spaces uniquely positions Betable to capture this emerging market. The validation they bring to the opportunity and the value that they add to our business is immeasurable,” Griffin said.
Betable will only offer its platform to developers licenced in countries which have authorised online gambling, meaning that the platform will not be available in the US until legislation has been approved.