BuddyBet awarded Isle of Man licence
Social betting operator receives clearance to offer real-money play.
Social betting operator BuddyBet has begun offering real-money gaming after securing a licence from the Isle of Man Gambling Supervision Commission (GSC).
The operator, which soft-launched last year, offers players the opportunity to bet against opponents for cash, virtual credits (called BuddyBucks) or forfeits.
Players can bet against specific opponents, post challenges in private groups, or offer ‘open-market’ bets which can be challenged by any other member of the site.
In an interview with eGaming Review last year, chief executive Jarrod Epps (pictured) said: “We’ve been trying to do something we call gamblification [and] in the long-term we are trying to build a sense of community and a sense of virality.
“We’re aiming for a younger, more dynamic market of predominantly sports fans…we want to reach out to people who are intimidated by sites like Betfair and want something fun where they can challenge their friends rather than necessarily just going after the best odds,” he added.
BuddyBet is the second egaming company to be awarded an Isle of Man licence in recent months, with Locus Gaming securing approval from the GSC in December.
(Photo courtesy of Dana Chapman)