PlayUp acquires Australian social betting platform
Crypto-based gaming and DFS operator announces fourth significant acquisition in the last month
Australian online gaming and DFS firm PlayUp has announced its latest acquisition in the form of betting.club, an online platform that lets punters “bet and be social”.
The betting.club platform allows players to rate and share form, share tips and then place the bets.
PlayUp acquired the business from its owners – three of Sydney’s community organisations; the Mounties Group, Campsie RSL and Club Rivers.
Daniel Simic, PlayUp CEO, said: “Betting.club has been on our radar for some time as they have built a truly social wagering platform used by a high volume of punters as well as developed an innovative app and online presence.
“We’re committed to enhancing the social and community focus of the platform as well as integrate the PlayChip as an optional wagering payments and rewards offering.”
Simic said the deal represented a first step towards the PlayChip token being used for wagering in land-based venues.
Betting.club CEO Kelly Signell added: “PlayUp has significant momentum and importantly has demonstrated to us their ability to grow and engage online communities which is fundamental aspect of betting.club.
“We’re pleased to see betting.club now join the PlayUp ecosystem and our clients will no doubt benefit from the opportunity to use the PlayChip Utility Token in both the online platforms and potentially in some of the largest club venues in Australia.”
Last year Simic and investors resurrected the PlayUp brand that once burnt through A$100 million of investor funds.
PlayUp has made waves in the gambling sector in recent weeks with three major acquisitions, pledging to “acquire and roll up multiple Australian wagering and global fantasy sports businesses into a single group that is seeking to be dual listed on the ASX and NASDAQ”.
PlayUp said it will deliver “the world’s first fully-integrated, blockchain enabled global fantasy sports, online sports betting & gaming ecosystem”, based on its PlayChip cryptocurrency.
The firm is currently collecting payers on its free-to-play DFS site, then will launch a pay-to-play version and ultimately a sportsbook, all of which will use the PlayChip token as currency.