At the moment, the eSports Betting industry is hot and everyone is looking to profit from it. This is because the current trend is that if you have an eSports Betting product, you will easily find companies to fund you. Thus, the latest news in the industry is that Midnite Raises $2.5 Million for its eSports Betting Platform.
According to online gambling news, Midnite is a new company in London. However, the team behind it is known for its daily fantasy football app, Dribble. Thus, finding investors for their eSports Betting Platform was not a problem.
Raising a total of $4.5 Million for their Sports Betting Platform
Makers Fund is the latest investor to believe in Midnite’s Sports Betting Platform. This is because they just made an investment in them worth over $2.5 million. This now brings the total funding for Midnite to $4.5 million. Some of the more notable investors include Venrex Investment Management along with executives from Betfair and GVS Holdings.
According to eSports News, the esports betting market will reach over $12 billion this year. Therefore, it is not wonder that eSports wagering is fast becoming one of the fastest growing industry in the world.
This year alone several eSports companies are coming to the market with large financial backers. In fact, Raymond James of carara Costa Rica estimates that the growth potential seems endless. This is because so far this year, companies have been heavily investing in eSports startups. From Livestreaming platform to venues. In fact, even IMAX just made a deal with Vindex to bring esport event live stream to the big screen.
One of the reasons for such large backing is probably their approach to eSports Betting and how they view eSports. Other online sportsbooks view eSports as just another way to make money. However, Midnite sees eSports Betting fans as a totally different demographic. Thus, the goal for their eSports Wagering platform is to offer live betting opportunities not found in typical sports.