Seattle-based online sports betting start-up, Unikrn announced that it received $7 million in funding, taking its total valuation to a whopping $40 million!
The company has launched a platform that takes bets on e-sports video games. The latest infusion of cash came from a group of investors headed by Justin Caldbeck and Jonathan Teo of Binary Capital, including Mark Cuban, in a sign that there is immense interest in this specific type of gaming.
Binary Capital is eager to invest in competitive gaming simply because millions of people from different parts of the world enjoy participating in e-sports and betting on it.
They believe that the industry has massive potential for growth as the huge participation, both as players and viewers, in video games tournaments indicate.
Games will be streamed on Unikrn via Twitch!
E-sports are extremely thrilling because they involve detailed strategy as well as quick reflexes and good team work; exactly the kind of thing that people love to watch.
In fact, they are overtaking a few traditional sports in popularity, although soccer, baseball, basketball, tennis and the like are far ahead in terms of viewership.
The fact that they attract huge sponsorship from corporations testifies to their popularity.
Twitch has been an astounding success as a platform for streaming video games on the internet.
A whopping 21 million viewers watched June’s broadcasts of events that took place in Los Angeles during the Electronic Entertainment Expo (E3).
A dedicated community of viewers, built up by providing high quality content, watched 12 million hours of streamed content from E3 in total, making the Amazon-owned business the most significant player in this business.
There’s no doubt that the community of Twitch viewers is passionate about this platform, as Marcus ‘djWHEAT’ Graham, its popular programming director pointed out.
Unikrn is a fairly new entrant into the highly competitive e-sports industry, but it certainly has managed to make a mark of its own.
It’s a no-brainer that people would love to place wagers on these games that have so many twists and turns and are games of skill more than anything else.
Unikrn currently takes bets on hugely popular games such as League of Legends, Counter-Strike: Global Offensive and Dota 2.
Unikrn entered the Australian market last April in a partnership with Luxbet, a Tabcorp subsidiary.
Tabcorp is one of the global leaders in the wagering industry and it promotes responsible betting.
Unikrn now operates in the lucrative markets of the United Kingdom and Ireland as well and it has plans to enter the immense US markets too, as co-founder, Rahul Sood indicated to the media at the E3.
It has to be pointed out here that betting on any sports, and this includes e-sports, continues to be banned in most parts of the United States, even though there is immense demand for it in the country.
The gaming industry has taken the fight to the courts, but this isn’t something that will get sorted out very soon.
Even so, the company headed by Rahul Sood and Karl Flores has its plans in place!