Betting technology business Network Gaming has raised £1.25m (€1.48m/$1/.64m) in new strategic funding from investors including Betfair co-founder Andrew Black.
Black joins a number of other leading industry names to have invested in Network Gaming such as Colossus Bets chief executive David O’Reilly and TX Odds chief executive Einar Knobel.
Other investors in the business include Oakvale Capital partner Sandford Loudon, Los Angeles-based angel investor Gary Otto and angel investor Robert Markwick.
“I’ve felt for a while now that the betting landscape is ripe for change, and I’m delighted to be working with Network Gaming on a few fresh ideas,” Black said.
Network Gaming made its name with Fantasy Masters, a pay-to-play golf game that pitted friends and colleagues against each other with the chance to win cash prizes.
The business built on this with the launch of a range of other free-to-play and pay-to-play prediction games across a number of sports, while it also has partnerships in place with operator Fitzdares, The Sun newspaper’s Dream Team fantasy football offering and UK radio station TalkSport.
“We give customers the experience of a game, not just a bet,” Network Gaming chief executive Harry Collins said. “Moving up or down a leaderboard right until the final seconds of an event offers a different type of excitement to betting, one where enjoyment comes from competing against friends or other sports fans in a rollercoaster ride.
“We’re delighted to have an industry trailblazer like Andrew advising us on fresh ideas and to have the support of other experienced innovators for this step-change in Network Gaming’s evolution.”