CashBet closes $1.7 million funding round for online gambling platform

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By Brandy Shaul Comments

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Real-money gambling company CashBet has announced the closure of a $1.7 million Angel Round of funding for its platform, which brings real-money online gambling to social and mobile games. The round was led by Fred Hsu and other private investors, and CashBet is currently preparing to seek additional investments from larger investment partners.

CashBet’s platform is in private beta, with SDKs available to iOS and HTML5 developers. Through CashBet, developers have the ability to register players and conduct online gambling transactions in their games in Europe, while CashBet itself focuses on anti-fraud technology, user and data security, and more.

“CashBet has already made significant moves into the mobile gambling space over the last year by launching our SDKs for HTML5 and iOS platforms and by acquiring Category 1 and Category 2 eGambling licenses from the AGCC,” said Dr. Mike Reaves, CEO and cofounder of CashBet.

“We’re pleased with the current momentum of partnerships and our product development achievements to date. We’ll continue to focus on expanding the feature set and capabilities of our platform to meet the growing needs of our customers worldwide.”

More information on CashBet’s gambling platform is available on the company’s website.