An esports betting company of London, Midnite, has just collected a funding over $2.5 Million, led by Markers Fund, a gaming focused venture company.
Venrex Investment Management, a London based VC firm, Betfair, GVC and some unnamed executives and founders were the previous investors of Midnite. The total fund has been reached to around $4.5 million.
Nick wright, the co-founder of Midnite said they believe that in the rapid growing market of esports, betting represents the biggest opportunity. By 2020, betting on esports will exceed $12 billion as it is a fast growing esports vertical. Midnite exists to create a platform tailoring the esports fan as entirely a new customer category. It is a platform that provides its fan with immersive entertaining experience. Fans watch, analyze as well as bet on their favorite players and team in different tournaments.
Constant actions, progressive and potential behavior make esports different from others. You will find a conducive opportunity of live betting as like the real sports.
Midnite has already attained a betting license to be the biggest besting market of world, though they are running an invite only operation scheme. It allows Midnite to be a dedicated platform to grant only U.K customers but they are trying to focus on global operation and trying to have world wide license.
Previously the betting market was mostly unregulated, and many operators were not licensed, and gambling responsibilities were not taken seriously that made betting on esports risky. Midnite is trying to make a safe as well as responsible betting environment.