Social Gaming Firm Raises New Capital

$2.7 million will help raise head count and spur app development

US investors seem to like social gaming firm Youbetme, which has raised a further $2.7 million in funding this week following its $1,2 million in start-up funding back in January this year.

Based in San Francisco, the company reports that its sports betting-oriented app achieved over 100,000 downloads in the first months following its launch, and is set to reach more than a million by the end of 2014.

The app does not permit real-money wagering, but records and facilitates communication between parties who bet with one another on events that range from personal challenges and prop bets to sporting wagers.

As one company spokesperson explained:

"Youbetme caters to not only sports enthusiasts, college students, young professionals, but anyone seeking a simple and engaging way to place a friendly wager on anything and everything."

The new funds will be used to increase head count in the growing company, and invest in further technical development, expanding its current iOS availability to Android platforms.

Online Casino News Courtesy of Infopowa

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The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophography.
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