eSports
Midnite Raises Over $2.5M in Funding
Midnite, the London-based esports betting startup, has raised just over $2.5 million in funding. The “strategic” investment is led by gaming-focused venture firm Makers Fund.
Previous investors in Midnite include London VC firm Venrex Investment Management, as well as unnamed “founders and executives” from leading gaming companies, including Betfair and GVC. The new round brings the total raised by the 2016-founded company to around $4.5 million.
“The esports market is seeing rapid year-on-year growth and we believe that betting represents the single biggest opportunity in this space. Wagering on esports is expected to exceed $12 billion by the end of 2020, making betting already one of the fastest growing verticals within esports,” Midnite co-founder Nick Wright said.
However, despite the size of opportunity, Wright says that for most big sports betting sites, esports is “just another tab” in their legacy sports betting offering, but that esports fans are not simply just another type of sports fan. “They are an entirely new customer category and deserve a platform tailored to them,” he says. “This is why Midnite exists.”
With that in mind, Wright pitches Midnite as an “entertainment platform” that provides an immersive experience for esports fans. He says fans get the thrill of watching, analysing and betting on their favourite teams and players as they face off in tournaments around the world.
“What makes esports differ from other sports is the constant action and its highly dynamic nature. This is conducive to a variety of live betting opportunities that you can seldom find in real sports. Users can bet on your standard match winners and losers, but they can also bet on unique selections such as next kill or next objective achieved while matches are in-play,” Midnite co-founder said.
“In the past, betting on esports has been carried out by unregulated operators, which meant that the unregulated market was several times bigger than the regulated market. Many operators offering esports betting would not be licensed, were not taking responsible gambling seriously or even performing age verification checks. This meant customers want to bet on esports were often placing themselves at risk. We are creating a safe and responsible environment for these fans. Customer safety is our top priority and we are taking it very seriously. We are doing everything by the book to ensure our community is safeguarded and are compliant with all the regulations in markets where we are operational,” he added.
Asia
Revenant XSpark Partners With iQOO In Landmark Esports Deal
Revenant XSpark, one of India’s leading Esports organization is excited to announce a ground-breaking partnership with iQOO, the high-performance smartphone brand. Leveraging the growing appeal of Esports, Revenant XSparks & iQOO have partnered together, with iQOO securing the naming rights for India’s top-performing Battlegrounds Mobile India (BGMI) roster under the Revenant XSpark brand. The team will now compete under the name iQOO RNTX, marking a significant milestone in the evolution of Indian esports. This collaboration stands as one of the biggest deals in Indian Esports history.
A collaboration between Revenant Esports and Team XSpark; The vision & goal behind the creation of ‘Revenant XSpark’ was to redefine the Esports landscape in India and neighbouring regions.
Having been unveiled at the recent collaboration, Revenant XSpark’s (BGMI) roster competes across regional and international competitions. With an unmatched track record of securing two back-to-back titles at major Krafton events, the team is led by coach Osmium as one of the premier teams in the country. Dominating competition across the board, the team of Sarang (Sarangajyoti Deka), Spraygod (Harsh Malik), Joker (Khush Singh), and Shadow (Tenzin Kelsang), have been able to carve a name for themselves in the Esports landscape as a force to be reckoned with in both global and local platforms.
Champions at the BGMI Pro Series and BGMI India Series, the team already has a firm foothold in the India market and is aiming to build and expand its narrative globally. Alongside iQOO’s innovation driven mindset, the collaboration will leverage expertise from both sides for mutual beneficial outcomes.
Rohit Jagasia, Founder and CEO of Revenant Esports, said, “We’re incredibly proud to announce our groundbreaking partnership with iQOO. This is a monumental moment for Indian Esports – marking one of the largest deals in the industry. iQOO’s commitment to innovation aligns perfectly with our vision at Revenant XSpark. By joining forces, we’re creating a powerful synergy that will elevate the Indian Esports scene to new heights. Together, we aim to redefine the landscape of competitive gaming and inspire the next generation of gamers.”
Nipun Marya, CEO, iQOO said, “We’re thrilled to be part of this moment in Indian esports. Partnering with Revenant XSpark goes beyond supporting an exceptional team it’s an investment in the future of competitive gaming. Together, we aim to inspire the next generation of gamers, drive meaningful innovation, and shape the future of esports in India. This collaboration is a step towards achieving long-term synergies that align with our broader vision to elevate the gaming experience.”
The post Revenant XSpark Partners With iQOO In Landmark Esports Deal appeared first on European Gaming Industry News.
Asia
8Bit Creatives secures biggest ever esports Naming Rights deal in India with iQOO
8Bit Creatives, India’s premier esports & gaming talent management agency, has secured a major mandate in the largest naming rights sponsorship deal in Indian gaming history with iQOO, a leading performance smartphone brand. 8Bit Creatives bagged three out of the five naming rights deals, further cementing its leadership in the esports ecosystem.
The three teams represented by 8Bit Creatives are:
- 8bit Esports
- Reckoning Esports
- Revenant Xspark
This historic partnership further cements iQOO’s commitment to the esports ecosystem in India, building on its ongoing association with Team iQOO Soul, which has been a flagship collaboration with 8Bit Creatives for over a year.
Speaking about the partnership, Animesh Agarwal, Founder and CEO of 8Bit Creatives, said:
“We are incredibly grateful to iQOO for placing their trust in us to represent three of their five teams, and we are happy to support their gaming & esports initiatives. This is a moment of great pride for Indian gaming, and we are excited to see iQOO’s continued contribution to growing the esports landscape in India.”
Sarang Naicker, Owner of Reckoning Esports, commented:
“Partnering with 8Bit Creatives has always been a key driver of Reckoning Esports’ growth. This historic association with iQOO reflects the strength of our collaboration and our shared vision to elevate the esports ecosystem in India. Together, we aim to continue setting new benchmarks for gaming excellence.”
Rohit Jagasia, team owner of Revenant Xspark, added:
“Our partnership with 8Bit Creatives has always been focused on driving innovation and creating meaningful opportunities for our players and fans. This association with iQOO is a testament to that vision, and we are thrilled to continue our journey together to elevate esports in India.”
With this deal, iQOO continues redefining the boundaries of brand integration within esports, ensuring that fans and players benefit from an elevated experience. By associating its high-performance brand with some of India’s leading esports teams, iQOO reinforces its position as a key driver of the country’s gaming revolution.
The naming rights deal is not just a commercial success but also a testament to the thriving Indian esports ecosystem, as brands increasingly recognize the value of invest ing in gaming’s vibrant community.
The post 8Bit Creatives secures biggest ever esports Naming Rights deal in India with iQOO appeared first on European Gaming Industry News.
eSports
BETER partners up with VeliTech
BETER and VeliTech Partner to Enhance Betting Esports and Sports Content
BETER, an award-winning supplier of fast betting content and data, has joined forces with technology B2B provider, VeliTech, in a deal that will significantly increase the reach of its fast betting products.
Through this collaboration, the VeliTech platform will feature BETER’s 24/7 esports and sports content, including live streams, real-time data, and odds. It includes ESportsBattle tournaments, which offer round-the-clock action on popular titles such as eFootball, eHockey, and eBasketball. This addition enables operators to enhance engagement and diversify offerings in the competitive sports betting market.
Besides that, BETER provides the platform with an esports odds feed covering 450+ tournaments worldwide, with 40,000+ live and pre-match events per year. Odds are based on official data for popular titles such as CS2, Dota 2, LoL, Valorant, and more.
BETER’s sports content, such as Setka Cup table tennis tournaments, will also be available on the VeliTech platform. In total, bettors can wager on over 46,000 fast-paced esports and sports monthly events.
Gal Ehrlich, CEO of BETER, said, “This is an important partnership for us as it significantly expands the reach of our sports and esports products among high-calibre operators in core markets worldwide.
“VeliTech offers a suite of solutions powered by advanced technologies that sportsbooks rely on to deliver superior bettor experiences. Fast betting content is now a must-have for operators, and our products are recognized as the best in the industry.
This makes the deal between BETER and VeliTech a win for both parties, but more importantly, for the sportsbooks that can now access our in-demand products.”
Tamar Skhirtladze, Head of VeliSports at VeliTech, stated, “Partnering with BETER allows us to provide high-quality betting content like Dota 2, LoL, CS2, ESportsBattle tournaments, and Setka Cup to our clients, reinforcing VeliTech as a trusted technology partner supporting leading operators.”
The post BETER partners up with VeliTech appeared first on European Gaming Industry News.
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