Defying the Odds: Up and Coming Gambling Tech Companies
In recent years, the gambling industry has changed, propelled by the rapid advancement of technology. From the carpeted halls of traditional casinos to the convenience of online platforms ready to use in the comfort of your own home, gambling tech has revolutionised the way people place bets and play games.
These innovations are not just enhancing the experience for the everyday punter but they’re also ensuring fair play, boosting security, and making gambling more accessible.
As we roll into a big summer of sports, we thought it apt to take a look at the UK’s up-and-coming gambling tech companies.
What is gambling tech?
Gambling tech refers to the technologies and innovations used in the gambling industry to:
- Enhance the user experience
- Improve security
- Ensure fair play
- Optimise operations (for example automation tools can handle routine tasks such as payment processing, customer verification, and game management)
Innovation Nation
Types of gambling tech
Online casinos and betting platforms, often coming in the form of an app, are now ubiquitous, enabling people to gamble on the go. These include online live dealer games where you can take part in real-time games streamed to your device.
There are a number of other technologies that fall under the gambling tech category that might be overlooked, such as:
- Random number generators (or RNG) use algorithms used to ensure that the outcome of games is random and fair
- Artificial intelligence and machine learning tools that are used to analyse player behaviour, detect fraud, and personalise the gaming experience
- Virtual Reality (VR) and Augmented Reality (AR) technologies that create immersive gaming environments, enhancing the experience of online gambling
- Security and anti-fraud technologies
- Payment processing systems
- Regulatory compliance tools
How has the UK’s gambling landscape changed?
There was a spike in funding into gambling companies at the end of 2021 and the beginning of 2022, increasing from £2.3m in Q3 2021 to £23.2m invested in Q4 2021 and £21.9m invested in Q1 2022. This could be a longtail response to COVID-19 as more people were moving to online betting platforms as opposed to in person casinos and betting shops. This increased demand for digital gambling experiences likely spurred investment in online platforms and technologies.
It’s also reflective of newer and more advanced technologies emerging in the gambling space and therefore, more investment into gambling tech specifically. Innovations such as AI-driven predictive analytics and immersive virtual reality experiences have redefined the landscape of gambling.
The UK’s Fastest Growing Deeptech Companies in 2024
The UK’s top emerging gambling tech companies
10.
20 Shots
Date of latest fundraising: 20th June 2023
Amount raised in latest fundraising: £409k
20 Shots develops betting software for fantasy sports leagues. It has built a fully customisable game for brands to acquire and retain customers. By leveraging advanced analytics and user-friendly interfaces, 20 Shots ensures an engaging and seamless experience for both operators and players.
The company received £409k in funding in early 2024. In total the company has raised £2.0m.
09.
Stars Games
Date of latest fundraising: 10th February 2024
Amount raised in latest fundraising: £490k
Star Games is an online platform offering a comprehensive range of sports betting and casino games.
In total the company has raised £831k over three rounds of fundraising.These funds have been instrumental in enhancing the platform’s features, expanding its game library, and improving user interface and experience.
08.
Daymade
Date of latest fundraising: 20th March 2024
Amount raised in latest fundraising: £857k
Daymade operates an online, subscription-based weekly prize draw where users can win holidays and excursions. Daymade was established in 2019 by Lisa Nederveen, Callum Wright, and Andrew Broekelmann with a vision to revolutionise prize draws. Their goal was to create a new type of draw offering better odds of winning and allowing participants to choose their desired prize.
This Hampshire-based company has raised a total of £2.5m over the course of five funding rounds.
07.
Future Anthem
Date of latest fundraising: 6th March 2024
Amount raised in latest fundraising: £1.1m
Future Anthem provides consultancy services for gaming and gambling companies aiming to improve player engagement, including through the use of AI software. Future Anthem was founded in 2018.
It attended the Applied AI accelerator in 2021-2022. Since its inception, the company has gone through four rounds of funding and raised a total of £8.8m.
06.
S Gaming
Date of latest fundraising: 29th September 2023
Amount raised in latest fundraising: £1.3m
S Gaming develops mobile gambling games, primarily slot machine games. S Gaming is dedicated to infusing sustainability into the iGaming aka online gambling market. Launched in 2023, the company anticipated another market shift towards online gambling and created its platform for slot machine app games.
A relatively new company, S Gaming has already raised an impressive £1.3m in equity in just a single round of fundraising.
05.
GameplAI
Date of latest fundraising: 30th January 2024
Amount raised in latest fundraising: £1.5m
GameplAI develops sports analytics and forecasting software using machine learning, to create automated trading products for sports books.
Similarly to S Gaming, the company was founded recently, in 2022 — and has already raised a huge amount of equity from just one fundraising event. The investment came from angel investors. It attended the Techstars Sports Accelerator in 2022.
04.
Raffolux
Date of latest fundraising: 16th October 2023
Amount raised in latest fundraising: £1.5m
Raffolux operates an online gambling platform where users can enter raffles to win luxury items. With a focus on providing a user-friendly experience, the platform offers a wide range of high-end prizes and frequent draws to keep players engaged.
The company featured on the TechRound 100 high-growth list in 2023. Raffolux was founded in 2017 and since then has been through three rounds of funding, totalling £3.2m. Its most recent fundraising came from UKTV Ventures who contributed £1.5m in autumn last year.
03.
Bettormetrics
Date of latest fundraising: 5th February 2024
Amount raised in latest fundraising: £3.0m
Bettormetrics develops data analytics and forecasting software for sports trading and betting. The Bettormetrics platform assists traders and quantitative analysts in combining and analysing data, enabling them to identify obstacles to success and uncover opportunities for growth.
The company was established in 2021, and has gone on to raise a total of £3.5m over two fundraisings. The most recent was in early 2024, and came from Bettor Capital and Velo Partners.
02.
InCrowd
Date of latest fundraising: 6th March 2024
Amount raised in latest fundraising: £3.5m
InCrowd has developed a mobile app to provide users at sporting events with live updates and interactive features.
The company appeared on the BusinessCloud SportTech 50 in 2021. It also hit our 20% Scaleup Growth Signal, meaning it has grown in revenue or headcount by at least 20% for three years running. Since its launch in 2014, the company has raised a total of £12.5m across five funding rounds.
01.
BeyondPlay
Date of latest fundraising: 14th April 2023
Amount raised in latest fundraising: £4.5m
BeyondPlay develops gaming technologies for gambling and multiplayer interaction in video games.
Its Jackpot Management System offers prizewins through highly customisable jackpots tailored to the brand and user base, driving incremental revenue for businesses while adding excitement for players.
The company exited in February 2024 when it was acquired by FanDuel. Its most recent fundraising in 2023 came from Bettor Capital, Tigrim Capital, Winforton Investments and angel investors. In total the company raised £5.9m over four years.
Methodology
- Be headquartered in the UK
- Be active on Companies House
- Operate in the gambling tech industry
- Have received equity fundraising in 2023 or 2024
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