UK startup Betable has officially unveiled a new initiative to help social developers implement real-money gambling features into their online games, and hopefully open up brand new revenue streams within their existing audience.
If you've been eyeing the social space over the past several months, you might have noticed that major players like Zynga have expressed interest in expanding their business beyond in-app purchases, and into the realm of real-money gambling. It's a sticky business to get into thanks to the myriad legal restrictions in place, but on Monday the UK startup Betable announced that it plans to help social developers get around those hurdles with a brand new game platform. Currently in private beta, the Betable platform allows developers to implement real-money gambling features into their games, and the company claims it could potentially open up new revenue streams that the social space hasn't yet been able to tap into. Betable declined to share exactly how much of a cut it will take from developers using its program, though company founder Christopher Griffin told us that the revenue split will be "similar to what developers have come to expect from other platforms." Right now, the Betable program is only available in select countries where local laws permit online wagering. While Betable could not provide us with a full list of its supported territories, the company noted that it particularly plans to focus on growing its platform within Western Europe. Games in other regions, such as the United States, however, won't be able to support Betable's program in the foreseeable future, as strict regulations in these territories prevent companies from employing online betting altogether. Developers operating in these regions can still use Betable's platform, but their games can only use real-money gambling in the territories where such practices are legal. For more information on Betable's real-money gambling program, visit the company's official website.
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